Invezz is an independent platform with the goal of helping users achieve financial freedom. In order to fund our work, we partner with advertisers who compensate us for users that Invezz refers to their services. While our reviews and assessments of each product on the site are independent and unbiased, brands may pay to appear higher up our table rankings or place ads in specific areas of the site. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. Read more about how we make money >
How to buy Waves online
Learn everything you need to know about Waves right here. Get the lowdown on whether to invest in it, compare the best trading platforms, and follow a step-by-step guide to buying your first coin.
Compare where to buy Waves, and open an account
A broker platform is one of the easiest ways to get your hands on cryptocurrency. The options below are all ideal for beginners and you can get started in a few minutes by clicking the links in the table. If you aren’t ready for that yet, keep reading to learn more about Waves first.
How to buy Waves online – a step-by-step guide
Step 1. Find an exchange
A cryptocurrency exchange gives you the best prices on most coins. An exchange is like a marketplace where buyers and sellers come together and deal with each other directly. That means you can get the best value on almost any coin you might be interested in.
A couple of the top exchanges around that offer Waves are:
- Binance: Binance is the largest and most popular cryptocurrency exchange. It has a wide range of coins available, alongside some extensive learning material to guide you on your way. Start using Binance now >
- KuCoin: KuCoin is another beginner-friendly exchange. It lets you make small trades on an extensive list of cryptocurrencies, so it’s a great place for anyone new to the industry to start. Sign up for KuCoin today >
Step 2. Sign up and fund your account
To use any of these exchanges, you have to set up an account first. To do this you need to provide your contact details, like a name and some personal information, along with a form of photo ID for verification. It’s difficult to avoid supplying ID these days, as it’s part of more extensive anti-money laundering regulations that exchanges have to abide by.
Once you’ve done that then you need to deposit some money into the account. A bank transfer is the best, and cheapest, way to do so but it is normally possible to pay with a debit or credit card as well. Just expect to pay a fee, which can range from 3-5%.
Step 3. Purchase
To buy the coin itself, you first need to search for it using its unique symbol. In this case, it’s fairly straightforward because the symbol is the same as the coin name: WAVES. Then choose one of the pairs from the list of results.
You may notice that none of the pairs include a fiat currency, and the only way to pay is with cryptocurrency. Don’t worry, the easiest way around this issue is to use your GBP or USD to buy Bitcoin and then exchange that for Waves. Once you’ve decided how many coins you want and executed the trade, your new cryptocurrency will be added to your exchange wallet.
Step 4. (Optional) Get a suitable wallet
You can leave your coins on the exchange, or you can use a dedicated crypto wallet to store them. A wallet is an independent app, website, or physical device that protects your coins behind a unique password. Here are two of the top wallets around:
- Ledger Nano S: The Ledger Nano S is a hardware wallet, which is a device like a USB stick. You store your coins on the device then plug it into a computer in order to access them. Get the Ledger Nano S >
- FreeWallet: FreeWallet is an online wallet that lets you store and manage your coins from your web browser, desktop, or mobile app. Join FreeWallet >
How to trade Waves – a step-by-step guide
Step 1. Find a broker
Trading Waves refers to the practice of buying and selling it frequently to take advantage of small changes in price. The best way to do this is by using CFDs, which are assets that represent the price of the coin. Some brokers let you trade crypto CFDs, although not many offer Waves at the moment.
Step 2. Create an account and deposit money
Setting up an account with a broker is much like on an exchange. You need to supply some contact details and ID in order to start trading. There are, however, many more payment options with a broker; you can normally pay by bank transfer, card payment, or an alternative method like PayPal or Google Pay.
Step 3. Learn about technical analysis
Price analysis is how most day traders decide on what to trade and when. By studying how a price has moved in the recent past, you can see patterns that hint at how it might perform in the future.
This form of research is known as technical analysis. Each trader uses a different set of indicators to inspire their decisions, so it’s a good idea to read up on all the different types of bases and trends so you can pick out what works best for you.
Step 4. Decide whether to go long or short
You can use CFDs to predict that a price is going to move up or down. This is different to buying coins on an exchange, where you can only benefit from an increase in price. You can buy (go ‘long’) or sell (short) with CFDs, and you should use your technical analysis to decide which one is appropriate at a given time.
Step 5. Make the trade
Search for Waves by typing its name into the search bar when signed into your broker account. There are two prices for each coin that represent the cost of buying or selling it. Choose the right one, put in how much you want to spend, and then execute the trade. After that it will show up in the open positions part of your account.
Should I invest in Waves?
You might want to if you’re looking for a platform that offers similar benefits to Ethereum at a cheaper price point. It also has some unique features of its own, that makes it easier to create and trade tokens and build advanced applications.
Owning the Waves token itself gives you a stake in that platform but it also gives you the opportunity to earn some extra money. Waves owners earn a portion of the transaction fees from other coins made on the platform.
That means Waves could be an interesting opportunity if you want to hold it for a long time or have the expertise to stake it. Or simply if you think that its ability to make cryptocurrency approachable to more people sets it up well for the future.
If you haven’t made up your mind yet and want some more information before you reach a final decision, we can help. Below are the most important pros and cons of the Waves platform, followed by some more questions to help you decide.
- Makes it easier for anyone to set up their own cryptocurrency token
- Has a wide range of uses, including the ability to build games and NFTs on the platform
- Can use the Waves token to earn extra rewards
Now here are some final points to consider before you invest in Waves.
1. Is now a good time to buy Waves?
That depends on how long you want to hold it for and the cryptocurrency market as a whole. It’s often a good idea to avoid buying during times of volatility, and if you’re going to hold the coins for a while, wait for a day where the prices are settled.
However, if you’re planning to trade the coins frequently then an active, volatile market can work to your advantage. Your decision to buy should still be based on the results of your technical analysis, but there are often more opportunities at busy times. You can see what our team of analysts thinks through the links below, and use their advice to help you.
Waves, PotCoin, Theta price analysis roundup
Waves (WAVES) price analysis for March
Tezos, Waves, UMA price analysis roundup
2. What problem does Waves solve, and what are its investment prospects?
Waves makes it much easier to create cryptocurrency tokens by removing the barriers to entry that normally exist. A developer can use Waves to build an application or release their own coin without having to learn extensive coding language.
Beyond that, Waves offers a similar service to many other platforms. Ethereum is the most well-known but there are lots of alternatives, like Cardano, Polkadot, and Tezos, that offer a variation on the same theme.
That’s going to make it difficult for any one of them to emerge as a big player in the crypto space. Especially as Ethereum itself continues to evolve and add new features. It may be that Waves is able to differentiate itself but you should keep an eye on the latest news to see how it tries to do so.
WAVES gains over 11% as the crypto market stages a fresh rally
Waves price analysis: is now a good time to buy this cryptocurrency?
WAVES jumps 10% after Bitfinex listing; Plunges soon afterward
3. Do you want to hold Waves for the long term?
Waves is generally well-suited to a holding strategy but there are times when it’s best to trade it quickly to take advantage of small changes in price. Here are some final thoughts about what to do, whichever approach you decide to take.
Considerations for a long term investment strategy
If you like Waves and want to hold it for a long time, you should sign up to an exchange straight away to get the coins. Then think about using a wallet to store them, because that offers a bit more security than leaving them in your exchange account.
Considerations for a short term trading strategy
To trade Waves in the short term, you want to sign up for a CFD broker with low trading fees. Then learn how to perform technical analysis to predict fluctuations in price.
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >