What is Avalanche (AVAX)?
Avalanche (AVAX) is a layer one blockchain that was launched in September 2020 by Ava Labs, with the aim of delivering a fast and affordable blockchain solution for decentralized applications and custom blockchain networks. Its native token, AVAX, is a hard-capped digital asset that serves as the platform's payment, security, and connection functions.
The platform gained popularity in the DeFi (decentralized finance) space due to its ability to handle up to 6,500 transactions per second without compromising scalability, making it a credible opponent to Ethereum. Avalanche has also been working on developing its own ecosystem of dApps and DeFi, and has integrated different Ethereum-based projects such as SushiSwap and TrueUSD.
A key advantage of Avalanche is its focus on interoperability, as it aims to improve the connection and interaction between different blockchain networks. To this end, Avalanche has been developing bridges to enhance interoperability between its own ecosystem and Ethereum, allowing for the seamless transfer of assets between the two networks. Learn more
How to Deposit AVAX Into Your Coinmetro Account
For all information on how to deposit AVAX into your Coinmetro account, please see the following help center article: How to Deposit AVAX.
How to Withdraw AVAX From Your Coinmetro Account
For all information on how to withdraw AVAX from your Coinmetro account, please see the following help center article: How to Withdraw AVAX.
Important Note - To request a withdrawal, your account profile needs to be verified as well as having the funds to cover your withdrawal. The first time a withdrawal is made to a destination, the destination needs to be confirmed via e-mail. If you have 2-Factor Authentication enabled for withdrawals, you will be asked to input the code for each withdrawal, approved or not. We suggest enabling 2-Factor Authentication to protect your account.
Withdrawals waiting for approval can be canceled and the withdrawal status can be found by selecting the Wallet on your Coinmetro Dashboard. Please note that already-approved withdrawals cannot be canceled. If there is no Cancel button visible, this unfortunately means the withdrawal can no longer be canceled, and you will find a transaction ID (TXID) instead. This is a link to the relevant transaction hash on a Blockchain Explorer website where the status can be checked further.