Aave isn’t the first cryptocurrency you might think of when you consider gambling online. However, like so many others, it runs on Ethereum’s blockchain technology, making full use of smart contracts while focusing on borrowing and lending. Investors can learn interest at stable rates on Aave as part of a global lending pool.
Admittedly, Aave isn’t a particularly flexible option when it comes to gambling at crypto casinos, but we will introduce you to it all the same. Let’s begin by showcasing some of the best AAVE casinos out there right now.
Aave has a history that stretches back to 2017. Founded by Stani Kulechov in Switzerland (and now based in London), Aave unashamedly declares itself a for-profit business. Like many cryptos, this one is still an emerging option. However, it works in a slightly different way from its counterparts. Aave allows you to lend and borrow crypto assets, and it handles those via smart contracts. Borrowing Aave, though, requires collateral.
Aave itself has a token known as an aToken. This is typically pegged to the same value as another cryptocurrency, namely the one you want to borrow. Of course, while this system is complicated (and unique), it isn’t beneficial for those who want to gamble at crypto casinos.
In a nutshell, Aave casinos are any online casino that accepts deposits (presumably, withdrawals) using the Aave token. Admittedly, there aren’t many of these in operation right now, so it’s a case of slim pickings. However, you’ll find casinos that do facilitate Aave deposits here on this page. Unfortunately, precious few sites offer games you can wager on using the aToken, leading us to our next point.
Ultimately, you’re not going to find many Aave casino games at all. Instead, when the aToken is offered at crypto gambling sites, it is usually available as a deposit and withdrawal method only. Therefore, if you use AAVE to finance your gambling habit, you’re likely going to see it converted into another cryptocurrency or even a FIAT currency before you start wagering on games.
Let’s look at the few advantages of playing with Aave next. They include:
If you’re involved in the Aave cryptocurrency, you are part of a global lending pool. This means that you can earn interest on loans and borrows that feature the crypto token. This is a nice way to earn a little on the side.
Aave is still a relatively new and emerging crypto token. Moreover, it has an interesting and unique concept, heavily centered around the borrowing and loaning of cryptos (various types). That’s an exciting market to be a part of.
There are disadvantages to using AAVE, too, and these include:
AAVE deposits and withdrawals aren’t commonplace at crypto casinos. You’ll likely struggle to find too many casinos supporting the option, even at those sites that accept deposits and withdrawals from near-on 100+ cryptocurrencies.
Aave is a fantastic little cryptocurrency in how it works and its purpose. However, it is not well-designed for the crypto-gambling sector. It doesn’t facilitate wagering on games, and few sites support it. AAVE’s practicality in the gambling sector is essentially rather limited.
If you are going to play with AAVE at online casinos, you should at least consider the following:
Aave casinos are few and far between, but let’s introduce you to some of the primary ones we can recommend right here.
Getting started with Aave is straightforward. Here’s what you need to know:
Aave is not one of the leading cryptocurrencies for online gambling, and it is not well-designed for it, even though it has some great practical uses outside of the gambling sphere. This is a crypto that we’d encourage you to read up on before you decide that it’s the one for you to gamble with.
Not by a long shot. In fact, precious few casinos accept AAVE deposits.
No. In fact, there aren’t many games you can wager on at all with Aave.
We haven’t seen any. If they exist, they must be at obscure, untrustworthy sites.
Aave is just as safe as other cryptocurrencies. However, it is less well-designed for gambling.
That depends on the casino and your wallet provider. Our guess is not likely.