WAVES is an open and decentralised trading platform, built on its own blockchain and with support for custom Tokens (CATs) currency. This makes decentralised crowdfundigate possible, but also allows traditional and digitala currencies to be safely stored and traded on the Waves Platform thanks to the cryptographic security in the Waves blockchain.
How To Buy WAVES
So you’re interested in buying WAVES? Currently, there is no way to buy WAVES directly with fiat, so the best way to buy WAVES is to first purchase Ethereum, transfer it to your chosen trading platform and change it to WAVES. We’ll show you how.
2. Once your account has been created and confirmed, log into your Binance account. Once you have logged into the account, go to the menu, click on the funds section and then deposit on the drop down bar.
3. Once you’re on the Deposit section, click the drop down menu labeled “Select Deposit Coin” and look for Ethereum, or type ETH and select.
4. This is your Ethereum Deposit Address, we have chosen Ethereum instead of Bitcoin due to the lower fees and transfer times. Next we’re going to look at buying Ethereum and depositing it into your Binance account.
1. First change the Buy option from BTC to ETH for USD and then choose your amount.
2. When you have chosen the amount of Ethereum you want to purchase (A minimum of 0.05 ETH is required), you will need to register and confirm your CEX account and payment details.
Once that has been confirmed and the ETH has been deposited into your account, we will then need to move it over to Binance.
3. Select the Withdraw option at the top of the site and select Ethereum as your currency. You will then be given a field, where you will add a wallet. This is where you can transfer your money to Binance.
4. Go back to your Binance Account and copy the alpha numeric code under your Ethereum Deposit section and paste it into your Ethereum Withdrawal section on CEX.io. Confirm that this address is correct and press “Withdraw“.
Your Binance account will now be credited with Ethereum.
2. On the trading platform, select the ETH section and use the search function to search for WAVES/ETH and confirm.
3. On the WAVES/ETH trading section you can now choose how much WAVES you want to buy with your Ether. Once you have chosen your amount, press Buy WAVES and place your order.
Once your order has been fulfilled, your account will be credited. Congratulations you’re now the proud owner of WAVES.
What is Waves?
The Waves Platform describes itself as an Open Blockchain platform, extending the functionalities of cryptocurrencies such as Bitcoin to do more than just perform transactions. The idea is not to replace other cryptospecies, but to provide a platform where everything of value (cryptocurrencies, traditional currencies such as the euro and dollar, equities) can be issued, transferred and exchanged in a 100% decentralised manner.
The platform’s technology is based on a number of other crypto projects such as Nxt and BitShares and SuperNet. Nevertheless, the entire Waves Platform has been developed and programmed in Scala (programming language) from the beginning. Although the concept of decentralised stock exchanges and properties is not new, WAVES distinguishes itself in areas such as ease of use and applicability.
On the Waves platform it is possible to create a digital or virtual currency within 1 minute, which can stand for everything. The value of each virtual currency is guaranteed by guaranteeing 1 in 1 another “real” currency. For example, if you want to save Bitcoins (BTC) on the Waves Platform, you send 1 BTC to the Waves-Bitcoin (wBTC) address on the Waves Platform. On the platform, the user concerned receives 1 Waves token “wBTC”, which 1:1 bears the value of 1 Bitcoin (BTC).
Once on the platform, tokens can be exchanged for other tokens, for example Waves-Euro (wEUR) or Waves-Ripple (wXRP). However, within the platform, these crypto currencies can be exchanged with each other at lightning speed, without the intervention of a central authority.
A challenge faced by many other blockchain exchanges is the introduction or execution of fiduciary money, such as euros. For this purpose, WAVES uses so-called fiat gateways: licensed and authorised central parties that adopt traditional currencies and convert them into tokens on the WAVES blockchain, such as wEUR or wUSD.
Because fiat gateways serve as a central authority, legislation and regulations can be applied to the inflow into and outflow of fiduciary money on the blockchain. Compliance frameworks such as KYC (Know Your Customer) and AML (Anti Money Laundering) currently separate the blockchain from the real world, because these compliance frameworks oblige the financial sector, among other things, to know where the money comes from or goes for each transaction from a certain value. Thanks to the fiat gateways, the Waves Platform offers opportunities for countries to regulate cryptocurrency.
The WAVES crypto currency has a maximum expenditure of 100 million units. This means that there is no inflation in the currency. In order to ensure that it remains profitable for the miners to confirm transactions on the blockchain, small transaction fees (0.001 WAVES) are charged. Waves uses an improved version of the Proof-of-Stake protocol as a consensus algorithm. The improved version, called Leased Proof-of-Stake (LPoS), can handle more transactions (1000 per second) and can confirm them faster.
The video below gives an explanation of the Waves Platform:
Waves value and price evolution
On 12 April 2016, the Initial Coin Offering (ICO) for the Waves Platform was started. This ICO was one of the most successful cryptocurrency crowdfunding actions that year, and came close to the results of the promising Ethereum (31,531 BTC) with a final revenue of 29,634 BTC (approx. 14 million euros).
The possibility of using so-called “custom tokens” on the Waves Platform and the light wallet developed by WAVES are important and relatively unique features of WAVES. Moreover, the blockchain distinguishes itself in terms of KYC (Know Your Customer) AML- (Anti Money Laundering) compliance, which makes the Waves blockchain attractive for companies in the financial sector.
Investing in cryptocurrencies is never without risk, but the growth of the WAVES crypto-currency and the market capitalisation show that WAVES has a strong proposition. When more large companies start using the Waves Platform, the price of the cryptocurrency will undoubtedly rise.