Why You Should be Excited about ‘WAVES’ Cryptocurrency?

Written by Bebeto Nyamwamu - Reviewed by Coin Review Team

Published: Jul 24, 2018 | Last Updated: Mar 7, 2019

The features of Waves and all its attractions.

2025-01-23T07:11:57+00:00

Do you know that you can access token storage, trade, and issuance solutions on one platform?

What is ‘Waves’ Cryptocurrency?

The team makes the solutions possible through Waves Cryptocurrency platform. Waves blockchain makes transactions easy and secure for developers, traders, and organizations.

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The platform allows members of the community to build a loyalty rewards program. Other services on Waves include; crowdfunding or create an in-app currency.

In essence, allow developing crypto assets in up to one minute.

The coin is the most underrated. The platform has achieved impressive market capitalization.

It has a market cap of over $250 million and valued at $2.87 per wave coin at this writing.

It is that valuable!

So, let us take some time to dissect the currency.

What are the Key Features of Waves Cryptocurrency?

Here are some of the key features on the waves platforms;

1. WavesDex
2. Fiat Gateways
3. Tokenization
4. KYC/AML
5. Anonymity

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Waves Decentralized Exchange (WavesDEX)

Waves is the most vital of the features. WavesDex is the decentralized trade platform on the blockchain. This differs from the centralized platforms of other blockchain technologies like Bitcoin.

Centralized platforms are susceptible to hacking. It already happened to Bitfinex and MtGox. Decentralized exchanges are hard to hack. Also, using decentralized resources makes it impossible to hack the platform.

WavesDex credits your funds to your cryptocurrency ledger wallet. Besides, no administrator can freeze your account. This implies that you have all the control of the wallet.

Fiat Gateways

Fiat Gateways is a way of saying ‘paper currency.’ That is; USD, AUD, GBP and plenty more.

What is this feature all about on waves?
The platform allows one to trade in any token on the Waves platform for Fiat Currency. The money is then stored in banks.

Tokenization

The platform’s primary focus of the platform is tokenization. These means any member of the platform can make and transfer their tokens. The Platform utilizes LiteClient to create the coins. LiteClient is available on both iOS and Android.

What does it take to create a token?
To generate a token, you will only need to be a member of the platform with over 1 wave. With that, you will create, name and set some tokens for release.

The tokens are then traded without a middleman.

KYC/AML and Anonymity

This the Know Your Customer feature. This feature allows the platform to find out various information about its clients. The feature is necessary for deposits and withdrawals of fiat. But, for digital currency exchanges, the function is not essential.

Even with KYC criteria, the Waves blockchain assures customers of anonymity.

What are the Advantages of Waves Platform?

1. Waves offer Token Flexibility

In the waves platform, community members enjoy token flexibility. This means a client can pay transaction fees in Waves or any other token on the blockchain. Thus, participants can choose which tokens are acceptable for their services.

2. Waves platform is a low energy consumer

Hence it saves a lot of energy. The use of proof of stake for wave mining minimizes energy consumption.

3. Waves offer users the pleasure of using mobile phones.

There are Android and iOS applications. The mobile client allows users perform their transactions on mobile.

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4. Waves have a fixed supply of coins

The supply of Waves tokens is 100 million. This stabilizes the supply and demand curves. So, predictions of the market trends are easy.

5. Waves is an easy platform to launch of ICO

Waves lays the foundation for users to make tokens. The ICO launches and the crowdfunding of the tokens are easier on Waves.

The ICO model benefits the user in a manner that the initial expenses are already covered.

What are the Disadvantages of Waves Platform?

1. The Waves crowdfunding space is quite crowded.

The competition of blockchains that offer the service is quite stiff. Ethereum is the most prominent in the competitor list.

Other competitors include; Ubiq, NEO, and Qtum. But, it’s important to note the differences in the approaches of each of the said blockchain.

2. Limited listing of Waves in exchanges

The trading of the waves as it stands is in Bittrex, Yobit, Binance, and other uncommon exchanges. Some key exchange players like Kraken and Poloniex do not have the Waves on their platform.

Check out for your selection of the best cryptoexchange to list Waves.

3. Security concerns with the storage of the waves

The waves are not stored in hardware wallets as is the case in other coins. This raises a security concern.

How is Waves Different from Etherem?

Waves provides smart contracts, but they are unlike the Ethereum ones. In Waves, smart contracts are written by built-in plug-ins, making the entire process easier.

Waves used plug-ins to make certain things simple. In Ethereum, it could be very lengthy and complicated.

The Total WAVES To Be Produced

The Waves ICO period was from April 12, 2016 – May 31, 2016. During this ICO, $16,436,095 was raised (equivalent to 30,096.7 BTC).

ICO Investors	85 Million Allocated
Pre-ICO bounties	1 Million Allocated
Post-ICO bountiess	1 Million Allocated
Strategic partners and backers	4 Million Allocated
Development & Marketing	9 Million Allocated
In Total	100 Million

Market Cap

As per Crypto Digest News the total circulating supply of WAVES is 100 million tokens, and the current price of each unit is $6.88, which makes its market cap approximately $686 million (at the time of this article).

How to Buy Waves Cryptocurrency?

The process of buying waves is quite simple. Visit its website. Once on the site, create a new account. This takes at most two minutes. Take note of the seed as it helps you recover the account in case of any eventuality.

After which you will deposit fiat in either USD/EUR in the wallet section. Click on buy, and you will have waves equal to your cash transferred to you.

Other options are to buy the Waves from a cryptocurrency exchange like on Bittrex. You can also find out more from the best crypto signals channel on Telegram.

Where to Store Waves?

Waves do not at the moment support hardware wallet. Here are some ways to store your waves coins;

Waves Paper Wallet – Wavesing
Waves Mobile wallet – For both Android and iOS
Waves Web wallet – The Waves LiteApp the chrome extension and Waves web wallet

Look out for hardware wallet support. Any cryptocurrency wallet review will reveal that hardware wallets are the most secure.

The Team Behind Waves Coin

The waves Development team includes;
1. Sasha Ivanov: The founder and CEO
2. Maxim Pertsovskiy: The Chief Operating Officer
3. Mariya Brovikova: The Chief Financial Officer
4. Phil Filippak: Lead Frontend developer

Other members of the development team are: Aleexey Kiselev, Sergey Tolmachev, Ilia Samagin and Alexey Kofman.

What is the Future of Waves?

Some of the use cases which are being built or are already in production:

ZrCoin – A green manufacturing technology business.
Upcoin – A political engagement initiative.
EncryptoTel – A secure telecommunications infrastructure company.
MobileGo – A marketing drive for a mobile gaming platform.
Incent – A blockchain loyalty scheme.
Tokenomica – A transparent venture capital organization.

There are other latest innovations on the way, the future looks brighter for Waves and as per there 2018 roadmap, they are positioned well in the crypto market.

3 Key Reasons Why you Should be Excited about Waves Cryptocurrency

1. Ability to lease Wave coins
An investor can lease his waves without moving them and get paid for that.

2. Key strategic partners
The likes of the Russian Gazprombank, Central Depository in Moscow, and Deloitte. These are the key among the partners.

3. The impressive Market valuation
As it stands, over 7,000 custom tokens are in circulation. The coins are on the platform. With the fixed coin supply and the eyeing of the currency by many other big investors. The coin has real potential.

Conclusion

You have walked through the Waves cryptocurrency. You now know the pros, cons and the trading information about the coin.

What stands out is that the currency has some very significant advantages. These should excite every investor or crypto-enthusiast.

The platform is simple and favors any investor. Token making on the platform is as easy as it gets.

The Waves team is looking for new ways to add value to the platform. The partnerships it has struck this far are proof of this.

Head out to their website and get started today.

If you like this post, don’t forget to share it with your friends and family on Facebook or Twitter!

Image Credits
Feature Image – Shutterstock.com
In-Post Image – Shutterstock.com, blog.wavesplatform.com

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Disclaimer

The writer’s views are expressed as a personal opinion and are for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.