Due to the peculiarities of the cryptocurrency market, new and supernova stars appear in its firmament with enviable regularity. AVAX, the Avalanche blockchain token, became such a star in November 2021. A relatively unknown and very young cryptocurrency has entered the top ten most valuable cryptocurrencies by market capitalisation.

Such a dramatic event drew market participants' attention to the asset. While AVAX has lost some ground, it is still included in numerous lists of the most promising cryptocurrencies for 2021.

What makes the Avalanche project unique

If Bitcoin was initially conceived as a possible alternative to the traditional financial system and a possible replacement for fiat money, its supporters have advanced further. Ethereum was the first network to allow users to create smart contracts and decentralised applications.

Today, a plethora of decentralised financial products have already established themselves as the norm in the cryptocurrency world. Veterans of the cryptocurrency market encountered the issue of network scalability as their popularity grew. Transactions must be completed as quickly as possible for users, and the capacity of existing ecosystems is frequently insufficient.

The Avalanche blockchain was built with this in mind, and its consensus protocol enables the rapid launch of DeFi products. Additionally, AVAX is now one of the fastest networks.

Consider Avalanche to be Blockchain 3.0. Two blockchains and a directed acyclic graph comprise the platform (C-Chain, P-Chain, X-chain).

The P-chain is in charge of implementing the consensus protocol and preventing tokens from being blocked.

Avalanche Contract Chain (C-Chain) is a smart contract platform. Additionally, C-Chain applications can be ported. Ethereum-based.

The exchange chain (X-Chain) enables token transfers and exchanges between subnets, as well as the creation of new assets of various types (altcoins, stablecoins and non-removable tokens).

While the Avalanche network is functionally identical to Ethereum, it boasts additional features, faster speeds, and lower fees.

AVAX cryptocurrency

AVAX is used to perform all calculations within the network. Proof of Ownership is used to generate the native token. This algorithm consumes less power than the Proof of Rabot algorithm, which increases the asset's attractiveness.

The network's active development and the attraction of new solid investors amid growing dissatisfaction with Ethereum's increasing commissions aided the coin's ascension to the TOP-10 of the largest cryptocurrencies. Despite the fact that AVAX has yet to establish a foothold in the market, many analysts believe the coin is extremely promising. Interest in the coin is also being fueled by its current low price, as evidenced by the volume of BNB to AVAX exchanges.

However, regardless of how optimistic the forecasts were, keep in mind that the entire cryptocurrency market is an area of particularly high financial risk. While it may be tempting to join the early investor community, investing your entire portfolio in a very young asset is risky.

Converting BNB to AVAX

AVAX is now traded on a number of major cryptocurrency exchanges and can be converted to a variety of other cryptocurrencies and fiat currencies. Any of the currently operating services can be classified into one of the following groups:

* Traditional services that facilitate cryptocurrency trading and other revenue-generating activities.

* Instant cryptocurrency exchange service, similar to C2C.

Although the exchange algorithm is essentially identical, the service chosen is determined by a number of factors, most notably the location of your assets. If your coins are stored in the client's exchange wallet, it makes sense to conduct exchange transactions through the platform.

You have additional options if you withdraw funds prudently to more secure, independent wallets. For instance, you could make use of LetsExchange's services. It is significantly more convenient and secure than traditional services.

You are not required to register in order to use the platform's features. You must first open the exchange widget and complete several actions within it.

* In the upper field, select or enter BNB for sale and the quantity of coins you wish to sell.

* Similarly, in the lower field, select AVAX.

* Enter the address of your wallet.

* Make a coin deposit. To initiate an exchange, click the "Exchange" button.

Automatically, the most profitable current transaction is selected, the exchange rate is recalculated, the transaction is completed, and the purchased coins are credited to the wallet. The platform operates commission-free and imposes no limits on the size or number of swaps.

Support us!