The cryptocurrency market is full of surprises. Of particular interest among the sensations of the outgoing year was the rapid growth of the AVAX coin. Since it was added to the listings of the leading exchanges in the fall of 2020, the price of the asset has risen by more than 3000%.
What is interesting about the Avalanche project
AVAX is the native token of the Avalanche platform launched in 2020. The platform supports smart contracts and decentralized applications. On the basis of Avalanche it is possible to create your own financial subnets and create assets of different types. In addition, any applications already functioning on the basis of Ethereum can be easily transferred to the platform.
Avalanche is in many ways similar to Ethereum, but even more like its updated version of Ethereum 2.0, which is scheduled for implementation in 2022. The main differences between a young platform and a veteran of the cryptocurrency market relate to speed and scalability, the most problematic characteristics of Ethereum.
The speed of the Avalanche blockchain is now estimated at 4.5 thousand transactions per second.
Is AVAX a good investment
The AVAX token operates on the basis of the Proof-of-Stake algorithm. New coins are freed up through staking and this is undoubtedly less expensive compared to the prospects for mining Litecoin in 2022.
Another fundamental difference from ETH is deflation. The offer is limited to 720 million coins. An additional deflationary factor is the burning of transaction fees.
Much of the coin’s current success is due to the violent emotional reaction to the announcement of Ava Labs’ partnership with Deloitte. So far, analysts are quite optimistic, predicting stable growth for the coin in the long term.
However, before investing in AVAX, it is worth considering that the future fate of the coin largely depends on the development of events around Ethereum.
How to change USDT to AVAX
Binance was one of the first exchanges to include AVAX in their offer lists. The token is now traded on many of the leading traditional cryptocurrency exchanges and is available for purchase with fiat and some cryptocurrencies, including USDT.
The stablecoin USDT is often used as an intermediary currency for buying other altcoins. That is why the AVAX / USDT trading pair is available on all platforms that support both coins.
Among the main disadvantages of acquiring AVAX on traditional exchanges are:
- The need to register and verify your account.
- Limited choice of exchange rates.
- Exchange fees.
It is much more convenient to exchange USDT to AVAX on the LetsExchange instant exchange platform. First of all, you don’t have to waste time creating an account. An exchange widget is available on each page of LetsExchange and you need to consistently fill in its fields:
- In the upper field, select USDT for sale and indicate the amount of the transaction;
- Select AVAX for purchase in the lower field;
- Indicate the address of your crypto wallet;
- Deposit coins.
- Press the “Exchange” button.
The system automatically scans the current offers and analyzes them, after which it will offer you the best deal. After confirming the application, the transaction is completed and the purchased coins are credited to your wallet. The exchange takes a matter of seconds. The platform works without fees and any restrictions on the number and amount of swaps.
LetsExchange is always fast, extremely safe and profitable.