What Is Aelf Crypto Coin?
Alef crypto coin is now becoming one of the fastest-growing cryptocurrencies in the market. This is why it is attracting the attention of investors around the world. Despite that, there is still a relatively low knowledge of this cryptocurrency. This is why we have to create this full Aelf token guide.
In the next sections, we will cover all the details of this digital asset, its characteristics and how the Aelf blockchain works. Furthermore, we would also go through its price evolution over time and how this digital currency could become one of the most used virtual currencies in the world.
What is Aelf Coin?
Let’s start from the basics: what is Aelf coin? Aelf is basically an open-source blockchain network that wants to offer unique solutions to companies and firms. That the aim is not to become a clear leader in the market in terms of scalability solutions. Scalability has been one of the main topics discussed over the last years in the industry. This is why Aelf could be certainly revolutionary if it tackles the main challenges currently faced by virtual currencies.
In order for its solutions to work, the project implemented a smart and advanced secure blockchain cloud infrastructure that segregates cloud computing networks and provides scalability to them. Each of the nodes working on the mainnet works independently and offers performance, stability and scalability to users.
The main feature of the Aelf blockchain network is the unlimited scalability offered. Thanks to it, it adds as many servers as needed to be able to handle an increased number of transactions on the network. This can be achieved thanks to sidechains that run independently on different servers. In this way, all the computing needs can be guaranteed to the client.
Aelf crypto is also interoperable with other networks. But what does it mean? It means that if the network is able to reach its computer centre, data or digital assets could eventually migrate to other sidechians using internal mechanisms.
Thus, nowadays, the Aelf blockchain works with dApps, the decentralized finance market (DeFi), under chains and more. Everything is interconnected and flows without major issues as the team behind this project has built it thinking about scalability as one of the main features.
This would be definitely useful for the fast-growing DeFi ecosystem with its numerous protocols and solutions offered to clients in different jurisdictions. That means that the Aelf blockchain would help projects offer lending services, NFT creation and swapping platforms, among other things.
In the future, Aelf crypto developers could create new solutions and improve the services they offer. This would help the virtual currency to reach a larger audience and continue growing.
Aelf Coin Price
Aelf Crypto coin price has been volatile as the entire cryptocurrency market over the last years. Since it was released at the end of 2017, Aelf experienced some volatility, as most digital assets.
The first period that we distinguish started when the coin was released at the end of 2017 and it goes until June 2018. During this time, Aelf Crypto coin price ranged between $0.50 and $2, with some peaks above that.
Despite that, the price was not able to be sustained, and it entered a bear market that lasted until 2021 (when Bitcoin reached new all-time highs). The coin moved from $0.50 (which worked as a support level before July 2018) to under $0.06 throughout the years.
Aelf crypto price had a short-time revival in mid 2019 when Bitcoin tried to break through $13,700 but this expansion was not sustained. One thing that we should consider is related to the fact that the price of the virtual currency was not severely hit by the Covid-19 market crash experienced by Bitcoin and other digital assets and its price in BTC remained relatively stable throughout 2020.
In 2021, Aelf’s price started moving higher as the whole crypto market was reaching new highs. While Bitcoin surpassed $20,000 and hit $64,700 in May 2021, this virtual currency reached the resistance level of $0.50 once again. However, it was not able to break through it.
Now, the digital currency moved even higher and it has now tested the $1 price region. Now, if we talk about Aelf price prediction, we should tie it to a massive adoption of this virtual currency or the general expansion of the cryptocurrency market.
If cryptocurrencies continue moving higher, then Aelf could enjoy this positive period of growth. Instead, if the market moves lower, then there could be some time in which the asset could get closer to its previous lows.
Disclaimer: this should not be considered investment advice. This is only for educational purposes only.
Where to buy Aelf Crypto Coin?
There are different platforms where you can purchase Aelf crypto. There is no platform that offers better solutions than others. It would simply depend on your needs and the possibilities that each of these crypto exchanges offer to you.
This is just a list of exchanges where you can purchase Aelf crypto (ELF). However, there are many other platforms where you could do so as well. As mentioned above, everything depends on your needs and what the platform offers to you.
Binance
This is one of the largest and most recognized cryptocurrency trading platforms. You can buy not only Aelf crypto but also many other virtual currencies. At the time of writing, Binance offers four different trading pairs for Aelf crypto, including ELF/USDT, ELF/ETH, ELF/BUSD and ELF/BTC, showing that it makes it possible for every single type of user to get access to this virtual currency.
At the same time, Binance is also offering a large volume for the ELF/USDT trading pair. It handles around 4.64% of the total trading volume related to this virtual currency with very high liquidity. That means that larger investors can easily rely on Binance if they want to buy Aelf crypto.
In addition, Binance is also offering a wide range of other solutions to investors. Users that really want to get access to additional services using digital currencies can easily rely on Binance.
Huobi Global
Huobi Global is also offering users the possibility to purchase ELF. They handle close to 2% of the total trading volume for this virtual currency and they are among the largest exchanges in the world in terms of tokens accepted, users and volume handled. Moreover, they also have large liquidity, which is important for larger investors.
At the moment, the trading pairs offered by Huobi Global include ELF/USDT, ELF/BTC and ELT/ETH. This would let you choose the virtual currency you want to use to purchase ELF tokens. It is worth taking into consideration that Huobi Korea is also offering the same trading pairs. Meanwhile, Huobi Indonesia is focusing on ELF/USDT.
Huobi Global is also making sure that its clients are able to get access to other crypto-related services. This is why they have a wide offering of solutions for those clients that want not only to trade ELF but also get exposure to the crypto market.
KuCoin
KuCoin is among the most popular exchanges in the market after Huobi Global and Binance. This is one of the reasons that we have added it to the list. Users are now able to buy ELF using Bitcoin or Ethereum, already showing it has fewer trading pairs than other platforms. These two trading pairs represent just 0.06% of the total trading volume of ELF, which is not that much.
Another thing that we should consider about KuCoin is related to the fact that the platform has been working in order to reduce the KYC impact that these types of checks could have on users. This is why this is one of the best platforms for users that prefer not to share their personal information with the exchange.
That being said, KuCoin has also released its own virtual currency called KuCoin Shares (KCS). If you want to get exposure to KuCoin’s business, this is one of the ways you have to do so.
Uniswap
Finally, we have Uniswap. This is not a traditional platform if you want to buy and sell cryptocurrencies. This is a swapping exchange in which the person does not have to rely on a centralized party to trade virtual currencies. When using a crypto exchange such as the ones mentioned before, users have to trust the company providing the services. Instead, with Uniswap, investors can buy and sell ELF with WETH (a synthetic Ethereum token).
This is a great opportunity for users that want to buy and sell ELF to do so. Moreover, Uniswap is closely connected to the DeFi market. Thus, if you want to trade ELF and get access to the DeFi market, Uniswap is one of the best options available.
However, this is not a platform to use if you are a newcomer to the cryptocurrency market. Using Uniswap requires some level of knowledge on how virtual currencies work and behave.
Best Aelf Wallet
There are different wallets that would let you hold and protect your Aelf crypto coins. The wallet that you use would depend on the type of users that you are. For example, if you hold large amounts of Aelf crypto coins, you should use hardware wallets and if you want to use ELF tokens on a regular basis, then software wallets.
You should also know that there is no wallet that is better than all the others. The right wallet would depend on the type of needs you have.
Software Wallets
Software wallets are the best wallets to handle virtual currencies on a daily basis. These are wallets that can be downloaded to your smartphone or to your desktop computer. Usually, these wallets are used by users that want to handle different digital currencies and keep control of their portfolios.
However, these are not the safest wallets to use if you want to hold large amounts of Aelf tokens. Why? Because software wallets have contact with the internet. If an investor has its computer compromised with a virus, then they could end up losing their funds.
Hardware Wallets
Instead, hardware wallets are the safest option in the market. If you are a long-term Aelf crypto holder, then you should definitely have a hardware wallet to protect your funds. Rather than having your private keys on your computer or smartphone, they would be held outside the access of the internet.
This is why you should always deposit your coins in a hardware wallet if you are a long term holder. Additionally, hardware wallets are paid. You would not be able to handle ELF tokens in a hardware wallet if you do not pay for it. Unfortunately, Ledger does not support ELF, nonetheless, there could be other hardware wallets offering support to Aelf crypto.
Aelf Coin Reddit Community
The Aelf coin Reddit community is one of the largest in terms of users as it has more than 33k members. However, the engagement in this community is relatively low. The last posts are four months old.
Instead, the Aelf crypto community on Twitter is much more active and it shares information every single day. This is why, if you want to get valuable information about the project or the community, you should definitely use the Aelf coin Twitter account rather than Aelf crypto Reddit.
Having good contact with the community is definitely important as it would let you know more about the project and know which are the latest trends about Aelf coin.
Final Words
Aelf crypto is one of the most promising crypto solutions in the market right now. This decentralized blockchain network that empowers cloud computing infrastructure wants to offer the best possible services to companies and individuals around the world. The main goal is to achieve unlimited scalability, performance and security.
The infrastructure around Aelf crypto should yet be built. Indeed, it might be necessary for companies and crypto-projects to start adding support to Aelf. Of course, this is a natural process that would evolve over time.
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