Buy Aave
in New Zealand

When the Aave coin was called LEND, its initial price was $0.01 per token. When the name changed to Aave in October 2020, every 100 LEND tokens were swapped to 1 Aave, and the price was around $50. Very soon, the Aave price rose to $87, which was due to the release of the new version of the protocol in December 2020, which made using the platform easier and more efficient. At the beginning of 2021, Aave continued to grow and reached $100, and only in a few months, it set a record of $638 per token in February of 2021. It showed that it was an excellent investment for Aave owners. Nevertheless, 2022 wasn’t that good for this coin because from the beginning of the year, it dropped to $256 and ended the year with a price of $62.

There are ups and downs in the history of all cryptocurrencies. Aave is not an exception. It was a good investment sometimes, but the price failure might make people rethink whether to buy this coin. First, no one can tell you if your investment will be profitable because the cryptocurrency world is volatile. However, crypto analysts and experts can give you hints about how the future might be for Aave. Most of them believe that the Aave price would rise to $180 by 2025 and might reach the highest value of $606 in 2030. Please note that these are only predictions and might not be %100 guaranteed.

Aaave is a decentralized Ethereum-based lending platform launched in 2017 to give this opportunity to crypto owners to receive loans. The process is based on smart contracts, which means every step of borrowing and lending crypto is automated. The borrower should keep cryptocurrency assets as collateral and receive 80% of that amount as a loan. All the processes of calculating the loan terms and giving the loans to the borrower are done automatically via smart contracts. Therefore, no one has access to this process as a third party. The process of lending and borrowing is also done from liquidity pools. Thus, the borrower and the lender won’t know each other either. Aave network was called Ethlend but it was renamed to Aave in 2020.

Yes, buying and owning cryptocurrency is legal in New Zealand. The country has taken a
supportive approach to cryptocurrencies and has set guidelines for the use and exchange of
digital assets. The Inland Revenue Department considers cryptocurrencies to be a form of
property for tax purposes and requires individuals to pay taxes on any gains made from their
sale.

Yes. According to The Inland Revenue Department (IRD) of New Zealand’s provided guidance
on the tax treatment of cryptocurrencies, cryptocurrency is considered property for tax
purposes. This means that any gains made from the sale or exchange of cryptocurrency are
subject to capital gains tax. Additionally, in New Zealand, if you acquire cryptocurrency with the
intention of selling it in the future, your gains from the sale or exchange of these assets are also
considered taxable income and are subject to the same tax rates as your other income. This
applies to profits from trading, exchanging, selling, or disposing of cryptocurrency, as well as
income received from cryptocurrency mining, staking, and airdrops. The tax rate for
cryptocurrency gains in New Zealand is based on a progressive tax system, with rates ranging
from 10.5% to 39% depending on your total taxable income.
The Inland Revenue Department of New Zealand has also provided information on how to
report and pay taxes on cryptocurrency transactions. It is advisable to seek professional tax
advice if you have questions about how your cryptocurrency transactions are affected by New
Zealand tax laws.

Aave tokens are called utility and governance coins. The main use of this token is for voting on the system to propose new features and ask for updates. Since Aave is a lending platform, its tokens are mostly used as collateral. Although borrowers can use different crypto as collateral on this platform, if they use AAVE they will get a discount. You can swap a limited amount of Aave coins with any other crypto. But it is not usable for purchasing goods. However, it might be possible in the future.

Meanwhile, most people buy Aave coins to receive a loan on the Aave network or keep the coins as an investment. The price history of the Aave coin showed it could be a profitable investment in the past. If you want to hold these coins as an investment, be patient and keep watching their price. If you are a beginner, only invest as much money as you afford to lose because the future of cryptocurrency is unpredictable.

In New Zealand, anyone over the age of 18 and who has a valid government-issued ID can buy
cryptocurrency. There are no restrictions on who can buy cryptocurrency in New Zealand, but it
is important to note that all cryptocurrency transactions are subject to anti-money laundering
and counter-terrorism financing laws. This means that individuals and businesses must comply
with certain identification and verification requirements. Plus, when it comes to purchasing
cryptocurrency, using a cryptocurrency exchange is the most convenient option. Our exchange
specially allows you to exchange fiat currencies for cryptocurrencies through various payment
methods, such as Apple Pay, Google Pay, credit card, debit card, bank transfer, and PayPal.
Our exchange also offers these payment options with no exchange fees while ensuring secure
transactions.