How to Buy Waves in 2020: Buy, Sell & Trade

Developed in Russia and launched in 2016, Waves is an innovative high speed blockchain that’s raced up in value at the start of 2020. 

Where to buy Waves

Read on to find out more about Waves in 2020 or skip ahead to our step-by-step buyers guide if you’re up to speed and ready to invest in Waves.

eToro
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Accepts customers from the USA
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Key Features
Accepts customers from the USA
Award-winning Cryptocurrency trading platform
Wide variety of crypto assets
One of the fastest growing brokers in the world
Top Coins
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eToro is a multi-asset investment platform with more than 2000 assets, including FX, stocks, Crypto, ETF’s, indices and commodities. eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.
CEX
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Margin Trading
Legal compliance
Advanced Reporting
Various Payment options
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$200
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Key Features
Margin Trading
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Credit Card, Debit Card, Wire Transfer, Cryptocurrencies
Cex.io offers exchange of fiat currency for Bitcoin and Ethereum, as well as Bitcoin/Ethereum trading against the USD.
FOREX.com
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Trade on popular Crypto markets
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Payment Methods
Debit Card, Bank Wire, ACH, Credit Card, PayPal
Founded in 1999, part of GAIN Capital Holdings. Licensed in highly regulated juristictions, FCA, IIROC, NFA, CFTC, CIMA,FSA. Payment methods ACH, debit card, bank wire transfer. $50 minimum deposit.
Forex trading involves significant risk of loss and is not suitable for all investors.
Bittrex
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One of the largest cryptocurrency exchanges
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Min Deposit
$1
United States
Key Features
One of the largest cryptocurrency exchanges
High volume across all pairs
Perfect for large and small buyers/sellers
Top Coins
  • Bitcoin
Payment Methods
Credit Card
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Binance
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Huge range of cryptocurrencies
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Min Deposit
$1
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  • Bitcoin
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Cryptocurrencies
Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

What is Waves?

As usual with cryptocurrencies, it’s worth distinguishing between the platform and the currency, not least because, in this case, they’re both called Waves.

Waves is a cross-platform trading solution that was developed with the aim of allowing users to create and launch their own custom cryptocurrency tokens. While transactions on the platform can be conducted with a chosen currency, any fees associated with a transaction must be paid using Waves tokens.

How does Waves work?

Like many other cryptocurrencies, Waves is a decentralised, blockchain-based platform that stores transactional data on a ledger. What differentiates the Waves platform is the aim at the heart of the project: To enable the creation of custom tokens for a wide range of services and projects.

The platform is said to make custom token creation uniquely straightforward and accessible, which, if true, could give it the edge over rival cryptocurrencies like Ethereum.

Essentially, Waves has been developed to extend the benefits of fast, decentralised blockchain functionality to a broad usership of developers and businesses.

How to buy Waves online – step-by-step guide

Step 1. Get a suitable wallet

A wallet allows you to store your Waves securely. It’s a good idea to have one ready before you invest so you’re able to transfer your freshly acquired Waves off the exchange and keep them safely stored. There are a few good options on the market, including:

  • Ledger Nano X: Ledger Nano X is a hardware wallet, which means you can store your Waves (along with a multitude of other cryptocurrencies) offline on a super-secure wireless device. 
  • Waves Wallet: The official Waves mobile wallet is available for iOS and Android. It’s connected to Waves blockchain as well as other blockchains via secure built-in gateways. This means you can also trade other crytos including BTC and ETH. 

Step 2. Find a Waves exchange

There are plenty of exchanges on offer if you want to buy and sell Waves. Each has advantages and disadvantages, so it’s a good idea to do a bit of research. To get you started, here are two of our favourite Waves exchanges: 

  • Binance: Widely considered to be the best, most dependable place to buy crypto, Binance is the world’s biggest crypto exchange. It offers a huge crypto marketplace and fees that compare favourably with its main competitors, plus a well-designed mobile app.
  • Changelly:  Changelly combines slick, highly convenient design and speed. Fees are 0.5%, which is a touch higher than many exchanges but that doesn’t feel extortionate given the quality of the platform.
  • Waves.Exchange: Launched in December 2019, Waves.Exchange replaces Waves DEX, the platform’s previous exchange. Thanks to its decentralised nature, Waves.Exchange offers excellent security. Apart from its native currency, Waves.Exchange supports a huge range of other cryptos as well as Fiat-crypto trading.

Step 3. Withdraw your Waves

It’s a good idea to secure your Waves by moving them off the exchange and into your wallet as soon as possible. To withdraw your Waves to your wallet you need to generate an address then paste it in the relevant field of your exchange account. 

How to trade Waves – step-by-step guide

If you’re only interested in trading Waves you needn’t worry about getting a suitable wallet because trading involves taking a position on a currency rather than actually buying it. This means you can potentially make a profit from Waves without the hassle and security risk of owning it. 

Step 1. Find a broker

Waves is pretty new to the market so you may struggle to find a trading platform that supports it. This looks like changing pretty fast given its recent market performance, so you shouldn’t have to look for too long. Plus500 and eToro are two of the most popular crypto trading platforms. 

Step 2. Deposit money

Most trading platforms will allow you to deposit Fiat money (USD, GBP, EUR etc.). It’s worth noting that trading platforms offer leveraged trading, which means you don’t have to put down the full value of a trade. Instead you can pay a deposit, known as a ‘margin’. This means you can potentially make bigger profits and, of course, bigger losses.

Step 3. Decide how you’d like to trade

There are two methods to trade cryptocurrencies: CFDs (contracts for difference) and Spread Betting. Both methods essentially entail speculating on the price movements of your chosen currency. If you aren’t sure which option to go for, we recommend researching the differences between spreads and CFDs.

Step 4. Start trading 

If you’re a complete novice we recommend starting with a demo account and familiarising yourself with the process and the platform. Cryptocurrency trading is extremely volatile, which means you can make and lose money very quickly. Cryptocurrencies are prone to fluctuation, which makes them intriguing prospects for traders who look to exploit volatility.

As a crypto trader you’re speculating on your currency’s price movements by taking a short (sell) or long (buy) position. If you think Waves will fall in value you should take a short position, if you think it will rise in value you should take a long position.

You may choose to incorporate leverage into your trading strategy. Leveraged trading allows you to put up a fraction of the trade’s value as a deposit or ‘margin’. This can be risky, though, so make sure you have a stop loss in place for damage limitation.  

Still undecided?

Pros of Waves
  • Waves benefit from extremely rapid network speeds
  • Custom token creation is a novel feature and works well with crowdfunding
  • Feeds are competitive
  • Has its own decentralised exchange
Cons of Waves
  • Waves smart contracts aren’t as complex as Ethereum’s
  • KYC/AML is needed to deposit and withdraw fiat money
  • It’s still early days
By Harry Atkins
Harry joined us in 2019 to lead our Editorial Team. Drawing on more than a decade writing, editing and managing high-profile content for blue chip companies, Harry’s considerable experience in the finance sector encompasses work for high street and investment banks, insurance companies and trading platforms.

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