How to Buy Aave YFI (AYFI)

A Step-by-Step-Guide on how to buy Aave YFI (AYFI)

Step 1 – Join Coinbase and receive 10$ in Bitcoin

You will first need to purchase one of the bigger coins. Exchanges usually accept either Ethereum or Bitcoin in exchange for alternative Coins. Follow the Link below for registration and to get ETH (Ethereum) or BTC (Bitcoin).

Binance Signup
Step 2 – Send Your Bitcoin or Ethereum to an Cryptocurrency Exchange

Your Ethereum or Bitcoin will need to be sent over to an Crypto Trader now. All exchanges have a deposit form that is similar. Aave YFI (AYFI) is available on Binance, so we're going to use that as an illustration. Not sure on how to send Coinbase funds to an Exchange? (Just follow this guide)

Make sure you have selected the precise coin you would like to deposit.

BTC must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, etc. If you are dealing with a decentralized exchange, like Airswap or DDEX could be different (Just follow our how-to).

Step 3 – Locate (AYFI) Aave YFI

Once your deposit has been verified, you will instantly have access to your assets and you can start invest and trading. To purchase (AYFI) Aave YFI on Binance, you will want to go to the tab which is called “Exchange” and mouse click on “Basic”.

In order to spot (AYFI) Aave YFI, you will need to insert the short name of the asset (AYFI) into the search-box, which is highlighted in the image. Make sure you have selected the proper pairing, we have highlighted this too. Click on “AYFI/BTC” to go ahead.

Binance How To Buy 1 Aave YFI (AYFI)
Step 4 – Purchase Aave YFI (AYFI)

Once you've spotted Aave YFI (AYFI), you'll be presented with a Chart with Prices (in the Center of the picture) and some Order Books (on the Left of the image). And now we're going to create our Limit Order.

The field with the “Price” tag will be filled with the most recent valuation (AYFI) Aave YFI was sold for. This can be changed to your desired rate. The “Amount” field is the amount of AYFI you wish to purchase. The “Total” field is the total price in Bitcoin that you will pay for the whole volumen of AYFI.

If you're satisfied, make a mouse click on “Buy AYFI”. Your order will be filled as soon as a Seller sells their AYFI for the price you offered.

Step 5 – Withdraw Aave YFI (AYFI)

Unless you're trading, best advise is not to keep your coins on an Exchange for an longer time frame. In order to withdraw your (AYFI) Aave YFI, hover over the “Funds” tab and click on “Withdraw”. Aave YFI (AYFI) can be stored safely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find Aave YFI (AYFI) by using the provided drop-down box. Enter the amount of Aave YFI (AYFI) you'd wish to take off. Take into account the displayed fees/minimums. Also make sure you have entered your precise withdraw address.

When you are glad, click “Submit”. You may be requested for verfication via phone/email before a take off.

Kudos! You've successfully purchased and safed (AYFI) Aave YFI.

That's it!

Take offs from Exchange can durate anywhere from 1 – 30 minutes (depending on usage of the network). Once you have confirmed your withdrawal using Ethplorer.io or Etherscan.io and the Aave YFI (AYFI) is stored in your wallet, you're finished.