The cryptocurrency market experienced a considerable Defi-fuelled bull run in September 2020. REN is one of the many digital tokens that benefited from this positive price action. Launched as far back as 2017, REN is a Defi protocol, allowing trades to execute without an intermediary.
If you want to know how to buy REN and carefully understand its market, this guide is for you.
Not only will you understand the ins and outs of how to invest in REN, but we also discuss the best broker to trade with. Additionally, we provide you with answers to relevant questions you may have relating to REN tokens, ridding you of any uncertainty.
The first thing to consider when you’re learning how to buy REN is to only trade with a brokerage that offers comprehensive and secure access. This would mean a platform that provides trading guides, market news, prices, and powerful charts.
With Capital.com, you are offered a one-click trading experience with over 3,000 world-owned markets and fast order execution. The 0% commission platform allows you to trade REN as a CFD instrument, eliminating the worries about storing the coin.
Follow this quick process to buy REN CFDs within 10 minutes through any of the numerous payment methods available.
After confirming your order to buy REN, it will remain open until you decide to close it. Closing your REN order implies that you want to cash out.
So, once you’re ready to lock in your gains, all you have to do is place an order to sell and the funds generated will go into your Capital.com account.
Your capital is at risk – 76.25% of retail investor accounts lose money when trading CFDs with this provider.
Following the guide above, we might have assumed that you have prior knowledge and a basic level of expertise with cryptocurrency. With the quick guide above, some procedures may have been skipped.
We understand that the process can be a little confusing and challenging for a first-timer. Hence, if you need a more detailed step-by-step approach, follow the process below.
Before you can buy or sell REN, you will need to open a trading account with a reputable brokerage site. Arguably, Capital.com is your best bet because you are provided with trading essentials and you do not pay any amount in commission to buy from the site.
But beyond that, the platform stands out because it is highly regulated, which ensures the security of your funds. To kick start, go to the Capital.com website and click on the “Trade Now” icon. Following that, you will be directed to enter your personal details and contact information.
As opposed to many other crypto trading platforms, Capital.com is highly regulated. The platform has a regulatory license from CySEC and the FCA. This way, it offers adequate security of investors’ interests and funds.
You will be required to part with some of your personal details — so that the broker complies with anti-money laundering laws.
As such, to get verified, you’ll be asked to verify your email address, and upload a government-issued ID like your driver’s license or passport. This is to verify your identity and also grant you full access to the financial markets.
Funding your account is essential to starting your trading journey. It is until you credit your account that you’ll be able to buy REN and enter your position.
Capital.com supports numerous options to get your account funded. They include:
More interestingly, when you trade with Capital.com, you will not have to incur any transactional fees during withdrawals and deposits. This is in stark contrast to the likes of Coinbase and Binance – which charge 3.99% and up to 4% on debit card deposits – respectively.
After making a deposit into your trading account, you are now permitted to buy REN CFDs. The next thing to do is to click on the search icon and enter “REN” Click on the result that pops up and you’ll be directed to a new page to make your purchase.
Following that procedure, you will need to place an order to buy your REN CFD. Buying REN CFDs means you are purchasing against a potential price increase. This means that you buy first, and sell later after the price has surpassed your initial entry point.
To buy, all you simply need to do is indicate the amount you want and place an order. Once you do that, Capital.com takes it up from there and executes your order at the relevant market price.
Noteworthy, the platform also has a feature that allows you to set a price limit at which you intend to enter the REN purchase. This is useful if you have an eye for an entry point you’re trying not to miss. For example, while REN might be priced at $0.36 now, you might not want to invest until it hits $0.40.
Capital.com makes selling REN as easy as buying. Asides from getting trading tips and a breakdown of the selling procedure, you also do not have to worry about storing your REN tokens. This is because you have bought REN through a CFD instrument.
CFDs simply monitor the underlying asset value, hence, the tokens are not really in existence on the platform itself. Essentially, you do not have to own or store REN to trade it.
Another impressive thing about trading REN CFDs is that Capital.com offers you leverage and short-selling options. This gives you the ability to maximize your position based on your choice of leverage limit.
When you do so, Capital.com closes the trade and credits your account with the funds.
Several questions regarding where to buy REN online surface every day. This is a result of the numerous brokerage platforms online, making it difficult to which platform can be trusted. Despite having plenty of options, not all of them can satisfy your financial goals.
Here are things to consider before choosing where to buy REN:
The crypto exchange industry is littered with many cases of theft, hack, and malpractice. So, to ensure adequate protection of your funds, look towards a place like Capital.com with heavy regulation.
Capital.com offers you access to unmatched security in the crypto trading space. In addition, the platform supports more than 3,000+ financial markets – which is inclusive of 138 digital currency pairs. Its security promises are tied to the platform’s strong backing from major financial regulatory bodies.
The Financial Conduct Authority (FCA), located in the UK, and CySEC, located in Cyprus, are two highly reputable financial authorities. Their presence behind Capital.com places on the platform a duty to maintain practical industry standards. At the forefront of this is the safety of investor funds.
More importantly, the CFD approach to trading is something that distinguishes Capital.com from others. As mentioned earlier, buying REN on Capital.com doesn’t follow the conventional purchase and wallet approach. Instead, you get to speculate on the asset’s underlying value as opposed to owning the REN tokens themselves.
This way, you’re saved from the stress of getting a wallet and protecting your private keys. Best of all, Capital.com allows you to buy REN without paying a single dime in commission. Plus, spreads are super-competitive. After making your purchase, you can sell your REN position at any given time – also on a 0% commission basis.
Likewise, you won’t be charged when you make a deposit or withdrawal. The platform supports many payment options, including the likes of Visa, MasterCard, bank transfers, and several e-wallets. open an account with Capital.com and subsequently buy REN tokens in the form of CFDs in less than 10 minutes.
Your capital is at risk - 67.7% of retail investor accounts lose money when trading CFDs with this provider.
Curiosity about Defi projects like REN is very quickly becoming mainstream. However, there’s a need to exercise caution when purchasing a speculative asset like REN.
This is why the most important thing is to do your own research. This allows you to have more useful knowledge before making your investment decision.
Yet, we understand the importance of satisfying your curiosity. So, below are a few things you should consider when looking at how to buy REN online.
Recently, the REN protocol launched its polygon bridge which resulted in a sudden and huge rise in its native token. With that said, REN as a cryptocurrency has experienced significant growth since it was first launched in 2018.
For example, you would have paid just $0.08 per REN token back then. Fast forward to February 2021 and the digital currency breached a price of $1.67. This means that in just over three years of trading, REN increased by almost 2,000%.
At the time of writing in July 2021, REN is trading at $0.34 per token. This means the coin is still in its infancy in terms of price. Buying the coin now should be driven by personal research of its price trajectory and community.
Regardless, being as cheap as it is and yet attracting attention, REN could be worth looking at. In other words, you have the chance to add a sizable number of tokens to your portfolio without needing to outlay a large amount of capital.
An impressive thing to consider about REN is its community. The Defi project allows users to play a part in making some of its key decisions. This makes the community an important part of the coin that continues to strengthen its value in the marketplace.
So, if you’re considering how to buy REN, you’ll want to understand how the project regards the community and how users, in turn, support it.
At the end of 2021, some commentators believe the price of REN will reach $1.08. However, always take REN price predictions with a pinch of salt. Instead, only invest based on your own research.
Currently, cryptocurrencies are in the midst of a slightly bearish market. As history often repeats itself, once the bear cycle is over, the bullish season evolves at a much faster pace. In simple terms, this means that at current prices, you can buy REN at a huge discount.
If you’re looking to buy REN from a crypto exchange platform, you will have to obtain a suitable wallet. While there are many REN wallets in the market, you need to find the best ones that can serve your needs.
We examined the market and found that the following providers offer the best REN wallets in 2021.
Ledger is an encrypted hardware wallet for REN. It is one of the best in the market owing to its high regard for safety.
The wallet uses extremely high-end encryption techniques to ensure the safety of your funds and keep them from sophisticated network attacks or even simple phishing scams.
Users are also allowed to recover funds through a mnemonic seed phrase in case the wallet gets stolen, damaged, or compromised.
Trust Wallet is officially supported by Binance and is also a great place to store REN. As a beginner just getting started with Defi coins, Trust Wallet is a mobile wallet that is suitable for newbies. This is owing to its great regard for convenience and user-friendliness.
With this wallet, you can have an easy experience navigating through the many features on offer without fear of compromising your REN.
Atomic Wallet is a digital wallet compatible with Android, iOS, and several desktop versions. It supports over 300+ cryptocurrencies, including REN.
Atomic Wallet also offers Atomic Swaps and a built-in exchange which you can utilize to swap back and forth between all of its assets supported. The versatility of this wallet makes it an ideal place to store your REN.
Pro Tip: As earlier stated, if you want to buy REN through a CFD platform like Capital.com, you do not need to own or use a wallet. You can push aside these steps by placing a buy or sell order on the platform at 0% commission. This means that you can speculate on the future value of REN without needing to own the respective tokens.
If you want to buy REN, there are various options available to you. You may either choose to buy from a standard crypto exchange or from a regulated CFD brokerage. The challenge with buying from an unlicensed exchange is that it comes with increased risk. You also have to worry about making use of a crypto wallet, protecting private keys, and other processes.
So, it is best to use a trusted CFD brokerage platform when buying REN. Here, Capital.com stands out here, not least because the broker is regulated by the FCA and CySEC. Furthermore, Capital.com lets you buy REN CFDs with a debit/credit card or e-wallet at 0% commission.
It is known that with any digital asset, prices will always go up or down. As of early July 2021, REN is trading at $0.34 per token.
Deciding whether or not to buy REN should be strictly based on your discretion and research. This will ensure you make a well-informed decision based on your tolerance for risk.
Since REN is a digital asset with millions of tokens in circulation, you can buy as much as you want or as low as you can afford. When using Capital.com, you only need to meet a minimum deposit of $20.
REN hit an all-time high of $1.67 in early 2021.
If you want to buy REN with a debit card - you can complete the process with regulated CFD broker Capital.com. The platform also supports credit cards, e-wallets, and bank transfers.
REN has a maximum supply cap of 1 billion tokens and a circulating supply of just over 997 million.
Forex Signals Daily