Crypto Spotlight: Have you met AAVE yet?

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As you may already know, three new cryptocurrencies are now available in the Wirex app. We’re also offering a EUR €5 (USD $5 in APAC) bonus for when you buy over €50 ($50 USD in APAC) of these tokens!

But before you exchange any of them, you may be thinking – what are they all about, exactly? Here’s what you need to know.

Say hello to AAVE

Meet AAVE. Launched in 2017 and founded by Stani Kulechov, AAVE is one of several DeFi cryptocurrencies on the Ethereum blockchain. It’s best known as a decentralised lending system in which you can lend, borrow and earn interest on all crypto assets.

What does it do?

We get that lending and borrowing can be a total mind clutter, but with AAVE, it’s smooth sailing! If you take out a loan in AAVE tokens, you don’t have to worry about fees.

The AAVE platform also offers so-called ‘flash loans’, which you can take out almost instantly with no collateral needed!


EEA & APAC Terms and conditions
Crypto Spotlight AAVE May Terms & Conditions EEA
The following terms and conditions (“Terms”) shall apply to the Crypto Spotlight Might Promotion (the “Promotion”) which is offered by UAB Wirex in the European Economic Area (“EEA”) (“Wirex”):
Timescale
1. The Promotion will run from 00:01AM (GMT) on 24th May 2021 until 11:59 (GMT) on 30th May 2021 (the “Promotion Period”).
Eligibility
2. This Promotion is only open to Verified users of the Wirex platform (as defined by the applicable Wirex terms & conditions: Wirex | Making currencies equal and available to everyone) resident in the EEA region (“Eligible Participants”). For the avoidance of doubt, no other Users of the Wirex platform are eligible for this Promotion.
3. The Promotion applies to Eligible Participants who makes a AAVE cryptocurrency purchase with a minimum exchange value of at least EUR 50 via debit or credit card in the Wirex app during the Promotion Period (“Qualifying Transaction”).
4. Any Eligible Participants who make a Qualifying Transaction prior to or after the Promotion Period will not be counted.
5. Qualifying Transactions are limited to one per customer during the promotion period.
Reward
6. The Reward will be paid to all Eligible Participants who make a Qualifying Transaction within the Promotion Period (“Qualifying Participants”).
7. The Reward will be paid to Qualifying Participants’ accounts within 30 Working Days of the end of the Promotion Period. Once a Qualifying Participant has received the Reward, it can be converted to traditional fiat currency through the Wirex Service.
General
8. Subject to applicable law, Wirex will not under any circumstances be liable to compensate Wirex Users, Eligible Participants, Qualifying Participants or other third parties for any losses or damages occurring as a result of their participation or engagement with this Promotion.
9. ‘Working Day’ means Monday to Friday, excluding weekends and any public holidays when the banks of England are closed for business.
10. “Reward” means the WXT equivalent to EUR5 which will be calculated by an exchange rate set by Wirex from time to time in its absolute discretion. For the avoidance of doubt, there is no specified total Reward amount for this Promotion and the Reward may be amended or cancelled by Wirex at any time.
11. Wirex may, at its sole discretion, revise any of these Terms & Conditions or terminate this Promotion at any time without prior notice to Wirex Users, Eligible Participants, Qualifying Participants or other third parties.
12. This Promotion is launched by Wirex independently and there are no partnerships between Wirex and any merchant or other third parties relating to this Promotion.
13. The Terms of this Promotion are governed by the laws of England and the parties irrevocably agree that the courts of England shall have exclusive jurisdiction to hear, settle and/or determine any dispute, controversy or claim (including any non-contractual dispute, controversy or claim) arising out of or in connection with this Promotion.

Crypto Spotlight AAVE May Terms & Conditions APAC
The following terms and conditions (“Terms”) shall apply to the Crypto Spotlight Might Promotion (the “Promotion”) which is offered by Wirex Pte Ltd in the Asia Pacific (“APAC”) (“Wirex”):
Timescale
1. The Promotion will run from 00:01AM (GMT) on 24th May 2021 until 11:59 (GMT) on 30th May 2021 (the “Promotion Period”).
Eligibility
2. This Promotion is only open to Verified users of the Wirex platform (as defined by the applicable Wirex terms & conditions: Wirex | Making currencies equal and available to everyone resident in the APAC region (“Eligible Participants”). For the avoidance of doubt, no other Users of the Wirex platform are eligible for this Promotion.
3. The Promotion applies to Eligible Participants who makes a AAVE cryptocurrency purchase with a minimum exchange value of at least USD$50 via debit or credit card in the Wirex app during the Promotion Period (“Qualifying Transaction”).
4. Any Eligible Participants who make a Qualifying Transaction prior to or after the Promotion Period will not be counted.
5. Qualifying Transactions are limited to one per customer during the promotion period.
Reward
6. The Reward will be paid to all Eligible Participants who make a Qualifying Transaction within the Promotion Period (“Qualifying Participants”).
7. The Reward will be paid to Qualifying Participants’ accounts within 30 Working Days of the end of the Promotion Period. Once a Qualifying Participant has received the Reward, it can be converted to traditional fiat currency through the Wirex platform.
General
8. Subject to applicable law, Wirex will not under any circumstances be liable to compensate Wirex Users, Eligible Participants, Qualifying Participants or other third parties for any losses or damages occurring as a result of their participation or engagement with this Promotion.
9. ‘Working Day’ means Monday to Friday, excluding weekends and any public holidays when the banks of England are closed for business.
10. “Reward” means the WXT equivalent to USD$5 which will be calculated by an exchange rate set by Wirex from time to time in its absolute discretion. For the avoidance of doubt, there is no specified total Reward amount for this Promotion and the Reward may be amended or cancelled by Wirex at any time.
11. ‘US$’ means United States Dollar.
12. Wirex may, at its sole discretion, revise any of these Terms & Conditions or terminate this Promotion at any time without prior notice to Wirex Users, Eligible Participants, Qualifying Participants or other third parties.
13. This Promotion is launched by Wirex independently and there are no partnerships between Wirex and any merchant or other third parties relating to this Promotion.
14. The Terms of this Promotion are governed by the laws of England and the parties irrevocably agree that the courts of England shall have exclusive jurisdiction to hear, settle and/or determine any dispute, controversy or claim (including any non-contractual dispute, controversy or claim) arising out of or in connection with this Promotion.
3 Likes

Yes, I meet AAVE, took advantage of it’s dip and bought it!

4 Likes

I might have done the same. :joy:
(Obviously not in relation to the above promo)

1 Like

Sorry for the question, but can I buy AAVE on Wirex?

1 Like

Hi @axpnet :wave:

Yes of course. You must activate AAVE before you can purchase it. Please follow this procedure:

  • Log in to your Wirex account Click on “Accounts”.

  • Click on “Add Account” → “Digital”.

  • Click on the + icon to the right of the aave AAVE account.

  • Ready to buy AAVE ! :white_check_mark:

Here is even more information about it:

Best regards!

3 Likes

Hello, after I have bought AAVE, I must hold them until the end of the promo or can exchange them freely with other crypto/fiat? Thanks

Hi @Gianluca_Rancati :wave:

After purchasing AAVE (“Qualifying Transaction”), you can do whatever you want with it. :+1:

Look closely at these important points of the T&Cs:

I hope to have answered your question :slightly_smiling_face:

Best regards!

1 Like

@Ali_Wirex can you please have the appropriate team follow up on the AAVE wallet details.

Can’t transfer in or out.

P.S. same for UNI & YFI

Thx.

Hello Wirex, any updates about temporarily changes for Uk customers please!

Hello there @Draw2 , we are passing this to the team. Kindly asking, are those the 3 only that are facing issues?

Hello there, @Draw2 For a short period of time only in-app exchanges are available. We will update you once this changes. Thank you

1 Like

@Ali_Wirex @wirexsupport

Hi Team,

I’ve purchased a few AAVE tokens on Wirex platform. Over the past few days, the value of the token has fallen significantly. I have created multiple tickets (531431) to request to review inability to transfer the funds to an external wallet/exchange where I can sell the coin. Please could you help review my case and suggest best way I can transfer this cryptocurrency from Wirex to an external wallet.

P.S. I have done the following but to no success:

  1. Turn off VPN services.
  2. Clear cache and cookies on your device and refresh the page. Re log-in to your account.
  3. Try to log in using another browser and/or device (PC/laptop using the web via Google Chrome is preferable). Try the incognito window as well.
  4. Try to log in after connecting to another wi-fi network. (there may be problems for users with a slow connection)
  5. Reinstall or update the Wirex application to the most recent version.

Best,
Nav.

I had the same query a little while back…

Hello there @Draw2 , this is still the case and in the near future you will be able to do so. Thank you :slight_smile:

Hi there @navdeep7810 please know that you can still do exchanges within the app to change to a different crypto, the ones that we provide. In regards to sending out to external wallet, this will become available soon.

Thank you