What is Aave (AAVE)?
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Written by Ignat
Updated over a week ago

Aave is a decentralised finance protocol that allows people to lend and borrow crypto. Lenders deposit assets into liquidity pools to earn interest and borrowers take out loans by using this liquidity pledging their crypto as collateral. Those who borrow through Aave can alternate between fixed and variable interest rates. While fixed rates can provide some certainty about costs during times of volatility, the borrower might choose to select a variable rate if they think the price will fall in the near future. The project predates DeFi.

AAVE holders receive discounted fees on the platform and have a say in the future development of the protocol. AAVE can also be staked to earn rewards.​​

Check out this article to choose the most convenient way to buy cryptocurrencies, including AAVE.

NB: For AAVE transfers, Cryptopay supports ERC-20 network only. All the funds sent via other networks (e.g. BEP-20 etc.) will be lost forever.

In compliance with the Financial Promotion Act which came into force on 8 October, 2023, at 8 AM UTC, some account functionality is temporarily limited for the Cryptopay customers with verified UK residency.
Check what services are available: Service availability in the UK

The world of crypto is vast and intricate - if you feel overwhelmed, check out Cryptopay Learn. It is a perfect place to start for beginners trying to understand the basics of crypto. For more experienced crypto enthusiasts, this is also an excellent opportunity to brush up on their knowledge. The more you learn, the more you earn!

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