Waves is both a cryptocurrency and a blockchain platform in which users can exchange cryptocurrencies, create and issue new digital assets, as well as to facilitate smart contracts for decentralized applications. All of these functions can be done from within the Waves client wallet, using the Waves crypto to pay transaction fees.Like all cryptocurrencies, Waves is still in its early stages of development and has not reached its full potential as far as technology, software, use cases, and adoption is concerned. Waves is far more complex than Bitcoin as it is a multipurpose crypto, it’s not used or made to be simply a currency. However, Waves can be stored and transferred to one another on a decentralized peer to peer network just as Bitcoin can. Therefore, the waves cryptocurrency has a speculative use case in which investors can buy and sell the cryptocurrency as they see fit. The Waves cryptocurrency is not normally accepted among traditional online trading brokerages, as Waves is not meant to be a currency used in this case.show more
As with most cryptocurrencies, Waves does not yet have a specific sign or symbol used to represent the currency. Instead, the Waves cryptocurrency is represented by its ticker or code, (WAVES). This code is used to represent 1 whole Waves crypto token. Thus far, the waves cryptocurrency has nothing to represent or name fractions of a Waves token, but they can be transferred bought and sold in fractions of a Waves token. Another method cryptocurrencies differentiate themselves from others and a way they are unique to their own, is their logo. The Waves logo is very simple, it’s simply a blue square that has been rotated so the corners are pointing directly up and down, like a diamond shape.
One of the most interesting aspects of the Waves crypto token is that it can be exchanged for other cryptocurrencies from within it’s very own wallet. The Waves client wallet is a decentralized exchange as well as a secure personal wallet. It is the safest exchange for exchanging the Waves cryptocurrency as your crypto never leaves your wallet until you make the trade. Waves can also be exchanged on a large number of other major cryptocurrency exchanges for cryptos and fiat currencies as well. The most common Waves crypto pairs include WAVES/BTC, WAVES/ETH, WAVES/USDT and the most common Waves fiat currency pairs include WAVES/USD, WAVES/EUR, and WAVES/RUB.
As mentioned before, Waves can be stored and managed in their very own Waves client wallet. This wallet is available across desktop computers and mobile devices including Windows, Mac, and Linux, iOS and Android. Waves can also be stored in some other third party cryptocurrency wallets. The cryptocurrency wallets differ from banks in the sense that they allow complete control over your funds and do not have the associated fees and limitations as banks do. People who hold Waves can send them to anyone, anywhere in the world, almost instantly for mere cents. Therefore, banking with Waves can be very beneficial over banking with a traditional bank in some cases.