Reserve Rights Token (RSR) is one of many alternative coins operating on the Ethereum platform. The token is a part of the Reserve protocol, created to combat the devaluation of currencies by governments.
The Reserve protocol aims to provide a stable digital payment system backed by crypto-assets, especially for places with weak banking infrastructures. This protocol has three tokens: the Reserve Token (RSV), the Reserve Rights Token (RSR), and the Collateral Token.
These three tokens are made to provide a buffer against devaluation by stabilizing one another. The goal is to create a stablecoin that will be independent of the rise and fall of the dollar. The focus of this page is on how to buy Reserve Rights Token (RSR), and we will take you through all the details you need to know step-by-step.
Contents
- 1 How to Buy Reserve Rights Token: Quickfire Walkthrough to Buy Reserve Rights Token in Less Than 10 minutes
- 2 How to Buy Reserve Rights Token – Full Step-by-Step Walkthrough
- 3 Where Can You Buy Reserve Rights Token Online?
- 4 Ways to Buy Reserve Rights Token
- 5 Should I Buy Reserve Rights Token?
- 6 Risk of Buying Reserve Rights Token
- 7 Best Reserve Rights Token Wallet
- 8 How to Buy Reserve Rights Token – Bottom Line
- 9 Buy Reserve Rights Token Now via Pancakeswap
- 10 FAQs
- 11 How much is Reserve Rights Token?
- 12 Is Reserve Rights Token a good buy?
- 13 What is the minimum Reserve Rights Token you can buy?
- 14 What is the Reserve Rights Token all-time high?
- 15 How do you buy Reserve Rights Token using a debit card?
- 16 How many Reserve Rights Tokens are there?
How to Buy Reserve Rights Token: Quickfire Walkthrough to Buy Reserve Rights Token in Less Than 10 minutes
Knowing how to buy Reserve Rights Token is quite easy, even for a newbie. With the increasing popularity of decentralized exchanges such as Pancakeswap, all you need to do is follow the provided instructions.
Following these steps does not require help from any third party, and you can go from start to finish in 10 minutes.
- Step 1: Download Trust Wallet: For most of the activities you will be doing in the cryptocurrency market, you will need a wallet. As the name implies, a cryptocurrency wallet is where you can store your cryptocurrency assets. For buying Reserve Rights Token, Trust Wallet is the best option for you. Start by going to Google Playstore or AppStore and download the wallet.
- Step 2: Search for Reserve Rights Token: After downloading and installing Trust Wallet on your device, look for the search button on the top right corner and type Reserve Rights Token. You will see the coin listed among various other options.
- Step 3: Add Crypto Asset to your Wallet: To buy Reserve Rights Token, you must own an established coin such as ETH or BTC. This is required because you can only buy Reserve Rights Token by swapping one of those major coins for it. If you do not have any of these coins, you can get started by buying through your debit/credit card. If you do, you can make a transfer from an external wallet. Once you do this, you now have the cryptocurrency to buy Reserve Rights Token.
- Step 4: Connect to Pancakeswap: As stated earlier, you cannot buy Reserve Rights Token directly with fiat money. Thus, you have to use an exchange app such as Pancakeswap to make your purchase. To do this, click on the ‘DApps’ feature on your Trust Wallet and pick Pancakeswap from the options listed. Then, click on the ‘Connect’ button, and you are one step closer to owning Reserve Rights Token.
- Step 5: Buy Reserve Rights Token: Finally, you can buy Reserve Rights Token. Having connected your Pancakeswap to Trust Wallet, buy RSR by clicking on the ‘Exchange’ icon. After clicking on the button, tap on the ‘From’ tab and choose the major coin you are exchanging for Reserve Rights Token among the choice of coins listed in the drop-down box.
Once you do this, you can move on to the ‘To’ tab and choose Reserve Rights Token from the list. Next, enter the amount of Reserve Rights Token you want to buy and click on ‘Swap.’ This step completes the process, and the Reserve Rights Tokens you have purchased will reflect in your wallet.
Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile.
How to Buy Reserve Rights Token – Full Step-by-Step Walkthrough
After going through the quickfire guide explained in the section above, you may have started to gain some insight into how to buy Reserve Rights Token. However, if this is your first time buying cryptocurrency, the quickfire guide may not be enough.
Therefore, to help you fully understand how to buy Reserve Rights Token, we have prepared a more detailed guide. This comprehensive guide will answer most of the questions you may have on how to buy Reserve Rights Token, and there will also be a Frequently Asked Questions (FAQs) section at the end of the page.
Here’s what you need to do.
Step 1: Download Trust Wallet
As we have stated in the quickfire guide, you need a wallet to trade in cryptocurrencies. For Reserve Rights Token, Trust Wallet is the best available. The wallet supports several DEX’s such as Pancakeswap and is compatible with many coins.
This characteristic will prove advantageous along the way, especially if you decide to diversify into other coins and tokens.
The first step is to download the Trust Wallet app on Google Playstore or any other place compatible with your device. Then, open the app and set up your wallet with your details. Next, secure your wallet with a strong PIN that is unique and known to only you. Trust Wallet will give you a 12-word passphrase during the setup.
The passphrase is a random string of words that will help you gain access to your wallet if you forget your PIN or lose your device. Write it down and keep it somewhere safe before moving on to the next step.
Step 2: Add Crypto Asset to Your Trust Wallet
Your wallet is empty until you fund it. You can do this by adding assets to it through either of the two main ways available. This can either be by transferring cryptocurrency assets to your wallet from an external source, or buying directly using your debit/credit card.
Here is how to go about each:
Send Crypto from an External Wallet
If you have another wallet that already has cryptocurrencies in it, you can transfer some of the coins over from that source. The other wallet does not have to be Trust Wallet for you to initiate the transfer. It is only until you send cryptocurrency assets into your Trust Wallet that you can buy Reserve Rights Token.
So, here is how to go about it:
- Open your Trust Wallet and click on ‘Receive.’
- Click on the cryptocurrency you want to transfer into your Trust Wallet. You will be given a unique wallet address to receive the cryptocurrency.
- Copy the address and open the other wallet you wish to transfer from.
- Paste the address and input the number of tokens you want to transfer.
- Confirm the trade and wait while your cryptocurrency is transferred to your Trust Wallet.
This whole process usually takes minutes.
Buy Cryptocurrencies Using Debit/Credit Card
The second way to fund your wallet is to buy cryptocurrency directly on Trust Wallet using your debit/credit card. This option is the best if you do not have cryptocurrency assets in any other wallet, especially if this is your first time buying digital tokens.
Follow the steps explained below carefully, and it becomes as easy as if you have been doing this for a long time.
- Open your Trust Wallet and click on the ‘Buy’ icon. You will see a list of different tokens available.
- Click on the coin you want to buy. Since you intend to swap the coin for Reserve Rights Token afterward- go for an established token such as BNB or BTC.
- You will be required to go through a Know Your Customer (KYC) process. This process allows platforms to verify the identity of their customers, and for this, you will need to upload a copy of a government-issued ID, such as your passport or driving license.
- By completing the KYC process, you can now input the amount of cryptocurrency you want to buy and confirm the transaction.
Your purchase will reflect in your wallet within a few seconds.
Step 3: How to Buy Reserve Rights Token Through Pancakeswap
Now that you have the established coin in your Trust Wallet, you can buy Reserve Rights Token by swapping the asset for RSR on Pancakeswap.
The process is as simple as stated in the quickfire guide we gave earlier, but here is an in-depth explanation nonetheless.
- Start by going to your Trust Wallet and click the ‘DEX’ button.
- Click on ‘Swap.’
- You will see the ‘You Pay’ button where you can click to choose the token you want to exchange with. This choice should be the crypto you have bought and stored in your Trust Wallet.
- Now, go to the ‘You Get’ tab and choose RSR from the options listed. You will see the swapping rates of your cryptocurrency against RSR.
- Enter the amount of RSR you want to buy.
- Finalize the process by clicking on ‘Swap’ and confirm your transaction.
Your Reserve Rights Token will be deposited safely into your Trust Wallet within a few minutes.
Step 4: How to Sell Reserve Rights Token
After learning how to buy Reserve Rights Token, the next step is to know how to sell your coins when the time comes. If you are looking to sell your Reserve Rights Token right now, there are two major ways to go about it.
Swap for Another Cryptocurrency Asset
The first way to sell your Reserve Rights Token is to exchange it for another cryptocurrency. You can do this on Pancakeswap. All you have to do is follow the processes you took to buy it, but this time, in reverse. First, choose Reserve Rights Token in the ‘You Pay’ section and the coin you wish to change for next to ‘You Get’. Then, confirm the swap.
Sell for Fiat Money
If you want to get fiat money for your Reserve Rights Token, you will have to break the chain of decentralized trading. In other words, you will need to use a centralized platform. By using a secure and reliable exchange such as Binance, you can get your RSR changed for fiat money seamlessly.
To do this, you have to send your RSR to your Binance account and sell the tokens for fiat money. You can then withdraw the funds from your bank. Know that you have to go through a KYC process to withdraw on Binance, but you’re already familiar with that procedure.
Where Can You Buy Reserve Rights Token Online?
Reserve Rights Token has continued to rise in popularity, and due to this reason, you can get the digital asset from almost any platform where cryptocurrencies are sold. However, while these platforms exist in abundance, it’s safe to buy from a reputable DEX offering satisfactory services.
For ease of use, you should go for Pancakeswap, as it is a leading exchange in the cryptocurrency market. If you are new to Pancakeswap, you can get to know more about it below.
Pancakeswap – Buy Reserve Rights Token Through a Decentralized Exchange
As more decentralized exchange platforms penetrate the cryptocurrency market, Pancakeswap has become one of the top options for investors. Even though it was launched in 2020, it has become favorable to traders due to the number of benefits it offers. One of these is the immense liquidity pool which allows you to trade more profitably.
Pancakeswap is also an exciting choice for many traders because of the lottery and prediction features. These two features allow you to play for a chance to win big apart. But beyond secondary features, it is the primary advantages, such as the simple user interface, that drives interest in the platform.
One of the features that make Pancakeswap enticing is that it is an Automated Market Maker (AMM). This means that investors don’t have to be matched against one another. Instead, they put their assets in a general liquidity pool with other investors’ funds and trade objectively. Investors will get Liquidity Provider (LP) tokens for claiming their shares.
The essence of Pancakeswap as a DEX is that it allows for investors to transact anonymously. The platform does not require an identity verification process. It is also cheap to use as transaction fees usually range between $0.04 and $0.20. Pancakeswap also allows for the exchange of several coins, making it easy for you to diversify.
Pros:
- Exchange digital currencies in a decentralized manner
- No requirement to use a third party when buying and selling cryptocurrency
- Supports a sizable number of digital tokens
- Allows you to earn interest on your idle digital assets
- Sufficient levels of liquidity – even on smaller tokens
- Prediction and lottery games
Cons:
- Might appear daunting at first glance for newbies
- Does not support fiat payments directly
Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile.
Ways to Buy Reserve Rights Token
This question is one of the most asked about Reserve Rights Token. If you do not know how to buy Reserve Rights Token, you can get started by doing a bit of research. You will get to know that there are two ways in which you can buy RSR - which we discuss below.
Buy Reserve Rights Token Using your Debit/Credit Card
To buy Reserve Rights Token using your card, you have to buy an established coin through your Trust Wallet. Then, connect your Trust Wallet to your Pancakeswap and exchange the established coin for Reserve Rights Token. This process will require you to verify your identity through a KYC process.
Buy Reserve Rights Token Using Cryptocurrency
If you already have cryptocurrency in another wallet, you can transfer the coins from that source to your Trust. Then, connect to Pancakeswap and exchange the cryptocurrency for RSR.
Should I Buy Reserve Rights Token?
Every investor asks this question before putting their money into an asset. However, there is no correct answer as the crypto market is a volatile one.
For example, an investment today can yield a 100% profit in a year while another may decline by 80%. Therefore, you are encouraged to do your research and buy Reserve Rights Token only if it fits into your investment plan.
If you don’t know what to look for while researching, we have highlighted some of the factors to consider before taking the leap.
Established Cryptocurrency Project
The project that established RSR has a blueprint that makes it easy to invest in the asset. RSR is part of the Reserve Protocol, a project created to combat the unsanctioned devaluation of currencies by governments. The project launched three tokens, the Reserve Token (RSV), the Reserve Rights Token (RSR), and the Collateral Token.
The first is a stablecoin which is aimed to be spent like every other currency such as USD and euros. Reserve Rights Token exists to stabilize RSV, while the collateral coin stabilizes RSR. Through this chain, the project aims to provide a currency that can remain stable against all odds.
Unrestricted Access
Apart from combating corrupt economic practices by governments, the Reserve protocol was founded to increase access to financial services, especially in regions with poor banking infrastructures. The protocol aims to cater to these places.
An early investment in it may be a great addition to your portfolio as the protocol continues to break into uncharted territories. However, any such investment decision should be based on personal research. This will ensure you have adequate knowledge of the project.
Solid Financial and Technical Backing
RSR has significant backing both financially and technically. The cryptocurrency is supported by financial giants such as Arrington Capital, BlockTower Capital, Coinbase Ventures, Rocketfuel, Digital Currency Group, Fenbushi Capital, and more.
On the technical side, the Reserve protocol team boasts of 18 professional members who have accrued experience from working in top tech firms such as IBM, Tesla, Alphabet, and OpenAI. These strengths make the future look promising for RSR. Regardless, as is the case with any other cryptocurrency, no one can say for certain what’s to happen.
Price Prediction
You may come across online predictions concerning Reserve Rights Token. You have to take any of such speculations with a pinch of salt, as they do not have tangible data to support their positions. The best thing to do before investing is to research. This is why it’s advisable to look at the long-term prospects of a project, as opposed to immediate returns.
Risk of Buying Reserve Rights Token
The financial market is volatile, and every asset comes with its risks. Reserve Rights Token has had its fair share of price fluctuation, and you should be wary when investing. While experts make predictions on the price of assets, the truth is that no one can predict volatility.
Therefore, you should be prepared to take some risks before investing in RSR. If you have decided to invest in this token, then take safety measures such as buying in small portions, diversifying your portfolio, and staying abreast of news in the market.
Best Reserve Rights Token Wallet
While learning how to buy Reserve Rights Token, you also need to know about the best wallets to use. You have learned that you need a wallet to buy your Reserve Rights Token, but that is not all the function that this serves.
You also need the wallet to store your tokens and do other transactions with it. If you are looking for the best wallets for RSR, here are some to look out for.
Trust Wallet: Overall Best Reserve Rights Token Wallet
Whether you are a beginner or an expert investor, Trust Wallet is one of the best storage options available in the market for Reserve Rights Token. This wallet takes our top spot because of its convenience and versatility.
You can buy cryptocurrencies directly using your debit/credit card and trade those coins for other assets without breaking a sweat. Overall, it is suitable for everyone.
Ledger Nano S: Best Reserve Rights Token Wallet in Security
If you want to store your RSR in a hardware wallet, this is your best bet. The wallet was created by Ledger, a company known for its top-notch security when producing cryptocurrency wallets.
The wallet is designed to keep your RSR safe offline, and you can even recover your funds if your wallet is damaged. All you need to do is use the mnemonic seed phrase given to you, and you can pick up where you left.
MyEtherWallet: Best Reserve Rights Wallet in Convenience
This wallet is one of the best choices to trade RSR simply because of its convenience. MyEtherWallet supports all Ethereum-based assets, including Reserve Rights Token. This wallet's ease of use also stems from being web-based, thereby allowing investors to transact freely from any suitable device available to them.
Of course, the repercussion here is that the security of your wallet may be compromised. However, you can add an extra layer of protection by using hardware wallets such as Ledger Nano S, in addition to your MyEtherWallet.
How to Buy Reserve Rights Token – Bottom Line
In summary, you should now understand how to buy Reserve Rights Token, where to purchase the coin, the risks involved, and the best wallet to store the asset. You have also learned the factors to consider before purchasing the token. Therefore, you should consider all variables before putting your funds into it.
Buy Reserve Rights Token Now via Pancakeswap
Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile.
FAQs
As at the time of writing in late-July 2021, Reserve Rights Token hovers above the $0.02 mark and occasionally hits $0.03.
Reserve Rights Token is one of the rising Defi coin in the market today, and its steady rise over the year has been noteworthy. However, it still possesses the risk of other cryptocurrencies and is subject to market speculations. If you have a good risk appetite and it fits into your investment plans, you could consider putting some funds into the token.
There is no limit on the amount of RSR you can buy. This freedom is because the coin is still relatively new and enjoys a large market supply, allowing investors to buy as much or as little as they desire.
Precisely on 16 April 2021, RSR reached an all-time high of $0.11.
You can buy RSR using a debit card by firstly purchasing an established coin through your Trust Wallet. Then you can exchange the coin for RSR by linking your Trust Wallet to Pancakeswap.
RSR has a total supply of $100 billion tokens, of whichever 13 billion is in circulation. The market cap is over $375 million, as at the time of writing in late-July 2021. How much is Reserve Rights Token?
Is Reserve Rights Token a good buy?
What is the minimum Reserve Rights Token you can buy?
What is the Reserve Rights Token all-time high?
How do you buy Reserve Rights Token using a debit card?
How many Reserve Rights Tokens are there?
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