What are Avalanche and AVAX?
Avalanche is a blockchain platform for decentralised applications and custom blockchains. AVAX is the native utility token of Avalanche. On the network, AVAX is used to pay transaction fees and help secure the platform.
How to buy Avalanche in Singapore
Here is the basic flow in the Crypto.com App:
- Sign up and verify your identity. Download the Crypto.com App or register online, then confirm your email.
- Add funds to your account.
- Head to the trading screen, select Avalanche and complete your purchase.
The minimum purchase depends on your payment method: SGD 1 for direct purchases with Apple Pay or Google Pay, SGD 20 by card, or SGD 50 by FAST bank transfer.
Ways to fund an Avalanche purchase
You can fund your account and buy Avalanche using a FAST bank transfer in SGD, a Swift transfer in USD, a debit card, Apple Pay, Google Pay, or crypto deposited from another wallet. FAST and Swift transfers are free on Crypto.com, though other charges may apply to crypto deposits.
If you transfer crypto into the App, do check that the token and network are supported and that you are sending it to the correct address. Crypto transactions are irreversible, so if this is your first crypto deposit, you may want to try a small transfer after checking the details.
Holding Avalanche vs day trading Avalanche
Holding Avalanche generally means buying and keeping it for a longer period, in the expectation that its value may rise over time.
Day trading Avalanche means buying and selling over short timeframes, often within the same day, to try to profit from price volatility. It takes more time, skill and risk management, as outcomes depend heavily on timing and market swings.