Aave is an open source and non-custodial liquidity protocol for earning interest on deposits and borrowing assets. The AAVE protocol is a system of smart contracts that manages the lending and borrowing operations without the need for an intermediary. Users can post collateral in a certain cryptocurrency and loan another. Holding AAVE or using it as collateral allows users to borrow more money and reduces the handling fee users need to pay to borrow cryptocurrencies, among other benefits.
Bitvavo makes it as easy as possible to buy digital assets and cryptocurrencies.
1. Sign Up
Create a free account with which you can buy, sell, send, receive and store Aave. Access your Bitvavo account from every location, on mobile and desktop.
2. Transfer Funds
Verify your account and transfer Euros to your Bitvavo wallet using one of the 8 supported payment methods.
3. Buy and Trade
Buy or sell over 150 digital assets and pay a maximum trading fee of 0.25%. Store your assets in your Bitvavo wallet or send them to your external wallet.
Storing Aave and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Aave without any technical knowledge. Here is a brief overview of the existing wallet options to store your Aave:
Hosted Wallet
Hosted wallets are wallets where the private keys to your Aave are managed by a third party such as Bitvavo. Access to your account is protected by a password and other advanced security features. Once you are logged in, you can easily and conveniently manage your Aave online. Bitvavo offers standard hosted wallets for all digital assets that are offered on the platform.
Software wallet
A software wallet is a program installed on your computer or other device in order to use and manage your Aave. Using a software wallet gives you full control over your private keys, so you are not dependent on third parties. The risk is that you alone are in charge of the security of your Aave, and if malicious parties have access to your device, your private keys (and therefore your Aave) can be stolen.
Hardware wallet
A hardware wallet is a physical device on which you can store your Aave offline. It is one of the safest ways to store your Aave, because the private keys are stored on a separate and offline device. Access to this device is often protected by a password. In many ways, a hardware wallet can be compared to a safe in which your Aave is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Aave. Once you have purchased Aave on Bitvavo, you can choose to send your Aave from your Bitvavo wallet to your own software or hardware wallet.
