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We all have experienced taking out a loan. From that nice car that is a bit over your budget to the house you want to start a family in, most people turn to bank loans to fund these major purchases. The bank lends you money knowing you’d pay high interest. They’d take their cut and give the rest of the interest to their lenders.    

Aave is the cryptocurrency version of that bank. It runs on the Ethereum blockchain and uses smart contracts to manage assets on a network of computers distributed worldwide. Users can lend or borrow 20 types of cryptocurrencies, including ETH, BAT, and MANA tokens, from the lending pools.

If you want to learn more about how this lending system works, the true investment potential of its native token, and how you can get free AAVE without spending any money, read more below. 

What is Aave?

Aave is a decentralized finance application where people can lend, borrow and earn interest on cryptocurrencies without a middleman. Using an algorithm to determine lending rates and match borrowers to lenders, anyone on the Aave platform can participate without KYC checks. 

You can view Aave as a network of lending pools. Funds from lenders are collected into a pool. Borrowers can draw from these lending pools to take out a loan. Aave issues two types of tokens to expedite this process: aTokens and AAVE. aTokens are issued to lenders so they can collect the interests on deposits. 

Meanwhile, AAVE, the native token, powers the platform’s governance. AAVE holders also have the right to vote on any policy changes and updates to the application. Not only that but borrowers don’t get charged with fees if they take out loans denominated in the token. Plus, users who use this token as collateral also get a discount on fees. 

Investors who believe in the rising popularity of decentralized lending are adding AAVE to their portfolios. If you wish to do the same, here’s all you need to know about getting AAVE coins.

How to Get AAVE

AAVE has a max supply of 16 million. From the 16 million, three million is stored away in a smart contract for future developments in the platform. Aave is constantly receiving development updates, which makes AAVE a promising token to have. 

There are two ways you can acquire AAVE tokens: buying or mining. You can either purchase these tokens on popular exchanges that support AAVE such as SoFi, Gemini, and Coinbase. You must open an online account on your preferred trading platform and buy a wallet before you can place your order.

If you prefer to mine AAVE tokens, be extra prepared since mining cryptocurrencies involve highly technical skills, heavy-duty hardware, time, and massive power consumption. Mining AAVE is a complex process. You also have to invest quite a lot of money to make sure you have the suitable equipment for it. 

Either way, you would need to open your wallet and spend some hard-earned cash. If those two options don’t appeal to you, there is another way of getting AAVE tokens that do not involve money, overly complicated setups, and a high electricity bill. 

With FreeCryptoRewards, get AAVE tokens when you complete simple daily tasks. Take a survey, watch a video, and complete an offer to earn points you can use to claim AAVE, other cryptocurrencies like IOTA, and cash. You can even invite your friends to earn more points.

Working with an accredited rewards site enables you to enter the crypto market with a diverse portfolio on hand without breaking the bank!

Watch out for AAVE Crypto Scams

There are tons of websites promising a steady stream of AAVE and other crypto coins for nothing. Before you click on those links, know that these sites tend to be nothing but scams.

Ask yourself this first: Is risking your peace of mind and security worth it? 

Instead of wasting your time with these suspicious websites and fending off possible cyber attacks, work with FreeCryptoRewards instead.

We offer you a completely secure and legit way of getting AAVE tokens without spending any money or risking your identity and device.

Claim Your Rewards Today!

Don’t stress yourself out with scammy sites. Complete daily tasks and get rewarded with legit AAVE and other cryptocurrencies of your choice deposited straight to your Coinbase wallet.

Put your time to good use. Sign up today for free!