What is the difference between WAVAX and AVAX in the cryptocurrency market?

3 answers

• Dec 24, 2021 · 3 years ago
  WAVAX and AVAX are both cryptocurrencies, but they have some key differences. WAVAX is a wrapped version of AVAX, which means that it is a token that represents AVAX on a different blockchain. This allows AVAX to be used on other blockchains and decentralized applications. AVAX, on the other hand, is the native cryptocurrency of the Avalanche network. It is used for transaction fees, staking, and governance within the Avalanche ecosystem. So, while WAVAX represents AVAX on other blockchains, AVAX is the actual cryptocurrency native to the Avalanche network.
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• Dec 24, 2021 · 3 years ago
  WAVAX and AVAX may sound similar, but they have distinct roles in the cryptocurrency market. WAVAX is an ERC-20 token that represents AVAX on the Ethereum blockchain. It allows users to access AVAX liquidity and trade AVAX on decentralized exchanges that are built on Ethereum. On the other hand, AVAX is the native cryptocurrency of the Avalanche network. It is used for various purposes within the Avalanche ecosystem, such as securing the network through staking and participating in governance decisions. So, while WAVAX provides interoperability with Ethereum, AVAX is the main currency within the Avalanche network.
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• Dec 24, 2021 · 3 years ago
  WAVAX and AVAX serve different purposes in the cryptocurrency market. WAVAX is a token that represents AVAX on the Binance Smart Chain (BSC). It allows users to trade AVAX on the BSC network and access liquidity on BSC-based decentralized exchanges. AVAX, on the other hand, is the native cryptocurrency of the Avalanche network. It is used for transaction fees, staking, and participating in the consensus mechanism of the Avalanche network. So, while WAVAX provides cross-chain compatibility with BSC, AVAX is the primary currency within the Avalanche ecosystem.
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