A Beginner’s Guide to Buying and Selling Ravencoin Cryptocurrency in the USA
If you’re based in the USA and wish to buy Ravencoin. All you need to do is find a regulated USA exchange, deposit funds, and decide how many Ravencoin tokens you want to buy.
The crypto space has gained significant attention during the 21st Century, with different cryptocurrencies overwhelming the investment space. The different options give you the chance to ensure your investment portfolio is as diversified as possible. Some of the cryptocurrencies available for investment include Ravencoin, which has since gained significant popularity in the crypto space.
The following guide will lead you throughout the entire process of buying the Ravencoin tokens, providing a rather detailed and procedural process for successful buying. It is however important to note that seeking the guidance and counsel of a crypto market professional is critical, as this can be an extremely dangerous avenue to invest in if you do not know what you are doing. Elements such as risk and loss are very common in this field, and there is no one who is safe especially if they are beginners.
What's in This Guide?
- QUICK GUIDE: HOW TO BUY RAVENCOIN IN THE USA
- Where To Buy Ravencoin (RVN) In The USA
- A step-by-step guide to buying Ravencoin in the USA
- Store in a crypto wallet
- How to sell Ravencoin
- Things to consider when buying Ravencoin in the USA
QUICK GUIDE: HOW TO BUY RAVENCOIN IN THE USA
- Open an account with a cryptocurrency exchange.
- Verify your account.
- Go to the deposit section
- Go to the platform and select Ravencoin
- Enter how many Ravencoin coins you want to buy.
- Check the details and confirm your purchase.
Where To Buy Ravencoin (RVN) In The USA
Are you searching for how to buy Ravencoin in the USA? Well, there are hundreds of crypto exchanges and brokers in the USA. This can make it hard to know which platform is right for you.
List of the best Exchanges to buy Ravencoin (RVN) in the USA:
Looking where to buy Ravencoin in the USA right now? Below you will find 4 of the best brokers that allow you to buy RVN in the USA.
- Binance - Best exchange to buy Ravencoin USA for asset diversity
- Coinbase - Best exchange to buy Ravencoin (RVN) for beginners
- OKEx - Best broker to buy Ravencoin USA for low-cost
A Step-by-step Guide To Buying Ravencoin (RVN) In The USA
Follow the following steps to start buying Ravencoin:-
Step 1: Register an exchange account
Registering a crypto exchange account is the first step for anyone looking to invest in the crypto market. There are multiple exchange accounts throughout the US
The first step in investing in this market is to open an exchange account. While there are many exchanges in the USA, not all of them will support Ravencoin. For this reason, it is imperative that you conduct thorough research so that you can know the ones that support both Ravencoin tokens and USD.
The amount of broker fees that you will be required to pay is another key consideration. In this regard, it is recommended that you choose an exchange with the least charges so that it does not eat into your ROI. Worth noting also is that you should choose an exchange account that supports many cryptocurrencies, an attribute that makes trading a lot easier.
Registering for an exchange account is a process so easy that no technical knowledge or skill is required whatsoever. The process is also brief, and only requires a few personal details like your name, phone number, email address and later verification of your identity.
Step 2: Fund the account
Funding the account is the second step, and requires that you deposit money into the account. The funds are intended for completing the transaction, and require that you deposit USD should it be acceptable by the exchange account. If the account supports this approach, all you need to do is link your credit or debit car with the exchange. Alternatively, you can link your bank account directly to the exchange account.
For an exchange account that does not support USD as a means for buying Ravencoin, you first have to exchange the Ravencoin with a different cryptocurrency. For instance, if you have Ethereum, you can exchange it for Ravencoin at the prevailing exchange rates. In doing so, you are liable for a specified processing fee once you fund the account.
Step 3: Buy Ravencoin
With a registered account and funds in your account, all you are left to do is buy the actual Ravencoin coins. Purchasing Ravencoin is doable in a fast and easy process, and simply requires that you go to the sell section of the exchange and specify the amount you wish to buy. Next, confirm the transaction and log in to your email where you will get a notification to confirm that the transaction is underway.
There are two different orders that can help you in buying Ravencoin. These are the market order and the limit order. With the market order, you will be buying Ravencoin at ongoing prices. A market order is settled instantly as soon as you confirm your order.
The limit order on the other hand allows you to buy Ravencoin at a specific price. All you need to do is set a low price at which you would like to buy Ravencoin and then wait for the value of the token to depreciate to that price, after which your order will automatically be completed.
Read Also: 14 Reasons To Invest In Ravencoin
Store Your Ravencoin (RVN) In A Crypto Wallet
After buying the Ravencoin, you must find a safe place to store them, and that is where the crypto wallets come in. Crypto wallets will keep the tokens safe and secure from the vulnerabilities of the internet like hacking. You can choose either a hot or cold wallet. The hot wallet is easy to retrieve whenever you are ready to sell.
The other type of wallet is a cold wallet mainly concerning hardware devices such as USB drives. It is the best option for institutional investors who are interested in holding large amounts of the token. Cold wallets will also do well for investors looking to hold the tokens for prolonged speculations.
How To Sell Ravencoin (RVN)
Selling Ravencoin is as easy as it is to buy them. Ravencoin can be sold directly from the exchange. Simply go to the sell section of your account and input the number of tokens you would like to sell. Confirm your details and wait a few seconds for your transaction to be processed.
You can sell Ravencoin for USD, which you can later withdraw from the exchange, or you can sell it by exchanging it with other cryptocurrencies. However, not all exchanges have both options, so you need to consider such things before opening an exchange account.
Things To Consider When Buying Ravencoin (RVN) In The USA
Some things you need to consider when buying Ravencoin include:
Availability of the tokens is a principal consideration because when the Ravencoin are highly available, you can easily buy and sell the tokens. The number of tokens in circulation is a direct measure of availability.
The Ravencoin stands among the most volatile tokens in the crypto space. Before investing, you must take note of the involved risk and ensure that you are ready for any eventualities that may result from the market instabilities.
You also need to consider how the coin has been performing over the past few months and weeks, and use this judgment to predict where it is headed in terms of value.
Buying Ravencoin in the USA is a very easy process. First, you have to open the exchange account and fund it before you can buy the tokens. Once these are ready, find a crypto wallet for storing them as you prepare to sell them.
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. This is not meant to be tax advice or financial advice of any kind. The above information we compiled from online tax forums. Please, consult a CPA or lawyer if you have questions about filing your tax return, forms to use, or what is/is not taxable. eToro is not a tax advisor.