The Ren protocol seeks to achieve a decentralized representation of Bitcoin within the Ethereum blockchain. As such, the technology provides a means for Bitcoin owners to also participate in the Ethereum DeFi ecosystem with ease.
Ren has its cryptocurrency token known as RenBTC, which is an ERC-20 token. The project has garnered impressive traction in the market. In this guide, we will show you all you need to know on how to buy RenBTC.
By the time you’re done reading, you will be able to purchase this popular Defi coin with ease.
Contents
- 1 How to Buy RenBTC – Quickfire Walkthrough In Less Than 10 Minutes
- 2 How to Buy RenBTC – Full Step-By-By Step Walkthrough
- 3 Where to Buy RenBTC Online
- 4 Ways to Buy RenBTC Tokens
- 5 Should I Buy RenBTC?
- 6 Risks Of Buying RenBTC
- 7 Best RenBTC Wallets
- 8 How to Buy RenBTC - Bottom Line
- 9 Buy RenBTC Now via Pancakeswap
- 10 FAQs
- 11 How much is RenBTC?
- 12 Is RenBTC a good buy?
- 13 What is the minimum RenBTC tokens you can buy?
- 14 What is the RenBTC all-time high?
- 15 How do you buy RenBTC using a debit card?
- 16 How many RenBTC tokens are there?
How to Buy RenBTC – Quickfire Walkthrough In Less Than 10 Minutes
RenBTC is an established project with a market capitalization of $413 million as of mid-2021. Owing to the project’s growth over the years, it has become a coin of interest in the marketplace. If you plan to purchase some tokens, Pancakeswap is the best way to go about it.
The exchange is a decentralized application that is perfectly compatible with a DeFi coin like RenBTC.
The guide below will walk you through how to buy RenBTC tokens in ten minutes and from the comfort of your home.
- Step 1: Download Trust Wallet: Pancakeswap, the most suitable ‘DApp,’ works best with Trust Wallet. You can download the wallet on your Android or iOS device.
- Step 2: Search For RenBTC: After setting up your account, you can now search for RenBTC in the top right corner of your Trust Wallet.
- Step 3: Fund Your Trust Wallet: You will have to make a deposit in your Trust Wallet if you don’t already have cryptocurrency assets there. You may choose to transfer some from an external source or buy with your credit/debit card directly from Trust Wallet.
- Step 4: Connect To Pancakeswap: Trust Wallet makes provisions for you to connect it to Pancakeswap easily. Locate ‘DApps’ at the lower part of your screen, choose Pancakeswap, and hit connect.
- Step 5: Buy RenBTC: Next, select the ‘Exchange’ icon, which will show you the ‘From’ tab, where you’ll choose the coin you want to use for the swap. Locate the ‘To’ icon on the other side, and select RenBTC from the drop-down box. You can now choose the number of coins you want and confirm the transaction by clicking ‘Swap.’
Within seconds, all the RenBTC tokens your base cryptocurrency purchased will reflect in your Trust Wallet. This wallet also allows you to sell your coins through Pancakeswap.
Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile.
How to Buy RenBTC – Full Step-By-By Step Walkthrough
The quickfire guide above may provide sufficient information on how to buy RenBTC if you are an experienced cryptocurrency trader. However, if you are new to it, then a comprehensive guide is needed to beef up your understanding of how to buy RenBTC.
The guide below simplifies how to buy RenBTC conveniently.
Step 1: Download Trust Wallet
Pancakeswap is a decentralized application or ‘DApp’ that eliminates the need for third parties when buying or selling DeFi coin. It is user-friendly and accessible, and you can find the DApp within your Trust Wallet. Additionally, Trust Wallet is the best option for buying a DeFi coin like RenBTC.
Trust Wallet is secure, convenient, user-friendly, and has the backing of Binance. You can download it on your iOS or Android device. Set it up and ensure you choose an impenetrable passcode.
Trust Wallet also gives you a 12-word passphrase that provides access to your wallet if you misplace your phone or forget your login details. Ensure you write this down and keep it somewhere safe.
Step 2: Fund Your Trust Wallet
Before you can carry out any transactions, you need to fund your Trust Wallet. Now, you may opt for one of the methods below.
Transfer Cryptocurrency Assets From an External Source
Sending cryptocurrency tokens from an external wallet is the easiest way to finance your Trust Wallet. However, you have to own some tokens in that external wallet. If you already do, then here’s how to transfer the tokens to your Trust Wallet.
- Search for ‘Receive’ in your Trust Wallet and choose the cryptocurrency you want to send from the external source.
- An exclusive wallet address will appear on your screen. We advise copying it directly to avoid dire mistakes.
- Paste the address in the ‘Send’ bar in your external wallet and choose your desired number of tokens.
- Then, complete the transaction and await the tokens in your Trust Wallet.
Within moments, the tokens will appear in your Trust Wallet.
Buy Cryptocurrency Assets Directly From Trust Wallet With Your Credit/Debit Card
You may choose to buy cryptocurrency with your credit/debit card if you do not own any elsewhere. It’s a straightforward process, but you will have to complete a Know Your Customer (KYC) process first. Here, you will have to provide a government-issued identity card.
For example, it could be your passport or driver’s license. After verifying your identity, you may follow these steps to buy cryptocurrency directly with your credit/debit card.
- Locate the ‘Buy’ bar at the top part of your Trust Wallet.
- Trust Wallet will present the range of tokens available.
- You can now choose the coins you want. There are many; however, you may want to go for an established coin like BNB or Bitcoin.
- Input your card details and the number of cryptocurrency tokens you want, and complete the transaction.
You will receive your cryptocurrency coins within seconds.
Step 3: How to Buy RenBTC Through Pancakeswap
Now that you have some cryptocurrency in your Trust Wallet, you can now carry out transactions via Pancakeswap. First, you have to connect your Trust Wallet to Pancakeswap if you haven’t already. Next, you can buy RenBTC by exchanging it with the base cryptocurrency you funded your Trust Wallet with in the previous step.
Here’s how to buy RenBTC through Pancakeswap.
- Locate ‘Dex’ on the Pancakeswap homepage and click the ‘Swap’ icon.
- A ‘You Pay’ tab will appear, and you may choose the cryptocurrency and quantity you need for the swap. Of course, it has to be a cryptocurrency asset that is in your Trust Wallet.
- Locate the ‘You Get’ tab and choose RenBTC from the drop-down box.
- Trust Wallet will show you how many RenBTC tokens are equivalent to your base cryptocurrency.
- You may now select ‘Swap’ and complete the transaction.
Your RenBTC tokens will appear in your Trust Wallet within seconds.
Step 4: How to Sell RenBTC
It is equally vital that just as you know how to buy RenBTC coins, you also know the way to sell them. You can sell your RenBTC by choosing either of the following methods.
- Sell with Pancakeswap: Pancakeswap makes it easy to buy and sell your RenBTC. You can exchange your tokens by swapping them for another cryptocurrency. Simply follow our guide on how to buy RenBTC, but apply the steps in reverse.
- Third-Party Exchange: You can sell your RenBTC coins using a third-party exchange platform. Here, you will be selling your RenBTC tokens for fiat currency.
One of the perks of using Trust Wallet is that you can easily access Binance and sell the RenBTC tokens for fiat money. However, for this category, you will have to complete a KYC process if you haven’t already done so.
Where to Buy RenBTC Online
RenBTC was founded in December 2017 and has grown sizably since its launch. As of the time of writing in late July 2021, there are just over 12,000 tokens in supply – which is minute. However, RenBTC is also one of the most expensive digital currencies – which is why the supply is so low.
- Nevertheless, although the coin is popular, getting the right place to buy it can be challenging.
- Fortunately, Pancakeswap makes it relatively easy for you to buy all the RenBTC tokens you need, which is one reason it is the most suitable DApp for DeFi transactions.
There are numerous reasons why you can rely on Pancakeswap, and some of them include the following.
Pancakeswap – Buy RenBTC Using a Decentralized Exchange
Pancakeswap is the perfect decentralized exchange or DEX because it eliminates the need for a third party in cryptocurrency transactions. Additionally, the exchange boasts of a simple user interface that makes it suitable for both cryptocurrency experts and beginners.
The combination of these features makes the exchange a seamless way to buy RenBTC. With Pancakeswap, you never have to worry about high transaction charges. Unlike other DEX’s – where high traffic may result in increased transaction charges and slow delivery time, Pancakeswap maintains its fast execution speed around the clock. In addition, the exchange has impressive security controls, making your tokens safe while on it.
You can also make some extra money from your idle coins, as those tokens contribute to the platform’s liquidity pool. Additionally, Pancakeswap allows you to get rewards from staking your RenBTC tokens. Other options such as leveraged yield farming also provide you with a source of income. Yet, you don’t have to pay a subscription fee to use Pancakeswap.
Pancakeswap also stands out because of the range of tokens it offers. You get to choose from diverse cryptocurrencies available, and that way, mitigate potential losses. Finally, Pancakeswap is very user-friendly. You don’t have to be a cryptocurrency veteran before you can carry out essential transactions. Get started by connecting to the app from within your Trust Wallet.
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 crypto funds
- 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 RenBTC Tokens
There are different ways to buy RenBTC. You can choose any of the methods below depending on which meets your needs.
Buy RenBTC Using a Credit/Debit Card
Trust Wallet allows you to buy cryptocurrency directly with your credit/debit card. However, you will have to get verified first by completing a KYC process.
Next, you can buy any of the cryptocurrency tokens available on Trust Wallet with your Visa or MasterCard. You may now proceed to Pancakeswap to exchange the cryptocurrency for RenBTC tokens.
Buy RenBTC Using Cryptocurrency
The easiest way to buy RenBTC from Pancakeswap is to use the cryptocurrency assets you already own. You can transfer the tokens from an external source and use Pancakeswap to exchange them for RenBTC. Please note that you must connect your Trust Wallet to Pancakeswap before you can carry out any exchange.
Should I Buy RenBTC?
When you want to make a financial decision like buying RenBTC tokens, you’re required to tread carefully. Ensure you carry out enough research so that you can hedge your risks and mitigate them as much as possible.
We understand how challenging this might be, so here are some things you may look out for when considering whether or not to buy RenBTC.
Growth Trajectory
RenBTC is Ren's adopted version of Bitcoin, and as such, the two digital tokens have just about the same value. The coin experienced its all-time low of $9,011 on July 22, 2020. It has since then grown to as high as $64,000, which is the all-time high. As of late July 2021, RenBTC is trading at about $32,000.
If you had bought the coin when it was at its all-time low, you would have made a huge return on your investment at about 255%. Thus, this impressive growth trajectory indicates that RenBTC may be a good buy, but you will have to research extensively before purchasing.
If you’re looking for a high-end project, RenBTC may be suitable for your portfolio. This is because of the high value and price. Making the most of the project might require you to buy a substantial amount. So, although you can buy a fraction of RenBTC, this project is the kind that’s most likely attractive for high investment budgets.
Multi-Collateral Lending
This means that you can use your non-custodial smart contracts as collateral for some cross-chain assets. RenBTC allows you to use your tokens as collateral on multiple blockchains.
Additionally, RenBTC is proof that DeFi coin can function on blockchains aside from the one they are built on. Furthermore, RenBTC allows Bitcoin holders to participate in the numerous benefits of being in the Ethereum ecosystem.
Exchange of Value Between Blockchains
Ren as a protocol seeks to increase the liquidity of the Ethereum ecosystem by adding more assets to it. This ensures that the foreign assets in question retain their original value, making it possible for adoption without subsequent loss.
A wider Ethereum ecosystem means a greater potential for a successful DeFi framework. This brings increased traction to the coin, making it become more attractive in the wider cryptocurrency market.
RenBTC Price Prediction
RenBTC and other cryptocurrencies are susceptible to price fluctuations because of their volatility. This makes it almost impossible to predict the price. Avoid letting online RenBTC price predictions determine your buying and selling decisions. Carrying out your own in-depth research is the primary way you can mitigate risks.
Risks Of Buying RenBTC
Cryptocurrency tokens are volatile. The slightest factors can affect their increase or decrease. As such, when you want to buy RenBTC tokens, you have to tread with caution.
There are risks involved in buying this digital asset. However, you may follow these steps to reduce any potential losses.
- Read Well and Wide: Adequate and in-depth research is a way to mitigate potential losses because you are buying RenBTC tokens with sufficient information. Your research should cover the market cap, tokens in circulation, use-cases, and past and subsequent developments of RenBTC.
- Diversify: Diversifying your RenBTC investment reduces your risks of running at a loss. This way, you do not depend solely on a particular coin, and this has proven to be a great risk mitigation strategy.
- Invest Periodically: When you buy RenBTC tokens at intervals, you lessen your risk of losses because this strategy means that you get to buy at various cost prices.
Best RenBTC Wallets
Storage is another factor you have to consider when you own RenBTC tokens. You have to consider security, user-friendliness, and ease of access when choosing a wallet for your tokens.
Here are some of the best RenBTC wallets.
Trust Wallet - Overall Best Wallet for RenBTC
Trust Wallet is the most compatible wallet for storing your RenBTC tokens because it is secure, convenient, and easy to navigate. The wallet is also backed by Binance, one of the largest and safest trading platforms in the cryptocurrency world.
Additionally, Trust Wallet issues a 12-word passphrase which is a sound backup mechanism. It allows you to retrieve your wallet if you misplace your mobile phone or forget your password. To top this, Trust Wallet connects to Pancakeswap easily.
Ledger Nano X - Best RenBTC Wallet For Convenience
Ledger Nano X is a portable hardware wallet - hence its convenience for your RenBTC storage. In addition, it is a very secure storage device that protects your cryptocurrency keys and makes remote breaches difficult.
The hardware wallet is suitable for both Android and iOS devices. You can also connect it to your desktop system. However, it is a small device, so ensure that you keep it in a safe place always.
Trezor T - Best RenBTC Wallet For Security
The Trezor T is a hardware wallet that prioritizes security. It was built mainly to ensure the safety of cryptocurrency tokens. It has features such as a touchscreen, PIN protection, and Lockout. The Trezor T also requires a double verification process before you can carry out transactions.
How to Buy RenBTC - Bottom Line
RenBTC is a DeFi coin with an impressive growth trajectory. This impacts the coin’s potential as well. The project serves numerous purposes, and as such, it makes sense that many investors want to understand how to buy RenBTC.
We have simplified the process of how to buy RenBTC tokens with ease and from the comfort of your home. Essentially, download your Trust Wallet, connect it to Pancakeswap and buy all the RenBTC tokens you want.
Buy RenBTC Now via Pancakeswap
Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile.
FAQs
The concept of volatility is responsible for RenBTC fluctuations, which means it never has a fixed price. However, as of late July, one RenBTC token is worth over $32,000.
RenBTC has an impressive growth trajectory which could make it a good buy. However, ensure you tread with caution before buying any cryptocurrency. You can do this by researching adequately.
You can buy RenBTC in fractions, just like every other cryptocurrency. This means that you can buy as little as half of one token, or even less.
RenBTC hit its all-time high of over $64,000 on April 14, 2021.
Download Trust Wallet from the Apple Store or Google Playstore and set it up. First, you have to verify your identity through a KYC process. Then connect your Trust Wallet to Pancakeswap. You may then input your card details and follow our guide on how to buy RenBTC tokens.
As of the time of writing, there are just over 12 000 RenBTC tokens in circulation. The coin also has a market cap of over $420 million as of July 2021. How much is RenBTC?
Is RenBTC a good buy?
What is the minimum RenBTC tokens you can buy?
What is the RenBTC all-time high?
How do you buy RenBTC using a debit card?
How many RenBTC tokens are there?
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