The AVAX coin, launched in 2020, has taken a high position in the ranking of the largest cryptocurrencies. Its capitalization exceeded $22 million, and the historical maximum price is $147.
What is AVAX?
AVAX is the Avalanche platform token for rewards and other payments on the network. In addition, AVAX also performs control functions.
The platform was launched by Ava Labs. Among the investors in Avalanche, it is worth mentioning Three Arrows Capital, Andreessen Horowitz, Galaxy, Dragonfly Capital, Bitmain, and Polychain.
The Avalanche platform offers users a technical base for the development and deployment of decentralized applications, smart contracts, as well as public and private subnets, including the crypto exchange white label. Using the Avalanche tools, users can create their own assets of various types, including non-fungible tokens.
Advantages of the Avalanche project
During the existence of the project, the platform has already managed to gain a good reputation. Users have appreciated the stable operation of the system and its high throughput. The undoubted advantage of the project is the presence of its own wallet. The best illustration of the current level of trust in the project is the high position of the coin in the rating, which maintains the high liquidity of the coin.
Analysts agree that AVAX has excellent prospects for further growth in the medium and long term. However, the theory does not always coincide with practice.
Against the backdrop of optimistic forecasts, the temptation can arise too quickly in wanting to convert ETH to AVAX. However, remember to be careful, because it is impossible to accurately recognize the future winner at such early stages of formation, especially during a crypto crash.
Before deciding to invest in AVAX, it is worth considering that the project has quite serious competitors. The Avalanche platform surpasses Ethereum in almost all key indicators, but how events will develop after the introduction of Ethereum 2.0. are not yet known. Any applications and projects based on Ethereum are technically easy to move to Avalanche.
On the side of the main expected competitor Avalanche – a reputation, proven over the years and universal fame. If the implementation of the new version is successful, Avalanche will remain in the shadows for a long time. In case of technical problems with Ethereum, its competitor will have additional chances.
How to convert ETH to AVAX?
AVAX is supported on many large traditional cryptocurrency exchanges. However, if you are considering purchasing a coin for long-term investment, you do not need to look for a traditional platform. ETH to AVAX is much easier to exchange via LetsExchange.
You do not have to waste time on registration and verification of an account, study the functionality of the platform. All you need is to consistently fill the exchange widget:
- In the upper field, select ETH 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 Smart Rate program automatically searches, analyzes, and compares the terms of available deals. After confirming the exchange request, the transaction is completed and the coins are credited to your wallet.
LetsExchange works without exaggerated commissions and any restrictions on the volume and number of transactions in any of the available directions.