Ren is a blockchain ecosystem designed to provide liquidity between different blockchains and power decentralised applications (dApps) that preserve the privacy of all users and data. In this guide, we will be looking at how to buy the REN token and how the project is revolutionising the decentralised finance (DeFi) space.
You can purchase Ren online using a cryptocurrency exchange. This is the easiest way to buy and sell cryptocurrencies—all you need is a computer or mobile device. See below for our top picks of platforms that offer Ren and simple steps to buy Ren.
Decide which platform you want to use to make your REN purchase. If you care about the safety of your funds, it is advisable to select a broker or exchange that is reputable and regulated. You can find a shortlist of platforms in the next section, or click on the link below to register with our top choice of platforms that offer REN.
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Click on the sign-up button and fill in the registration form to create an account with your chosen platform. You may also need to provide documentation such as a photo ID or proof of address to comply with the platform’s KYC measures. Then you can click “Deposit” and fund your account with the payment method of your choice.
Search the platform for the trading pair for REN and your local currency. If there isn’t one, you may have to buy another currency first which can be traded for REN, such as BTC or USDT. Enter how much you want to buy in a buy order and make it a limit order to specify a price or a market order to buy immediately at the current price.
You have a choice when it comes to platforms that offer REN. However, no two platforms are the same and they will likely differ in what fees they charge and which features they offer, which is something to bear in mind when selecting one. You can see a comparison of the best platforms for buying REN in the following table.
Make sure you learn as much as you can about a project before deciding whether it is worth your investment. Here are some factors about Ren that you might want to start with.
Cross-Chain Liquidity. Ren overcomes barriers to DeFi participation by making liquidity available across different blockchains for all dApps. This means that assets such as Bitcoin, Bitcoin Cash, and Zcash can be bridged to Ethereum and used in Ethereum-based applications.
Strong Support. Ren’s founder has also founded other successful projects, such as Virgil Capital, Neucode, and KeeperDAO. What’s more, Ren has developed partnerships and integrations with many leading crypto players, including Binance Smart Chain, Uniswap, 1inch, and MyEtherWallet.
Token Demand. There is a fixed supply of REN, all of which is already in circulation. In order to operate a “Darknode” and earn fees for powering and securing the Ren network, you must lock up 100,000 REN. This means that if more people run Darknodes, REN could become more valuable.