A Beginner’s Guide to Buying and Selling Ravencoin Cryptocurrency in Australia
If you’re based in Australia and wish to buy Ravencoin – the process is very simple. All you need to do is find a regulated online exchange in Australia that offers competitive fees, deposit some funds and decide how much you wish to buy.
The crypto market expects that investors perform extensive research with the aim of gaining the necessary knowledge and skills for informed decision-making.
Ravencoin is one of the tokens taking point in the crypto space today and is based on the blockchain network. The popularity of Ravencoin is owed to the fact that it has demonstrated significant promise right since its inception. Under decentralized finance, the tokens of Ravencoin can be traded even in the absence of a middle person
Ravencoin stands among the most promising cryptocurrencies in the market today. The blockchain network-based Ravencoin is popular for being very promising crypto in decentralized finance and has actively competed against the Bitcoin, Harmony one, and Ethereum tokens since inception.
What’s in this guide?
This guide serves to ensure that readers acquire the right information to help them buy, sell or store their Ravencoin tokens or cryptocurrencies safely and securely once they have been bought. The guide is deeply informative and is tailored to ensure that even the freshest of investors will be able to navigate the crypto market effectively.
Nonetheless, it is imperative to note that consulting with your financial advisor will go a long way in ensuring that you are well prepared for the market. Other than pointing out the stakes characteristic of the crypto market, your financial advisor will also inform you that the crypto space is risky, with many investors losing their investments daily.
Where to buy Ravencoin in Australia
The investors who have made the decision to buy the Ravencoin tokens and diversify their portfolio should use the crypto exchange, with a specific focus on the ones that actually support both Ravencoin tokens and AUD.
List of the best Exchanges to buy Ravencoin (RVN) in Australia:
Looking where to buy Ravencoin in Australia right now? Below you will find 4 of the best brokers that allow you to buy Ravencoin in Australia.
- eToro - Best broker to buy Ravencoin (RVN) in Australia
- Binance - Best exchange to buy Ravencoin in Australia for asset diversity
- Coinbase - Best exchange to buy Ravencoin (RVN) for beginners
- OKEx - Best broker to buy RVN in Australia for low-cost
A step-by-step guide to buying Ravencoin in Australia
Two primary means for buying the Ravencoin tokens exist, and investors should use the following guide for successful purchase:
Buying Ravencoin with other cryptocurrencies
The first option that enables you to buy the Ravencoin tokens is through the use of other cryptocurrencies like Bitcoin and Ethereum, among others. To do this, simply buy the other cryptocurrencies, which you will thereafter exchange for the Ravencoin. However, you need to do proper research of the account you open because the option is not provided for by every exchange account.
For instance, when you want to buy Ravencoin using Ethereum, simply select the pair that aligns with your intended trade, in this case ETC/RVC.
Buying Ravencoin using fiat currencies
Another approach to buying the Ravencoin tokens involves using the fiat currency, thus the AUD.
Follow the following steps when you are ready to buy the Ravencoin tokens:-
Step 1: Register with an exchange
To buy the Ravencoin tokens, the first thing you need to do is register to open an exchange account. There are many cryptocurrency exchange companies across the entire Australian country, hence the need to research well for the one that supports both Ravencoin and AUD.
During the registration process, there are certain personal details that you will be required to provide, among them being your name, phone number, email address and a proof of address document, possibly your utility bill. Compliance measures also require that you verify your information in adherence to the KYC rules, which is why a government-issued document such as your national identity card will be useful.
During the account registration process, make sure you set a very strong password alongside a multi-factor authentication. Doing so ensures that the account is secure against unauthorized access.
Step 2: Fund your account
After you have registered the account, the next step is funding it so that you can start buying the Ravencoin tokens. Funding can be done through a direct bank transfer or linking your credit or debit card with the exchange account.
Step 3: Buy Ravencoin
At the third step, you are finally ready to buy your Ravencoin coins because you have the account and the requisite funds. There are two options that you can use to buy the Ravencoin. First, using AUD or secondly, using another cryptocurrency. For the latter, select the pairs matching against Ravencoin. These pairs will be listed as ETH/RVC, BTC/RVC, and others. To buy with AUD, you can select the pair written AUD/RVC.
Having accurately selected the pairs you wish to exchange with, confirm the transaction and check your email for a notification that the transaction is under processing.
Check Out: 14 Reasons To Invest In Ravencoin
How to sell Ravencoin
Now you have already bought the Ravencoin tokens and have decided that you want to sell them. Follow the following steps to sell the coins just as you bought the tokens.
To sell, sign into the exchange account and go to the sell section of the exchange. Next, specify the amount of Ravencoin tokens you wish to sell and receive its relative amount afterwards directly in your account.
There are certain exchange accounts that do not support a direct exchange of Ravencoin for AUD. On this account, you have to trade the Ravencoin tokens for those of another coin and later trade these for AUD.
Which wallets can I use to hold Ravencoin?
There are two different kinds of crypto wallets that you can use to hold your Ravencoin crypto tokens. Among these two include the online and offline options. The online wallet stores your tokens online. Online wallets are also known as hot wallets, and they allow you to withdraw and sell your crypto whenever you want to.
The other type of wallet is the cold wallet. This allows you to hold your Ravencoin tokens for a long time without having to sell them. Cold wallets are safe because they store your tokens offline on external devices such as a USB drive.
How Ravencoin works
Similar to other coins in the crypto space, Ravencoin is based on blockchain, giving it a decentralized feature that makes it possible for investors to either sell or buy it even in the absence of a broker. Decentralization of the token makes financial transactions easier, cheaper, and fast because no intermediaries are involved.
Key things to consider if you’re thinking about buying Ravencoin in Australia
Some things you should consider before buying Ravencoin in Australia include:
Cryptocurrencies with a high market supply and therefore high in circulation within the market will certainly be easily sold and bought.
Tokens that have high usability can be used over a wide range of transactions. Such tokens are the best to invest in.
Every cryptocurrency is very volatile because its prices will keep changing. You need to invest in Ravencoin if you are aware of the high risk involved.
eToro – Best Platform to Buy Cryptos in Australia
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Virtual currencies are highly volatile. Your capital is at risk.
Where can I buy Ravencoin in Australia?
The only place for you to buy Ravencoin is from a cryptocurrency exchange
Are Ravencoin tokens volatile?
Just like with the other cryptocurrencies, Ravencoin tokens are highly volatile because their prices keep fluctuating.
Can I buy Ravencoin with a credit card?
Yes, that is one of the options some exchanges will give you to fund your account.