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Crypto Blog: Coinberry

How to Buy Waves (WAVES) in Canada

Waves (WAVES) is a cryptocurrency with a market capitalization of over 700 million CAD. The Waves blockchain has a long history since 2016 of this foundation. With this history and significant market capitalization, it continues to attract the interests of general investors. Being scalable, eco-friendly, and open, it checks off all the boxes for an attractive crypto investment option for the average investor.

Why is Waves crypto popular?

You can find more than 19,000 cryptocurrencies out on the market, but how did Waves (WAVES) gain significant popularity among its competitors? What really makes it stand out from most other crypto coins and tokens?

First, it’s important to note you can actually make a new cryptocurrency through the Waves platform. With Waves’ own wallet, you can also store the new cryptocurrency you’ve created. Moreover, Waves has a built-in decentralized exchange, which means creation and trading of cryptocurrencies is now much easier and simpler.

In other words, Waves has helped accelerate the crypto market and its dynamic ecosystem by simplifying the process for the creation and exchange of cryptocurrencies. All of these happen without the need for different tools and third parties, which means developers can quickly build and deploy a project without worrying about collaboration and integration.

Aside from how Waves help enable the creation of new cryptocurrencies, this blockchain network also emphasizes decentralization, security, speed, scalability, and low-cost transactions. With all these features and upcoming upgrades, Waves (WAVES) has the potential to remain a significant player in the crypto market.  

Innovations in Waves crypto

Waves (WAVES) has positioned itself as a crypto focused on innovation that keeps up with the rapid development of the blockchain industry, as well as the evolving requirements of users and the entire WAVES ecosystem. Some of the innovations in line with that are:

  • Smart contract functionality
  • Waves Exchange protocol
  • Waves Enterprise (helps ensure high throughput, reliability, and scalability)
  • Better interoperability and integrations through the Gravity protocol
  • Frictionless access to the wider decentralized finance ecosystem through Neutrino

In addition, Waves’ technological features include the following:

  • A proof-of-stake consensus model (less energy intensive than proof-of-work which is still being used by Bitcoin and Ethereum)
  • Uses a protocol to improve blockchain scalability (protocol is called Waves-NG, which means next generation)
  • Waves-NG protocol that results in fast confirmations of transactions which happen within seconds

All these technological features plus the several functionalities make Waves a significant player in the blockchain world. We can see it as an “enabler” or a facilitator where it helps accelerate the further progress of the blockchain ecosystem.

Waves is all about making the lives of blockchain participants a bit easier. With its current features and ongoing innovations, participants can receive more empowerment and real savings in their crypto journey.

Is Waves crypto a good investment?

All those technological features and capabilities attract developers to build on the Waves’ platform. What about the investors? Do they see Waves as an investment that will bring significant returns in the near future?

General investors might not be aware of or not even interested in Waves’ technological innovations. Often, what they’re interested in is if Waves will continue to exist in the coming years and if in those years, Waves’ price will significantly increase. After all, investors put their money because they think or expect that the investment’s future value will indeed rise.

However, investing in Waves (or in crypto in general) is full of uncertainty, given the crypto market’s volatility. Also, cryptos’ prices are often easily affected by the following:

  • Government regulation
  • Public perception (especially if there’s a recent hack or scam)
  • Economic forces (poor economy might influence the public’s enthusiasm about crypto)

Even relatively small events, news, and rumors can significantly affect Waves’ price. It’s especially the case with media hype where it pulls more people to get interested in Waves and other cryptocurrencies.

If you’re a beginner, it’s good to know about cryptos’ volatility, often driven by media hype, government regulations, supply and demand, and sentiments and perceptions from investors and users. With this knowledge and awareness, you can better decide whether crypto investing is right for you. This will also help you make informed decisions whenever you buy, sell, or hold crypto.

How do beginners invest in WAVES and other cryptocurrencies?

If your decision is to start your crypto investing journey as soon as possible, and perhaps buy Waves (WAVES) or other popular cryptocurrencies, it’s good to learn how to do it right and in the fastest and easiest way possible.

One such way is by signing up to a major cryptocurrency trading platform. It’s like an online marketplace where buyers and sellers trade crypto. The trading platform’s role is to facilitate transactions and make it easy for investors to access their funds and investments.

For example, many Canadians are using Coinberry (with more than 220,000 Canadians already signed up). In this easy to use platform, beginners have been able to buy several cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, and Cardano.

Aside from using a crypto trading platform, it’s also good to learn how to do crypto investing in a smart way. For example, it’s highly recommended to start with the smallest amount possible (e.g. here at Coinberry you can buy some crypto for as little as 50 CAD). This is to minimize your risks and to further encourage you to get started right away and finally know what crypto investing is all about. Perhaps you’ve been hearing about crypto for years now, but never got the chance to finally invest in and explore cryptocurrencies. But once you’ve realized that it takes little to get started, it’s easy to break into the crypto investing market.

Aside from starting small, once you get comfortable with crypto investing, it’s also good to spread your risks and make investing as automatic as possible. This way, you won’t have to think about it regularly while you slowly and gradually build your crypto investments. When you consistently buy small amounts of crypto each week or each month, you avoid the potentially huge losses because the risks have spread out over time.

It’s also good practice to know your several different options when it comes to crypto investing. This way, you can compare their features and prices and then make investing decisions based on that information. If you want to learn more about the different cryptocurrencies, you can visit this page of crypto list and guide.