The Best 5 Ways To Buy REN In 2022

How Do I Invest In Ren In 2022?

Last Updated September 28th 2022
12 Min Read

Ren continues to use their open protocol to solve the liquidity and interoperability problems between different blockchain platforms in the crypto finance space. In this article, Trading Education shares the 5 best ways to buy Ren in 2022. With this, you will get to know and understand the pros and cons of the best exchanges to buy REN.

REN Overview

Cryptocurrency Ren
Ticker Symbol REN
Rank 172
Price $0.11051145308102893
Price Change 24h -4.56%
Price Change 7d 4.03%
Market cap $110,405,085.85
Circulating Supply 999,037,500.362
Trading Volume $15,764,279.25

Ren Protocol took advantage of the positive crypto market sentiment that engulfed the space to reach an all-time high in terms of total value locked (TVL) on 10th November 2021. On that day, TVL was $1.72 billion

By enabling interoperability between blockchains (Ethereum, Avalanche, Binance Smart Chain, Polygon, Solana, Arbitrum, and Fantom), these platforms can communicate with one another. 

In the long term, Ren Protocol has increased the efficiency of these smart contracts-backed blockchain technologies. The use of such innovative technology by these mainstream crypto projects has brought increasing demand for its native asset. 

You should know that "Ren" and "REN" are not the same. 

Ren is the name of the protocol and REN is the cryptocurrency that functions as a bond for those running nodes that power the Ren Virtual Machine (RenVM), known as darknodes.

Although REN remains a low cap digital asset, the crypto trading asset continues to see impressive investor interest. 

Once you research extensively about the Ren project, you will realize it is extremely easy to find the best crypto exchange to buy REN. 

As always, the most important questions you should aim to find answers to are how to buy REN and where can I buy REN? If you read this highly researched article to the end, you will find the best places to buy REN. 

In the end, you will realize that your preferences, geographical location, and other factors play an essential role in searching for the different ways to buy REN.

TABLE OF CONTENTS:

Best 5 Exchanges To Buy REN 

In our quest to find the best cryptocurrency exchanges to buy REN, our analysts and experts embarked on a journey to assess more than 50 exchanges that support the token for trading. 

By the end of this thorough exercise, our analysts and experts realized that several issues need to be drawn to the attention of traders and investors (especially, novices or beginners). 

These issues ranged from regulation, limits, fees, insurance, reputation, security, geographical location, customer service, payment methods, liquidity, speed, and ease of use.

The cumulative knowledge of our experts brought us to settling on a list of the best 5 exchanges to buy REN in 2022. 

These exchanges have high ratings among millions of users and have been recommended to millions of our readers. The winners are Binance, OKX, Coinbase PRO, eToro, and other Honorable Mentions.

1. eToro 

As one of the most recognizable names in the trading of assets, eToro was founded in 2007.

Originally offering assets under the stocks, indices, and commodities banner, eToro branched into the support of cryptocurrencies in 2014.

As one of the oldest exchanges in the space today, the platform has operated for close to 15 years without incident. 

Their popularity and reputation have led to millions of traders trusting the exchange for the trading of digital currencies. 

This is the primary reason why many continue to ask questions such as what cryptocurrencies do eToro support, how do I get Ren crypto on eToro, and can I buy Ren crypto on eToro?

YES, eToro supports REN. 

On 18th January 2022, eToro announced that it has added REN to its list of growing cryptocurrencies. 

To those who want an answer to how do I get REN on eToro, it is very simple. 

Create an account on eToro by providing authentic details of your full legal name, email address, active phone number, and verifiable residential address.

Once done, you will be subjected to a simple verification process. All you have to do is to upload scanned copies of a government-issued identification card as well as a credit card or bank statement (should not be more than 6 months). 

Deposit Funds to your account because without funds you cannot buy REN or eToro. 

Navigate to the REN Page, buy any amount of tokens you want, and they will be added to your investment portfolio.

Before you invest in REN crypto through eToro, let us examine the pros and cons of the exchange. 

Pros of eToro:  

✅ Supports several payment methods (in addition to bank transfers, eToro supports Maestro, MasterCard, and VISA cards; PayPal, Skrill, Neteller, Rapid Transfer, and iDEAL). 

✅ Offers relatively low trading fees. 

✅ Free deposits. 

✅ Can be accessed on the Apple and Google Play Stores by smartphone users. 

✅ Virtual funds of $10,000 on a demo account to help beginners learn how to trade. 

✅ Offers a highly secure platform (you can take advantage of two-factor authentication). 

✅ Offers REN Copy trades (you can follow expert traders and copy their portfolios). 

✅ Supports more than 40 cryptocurrencies. 

✅ Highly Liquid Exchange (cumulatively, eToro records at least $1 billion daily across all assets). 

✅ A well-regulated exchange that has offices in the United Kingdom, Israel, Cyprus, and Australia. 

Cons of eToro: 

Consistent complaints about customer service response times. 

Dormant accounts are subject to inactivity fees. 

buy REN

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

2. OKX 

Talked about at the same level as Binance and co, OKX was founded in 2017 in Seychelles. 

Per statistics, OKX is one of the best exchanges to buy crypto tokens. 

Originally known as OKEX in case a trader who once knew the exchange was confused, it became OKX as a part of a rebranding in January 2022. 

It has been the quest of the exchange to provide a platform that can help traders go about their activities in a safe, stable, and reliable environment. 

On 28th August 2020, OKX announced that it has listed REN for trading. 

Before you invest in REN through OKX, let us do a quick overview of the pros and cons of the exchange. 

Pros of OKX:

✅ Well-regulated exchange (customers have to go through an extensive verification process). 

✅ Has one of the lowest trading fees in the cryptocurrency exchange space. 

✅ Customer Service response time is one of the best in the space. 

✅ Supports approximately 262 cryptocurrencies (as of Wednesday, 16th February 2022). 

✅ Supports approximately 443 markets (as of Wednesday, 16th February 2022). 

✅ Exchange can be found by users of smartphones that can access Apple and Google Play Stores. Additionally, the exchange can be accessed on personal computers through the World Wide Web. 

✅ Supports several forms of payment methods. 

✅ Highly Secured Exchange (platform has employed bank-level SSL encryption). Aside from this, most coins are in cold storage. 

✅ High volume exchange (sees a minimum of $1 billion daily).

Cons of OKX: 

Limits (users must complete at least KYC verification level 1 to withdraw tokens). 

Does not support the United States of America. 

There are no virtual funds in the form of a demo account for crypto beginners to experiment with. 

buy REN

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

3. Coinbase PRO 

Formerly known as GDAX, Coinbase PRO is one of the oldest cryptocurrency exchanges in the space today. 

The platform was launched in 2015

With a primary vision of providing users with a chance to trade on an insured and a high security-backed exchange, this platform can be spoken of in the same bracket as Binance and OKX. 

This is because it is among the largest exchanges in terms of liquidity. 

Coinbase PRO has more than 70 million users in over 100 countries. 

On 6th October 2020, through a blog post, Coinbase announced support for REN. 

The top market for REN on Coinbase Pro is REN/USD

Before you invest in the exchange, kindly do a thorough study of the Ren project. Once you understand the possibilities of the protocol, you can pour liquidity into its crypto token. 

Let us analyze the pros and cons of Coinbase PRO.

Pros of Coinbase PRO: 

✅ Offers low fees. 

✅ Multi-factor authentication is present to help secure your custodial wallet. 

✅ Supports a range of payment methods such as bank wire transfer, debit card, Apple Pay, Google Pay, and PayPal). 

✅ Beginners have found the user-interface friendly. 

✅ Provides advanced trading features for users. 

✅ Accessibility is high (smartphone users can find the Coinbase PRO app on Google and Apple Stores). 

✅ 364 markets are supported (as of Wednesday, 16th February 2022). 

✅ Highly liquid exchange (records minimum of $1 billion daily). 

✅ 122 cryptocurrencies are supported (as of Wednesday, 16th February 2022). 

✅ Well-regulated exchange. 

Cons of Coinbase PRO: 

Customer support problems (more than 70 million users make it difficult for you to get in touch with representatives of the company). 

Does not support a lot of coins for a cryptocurrency exchange. 

buy REN

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

4. Binance   

As part of the Binance ecosystem, Binance Exchange was launched in 2017 to make up for the huge interest in cryptocurrencies by traders. 

The year 2017 saw assets such as Bitcoin cross $20,000 for the first time. 

With millions of people searching for the next golden goose, Binance Exchange zoomed into the space at the right time. 

On 25th September 2019, Binance announced support for REN/USDT. 

Before you invest in REN through the exchange, it would be in your interest to analyze the pros and cons of Binance.

Pros of Binance: 

✅ Staking rewards. 

✅ Highly accessible exchange (can be found on Google Play and Apple Stores). 

✅ Offers a highly secure trading platform. 

✅ Well-regulated exchange. 

✅ Low trading fees. 

✅ 1,219 markets are supported (as of 16th February 2022). 

✅ 314 cryptocurrencies are supported (as of 16th February 2022). 

✅ Supports direct crypto wallet deposits as well as bank cards. 

✅ Best exchange by daily volume (more than $11 billion as of writing).

Cons of Binance: 

Limited access for United States residents. 

PayPal, Skrill, and co are not supported as payment methods. 

Several beginners have reported the complexity of the trading platform. 

buy REN

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

5. Honorable Mentions 

Although we have provided you with the best exchanges to buy REN as per volume, security, and speed, they are not the only ones. Other best exchanges to buy REN include but are not limited to AAX, DigiFinex, BitMart, Crypto.com, Kraken, FTX, Huobi Global, Bithumb, SushiSwap, KuCoin, Currency.com, Bitvavo, Bancor, WazirX, Gemini, Gate.io, Bybit, Indodax, Uniswap, Bittrex, Poloniex, Coinone, CEX.IO, Liquid, BKEX, and Nami.

Ren: Introduction To The Crypto World Of An Interoperable And Liquidity Protocol 

In the crypto finance space today, there are thousands of projects. With that said, some of the protocols are layer 1 technologies that process transactions. 

Others are smart contracts-backed technologies that run several decentralized applications. 

Ren Protocols fall under the category of interoperable technologies that continue to solve problems between the different chains in the space. 

Other interoperable blockchain projects in the space include but are not limited to Cosmos, Polkadot, Harmony, Wanchain, Chainlink, Hybrix, and Loom Network among others.

The Ren Protocol plays an extensive role in the crypto finance space solving different problems. 

As a result, it comes into contact with blockchain technologies, decentralized finance (DeFi), decentralized protocols and applications (collectively known as DAPPS), stablecoins, decentralized oracle networks, and non-fungible tokens (NFTs). 

These are not the only terminologies in the space. 

As you take risks with your money, you will come across more terminologies. 

Trading Education believes understanding these words will be invaluable to your trading and investing journey.

  • Ren, like all other crypto projects, was built on blockchain technology. Blockchain technology helps in the creation, trading, storing, and distribution of REN. Suppose Ren was an automobile, imagine blockchain as the road that allows REN to move from one person to the other. As of Wednesday, 16th February 2022, there are more than 17,500 projects in the space. One is called Ren and there are others such as Avalanche, Iotex, Tron, Eosio, Dogecoin, and Dash among others. 
  • REN, like all cryptocurrencies, has the element of divisibility. You can divide REN tokens into 8 decimal points (1.00000000). This means that without huge sums, you can still be a REN owner). As of writing, REN was trading for $0.3746 and with $0.25, you can buy approximately 0.66737853 REN. 
  • Exchanges that support REN such as eToro, Coinbase PRO, and Binance are independent platforms built for the trading of fiat currencies for crypto tokens and crypto coins for other coins. 
  • Crypto Wallets that support REN such as Lumi Wallet, Free Wallet, BitPanda, Bitcoin Knots, Coinbank, TezBox, and Coinbase Wallet are software used to access Ren Protocol. They play a great role in helping store and transfer REN tokens safely and securely. 

These are some of the terminologies you will come across as you learn more about the best way to buy REN. 

To find a platform that can help you get the best experience out of investing in REN, do not forget to find answers to the questions where can I buy REN and how to buy REN

Don't Miss: Ren Price Predictions

Comparison For Payment Methods Used In Buying REN 

When it comes to investing in REN, there is no one size fits all approach. There is a range of payment methods that suits the geographical location of users. 

Some of the payment methods are; 

PayPal ― Some of the recommended exchanges list this payment method because their clients can deposit and withdraw funds without any fees. This is the primary reason why PayPal is seen as one of the easiest ways to buy REN. 

Cash ― Due to efforts to clamp down on the crypto finance space, this has become the only anonymous way to buy REN. It is not impossible but it will be difficult to buy REN through cash, as of 2022. 

Credit/Debit Card ― Using mostly accepted cards (Maestro, MasterCard, and VISA), you can buy REN from an exchange that accepts this payment method. Many experts believe it is one of the easiest and fastest ways to buy REN.     

Bank Transfer ― As one of the most secure ways to buy REN, this method is relatively slower than the others.

buy REN

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

The Cheapest Place To Buy REN 

eToro is the cheapest place to buy REN. You can deposit funds without paying deposit fees. This means that your chances of buying more REN tokens on eToro are relatively bigger than competing exchanges.

The Safest Place To Buy REN 

Binance, eToro, Coinbase PRO, and OKX are the safest places to buy REN in 2022. This is because they have the necessary security encryptions to ensure your custodial wallets are highly protected.

The Easiest Way To Buy REN 

eToro is the easiest way to buy REN. eToro is highly accessible and supports a range of payment methods. Therefore, you can buy REN effortlessly. Aside from eToro, fully verified members of Binance, Coinbase PRO, and OKX can vouch for these exchanges as some of the simple ways to buy REN.  

The Fastest Way To Buy REN 

eToro is the fastest way to buy REN today. As a high-volume exchange, there are no slippages on the platform. With a positive balance on PayPal, credit card, or bank, you can use eToro to buy REN in a short period. 

How Do I Buy REN Near Me? 

Since REN cannot be found on ATMs like Bitcoin, the only way you can buy REN near you is to be a verified customer of eToro, Binance, OKX, or Coinbase PRO. Since these exchanges are highly accessible on smartphones and support many payment methods, you can buy REN with just a few taps. Within a short period, the number of RENs bought will be added to your account.

Read Also: How To Trade Ren With $100

Best Ways To Buy REN Anonymously 

The best way to buy REN anonymously is to join an investment pool. That way, you maintain your anonymity.

Best Ways To Buy REN With PayPal 

The best ways to buy REN with PayPal are eToro and Coinbase PRO. This is because they are exchanges that support PayPal as a payment method.

Best Places To Buy REN With A Credit/Debit Card

The best place to buy REN with a credit/debit card is through exchanges Binance, Coinbase PRO, and eToro.

buy REN

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

Best Ways To Buy REN With Bank Account 

From our list, the best ways to buy REN with a bank account are eToro and Coinbase PRO.

See You On the Other Side!!! 

There you have it. Trading Education has given you an extensive look into the 5 best ways to buy REN. Read about the pros and cons of investing in REN, take a stake in the coin if you want to, and see where it will take you as per your investment goals. 

eToro — The Best Platform To Buy REN 

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.