Note: This is not financial advice. This is for educational purposes only. Please note that cryptocurrency is a highly volatile asset class; only invest what you can afford to lose.
"How to buy Revain" is the one question on crypto investors' minds as it surged by 243% in one day. On May 10, it was trading at around $0.013. On May 11, it skyrocketed to a whopping $0.045. Naturally, altcoin aficionados want to hop on the Revain (REV) bandwagon.
Revain can be purchased on platforms such as Kucoin, BitMart, Bilaxy and BHEX, but Kucoin is the most popular exchange for Revain investors. In order to purchase Kucoin, you'll need to purchase Bitcoin before swapping it for REV.
What is Revain?
Revain, launched in 2018, is more established than SafeMoon, Shiba, Dogecoin and other cryptocurrencies that have gained popularity this year. Revain arguably also has more utility than the aforementioned altcoins.
Revain is a reviews platform, à la Yelp, Angie's List and Trustpilot, that incentivizes independent authors to write vaulable reviews. Revain also attaches ratings to each post. Revain, built on Ethereum and Tron, seeks to solve the many issues that plague online-reviews systems, including fake accounts, spam, paid reviews and more. This is why Revain's slogan is "reinventing reviews."
According to CryptoNews, Revain uses an AI screening process to identify fake and malicious reviews, and blocks them from getting published. On top of that, Rev relies on Ethereum's blockchain to record snapshots of original reviews. As a result, they can't be doctored or altered.
Revain rewards authors of well-written reviews with REV tokens, which can be traded on several cryptocurrency exchanges.
How to buy Revain
In order to buy Revain, you'll need to head to Kucoin's official website and sign up for an account. Kucoin's interface can be intimidating to beginner investors who are accustomed to simplistic apps such as Coinbase, but the REV buying process is relatively easy.
Speaking of Coinbase, you'll need to deposit some Bitcoin into your Kucoin account to purchase Revain. You can do this by clicking on "Assets" followed by "Main Account (Deposit and Withdraw)." You can also purchase Bitcoin directly from Kucoin via the "Buy Crypto" tab. Once you've deposited Bitcoin into your Kucoin account, here are the steps to buying Revain.
1. Click on "Markets" on the top-left corner.
2. Type in "REV" into the search bar. You should find a pairing that says "REV/BTC." Click on it.
3. Navigate to the bottom right quadrant of the page where it says "Limit, Market, Stop Limit."
4. You'll need to set up a trading password; click on "Please set trading password." This will prompt you to set up six-digit code for trades.
5. Hit the back button and you'll be back to REV trading page. For the sake of simplicity and brevity, click on "Market." (This will purchase REV tokens at the current market rate).
6. Click on "100%" to trade all of your Bitcoin for REV, and click "Buy Rev."
7. Voila, you now have Rev tokens.
Revain's sudden rally shocked long-time crypto investors because REV's all-time high of nearly $4 was in 2018. For three years, REV's price plateaued and it suddenly surged in price. This is evidence of how volatile the cryptocurrency market can be.
As usual, take precaution with buying virtual currencies; only invest when you can afford.
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Kimberly Gedeon, holding a Master's degree in International Journalism, launched her career as a journalist for MadameNoire's business beat in 2013. She loved translating stuffy stories about the economy, personal finance and investing into digestible, easy-to-understand, entertaining stories for young women of color. During her time on the business beat, she discovered her passion for tech as she dove into articles about tech entrepreneurship, the Consumer Electronics Show (CES) and the latest tablets. After eight years of freelancing, dabbling in a myriad of beats, she's finally found a home at Laptop Mag that accepts her as the crypto-addicted, virtual reality-loving, investing-focused, tech-fascinated nerd she is. Woot!