Last updated on October 6, 2019
Are looking, how to buy Ravencoin with Bitcoin or fiat currency? then you are the right place. In this article, I will explain you secure and trust exchanges to buy Ravencoin with 3 simple steps.
There are so many exchanges have listed the Ravencoin, some of the exchanges do not provide enough volume and security, I recommend the Ravencoin with Bitcoin through the Binance and Coinex exchanges which are popular and trusted other than alternative Ravencoin listed exchanges.
Also, the end of the article I will explain everything you should know about the Ravencoin, wallets to store Ravencoin, and its investment important.
Let’s dive into the article,
How to buy Ravencoin with credit/debit card
Unfortunately, there are no ways to buy Ravencoin with credit/debit card directly.
First, you need to buy Bitcoin with credit/debit card, bank transfer or cash then you can buy Ravencoin with Bitcoin or USDT or BNB.
Binance supports fiat payment through the third party Simplex payment processor. You can buy Bitcoin, Ethereum, Litecoin, Binance coin with credit/debit card but fees are too much than the typical fees.
Coinex does not support the fiat payment for any cryptocurrency.
Where to buy Bitcoin with credit/debit card or bank transfer or cash
There are so many ways to buy Bitcoin with a credit/debit card but here are 7 best ways to buy Bitcoin with credit/debit card or methods you prefer.
Cex is UK registered, legally compliance Bitcoin broker and exchange which supports fiat payments through credit/debit cards, swift transfer, ACH transfer
If you want to know step by step, please refer “Beginners guide to buy Bitcoin with credit/debit card through Cex”.
Cex charges 2.99% fee of the total transaction amount.
02. Coinbase (USA, UK, Canada, Australia, and EU countries)
Coinbase is US based San-Francisco headquartered, regulated popular cryptocurrency broker and exchange which supports fiat payment through credit/debit card, bank account, bank transfer, etc.
Coinbase charges 3.99% fee of the total transaction amount.
Coimama is one of the oldest Bitcoin broker operating worldwide including 193 countries since 2013 which supports fiat payment through credit/debit card, bank transfers such as SWIFT and SEPA.
Coinmama charges a 5% fee of the total transaction.
04.Bitpanda (EU countries only)
Bitpanda is Austria based cryptocurrency exchange and Bitcoin broker operation since 2014 which supports fiat payment through credit/debit card, bank transfers, Skrill, Neteller.
Bitpanda charge 1.5% fee for card deposits and 1.49% for crypto purchases.
05.Bitit (USA, EU including 50 countries)
Bitit is a cryptocurrency broker and exchange which supports fiat payment through credit/debit card, SEPA transfer, and cash vouchers.
Bitit charges 3.9% fee of the total transaction amount
LocalBitcoin is peer to peer bitcoin exchange where people can buy and sell bitcoin for Paypal and various alternative methods such as Skrill, Payza, Wire transfers, Using Cash, etc.
Fees depend on the methods you are using.
07. Coinhouse (EU countries only)
Coinhouse is a cryptocurrency exchange and broker which supports quick Bitcoin investment through credit/debit cards and bank transfers.
Coinhouse fee structure not clear
How to buy Ravencoin with Bitcoin on Binance
I will show you, how to buy Ravencoin on Binance with 3 simple steps. Let’s get started,
01.Register on Binance exchange
Next step, go to the mailbox and click “Confirm Registration” button that is sent from the Binance then, you will see the account activation window and click “Log in” button.
Next screen, enter the email, and password which is used in the registration process then, click “Log in” button.
Next screen you need to skip or go through the security quiz process. I recommend you go through the security process. You will learn something cool security practices.
After the security quiz process, you will prompt to enable 2FA authentication. Select the methods you prefer and then activate the 2FA process. I recommend you enable 2FA with the Google Authenticator app.
After enabling the 2FA authentication, you are ready to deposit the Bitcoin into the Binance account. You don’t need to verify the ID for starting the trading.
02.Deposit Bitcoin on Binance exchange
In default, you are in the main dashboard, click the deposit button or in the main menu hover over the “wallet” and click “Exchange Wallet” and then click the deposit tab.
Next screen, you will see default Bitcoin is selected as well as there is Bitcoin deposit address.
You can use this address to send Bitcoin into the Binance account from your personal wallet or exchange which is having Bitcoin.
I will show you how to send Bitcoin from the Cex.io exchange to Binance exchange.
First, you need to login and directs into the “Finance” section in the main menu. Next, you will see the crypto balance under that find Bitcoin, then click “Withdraw” button then you will direct to the BTC withdrawal page.
Next copy the deposit address from the Binance exchange and paste it on “Enter the recipient’s address” in Cex.io then type the amount to send and agree to terms of service. Then click the “Withdraw” button.
You will receive the Bitcoin into your Binance account within few minutes and you can check the whole balance in the balance tab in the main wallet.
03. Buy Ravencoin in RVN/BTC market on Binance
Now, you are ready to buy Ravencoin with Bitcoin on Binance exchange. First click on “Market” on the main menu, then you will direct to the whole market page. You are now in default “BTC Markets” then type “RVN or Ravencoin” in the search box then you will see RVN/BTC pair and click on it. Next, you will direct to the RVN/BTC trading interface.
In the next screen, you will see Ravencoin order book, price chart and buy and sell option, and trade history.
Now head over to Buy RVN section. Binance provides four ways to buy or sell any cryptocurrency which is a limit, market, stop limit, and OCO. I recommend you to buy Ravencoin using a limit order.
Limit order – you can set price to trigger order when a specific price is reached. If you are buying, you can set a price little below the actual market price. If you are selling you can set price a little higher the actual market price.
Market order – you can buy or sell any coin in the actual market price.
The default you are in Limit order section, enter Ravencoin price, Amount and click “Buy RVN” coin. You should set Ravencoin price close to the actual market price for faster order execution.
Also, market orders will give best rate at the time of buying the Ravencoin, there is no need to set price.
After order being executed, you see the amount you bought RVN in “My 24h order history”.
How to Buy Ravencoin with Bitcoin on Coinex
Let’s go with Coinex exchange Ravencoin buying process.
01. Register on Coinex exchange
First, go to the Coinex exchange, click on the “Sign up” button the right side of the main menu.
In the registration form first, enter the email address then click “Get code” then go to the mailbox copy the verification code then enter that code in the relevant field.
Then fill rest of fields and agree to the terms of service then click “Sign Up”. Coinex exchange may not ask you to verify the identity if you are a normal trader.
Then you should enable the 2FA authentication with phone OTP methods or Google authenticator app.
Now you are ready to deposit the Bitcoin into the Coinex exchange.
02. Deposit Bitcoin on Coinex exchange
Now you are in the dashboard section of the exchange, hover over the “Assets” and click on assets in the drop-down menu.
Next screen, you will see Bitcoin under the coins section then click “Deposit” button relevant to Bitcoin. Then you will direct to Bitcoin deposit page and copy the that Bitcoin address to send Bitcoin into the Coinex account from somewhere else.
You can follow a similar procedure explained above Binance Bitcoin deposit.
After the depositing the Bitcoin, you are ready to buy Ravencoin with Bitcoin on Coinex.
03. Buy Ravencoin on RVN/BTC market in Coinex
Next, click on “Exchange” button on the main menu and you will direct to exchange interface of the Coinex exchange. The default you are in USDT market switch to BTC market. Then type “RVN” on search box then you will see RVN/BTC market and click on that.
Now you are in RVN/BTC market pair, you can see order book, price chart, and option to buy and sell RVN.
There are three ways to order RVN which are a limit, market, and stop order.
Let’s select the limit order then set the RVN price, RVN amount and then hit the “Buy RVN” button.
After order being executed, you see RVN under the assets section.
That is it.
Best Ravencoin wallets
There are a lot of wallets to store, receive, and send Ravencoin and creation of the custom assets. I will show you the best Ravencoin wallets currently available.
Ravencoin has developed iOS, Android, Windows, Linux, and macOS users. You can download these wallets from the official Ravencoin website.
If you want to create the custom asset tokens, transferring the asset tokens etc, you should use the official Ravencoin wallet otherwise you can use the third-party wallets listed below.
Also, I recommend you to store your RVN in official Ravencoin wallets but if you have multiple coins you can choose RVN coin supported third party wallet.
Best third party Ravencoin wallets
Here are the 5 best and trusted third party wallets which support the RVN coin.
Trezor is a hardware wallet which owns two models such as Trezor One and Trezor Model T both supports the Ravencoin. I recommend buying Trezor wallet if you can afford the price. Still, Ledger wallet does not support the Ravencoin. If you would like to learn more about the Trezor, refer Trezor Model T review
Exodus is leading cryptocurrency wallet available both desktop and mobile. Exodus consists of many features such as wallets backup and recovery, built-in exchange, multicurrency support, an intuitive user interface.
Atomic is universal, anonymous, decentralized and secure wallet which supports Ravencoin, Bitcoin, Ethereum, ERC 20, BEP 2 tokens. Atomic is a multiplatform wallet available for Windows, Ubuntu, macOS, Debian, Fedora, Android, and iOS.
Trustwallet is mobile wallet available both Android and iOS which is the Binance’s official wallet. Which supports many cryptocurrencies such as Ravencoin, Bitcoin, Ethereum, ERC 20 tokens, and BEP2 tokens.
Zelcore is a multiplatform supported cryptocurrency wallet which supports Ravencoin as well as Ravencoin assets.
What is Ravencoin – Beginner’s guide
Ravencoin is peer to peer cryptocurrency built for the creation and transferring of any kind of digital assets which also, can be used to instant global payments. Ravencoin was forked from the Bitcoin, and it helps to bring the Bitcoin blockchain like security.
Ravencoin is no founders and a specified team which means anyone can contribute the Ravencoin code and Ravencoin consists of no pre-mine, no ICO, and no coins held for developer or founder’s rewards.
Currently, there are so many cryptocurrency projects can be used to the creation and transferring assets such as Ethereum ERC 20 protocol, Bitcoin Omni layer. Those cryptocurrency platforms do not specifically build for creation and transferring assets where these are design various functions such as smart contracts, dapps, etc.
In this case, Ravencoin protocol primarily develops for creation, and transferring assets one party to another with Bitcoin blockchain like security.
There are 8 development phases in road map currently, it is completed phase 1 (Basic Ravencoin development), phase 2(Assets), and phase 4( unique assets). Still, the rest of the phase have come including rewards, messaging, voting, compatibility mode, and mobile wallet compatible with a mnemonic phrase.
Key differences between Ravencoin and Bitcoin
Both Bitcoin and Ravencoin consist of proof of work mining but major key difference is the hashing algorithm. Bitcoin uses SHA 256 hashing algorithm which is not ASIC resistant, probably it has a great opportunity to go mining centralization.
Ravencoin uses the x16R hashing algorithm which is ASIC resistant and its ensure the centralized mining. If the ever produced the ASIC miner for Ravencoin will change the hashing algorithm.
Bitcoin first block reward was 50 Bitcoin and Ravenoin first block reward was 5200RVN coins and also, Ravencoin block time is 1 minute far lower than the Bitcoin block time which about 10 average minutes.
Bitcoin supply is 21 million and Ravencoin supply is 21 billion ever created.
Ravencoin issuer’s token name is guaranteed unique and owner of the token project will be the first creator of the particular token project. A token issuer should spend the RVN in order to create the new token project where these spend RVN will be burned.
These tokens can be created in GUI wallet which provides intuitive token management such as issuing, checking current balance, and transferring the tokens to the other parties.
Rewards enable payment via RVN coin who is holding the share of any new token project. This helps to send dividends, dividend payments, etc.
As an example, X company issues X token for the shareholders. When a company is get profited, X token holders will receive the dividend of profit payments via the RVN coin.
Ravencoin allows creating any kind of assets such as project share, virtual goods, physical and digital assets, credits.
Is it worth to invest in Ravencoin – 5 simple tips
- An active open-source community which consists of over 500 contributors and 16,000 Git commits
- No pre-mine, no ICO or and no coins held for developer or founder’s rewards
- Majority of road map phases have completed
- Unique decentralized, censorship-resistant tokenized assets platform
- Top investors involve including the Overstock and Medici Ventures
Conclusion – How to buy Ravencoin
Last part of the article consists of the beginner’s guide to Ravencoin project and some of the worth to invest factors.