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How To Buy Avalanche (AVAX) and Everything You Need To Know

11 mins
Updated by Ryan Glenn
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Avalanche, a decentralized blockchain platform focusing on performance and interoperability, is a significant crypto player. As one of the top 25 cryptocurrencies by market cap, AVAX, Avalanche’s native coin, boasts a decent global following. However, should the credibility and popularity lead you to buy avalanche (AVAX)?

In this guide, we explore everything of relevance when it comes to buying AVAX in 2023. From detailing Avalanche’s operation to comparing it with other popular crypto players, here’s what you need to know.

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Methodology: How we chose the platforms to buy AVAX

Understanding Avalanche (AVAX)

Before you set aside funds to buy avalanche (AVAX), let us delve deeper into the blockchain itself.

What is Avalanche?

Avalanche (AVAX) is a layer-1, EVM-compatible blockchain that facilitates DApp development. Its unique consensus mechanism is inspired by proof-of-stake, adding to the decentralization quotient of the platform. The ecosystem is known for its quick transaction finality, high throughput, and low transaction fees.

Avalanche interface: Avax
Avalanche interface: Avax

Avalanche is often deemed an Ethereum killer due to its DApp spread and the ability to host smart contracts. As for the brain behind this blockchain ecosystem, we cannot thank the founder, Emin Gun Sirer — a Professor at Cornell University — enough.

Did you know? Avalanche’s consensus mechanism is known as the “Avalanche Consensus” and employs the Direct Acyclic Graph (DAG) protocol.

How does Avalanche work?

Avalanche’s operation hinges on the availability of three built-in blockchains. Firstly, there is the X-Chain for asset creation and trades. Secondly, there is the C-Chain, focusing on DApp deployment. And finally, there is the P-Chain, which comprises validators and tracks subnets.

As Avalanche employs a version of DAG, subnets help keep the network secure. Subnets also help developers host other blockchain platforms on top of Avalanche. 

AVAX global rank: CoinMarketCap
AVAX global rank: CoinMarketCap

There are several reasons why Avalanche is one of the more popular EVM-compatible blockchains. These include:

  • High speed and scalability with the ability to handle almost 6,500 transactions per second
  • Low transaction fees
  • The ability to create interoperable and customizable blockchains
  • An extensive DeFi presence with Avalanche ranked 5th in terms of DeFi TVL
  • Driving institutional adoption
Buy Avalanche on checking the DeFi presence: DeFillama
Buy avalanche on checking the DeFi presence: DeFillama

It’s cool to see the world’s most innovative companies diving head-first into blockchain via @AVAX.

Jay Kurahashi-Sofue, VP of marketing at Ava Labs: Twitter

If these aren’t reasons enough to buy AVAX, read along!

A better understanding of Avalanche subnets:

Comparing Avalanche with other blockchains

Before you go ahead and buy avalanche, let us compare and see how the layer-1 chain compares to some of the bigger names in the crypto space:

Avalanche vs. Solana

The most important difference between these two chains involves the consensus mechanism. While Avalanche relies on a DAG-powered PoS consensus, Solana is built on top of the proof-of-history (PoH) consensus. Solana also boasts a higher throughput, close to 65K transactions per second, compared to Avalanche’s 6,500.

Avalanche vs. Cardano

When compared to the EVM-compatible Avalanche, Cardano relies on Haskell Programming, which is not as common within the blockchain space. Also, Cardano is known as a research-heavy blockchain, whereas Avalanche relies more on rapid development and community governance.

Avalanche vs. Ethereum

Avalanche boasts faster transaction finality — under two seconds — compared to Ethereum. However, Ethereum looks better regarding network inflation, which is under 0.3% post-PoS. Avalanche, on the other hand, has a network inflation rate of almost 3.93%.

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User testimonials:
User testimonials: Avax network

Avalanche wallets & MetaMask integration

If you wish to buy avalanche, you must make it a point to store it safely. To do so, you can rely on different wallets, including the official avalanche Wallet, MetaMask, third-party wallets like the Trust Wallet, and also the compatible hardware wallet.

While MetaMask is one of the most commonly used wallets, knowing how to add Avalanche to MetaMask is useful. The process is straightforward: you simply need to click on the dropdown icon on top and set the Avalanche C-Chain as the preferred network. Once done, you can import AVAX directly to MetaMask and even use the currency for transactions. 

Where to buy avalanche? Top 5 platforms

  • Binance: With its market-leading liquidity, Binance ensured our AVAX purchases were seamlessly executed at predictable prices. We faced minimal slippage when buying, thanks to the abundance of buy/sell orders. Binance’s intuitive interface also made navigating the purchase process pretty straightforward. Additionally, Binance’s Earn feature enabled us to instantly stake the AVAX we purchased, allowing convenient and quick interest earning on our new assets.
  • Coinbase: For U.S. buyers, Coinbase provides peace of mind thanks to robust security and compliance with local regulations. We found purchases easy, especially on the mobile app. Switching to Coinbase Pro granted a more advanced trading experience with lower fees. The exchange’s learning rewards program fosters a learning environment that motivates users to acquire knowledge while simultaneously earning rewards.
  • KuCoin: KuCoin’s broad selection of cryptocurrencies, including a variety of altcoins, greatly expands your investment options. The platform impressed us with its accessibility, especially for purchasing AVAX in regions where other exchanges restricted our access. Additionally, KuCoin’s simple and intuitive user interface streamlined the transaction process, making it relatively effortless.
  • Kraken: Kraken enables control over buy prices through efficient order types like market and limit orders. The platform’s robust security features and a comprehensive suite of financial products, like futures, were particularly impressive — more so if you are interested in advanced trading strategies. We found Kraken’s detailed trading view charts to be quite handy for making informed purchase decisions. Another feature we particularly enjoyed is Kraken’s granular reporting capabilities, which makes tax compliance a more manageable task, especially for traders dealing with substantial trading volumes or complex portfolios.
  • Bitfinex: Bitfinex has the fifth-highest trading volume for AVAX, according to CoinMarketCap. It offers a high-quality trading experience given its liquidity and advanced interface. In fact, our experience with it was top-notch due to the simple yet feature-packed interface and trading desk. Although geared towards pro users, the powerful charting tools on the platform can be really helpful with formulating strategies once you conquer the learning curve.
Why we chose these platforms

The platforms mentioned above are all reliable choices when seeking to acquire avalanche (AVAX). You might want to consider Binance first and its AVAX/USDT pair due to its high trading volume and excellent liquidity. Once on the exchange, you can start buying or swapping AVAX as soon as you are KYC verified.

Regardless of which you choose, each of our endorsed platforms prioritizes robust security features. Always remember not to leave your coins on an exchange after purchasing, and prioritize crypto wallet security at all times.

If you’re looking to buy avalanche anonymously, you could also choose a decentralized exchange (DEX). While not always as easy to use as their centralized counterparts, solid DEX offerings include Uniswap and dYdX.

How to buy avalanche (AVAX)? And how to sell

Buying and selling AVAX is simple. The easiest way to buy AVAX is to onboard one of the leading crypto exchanges.

 CEXs: Coinmarketcap
Buy avalanche from CEXs: CoinMarketCap

To sell AVAX on an exchange, you simply need to hit sell. However, if you have AVAX coins on MetaMask or an external wallet, you need to withdraw these to an exchange before selling. That, however, will cost you some network fees. Apart from CEXs, you can also rely on decentralized exchanges to buy and sell AVAX.

How to buy AVAX: Demo

For this step-by-step guide, we show how to buy Avalanche on Coinbase.

1. Firstly, open up the Coinbase app and select “Trade.”

buy avax step 1

2. Secondly, select the amount of AVAX that you would like to purchase to continue.

buy avax step 2

3. Lastly, select “Place Order” to confirm your order.

buy avax step 3

How to buy avalanche with a credit card

To buy avalanche with a credit card on Coinbase, verify your account, link your card, select AVAX in the “Trade” section, enter the purchase amount, and confirm. Your card will be charged, and AVAX will be added to your wallet. It’s important to remember that credit card transactions may involve additional fees, so it’s essential to review the terms and conditions before proceeding for a seamless transaction experience.

How to sell AVAX

1. Firstly, open the Coinbase app, select trade, and choose AVAX.

sell avax step 1

2. Select the amount of AVAX that you would like to sell.

sell avax step 2

3. Lastly, press place order to confirm your transaction.

sell avax step 3

Is AVAX a good buy?

Our AVAX price prediction shows that Avalanche has the potential to reach the three-figure mark over time, provided the market conditions turn. Plus, the AVAX coin is currently trading at a 93% discount to its all-time high of $146.22. Also, with the DeFi ecosystem growing, AVAX does look like a decent buying option.

AVAX price action: Coinmarketcap
AVAX price action: CoinMarketCap

Is AVAX a long-term investment?

If you want to buy avalanche in 2023, it is better to consider the crypto a long-term investment. With the market still in the bearish zone and most cryptocurrencies languishing at the bottom, it might take AVAX some time to move out of its sideways price action. Therefore, traders might have to account for heightened volatility at the counter. 

Frequently asked questions

Where can I buy avalanche Crypto?

How can I buy AVAX in the U.S.?

How to buy AVAX cheap?

Can AVAX hit 1k?

How high can AVAX go?

Which is better, Solana or Avalanche?

Is AVAX risky?

Is AVAX better than Cardano?

Why is AVAX so popular?

Top crypto platforms in the US | February 2024

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Ananda Banerjee
Ananda Banerjee is a technical copy/content writer specializing in web3, crypto, Blockchain, AI, and SaaS — in a career spanning over 12 years. After completing his M.Tech in Telecommunication engineering from RCCIIT, India, Ananda was quick to pair his technical acumen with content creation in a career that saw him contributing to Towardsdatascience, Hackernoon, Dzone, Elephant Journal, Business2Community, and more. At BIC, Ananda currently contributes long-form content discussing trading,...
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