Ravencoin is a fork (copy) of Bitcoin that is faster than its predecessor and delivers greater rewards to its miners.
Launched in 2018, Ravencoin is an open-source platform where users can create their own assets for a small amount of Ravencoin, which is then taken out of circulation – ‘burned’.
Today, Ravencoin has a dedicated community creating new assets and use cases on the Ravencoin blockchain. Read more to find out how you can store and buy Ravencoin, along with what makes Ravencoin unique.
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3 steps to buy Ravencoin (RVN)
Step 1: Sign up to a broker or exchange
Choose the cryptocurrency exchange or broker that’s right for you. This can be the one with the most attractive fees or one that provides a good user experience–preferably both. Below are some good examples of crypto exchanges that we think offer a user-friendly experience with low fees.
After deciding on which platform you will use, create an account and add some funds. The simplest way is with a credit or debit card, though be aware of any fees you might incur.
Step 3: Buy Ravencoin
After making your deposit from your bank account, use your fiat currency—GBP, USD, EUR, or any other accepted denomination—to buy a cryptocurrency with which to purchase your Ravencoin. You can use your fiat currency to buy RVN directly with some brokers. With others, you’ll need to purchase cryptocurrencies that can then be converted into Ravencoin.
One of the easiest ways is to buy a stablecoin–a coin that is ‘stable’ because it is pegged to the US dollar–and use that to buy your RVN. The most widely used stablecoins are Tether (USDT) and Circle (USDC). You can also get Bitcoin (BTC) and buy your Ravencoin with that.
Where to buy RVN
Ravencoin has a native token called RVN. This is used to transact on the network and can be found on various platforms. Below are some of our recommended crypto exchanges and brokerages where you can find and buy Ravencoin to add to your trading portfolio.
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Why buy Ravencoin?
Ravencoin has critical advantages over its predecessor, mainly the ability to build decentralised applications (DApps) on its platform. This added utility differentiates it from Bitcoin, making it more than just a store of value.
Ravencoin can also be used to generate representative tokens for real-world assets such as stocks, shares and gold, which can be distributed within communities.
Users can also generate creative assets such as music, art and video as non-fungible tokens (NFTs) on the platform using Mango Farm Assets, Ravencoin’s Web Wallet for digital asset creation.
Where to store your Ravencoin
The safest way to store your cryptocurrency is in a hardware wallet. Crypto exchanges and brokerages have their own wallets, but these are custodial, which means they hold your private keys and can limit what you do with your coins.
If you’d like more control over your portfolio, you can download a non-custodial wallet, such as Metamask and send your coins there.
Ravencoin recommends users download its official wallet, which can be found on its website. However, there is little doubt that using a hardware wallet is the safest way to secure your funds. Below are some popular crypto wallets for storing cryptocurrencies.
You can buy NFTs on the Ravencoin network from RVNFT, a platform for tokenised Ravencoin assets. On RVNFT, you can also find music NFTs, video games and 3D art, which can be purchased with RVN.
To become an RVN miner, simply download the Ravencoin official wallet from the Ravencoin website and follow the instructions. Once your wallet is set up, you can start mining RVN using your home computer.
The Ravencoin Discord and Telegram groups are good places to start. You can join them by visiting the Ravencoin website and clicking the appropriate icons. There are also links to BitcoinTalk and Reddit communities. To keep up with its latest developments and news, it’s also worth following Ravencoin on Twitter.
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