I have been following Avalanche for quite some time. Whether you are new to cryptocurrency or an experienced investor, keep Avalanche in your sight. It is one of the best cryptocurrency for investing.
Avalanche is a cryptocurrency, blockchain, and smart contract platform. It supports decentralized applications (dapps) and autonomous blockchains. It was built primarily to serve financial markets.
In simple words, Avalanche is a platform of platforms. Anyone can create an app and a new cryptocurrency coin.
What is avax coin?
Avax coin is the native currency of the Avalanche Blockchain with a maximum capped supply of 720 million. Like the Bitcoin, Avalanche runs on the deflationary model. After it reaches the total supply, no new avax coins will be minted. Currently, the supply stands at 396 million. After it arrives at 720 million, the price will grow swiftly.
Avalanche cryptocurrency live price today as of 1st April 2022:
AVAX to INR – 7120 INR
AVAX to USD – 93.26 USD
Why should I buy the avax coin?
Here are a few reasons you must consider investing in the avax cryptocurrency.
1. Fastest smart contracts platform:
Top cryptocurrencies take time to achieve transaction finality. But Avalanche is faster than them.
Bitcoin – 60 minutes
Ethereum 2.0 – 6 minutes
Polkadot – 1 minute
Avalanche – Less than 2 seconds
This is how fast Avalanche actually is.
2. Lower gas fees than most competitors
3. Faster transaction speed per second:
Bitcoin – 4.6
Ethereum – 15
Polkadot – 1000
Avalanche – 4500
Again, avalanche is fast and can scale better than its competitors.
What is the use case of avax coin?
Here are a few use cases of this coin for regular investors.
1. Paying transaction fees across the network
2. Staking avax coin to earn rewards (more avax coins)
3. Paying fees for creating and minting assets (NFTs)
4. Lending on different platforms to earn interest
How can I buy avax coin in India?
There are many cryptocurrency apps in the market where you can purchase the avax coin. However, I believe the best cryptocurrency apps in India are these 2 platforms that I have been using – Binance and WazirX. These are easy-to-use platforms, and I have never faced problems while depositing or withdrawing my money.
Here are the basic steps you must follow on each cryptocurrency app.
1. Sign up
2. Add a Bank account
3. KYC verification
4. Deposit INR/USD in your wallet.
5. Start trading
Avalanche avax price prediction:
In 2021, Avalanche grew from 275 INR to 8500 INR, a 3039% increase. If you invested INR 2750 and bought 10 avax coins, their value at the end of the year would become INR 85,000.
In 2022, the cryptocurrency market is going through a bear phase. AVAX coin has fallen to INR 7150 today. Hence, price predictions have taken a severe hit. However, if you believe in the future of the avax coin, I see this coin end the year between INR 9500 – INR 10,500 (30 – 50% growth.)
FAQs:
1. Is cryptocurrency legal in India?
Yes, cryptocurrency is legal in India. From 1st April 2022, if you buy any digital currency, you will incur a 30% + 1% TDS cryptocurrency tax in India.
2. Can avax cryptocurrency be converted to cash in India?
Yes. You can buy avax on multiple currency exchange platforms in India. These platforms support buying the avax coin in INR.
4. Which is the best research tool for cryptocurrency online trading?
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Quite informative and insightful information, Thank you for sharing.
Thanks for reading Swati.
Woww this is quite detailed and works for even people like me who are new into the crypto world
I am glad you found this insightful!
Blockchain and crypto are huge. I am sure they will become more mainstream in the coming few years. This is a very informative article.
#A2ZChallenge
Indeed Pradeep. It is the future. Thanks for stopping by.
I too am gettin to understand the new mode. Its good to know the features of Avalanche Avax coins. I am going to consider this as one of the options.
That is great to know Nidhi!
I had very less Idea about crypto and other currencies. This post is really very informative and easy to understand for novice like me. Very detailed post.
Thank you Pamela
This post was quite informative and insightful as I had no prior knowledge about this topic.
Thanks for reading!
This is really new to me. For me till now cryptocurrency meant Bitcoins. However, this post has opened my eyes and made me aware of Avalanche which seems to be a good option for cryptocurrency investors.
Hey Sandy, there are tons of hidden gems which will be part of this series with a few coins that jumped by 150,000% in 2021. Stay tuned!
Honestly speaking even though Crypto is huge at the moment, I have not explored it much. Will surely keep Avalanche in my mind when I do get into it. Thanks for this detailed article explaining about Avalanche.
Hey Raksha, it is the future and the sooner we invest in it, the better!
That is quite a lot of information about Avax coins and Avalanche. Cryptos are the future and this one surely helps in understanding a bit of them.
Hey Amrita, I am glad you found this interesting.
Thank God for posting such an easy article on this topic! I have to admit I just don’t understand crypto currency. But this is in and I wanted to learn! Gratitude!
Hey Bedabrata, there are 25 more posts pending on this topic. Stay tuned! I have put up 6 posts until now. Perhaps you can check them out as well.