KAVA cryptocurrency: How it works and where to buy it | Finder

KAVA cryptocurrency: How it works and where to buy it

Learn more about Kava, why the KAVA token is useful and where to buy it.

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Where to buy KAVA Find KAVA exchanges

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KAVA is the native token of Kava.

Kava is a DeFi lending platform designed to allow users to earn high returns on its cryptocurrency by lending it out and using it as collateral for stablecoin loans. Kava's native stablecoin is USDX.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
CryptocurrencyKAVA
Circulating supply (approximately, as of August 2020)27,000,000
Maximum supplyUnlimited
NetworkCosmos
PurposeGovernance, collateral, validator staking

What is DeFi and why is it a trend to watch in 2020?

How does Kava work?

Kava's purpose is to allow people to lock up cryptocurrency as collateral, similar to other Ethereum-based DeFi projects. One of its key differentiators, however, is that it leverages the interoperability features of the Cosmos network to allow a wide range of cryptocurrencies to be more easily used as collateral.

In a nutshell, the cryptocurrency deposited into Kava collectively becomes the collateral for USDX stablecoins, which are pegged to US$1. The network is over-collateralised, giving people assurance that the USDX stablecoin can always be safely redeemed for $1 of value.

There are two basic things a user can do with Kava:

  • Lock crypto collateral in a smart contract to withdraw USDX
  • Stake (lend) USDX to earn interest

These can be combined, though, and can interact with other DeFi projects to be greater than the sum of their parts. For example, someone could take on a leveraged position by taking out a USDX loan and then using that to buy even more cryptocurrency.

What does the KAVA token do?

The KAVA token serves three purposes:

  • Governance. KAVA token holders can exercise governance rights on the Kava platform.
  • Lender of last resort. If all else fails, KAVA can start being liquidated to help guarantee successful USDX redemption.
  • Validator staking. The top 100 validator nodes on Kava's network can earn staking rewards in KAVA.

How to buy KAVA

Here's a step-by-step guide for one way of buying KAVA. Note that there might be other options available, so you may want to compare cryptocurrency exchanges to find the one that's right for you.

Name Product Deposit methods Fiat Currencies Cryptocurrencies
CoinSpot Cryptocurrency Exchange
Bank transfer, BPAY, Cash, Cryptocurrency, POLi, PayID
AUD

288
cryptocurrencies

CoinSpot is an Australian exchange that lets you easily buy, sell and trade more than 250 cryptos.
Swyftx Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID
AUD

257
cryptocurrencies

Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
Binance Cryptocurrency Exchange Australia
Credit card, Cryptocurrency, Debit card, Osko, PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

261
cryptocurrencies

Binance is the world’s largest exchange by trading volume. Get started with instant zero fee AUD deposits and withdrawals in Australia, and enjoy low trading fees, a wide selection of cryptocurrencies and 24/7 local customer support.
Digital Surge Cryptocurrency Exchange
Bank transfer, Cryptocurrency, POLi, Osko, PayID
AUD

250
cryptocurrencies

Finder Exclusive: New members get $10 bonus after verification. T&Cs apply.
An Australian based exchange with a focus on simplicity that allows users to purchase a range of cryptocurrencies with AUD.
Cointree Cryptocurrency Exchange
Cash, Cryptocurrency, POLi, PayID, Online banking
AUD

132
cryptocurrencies

Finder Exclusive: New members get $10 bonus after verification. T&Cs apply.
Buy 130+ cryptocurrencies with fast-growth portfolio insights, and the ability to swap any coin to any other instantly.
Huobi Cryptocurrency Exchange
AdvCash, Cryptocurrency, SWIFT, Wire transfer
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+ more

219
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
Hotbit Cryptocurrency Exchange
Hotbit Cryptocurrency Exchange
Cryptocurrency, Epay
USD

512
cryptocurrencies

A multi-currency exchange with 150+ pairings that can be accessed through desktop as well as a mobile app.
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Compare up to 4 providers

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