How To Buy Ren (REN) In Australia 

A Beginner’s Guide to Buying and Selling Ren Cryptocurrency in Australia

Last Updated May 24th 2024
5 Min Read

If you’re based in Australia and wish to buy Ren – the process is very simple. All you need to do is find a regulated exchange, deposit some funds, and decide how many Ren tokens you want to buy.

The cryptocurrency market has grown significantly over the past few years. Currently, there are around 10,000 coins in the market, and the global crypto market now has a trillion-dollar valuation. However, despite this growth, most traditional investors are yet to join the sector. 

How To Buy In Ren In Australia – Quick Guide

To help you buy Ren coins as quickly as possible, we broke the process down into a few easy steps:

  • Step 1: Open an account with eToro – Head to eToro’s website and click join now to open a new account.
  • Step 2: Verification – By uploading essential documents that show proof of identity and home address, you will get your account verified in a short time. 
  • Step 3: Deposit – Fund your new eToro account with a minimum of $10. 
  • Step 4: Search for Ren on eToro – Search for REN or Ren in the eToro crypto market.
  • Step 5: Buy REN – Enter the amount of the worth of Ren you want to purchase in United States Dollars (USD), then click Open Trade. 

That’s it! By following these easy steps, you can invest in Ren in Australia in less than 5 minutes.

 

buy REN

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Where To Buy Ren (REN) In Australia

Are you looking to buy Ren in Australia? Well, there are hundreds of crypto exchanges and brokers in Australia. This can make it hard to know which platform is right for you. 

List of the best Exchanges to buy Ren (REN) in Australia:

Looking where to buy REN in Australia right now? Below you will find 4 of the best brokers that allow you to buy REN in Australia. 

  • eToro - Best broker to buy Ren (REN) in Australia
  • Binance - Best exchange to buy Ren in Australia for asset diversity
  • Coinbase - Best exchange to buy Ren (REN) for beginners
  • OKEx - Best broker to buy Ren in Australia for low-cost

A Step-By-Step Guide To Buying Ren In Australia

If you want to buy Ren in Australia, you can use other cryptocurrencies or fiat currency. 

Buying Ren with other cryptocurrencies 

The first option is buying Ren with other cryptocurrencies. If you already have an exchange account and have bought other cryptocurrencies, it is possible to swap them with Ren. Swaps are usually done by selecting trading pairs such as BTC/REN, ETH/REN and more. 

Buying Ren with fiat currency 

The other option is to buy Ren with fiat currency. This is the most popular way of buying cryptocurrencies. However, some exchanges could have restrictions over which tokens can be bought with fiat directly. Hence, you need to ensure the exchange will support the purchase of Ren with fiat if you want to use this option. 

To buy Ren in Australia, follow the below steps:

Step 1: Create an account 

The first step is to create an account on a cryptocurrency exchange platform. The signup process can differ between exchanges, but it is simple and fast in most cases. 

An exchange will require you to provide your name and contact information to create your account. Some exchanges will only approve the account opening if you provide documents that will verify your identity. Such documents include a government-issued ID. 

Ensure that you set up a strong password when creating the account. It is also important to have two-factor authentication to prevent unauthorized access to the account.

Step 2: Fund the account

Once your account is approved, you can now deposit funds used to buy Ren. You can fund the account by linking your credit or debit card to the exchange. The funds needed in the purchase will be deposited from the card to the exchange. 

Step 3: Buy Ren 

Now that you have the means to buy, the next step is to create your order. To buy, go to the order section of the exchange and create an order for the Ren tokens you want to buy. Once the order is filled, you will receive the purchased tokens in your account.

There are two main types of orders: a market order and a limit order. A market order will be settled almost instantly at the ongoing market prices. With a limit order, you select the price at which you want to buy the token, and once this price is reached, your purchase will be automatically completed. 

buy REN

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

How To Sell Ren

If you want to sell Ren, the process will be similar to the purchase process. Just like buying, you can choose to sell for fiat currency or other cryptocurrencies. If you want to sell and withdraw money from the exchange, you can use your bank account or card. 

Read Also: How To Trade Ren With $100

Which Wallets Can I Use To Hold Ren 

If you have bought tokens that you do not want to sell for a while, it is best to take them out of the exchange and deposit them into a crypto wallet. A crypto wallet will keep your tokens secure. 

You can choose from hot wallets and cold wallets. Hot wallets will store your assets online. This way, you can easily retrieve them when you want to trade. On the other hand, cold wallets will store your tokens offline. Cold wallets can be in the form of USB devices and are mainly used when holding many tokens that will not be sold for a long time.

How Ren Works

The Ren blockchain serves as the next advancement in the technology and financial sector. The blockchain offers speeds and efficiency in financial transactions. Unlike the traditional financial market that is highly centralized and controlled by a single institution, Ren provides decentralization to ensure users have control over their finances.

Key Things To Consider When Buying Ren In Australia 

Before buying Ren in Australia, you should consider the following factors:

Price-performance 

It is important to analyze the performance of the token over time. This can help you know what to expect in the price movements as a trader. Historical price data about any token is readily available on many platforms. 

Don't Miss: Ren Price Predictions

Potential 

You should also look into the potential of the Ren blockchain. The adoption of a blockchain usually affects the value of the native token. If the Ren blockchain has a high level of adoption, it will positively affect its future prices. 

Volatility 

Every cryptocurrency is volatile. Therefore, you need to assess whether you are ready to take the risks that come with crypto investments. 

eToro — The Best Platform To Buy REN In Australia

eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

FAQs

Where can I buy Ren?

If you want to buy Ren, you can do so from a cryptocurrency exchange platform. Cryptocurrency exchange platforms facilitate the process of buying and selling tokens.    

Is Ren volatile?

Every cryptocurrency is volatile. The prices can fluctuate quickly and by high margins, so ensure you are ready for this kind of risk before investing.     

Can I buy Ren with a credit card?

Yes, it is possible to buy Ren with a credit card. All you need is to link that card to the exchange and deposit the amount you want to use in your purchase.