Aave is a decentralised financial protocol that lets people borrow and lend cryptocurrency.
Aave has several unique advantages over its competitors in an ever-growing market. During the DeFi craze in the summer of 2020, it was one of the biggest projects in terms of the total value of the cryptocurrency registered in its protocol.
The project lets people take and issue loans in about 20 cryptocurrencies, which means users have a wide choice to pick from. One of Aave's flagship products is 'Flash Loans', which were presented as the first unsecured loan option in the DeFi space.
Another important argument in Aave's favour is that people who take loans through the protocol can alternate between fixed and variable interest rates. While fixed rates can provide some confidence in spending during periods of volatility in cryptocurrency markets, variable rates can come in handy if the borrower thinks prices will fall in the near future.
Aave was first called ETHLend when it was launched in November 2017, but was later rebranded to Aave in September 2018. This helps explain why this token's ticker is so different from its name.
AAVEUSD's average intraday volatility is 5.4%.
How to buy and sell AAVEUSD
You can buy and sell AAVEUSD on specialised cryptocurrency exchanges, but the best way to trade it is through a broker or trading platforms, such as MetaTrader 4 or Libertex, where trades are easier to make, leverage can be used, and you can even earn if the cryptocurrency's value goes down.