Last updated on November 20th, 2023 at 03:58 pm
Thank you for reading this post, don't forget to subscribe!
The Avalanche (AVAX) token is the native currency of the Avalanche blockchain network. Ever since it was launched, Avalanche (AVAX) token has garnered a lot of attention due to its unique features, including high transaction speeds and low fees. Investors and traders are eager to know why the AVAX token is a blockchain-based profitable digital asset.
Introduction
A new era of asset management marked by the rise of cryptocurrencies has been ushered in by blockchain technology. The blockchain technology that underpins cryptocurrencies eliminates the need for middlemen, lowering costs and accelerating transactions. One of the newest players in the cryptocurrency market is the Avalanche network, whose native currency, AVAX, has been performing remarkably well.
High Transaction Speeds
One of the reasons why the AVAX token is a blockchain-based profitable digital asset is because of the Avalanche network’s high transaction speeds. The network can process approximately 4,500 transactions per second, which is an impressive feat compared to other blockchain networks such as Bitcoin. Bitcoin can only process about seven transactions per second, while Ethereum can handle about 15 transactions per second. This high transaction speed makes the Avalanche network an attractive option for traders who want to trade cryptocurrencies quickly and efficiently.
Read Also: CoinEx CEO Vows to Protect User Assets and Enhance Security Post-Hack
Low Fees
The low fees associated with the AVAX token make it a blockchain-based profitable digital asset. Other blockchain networks like Bitcoin and Ethereum demand much more network fees than Avalanche does. For traders who wish to lower their transaction costs, the Avalanche network is a great choice because transactions may be completed for as little as $0.001. Traders who wish to maximize their profits by lowering their expenses will find this low charge structure to be quite tempting.
Security
Security is a critical factor that investors consider while deciding on which digital asset to invest in. The Avalanche network has robust security features that make it one of the safest blockchain networks. Avalanche uses a consensus mechanism called “Avalanche consensus,” which is highly resilient to attacks from malicious actors. The Avalanche network also employs a unique approach to node discovery, which adds an extra layer of security to the network.
Scalability
Another aspect that investors think about when choosing where to put their money is scalability. A special method of scaling employed by the Avalanche network is known as “Subnets.” These networks, known as subnets, are scaled-down versions of the larger Avalanche network. Because each subnet has its own consensus mechanism, subnets can carry out transactions independently of one another. In contrast to other blockchain networks that have a maximum capacity, the Avalanche network can scale forever because of this infrastructure.
Development Environment
Avalanche has a highly vibrant development environment, with a vast community of developers continually building applications on top of the Avalanche network. This development ecosystem is critical to the success of the Avalanche network since it ensures that the network remains relevant and up-to-date with the latest technology trends. The Avalanche network supports a variety of programming languages, making it easy for developers to build on the network.
How to trade Avalanche (AVAX) on CoinEx exchange: a step by step guide
Step 1: Create an account
Visit the CoinEx website and click on the “Register” button. Enter your details such as your email address and password, and complete the verification process.
Step 2: Fund your account
To start trading on CoinEx, you will need to fund your account with cryptocurrency or fiat currency. Click on “Deposit” and select the cryptocurrency or fiat currency you want to deposit. Follow the instructions to complete the deposit process.
Step 3: Buy AVAX
After your account has been funded, click on the “Trade” button. Use the search bar to find the AVAX trading pair that you want to trade, such as AVAX/USDT or AVAX/BTC. Once you have located the trading pair, click on it to access the trading screen.
On the trading screen, you will see the current price of AVAX and other market data. Enter the amount of AVAX you want to buy or the amount of cryptocurrency or fiat currency you want to use to buy AVAX. Review the transaction details and click on the “Buy” button to complete the trade.
Step 4: Sell AVAX
To sell AVAX, repeat the same process as buying AVAX, but select the “Sell” option instead. Enter the amount of AVAX you want to sell, and review the transaction details before clicking on the “Sell” button to complete the trade.
Step 5: Withdraw your funds
Once you have completed your trades, you can withdraw your funds from your CoinEx account. Click on “Withdraw” and select the cryptocurrency or fiat currency you want to withdraw. Follow the instructions to complete the withdrawal process.
Conclusion
In conclusion, the AVAX token is a blockchain-based profitable digital asset due to its unique features, including high transaction speeds, low fees, robust security, scalability, and a vibrant development environment. If you are interested in trading AVAX, the CoinEx exchange is an excellent option. CoinEx will continue to partner and integrate trustworthy Blockchain-based tokens in its ecosystem.
