What Is Ravencoin? Should You Invest In RVN And Where To Buy It?

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

Last Updated November 7th 2022
21 Min Read

Investing in cryptocurrencies can make you rich – many have already hit it big with Bitcoin and several altcoins. It is all about knowing the right coins to invest in, when to buy, when to sell, where to buy and sell, as well as where to store your digital assets for safekeeping.

Choosing the right coin to invest in is probably the biggest challenge for most people. There are currently thousands of altcoins out there, and backing the wrong one will mean losing your money. In this post, we are going to take on Ravencoin.

So, what is Ravencoin? Should you invest in Ravencoin (RVN)? And where can you buy Ravencoin? We understand that many readers may have many more questions about this digital coin, and we will attempt to provide as many relevant answers as possible to these questions.

At Trading Education, we do not believe in making decisions for our readers. It is essential, therefore, that you read every part of this guide carefully to get the most relevant information and make the right decision about investing in Ravencoin. Let’s get on with it.

What Is Ravencoin?

If you know anything about Bitcoin, then you know a little about Ravencoin. It is a hard fork of Bitcoin and one of the altcoins that are making waves now. It is one of the altcoins that you can invest in with the hope of making a profit.

Ravencoin was launched as an open-source cryptocurrency platform with unique functionalities. Like other cryptocurrency platforms, it is based on a software. The software seeks to incentivize a network of computers that allows technical users to create different projects and tokens for specific purposes.

From what we have discussed so far, you can tell that Ravencoin has a robust infrastructure that allows for the creation of enterprise solutions. It boasts of a reliable protocol that can be used to create and transfer tokens that can serve as real-life assets. In fact, it is a reliable platform for the creation and transfer of securities, gold, silver, and even tickets and airline miles. Every token or asset created on the platform can also be tracked for transparency and other purposes.

One of the things the Ravencoin protocol seek to do is to break the monopoly of large mining operations of big mining operations and sophisticated equipment. It is also considered as an alternative to platforms that are solely based on smart contracts, like Ethereum. Though it is still recognized as a fork of Bitcoin, the code was properly modified to suit regular developers and users.

Ravencoin is well-respected as a cryptocurrency platform because it has all the important features and includes additional features that make it an improved platform. Many users who are conversant with the crypto universe consider it as an advanced platform, which is why the token is seen as a good investment option for investors.

Before we draw the curtain on what Ravencoin means, it is important to state that it has a tradable token. The token is our major subject matter here. This is primarily because it is the investment vehicle regular users (traders and investors) will have to deal with. This is the digital asset you will be buying if you decide to invest on the platform.

Read Also: Could Ravencoin Be A Millionaire-Maker Coin?

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

Background Information About Ravencoin

Ravencoin has a rich history, just like a few special cryptocurrency platforms. It is traceable to a trio of successful businessmen, including Bruce Fenton, Tron Black, and Joel Weight. The special thing about these individuals is that they are seasoned businessmen. Bruce Fenton is also a standout figure because of his prominent involvement in The Bitcoin Foundation.

Before his role at the Bitcoin Foundation, Bruce Fenton had a remarkable career in investment banking. He served as the vice president of Morgan Stanley in the 90s. He was also a managing director of Atlantis Consulting, serving for an impressive 13 productive years. He is currently active as a managing director of Chainstone Labs, a stealth fintech startup that has performed remarkably in recent times.

It is important to mention that the other individuals behind the Ravencoin project did very well in their previous careers. Tron Black, for instance, is a respected software developer with over 30 years of experience. He was a successful CEO of a software company before getting involved in the Ravencoin project. Weight, on his own, is a chief technology officer at Overstock, a popular online retailer. The reputable software developer had served in a prominent position, including being the COO and CTO of Medici Ventures.

We focused on the background of the Ravencoin founders because there is a general agreement that the platform does not have one of the strongest teams in the cryptocurrency universe. We just want to point out that some of the individuals behind the platform and its native token are respectable individuals. Though all of them are not actively involved in the platform, their works still speak for them.

How Does Ravencoin Work?

It is always helpful to understand how a cryptocurrency platform works, even if you are not the technical type that will use the platform to create a token or enterprise solution. It will give you an idea of what the future of the coin holds.

Ravencoin is one of the crypto platforms with a fully-developed blockchain, commonly referred to as a public ledger. It works by storing a history of bits transactions on this public ledger. The use of blockchain invariably means that the transfer and ownership of digital assets can be tracked and verified as they go from one person to another.

As we have mentioned already, Ravencoin supports the creation of different digital assets. To create a new asset, the Ravencoin token will be used. This is a unique function that allows the creators to assign the new token a unique identifier and decide on the rules that will govern its usage.

One of the things that make the Ravencoin network attractive is the fact that developers can incentivize owners of the tokens they have created. This can be used to offer dividends and incentives to anyone who uses or own the token in question.

It is important to add at this juncture that you can get into Ravencoin investing without getting involved in the technical aspects. You can simply buy the Ravencoin token from the right sources and sell it for profit. However, this does not work as simply as it sounds. You need to understand the market and follow it religiously to know when to buy, when to hold, and when to sell your assets.

Check Out: Why Ravencoin Is Going To Explode

What Makes Ravencoin Unique?

Uniqueness is one of the factors that drive growth in the cryptocurrency scene. So, what makes Ravencoin unique? The right answer is “a lot.” There are many things that make Ravencoin great. As we have mentioned multiple times, it is a hard-fork of Bitcoin, the mother of all cryptocurrencies. There are notable improvements to the code, however, and we will briefly consider what they bring to the table.

There are four outstanding features that differentiate Ravencoin from Bitcoin, including:

  • Modified issuance schedule that offers a block reward of 5,000 Ravencoin tokens (RVN).
  • Reduction of standard block time to about one minute.
  • Improved cap supply to the tune of 21 billion (which is about a thousand times higher than that of Bitcoin (BTC).
  • A new mining algorithm (KAWPOW, formally X16R and X16RV2).

It is important to also note that Ravencoin solves some known problems in the cryptocurrency scene, including asset transfer and trading over blockchains. This prevents the accidental destruction of an asset when it is traded against the coins it was created with. This is a common issue with Bitcoin.

The Ravencoin protocol also ensures that RVN (the native currency) is burnt in order to issue new tokens on the network. These assets can be anything, including shares of projects, securities, airline miles, an hour of employee's wage, as well as real-world custodial assets, including gold and silver.

You should also know that the Ravencoin platform is an evolving network. There are concrete plans on the ground – the future versions of the protocol are expected to support the integration of messaging and voting systems.

More About the Ravencoin Token (RVN)

We've severally mentioned that Ravencoin has a native currency that serves every user. In many ways, this is an equivalence of BTC, the real Bitcoin that has made many millionaires. It is the digital asset most traders/investors will be dealing with when they choose to invest IN Ravencoin.

The Ravencoin token (RVN) is unique in many ways. For a start, it is the only digital currency that can be burnt to issue a new token on the parent platform. As stated earlier, it trades under the ticker symbol – RVN.

Ravencoin is not among the most popular cryptocurrencies on the market right now. That doesn’t mean it is not a good investment option. In fact, it has been described as a good token for long-term cryptocurrency investment. The price is modest, but no one can confidently tell what it will be worth in the future. Predictions are generally favourable.

It is also important to note that Ravencoin is like other cryptocurrencies in many ways. It is a volatile digital asset as the price is subject to unpredictability. It has seen good days and bad days, but traders and faithful investors are mainly focused on the future of the coin and its platform.

Should You Invest In Ravencoin?

If you are seriously considering investing in Ravencoin, this is the part you want to pay undivided attention to. We are not going to tell you straight away to invest in Ravencoin, but this is where you will find the information that can help you make an informed decision about the coin.

You can invest in any cryptocurrency of your choice, but it is always important to consider the past, the presence, and the future of any digital asset before making a financial commitment.

There are many reasons you may want to invest in Ravencoin, just as there are many reasons you need to think twice about the idea. It is all about risks, and we will explore both the positive and negative sides of investing in the coin right now.

Don't Miss: Will Ravencoin Make Me Rich In 10 Years

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

Is Ravencoin Safe?

Before we delve into the merits and demerits of investing in Ravencoin, it is important to consider the safety of the platform and its native coin.

Ravencoin is generally considered a safe investment vehicle. As a coin of Bitcoin, it has some of the best security features of a cryptocurrency. It is protected by the powers of mathematics and decentralization.

Ravencoin uses a special proof-of-work mining algorithm known as KAWPOW. As hinted earlier, this replaced the X16R and X16VS algorithms, which were both great. In addition to its incredible security features and potentials, the algorithm is designed to be ASIC resistant.

Though there has been a successful hack of the Ravencoin platform in 2020, the network is still considered safe. At least, none of the existing coin owners was affected by the hack.

It will take more than one article to fully explain the security features of the Ravencoin platform, but you should be assured that it is a highly secured platform. It is unlikely that you will lose your coin, especially if you invest the right way.

Major Reasons To Invest In Ravencoin

Regardless of the risks involved in trading or investing in Ravencoin, many have invested already. Some have made reasonable profits and some have lost money, which is normal in cryptocurrency investing

Are you looking for concrete reasons to invest in Ravencoin? We have a few solid ones for you right here:

Ravenvoin is a Hard-Fork of Bitcoin

Bitcoin is the mother of all cryptocurrencies, and any token affiliated with it is expected to do well. As stated already, Ravencoin is a hard-fork of Bitcoin. It shares all of Bitcoin’s important features with several outstanding improvements. Its hashing algorithm is one of the notable improvements as it enables the creation and transaction of tokens in a quick and secure manner.

Ravenvoin Has a Fully-Developed and Functional Blockchain

Ravencoin has a similar blockchain to that of Bitcoin, in the sense that they are both fully developed and functional. Though the network allows developers to make improvements, the base layer is already developed and doesn't require any transformation. This makes it a more secure blockchain than Ethereum.

Ravenvoin Has Real-World Use

This is one factor that makes Ravencoin a lot more attractive than Bitcoin. It is one of the altcoins with real-world use. Ravencoin can be used to issue tokens that are classified as real-world assets, including gold, silver, securities, shares of stocks, virtual goods, tickets, and more. Binance Smart Chain also offers a tokenized version of RVN that can be used for trading, as well as lending and borrowing in DeFi applications.

It Was Launched By Successful Individuals Based On a Great Vision

We provided brief background information about some of the founders of Ravencoin to drive home the point that it was started by a team of successful individuals. It is important to also note that the network was started with a great vision in mind. The founders believed that blockchain technology can be used to revolutionize the world, and they have made their own noble contributions.

Ravenvoin Was Developed With Securities Regulatory Compliance in Mind  

From all indications, the founders of Ravencoin did their homework before launching the project. They understood the importance of creating a technology that is compliant with existing regulations. It is highly unlikely that Ravencoin will ever be in trouble with the SEC or any other regulatory commission.

The Ravenvoin Crypto Has a Powerful and Growing Community

One of the reasons the crypto scene has been bubbling in recent years is the fact that it has won the hearts of many. Though Ravencoin is not among the most popular cryptos, it has a solid community that is growing steadily. This powerful community is one of the major reasons Ravencoin has a huge market, though it is still at a very early stage.

Ravenvoin Is a Cheap Cryptocurrency

At the time of writing this piece, Ravencoin was trading at $0.03 per token. That’s is just a fraction of the price of Bitcoin. It is significantly lower than the prices of several popular altcoins, and this is something beginner traders/investors should be happy about. You can taste the waters of Ravencoin investing with very little money, minimizing your risks while confirming whether it is the right digital asset to add to your portfolio.

Reasons To Think Twice Before Investing In Ravencoin

So far, we’ve focused on the good sides of Ravencoin, and it will be tempting to believe that there are no drawbacks to investing in the coin. This is never the case, especially once a cryptocurrency is involved. Here are a few reasons to think twice before investing in Ravencoin:

Ravenvoin Is Volatile

Like all cryptocurrencies, Ravencoin is volatile. While this can work to your advantage, it can also work to your disadvantage. Prices of cryptocurrencies are mostly subject to speculations. Volatility represents risks, especially for traders. Volatility also affects long-term investors, especially if they buy tokens during a bullish market trend.

Ravenvoin Is a Relatively New Coin

Ravencoin was launched in 2018, meaning it is just four years. It is relatively a new digital currency, and all new currencies should be traded with caution. The price of the coin may rise significantly in the future. At the same time, there is a decent chance that it will not grow as fast and steady as many have predicted.

Where Can You Buy Ravencoin?

The cryptocurrency universe was created to give everyone a chance to invest in digital currencies. This is why digital coins like Ravencoin are easily available. There are many places you can buy Ravencoin with either fiat currency or another digital currency like ETH or Tether (USDT).

Buying a cryptocurrency is never a problem for most people. However, there are benefits you can obtain when you buy from the right places. Generally, you can buy from a cryptocurrency exchange, a brokerage, or from an app or website that is not officially an exchange of brokerage.

It is safe to buy from most exchanges, but the problem is that many have been hacked in the past. The risk of losing your digital assets increases as you leave assets you've bought on exchanges. Buying a cryptocurrency from a brokerage is always a better option.

Buying a digital asset from regular cryptocurrency apps and websites is a lot riskier than buying from exchanges and brokerages. Some apps are run by con artists with malicious intentions. You should ascertain the safety of any website/platform before buying Ravencoin from it.

Best Platform to Buy Ravencoin

Obviously, you have several options when it comes to where you can buy Ravencoin. There are hundreds of exchanges and regular crypto apps out there, as well as a few stockbrokers that allow users to invest in digital coins.

As hinted earlier, it is safer to invest through a stockbroker. Again, there are just a few brokers that allow everyone from different parts of the world to invest in cryptos. eToro happens to be one of the best ones. We often recommend eToro to all our readers.

The most remarkable thing about eToro is that it is a trustworthy and reliable platform. It is highly secure too, many you will have peace of mind when you invest in Ravencoin through eToro. It is also a user-friendly platform with lots of benefits for users of all experience levels. Whether you are just starting out with cryptocurrencies or you have several years of experience, there are always benefits you can get by buying Ravencoin or another coin from eToro.

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

What Next After Buying Ravencoin

Knowing where to buy and sell Ravencoin or any coin is not enough if you want to trade for a profit with minimal risks. Depending on your strategy, you may have to keep your asset for days, weeks, months, and even years before selling. As you should know, already, you shouldn’t risk leaving your digital assets in a cryptocurrency exchange. It is best to store your assets in a digital wallet.

There are several factors you should consider when choosing a digital wallet for your crypto assets. Security is the most important factor. Make sure you choose a wallet with enough security features to protect your assets from hackers. This is another area where eToro trumps many cryptocurrency platforms. eToro has an easy-to-use, multi-crypto, secure digital wallet you can use throughout your cryptocurrency investment journey.

Key Points To Keep In Mind

We've discussed most of the important things you should know about Ravencoin in order to make an informed decision about investing in it. Clearly, there is a lot of information here, and you may find it hard to remember everything you've read. Here are some of the key points to keep in mind so that you can make the right decision about the coin:

  • Ravencoin is a hard-fork of Bitcoin and a relatively new cryptocurrency.
  • Ravencoin has a fully-developed and functional blockchain that is well secure.
  • Ravencoin is volatile but has performed relatively well in the past.
  • Ravencoin was launched by highly successful individuals with a great vision.
  • Ravencoin can be used to create and transfer different kinds of digital assets.
  • The price of Ravencoin is subject to speculations and volatility.
  • Many experts agree that Ravencoin can be really good for long-term investment.
  • Ravencoin is a new cryptocurrency that can be as risky as rewarding.
  • eToro is the best platform to buy Ravencoin and other digital assets.
  • eToro offers a secure, multi-token digital wallet you can use to store all your digital assets in one place.

Invest The Smart Way

Ravencoin can be a smart investment vehicle. It may not be the most popular digital coin, but it has performed well in just three years of existence. It can be a good long-term investment option for you, but you need to invest the smart way.

We’ve stated that eToro is one of the best platforms for buying and selling cryptocurrencies. It is a reliable full-service brokerage that is customer-centric. You can buy several cryptocurrencies, as well as other investment vehicles from eToro. The brokerage also offers a digital wallet that will make your investment journey easier and less risky.

It is also important that you take continuous learning seriously. Online trading/investing can be rewarding, yet risky. Learning the rudiments of trading and following developments on the market will help you minimize your risks and improve your chances of success. At Trading Education, we always have relevant articles that will help you make informed decisions about crypto investing. We also have several courses that will certainly help you improve all-round as an online trader/investor.

eToro – Best Exchange To Buy Cryptocurrencies

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.