Where to Buy AVAX UK – Beginner’s Guide

A smart contract compatible and open-sourced network that looks to rival the Ethereum network, AVAX is the native token that powers the Avalanche blockchain. After soaring from an initial offering price of just $4 in 2020 to an all-time high (ATH) of $130 the following year, many investors are looking to buy AVAX now. 

This guide provides all the information you need to know about how to buy AVAX in the UK. We will also guide you on the cheapest ways to buy AVAX and the best exchanges to buy Avalanche’s coin on. 

 How to Buy AVAX UK – Quick Steps

Where to Buy AVAX in the UK

Before we take a closer look at the AVAX coin itself, let’s quickly take a look at the best places to buy Avalanche crypto in the UK.  The following are 4 of the most competitive and cost-effective sites to buy Avalanche crypto. 

1. eToro – Best Overall Place to Buy AVAX in the UK

eToro is our recommended best crypto exchange to buy Avalanche crypto in the UK. From the relatively straightforward registration process to the easy-to-use navigation toolbar, eToro is an attractive platform for beginners and new investors in the UK.

This platform is also a favourite among beginners and cost-conscious investors. eToro requires a minimum deposit of only $10 for buying and selling AVAX in the UK. In addition to this, eToro boasts a 0% commission policy on all unleveraged trades. A standardised fee of 1% on all cryptocurrency transactions makes eToro a cheaper and cost-efficient alternative for all users.

eToro works as a social trading platform that lets you interact with other traders in the UK. This feature allows investors to copy the trades of more experienced traders, which is beneficial if you lack the knowledge or expertise. 

It is also a go-to option for crypto investors looking to diversify their assets or opt for a risk-averse investing strategy. You can use eToro to invest in AVAX and other cryptocurrencies and buy Bitcoin in the UK using customised crypto bundle options.  

The deposit process on eToro allows you to purchase AVAX using multiple payment options – from region-specific payment methods like Skrill and Neteller to Credit/Debit card deposits. 

A Global brokerage, eToro is strongly regulated around the world – The Financial Conduct Authority (FCA) being the official regulator of the platform in the UK.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

2. Crypto.com – Best Platform for Staking AVAX

Crypto.com is one of the most popular cryptocurrency exchanges worldwide – trading in over 50 countries. Hosting over 250 currencies on their platform at a very competitive fee – crypto.com is one of the cheapest ways to buy AVAX.

Crypto.com charges a commission of only 0.4% on all crypto purchases, which decreases with an increase in the trading volume of the particular token. One of the USPs of buying AVAX with crypto.com is its staking privileges.

This process requires users to stake a certain amount of AVAX or any other cryptocurrencies for a minimum of 3 months. While investors cannot sell their staked coins in this period, they can earn interest on their tokens for no extra effort. With AVAX, you can earn 4% interest for a 3-month lock-up. 

Crypto.com also uses several security measures, including multi-factor authentication and real-time threat detection, to prevent hacks or breaches. Cryptocurrencies on the site are also held in cold storage and insured up to $500 million against theft and damage.

Crypto.com is regulated by the Malta Financial Services Authority (MFSA), the sole regulator of financial services in Malta. 

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

3. Binance – Global Crypto Exchange with a Huge Range of Coins

Binance is one of the biggest cryptocurrency exchanges globally and the biggest in daily trading volume.

Operating in over 100 countries and providing access to over 100 coins, this platform is one of the safest to buy AVAX on. Binance provides features for more senior-level traders in the form of spot trading and margin trading, along with options to take out crypto loans and access staking features.

You can also begin trading on Binance with as little as $10, making it attractive for beginners and cautionary investors. 

The platform’s most significant benefit is its crypto exchange options. It’s a highly liquid company and allows investors to trade and pair over 100 tokens. So, apart from purchasing AVAX with debit/credit options – you can swap your existing cryptocurrencies such as ETH, BTC, and ADA with AVAX with ease. 

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

4. Coinbase – Lower Pricing with Coinbase Pro

With worldwide access to over 100 countries and solid regulatory policies put in-store by the Securities & Exchange Commission (SEC), Coinbase is one of the best exchanges to buy AVAX coin.

Coinbase is an excellent gateway for beginners – giving users access to over 100 tokens and trading pairs, with a minimum purchase amount of only $2. Coinbase takes a slightly hefty fee of 0.5% – 2% per trade, but this can be reduced for investors who have access to the Coinbase pro account. 

This popular crypto exchange offers a wide variety of trading tools and analysis resources, so you have everything you need to inform you crypto trading and investment decisions.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

What is AVAX?

AVAX is the native crypto token for the blockchain Avalanche – An open-sourced and decentralised network that operates as an inter-operable and highly scalable ecosystem. 

The Avalanche blockchain is the fastest smart contract compatible platform in the industry, with a time-to-finality transaction speed of less than one second. The Avalanche network processes 4,500 transactions per second (TPS). For Ethereum, the number is only 14. 

Many developers use the Avalanche network to deploy decentralised applications (DApps) and various Decentralised Finance (DeFi) protocols to possess high scaling capabilities and quick transaction times. 

Despite being launched in September 2020, AVAX has become the 10th largest cryptocurrency globally, with a market cap of $21 billion, as of April 2022. 

Users of the Avalanche network can use the AVAX token to pay for network and transaction fees on the platform. Used as a staking token within the network, AVAX helps keep the platform secure by participating in the validation process. 

On the technical side, AVAX is used as a unit of account between the multiple subnets deployed on the network. This allows the Avalanche protocol to achieve consensus. 

 Is AVAX a Good Investment?

Now that you know where to buy AVAX crypto and what AVAX is, you might be wondering whether this is a good investment opportunity. Let’s take a look at five reasons for you to buy AVAX coin. 

Revolutionary Blockchain

The AVAX coin’s network consists of three different blockchains – X-chain, P-chain and C-chain. Each blockchain has its unique purpose, from hosting smart contracts to creating new subnets from the validators. 

This allows Avalanche to support low-cost and fast transaction speeds without compromising the network’s security or the level of decentralisation. 

Economical Network

Currently, significant networks like Bitcoin rely on the Proof-of-work (PoW) mechanism to secure the network. This requires large-scale mining rings to be set up to validate the network – making it less feasible to maintain. 

AVAX relies on a Proof-of-stake (PoS) consensus to validate its network. The economic resources required to operate this is minimal, only requiring crypto assets to be locked up or staked to validate the blockchain. 

Users staking over 2,000 AVAX tokens can run validator nodes and receive rewards in return. Those with less AVAX can form staking pools and combine their tokens with others in the network. 

Ethereum Alternative 

With high gas fees and slow transaction speeds, users and developers seek alternatives to the Ethereum network. By demonstrating high scaling capabilities without compromising on the security and functionality of the network, Avalanche is a popular alternative. 

Powered by AVAX, the network is currently onboarding more users per second than Ethereum. The multiple blockchains that control the Avalanche ecosystem allow the network to handle 4,500 transactions per second compared to ETH’s 14. 

The average transaction fee of Avalanche’s C-chain is just $0.000004. Ethereum’s is $46. 

Good Investment Potential

If you were one of the early adopters of AVAX coin back in September 2020, a minimum investment of just $100 would be worth $13,800 today. 

The token has soared from an ICO of just $0.50 to an all-time high of $134. Currently, the AVAX coin is trading almost 50% below its ATH, at $69. 

Since AVAX coin has the stability of a strong blockchain network and is currently way below its past performance, an investment in this crypto could be a strategic investment for long-term players. 

Hedge Against Inflation

Fees for all sorts of transactions on the network are paid out in AVAX. 100% of all fees are burnt, which reduces the supply of AVAX and creates scarcity- leading to deflationary pressures. More than $1.4 billion worth of AVAX has been burnt since the coin’s inception. 

There is a fixed cap supply of AVAX, with a maximum amount of 720 million tokens. This cap cannot be exceeded, unlike other tokens like Ethereum. This allows AVAX to act as a hedge against inflation.

 AVAX Price

Currently, AVAX is trading at $79.61, 1.9% lower in the past 24 hours. Despite the current downtrend, the coin has risen by 35% in the last three months after trading at $58. 

AVAX has managed to creep up above its 10-day moving average (MA) of $78.67, and a relative price index (RSI) of 55.6 shows that it may be entering the buying range. Since the technical indicators suggest a healthy momentum for the price of AVAX, you can still look to invest in AVAX using eToro right now. 

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

 AVAX Price Prediction

So what’s next for the price of AVAX coin? Wallet Investor, an algorithm-based forecasting site, predicts a 1-year forecast of $149 for AVAX crypto – a 90% price increase from current levels. The 5-year prediction for AVAX comes at $447.9 – which is more than a 5x increase from current levels. 

While the predictions are not guaranteed, the site uses machine learning, allowing software applications to become more accurate. The site tries to create an accurate algorithm for the cryptocurrency’s future price by inserting data and statistical analysis. 

Another site, priceprediction.net, predicts a minimum price of $114 for AVAX by 2022. 

Ways of Buying AVAX

Now that you know the price and the past performance of the AVAX coin let’s look at some of the payment methods through which you can buy AVAX crypto now. 

Buy AVAX with PayPal

With the increasing popularity of online banking in the UK, PayPal has become one of the most popular payment processors in the country right now. Registering nearly 3 million active users as recently as January 2021 in the UK, PayPal has implemented direct cryptocurrency debit and credit options. 

You can buy AVAX with relative ease in just a few minutes using PayPal. Major brokerages like eToro support PayPal as a payment method, making it quick and easy to buy AVAX safely and securely. 

Buy AVAX with credit card or debit card

Credit and Debit options are among the most popular ways of purchasing cryptocurrencies, including AVAX. This payment method is a very convenient and quick way of buying cryptocurrencies from the comfort of your own home. 

All the brokerages mentioned above support credit and debit payment options for buying cryptocurrencies in the UK. After providing your card details on your brokerage of choice, you can deposit a sum of money via debit/credit options on your trading account. After that, you can insert your desired amount of AVAX and confirm the purchase. 

In the UK, you have the luxury of paying no fees while depositing money using debit and credit cards on brokerages, including eToro and Crypto.com. 

Best AVAX Wallet

Now that you know how to buy AVAX token, it is important to talk about securing your crypto wallets. Similar to how a regular wallet protects our credit cards and currency, a crypto wallet’s primary purpose is to protect digital currencies. 

Since holding these digital assets poses a threat to various cyber-attacks or hacking, a crypto wallet contains advanced features to protect our blockchain assets. 

Crypt wallets have been designed to contain public and private keys. A public key acts as your wallet address which can be shared between cryptocurrency users. 

Alternately, a private key works like your credit card’s PIN code. You use it to sign off and confirm transactions. 

For cryptocurrencies, we mainly use two types of wallets :

• Hot Wallets – Hot wallets are connected to the internet and remain active. The various cryptocurrency exchanges primarily offer them to store your digital assets. While it’s easier to buy and sell cryptocurrencies using hot wallets, they can be subject to online attacks and hacking. 
• Cold Wallets – Cold wallets are the opposite. They are not connected to the internet and usually are stored on hardware devices like USB sticks. Cold wallets are designed to be immune to hacking – One would require access to the hardware and the various pins and passwords to hack your crypto assets. While they may be safe, they are not as user-friendly and convenient as hot wallets. 

We recommend using the eToro money crypto wallet for all your AVAX purchases out of the many wallet options for cryptocurrency users. eToro money is a secure digital wallet that makes buying, selling and trading various cryptocurrencies very easy. 

You can trade your AVAX from over 500 currency pairings, removing the need to transfer or move your assets from another wallet. Along with an unsolvable private key that protects all your assets, eToro money provides you with an on-chain address that stores all your holdings on the blockchain. 

With several high-level security features, including DDoS (Distributed Denial-of-Service), you can download the eToro money wallet on the App Store and Google Play. 

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

 How to Buy AVAX in the UK – Tutorial

Now that you’ve understood everything about the AVAX coin and its future aspects let’s better understand how to buy AVAX in the UK. 

Ideally, you would want to purchase AVAX through a convenient and easy to use medium that provides low-cost fees and competitive rates for its users. 

eToro ticks all the boxes in this regard, making it the perfect platform to purchase AVAX from. Here are four quick and easy steps to buy AVAX on eToro now. 

Step 1 – Open an eToro Account 

Visit the eToro site and complete the quick signup process. You will need to provide a username and your email address and create a password for the site. Click on ‘Create Account’ to confirm your account registration. 

You can also sign up via the eToro app – available on iOS and Android. 

Step 2: Verify Your Account 

In the UK, eToro is tightly regulated by the FCA – requiring all users to complete a mandatory verification process. Go to the ‘Complete Profile’ section and complete the quick KYC process. You will be required to insert your details (e.g. –  Full name, DoB), provide proof of address (e.g. –  bank statements) and a photo ID (e.g. – passport). 

After eToro confirms your verification, you can move on to the next step. 

Step 3: Make a Deposit 

While most countries have a minimum deposit amount of $50, you can begin trading with just a $10 deposit in the UK. Click on “Deposit Funds” and choose from the various payment methods. eToro allows you to buy cryptocurrencies using a Credit/Debit card, online banking, bank transfer, Neteller, Skrill or Paypal. Insert the amount and click on “Deposit”. 

Step 4: Buy AVAX

Once the money is credited to your account, search for AVAX on the “discover” tool on the eToro search bar. Click on “Trade” and insert the amount of money you want to invest. Confirm your purchase by clicking the “Deposit Now” option. 

 How to Sell AVAX

After enjoying a price increase, many investors will be interested in knowing how to sell AVAX. Using eToro, you can achieve this in just a few simple steps. 

Click on the “Portfolio” section on the eToro portal and select AVAX. If you have opened various positions, you will see the entire list on the page. Click on one of the positions and click on the red “X” button for the position you would like to close. 

Finally, click “Close Trade” to confirm the sale of your AVAX holdings. 

Conclusion

This guide has discussed where to buy AVAX coin in the UK. We have covered all you need to know about the coin’s prospects and the Avalanche blockchain’s functionality. AVAX coin is the driving force behind the network’s security and high-scaling capabilities, making Avalanche a strong coin to buy now, according to some analysts. 

Buy AVAX using eToro now.  

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

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