How to Buy Aave (AAVE)

One of an emerging number of decentralized finance (DeFi) protocols, Aave programmatically accepts crypto deposits from users and lends them out to borrowers, all without the need for a traditional financial intermediary. 

Built on top of the Ethereum blockchain, Aave is a blend of lending pools where users can earn income by supplying crypto assets to its software.

Not sure yet why you’d want to buy AAVE? Feel free to read our ‘What is Aave?’ guide, which offers a more extensive breakdown of the project’s technology and vision. 

Holding AAVE, Aave’s native cryptocurrency, grants users the ability to vote on network upgrades. 

There are a number of ways to buy AAVE. However, many find that it is easiest to purchase it through a trusted global exchange like Kraken. 

Aside from offering the lowest fees in the industry, Kraken is constantly rated one of the most secure and trusted crypto exchanges in the world. This matters because if you lose the private key to your AAVE, it can be challenging if not impossible to recover your funds. 

At Kraken, we take security seriously, with tested technology and rigorous procedures designed to safeguard funds. We don’t cut corners when it comes to security, and neither should you.

Follow the steps below to start buying AAVE on Kraken: 

1. Sign up for a Kraken account.
   First, enter a valid email address, create a new username and set a strong password to protect your account.

2. Verify your account. 
   After providing your name, date of birth, country of residence and phone number, you can buy AAVE with cryptocurrencies like BTC and ETH. In order to use fiat currency (i.e. USD or EUR), you’ll need to provide our experts with additional supporting documents verifying your identity. Read about our verification processes here.

3. Deposit fiat currency.
   You can fund your account in a number of ways. How you do so will depend upon your location and preferences.

4. Purchase AAVE!
   Once your account is funded with fiat, you’re ready to purchase AAVE. At this point, you’ll also gain access to our advanced charting tools, 24-hour global client support and the ability to utilize spot trading on margin*, features that help make the Kraken experience beloved by millions of global traders.

*Availability of margin trading services is subject to certain limitations and eligibility criteria.

Once you buy AAVE, you’ll need somewhere to safely store your cryptocurrency. 

Kraken is secure, but it’s always safest to keep your AAVE in a wallet, a software or hardware device that stores the public and private keys required to make crypto transactions.

Aave is a platform built on top of Ethereum, meaning AAVE can be stored in an Ethereum wallet, of which there are many. Mobile and web wallets can make transactions easy, while hardware wallets are perhaps best suited for secure, long-term storage. 

When choosing a crypto wallet for your AAVE, first spend some time thinking about what you plan to do with your tokens to find a wallet that fits your needs.

Ready to take the next step toward decentralized lending and borrowing? Click the button below to buy AAVE on Kraken today!