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Where to Buy Ren (REN) Coin

The Ren protocol (previously known as the Republic Protocol) encourages interoperability by allowing users to send cryptocurrency across multiple blockchains. The average price of REN could reach $1.35 by 2025, and a break of this average price could spark a further rise to $1.55 in 2025.
Buy Ren Crypto
Buy Ren Crypto

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

The Ren protocol (formerly the Republic Protocol) promotes interoperability by allowing users to send cryptocurrency across several blockchains. It will enable users to lock cryptocurrencies like Bitcoin (BTC), Bitcoin Cash (BCH), and Zcash (ZEC) inside the Ren program and mint ERC-20 equivalent tokens like RenBTC, RenBCH, and RenZEC on Ethereum in a 1:1 ratio. Trading, portfolio management, borrowing, and lending are possible with the new ERC-20 tokens, which may now be used in DeFi products.

The Ren protocol is supported by the Ren Virtual Machine (RenVM), operated by a decentralized network of machines known as “Darknodes.” They give the virtual machine their computing power and storage space for fees. This lets cryptocurrency move across different blockchains. RenVM acts as a trustless custodian for your cryptocurrency, as each RenBTC token you create is backed by a BTC token held in the RenVM.

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    How to Buy Ren (REN)

    1. Choose an exchange that offers Ren. We recommend eToro as it’s FCA, ASIC, and CySEC regulated.
    2. Create and verify your trading account with eToro.
    3. Fund your account via bank transfer, credit card, PayPal, or other payment options.
    4. Search “Ren” in the drop-down menu to see the chart and open trades.
    5. Click “Trade” and select the amount of REN to buy.

    Best Exchange to Buy Ren in July 2024

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    with $1000 you receive
    8397.7863 BTC
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    with $1000 you receive
    8397.7863 BTC

    Don’t invest in crypto assets unless you’re prepared to lose all the money you invest.

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    How to Sign Up at eToro

    Opening a free eToro account is simple, as the platform is extremely user-friendly, especially for beginners.

    Step 1: Open an Account

    Please follow the steps outlined below to open a new trading account.

    1. On the eToro website, click the “Join Now” or “Trade Now” button.
    2. It has a form on this page where you can put in all of the personal information you need to open a new trading account.
    3. Please complete this form thoroughly.
    4. You can log in with either Facebook or Gmail.
    5. Before submitting your information for consideration, please review eToro’s terms and conditions and privacy statement.
    6. Please check the box to see if you agree with all the terms after reading them.
    7. Submit your information by clicking the “sign-up” button.

    eToro create account

    eToro website homepage

    If you want to use the mobile app for iOS and Android, check out the guide to the eToro app. It has screenshots of how the app looks and works.

    Visit eToro

    Your capital is at risk.

    Step 2: Upload ID

    To ensure compliance with regulatory standards, eToro will need you to submit a copy of your driver’s license or passport and your submitted identity. A copy of the most recent utility bill or bank statement will be required to verify the address. The verification process will commence immediately after the papers have been uploaded.

    Step 3: Make a Deposit

    When ready, enter the ‘Deposit Funds’ section and input the desired amount. To open an account with eToro, the minimum deposit is $50, which can be made in various ways. Examples include debit cards, credit cards, bank transfers, Skrill, PayPal, and Neteller.
    There are no deposit fees at eToro. To finish the transaction, click the “Deposit” button once you’ve opted for a payment option.

    eToro fund account

    Deposit methods on eToro

    On January 24, 2022, eToro listed the Ren coin. Since 2013, eToro has provided retail clients access to the cryptocurrency markets. Using fiat currency, eToro users can easily buy, hold, and sell real underlying assets such as Bitcoin (BTC), Ren (REN), and several altcoins on its investment platform.

    Ren (REN) is a cryptocurrency that connects traders and decentralized applications across blockchains. REN transactions are done privately between exchanges on a network of dark nodes to limit the impact of traders’ front-running markets. REN tokens are required to run a dark node and are used to power the network.

    Step 4: Buy Ren (REN)

    The final step is to purchase a REN coin, which takes only about 15 seconds. The simplest method is to type REN into the search field and then select “Trade” from the first result that appears.

    Searching REN on eToro

    Searching REN on eToro

    Step 5: Review REN Price

    This step will take you to an order page where you may input the quantity of REN cryptocurrency you want to buy. Then, to add the REN to your portfolio, click “Open Trade.” We endorse using a third-party wallet to separate your digital assets from the trading platform.

    One option is the eToro Crypto Wallet, which can store more than 120 digital assets, including REN.

    Searching REN on eToro

    REN Price Chart on eToro

    The good thing is there’s no maker/taker fee on eToro as they solely charge for the buy/sell spread.

    Step 6: Buy REN

    When you’re ready to purchase, click “trade.” Enter the amount of money you want to put into ZRX. Then you’ll have a choice between two options.

    Pending Order: It will place a buying limit to execute an order when the price of ZRX reaches a certain level.

     

    Buy REN on eToro

    Buy REN on eToro

    Instant Buy:  This option is for those who want to buy ZRX at the current prevailing price quickly. To close the trade, a trader can choose any time he wishes to.

    Read more about how to buy cryptocurrency in 2024 here.

    Open eToro Account

    Your capital is at risk.

    Where to Buy REN – Best Platforms

    We’ve narrowed down the best platforms for purchasing REN after extensive research. Our list of sites to buy REN in 2024 includes their features, fees, and the reasons for their exclusivity. eToro has established itself as the leading platform for purchasing REN cryptocurrency. The platform is safe, reasonably priced, and simple to use.

    Best Brokers to Buy Ren (REN)

    eToro exchangeeToro rose to prominence due to its groundbreaking social investing platform, which allows users to mimic the transactions of other investors.

    Founded in 2007, eToro now has over 20 million members from 140 countries, including the United States. Customers in the United States can only trade cryptocurrencies on eToro, which also operates multi-asset brokerages (stock, commodity, and currency trading) in other countries. The company intends to expand its offerings in the United States.

    eToro’s cryptocurrency services are only available in 44 states and Washington, D.C. While all citizens of the United States are welcome to sign up for a free eToro account for virtual trading, residents of the following states are currently barred from participating: Delaware, Hawaii, Minnesota, Nevada, New York, and Tennessee.

    Additionally, it now enables you to stake prizes for purchasing Ethereum and storing it in your wallet and Cardano and Tron.

    Read more about how to stake crypto.

    Trading and transaction fees – eToro prices for cryptocurrencies are equal to those on other platforms, such as 0.75 percent for buying or selling bitcoin. Converting from one cryptocurrency to another on eToro costs only 0.1 percent more than the current spreads. 

    As a result, by 2022, eToro will have established itself as a top crypto trading broker with a strong preference for crypto-assets and CFDs.

    Options for customer service – Customer service at eToro is limited, with only email and a support request option. “Club Members” can access customer service via live chat for a charge.

    Regulation – eToro is governed by some of the best regulatory organizations globally, including the Financial Conduct Authority of the United Kingdom (FCA). The Australian Securities and Investment Commission, the Cyprus Securities and Exchange Commission, and the Financial Industry Regulatory Authority (FINRA) are also in charge (FINRA). According to CySEC guidelines, user funds are kept separate from the platform’s operating capital for all CySEC-registered brokers. This is how the platform operates.

    Deposit Fee – Users of eToro can take advantage of a reasonable pricing structure. There are no deposit fees at eToro. Deposits can be made using various methods, including bank wire transfer, credit or debit card, PayPal, Skrill, Sofort, Netteller, and others.

    Depending on the user’s region, the minimum deposit varies. For those in the United Kingdom and most of Europe, a minimum deposit of $200 is required before trading can commence. A $10 deposit is required for users in the United States.

    eToro offers Bitcoin, the most prominent cryptocurrency, and famous altcoins like Ethereum, Aave, XRP, and Graph.

    eToro Deposit

    eToro Minimum Deposit 

    On eToro, you can buy and sell online and use their mobile app on your smartphone or tablet. The registration process for an eToro account is simple and takes only a few minutes.

    Pros & Cons of the eToro platform:

    • Copy-trading – Ability to copy the trade of successful traders.
    • Regulated by ASIC, FCA, and CySEC
    • User-friendly interface
    • Trusted by 20 million registered users
    • Most payment methods supported
    • Staking of ETH, ADA, or TRX
    • Less technical analysis (TA) tools and indicators than Binance
    • Service is only available in 44 US states.
    • Buy/sell spread large on altcoins

    Visit eToro

    Your capital is at risk.

    2 – Huobi

    Huobi is one of the world’s largest cryptocurrency exchanges, ranking among the top three regarding trading volume. Leon Li founded it in 2013, making it one of the oldest online exchanges. It began in China, but after the Chinese government banned cryptocurrencies, the platform relocated to the Seychelles and Singapore.

    It allows you to trade in over 380 cryptocurrencies. It offers ICO tokens in addition to cryptocurrencies, which has helped it become one of the largest and most prominent crypto exchange platforms. It has over 3 million registered accounts and has expanded its infrastructure to the United States, South Korea, and Japan; its token is called the Huobi Token (HT), first issued in January 2018.
    The Republic of Seychelles governs the platform. Furthermore, it is governed by the FCA in the United Kingdom. It also complies with the KYC policies. Huobi also provides 5X leveraged margin trading for BTC, LTC, and ETH. Regarding security, the exchange provides the most recent technological advancements, such as 2-factor authentication. It also keeps 98 percent of its client’s assets in cold storage to prevent hacks.

    Deposit – Huobi accepts over 90 deposit and withdrawal methods, including Faster Payments, US ABA transfer, SWIFT International Transfer, Visa/Mastercard, USD Balance, SEN, etc. Instead of cash, the platform accepts cryptocurrency deposits such as XRP, BTC, LTC, and their token, HT.

    Fee – The initial deposit is $100. On international wire transfers, the withdrawal fee is 1%. It is 0.0001BTC and 0.001 LTC for cryptocurrency withdrawals. The trading fee is flat and charged at 0.2 percent, which can be reduced to 0.1 percent for customers who trade in higher volumes. Typically, the maker fee is 0.02 percent, and the taker fee is 0.04 percent.

    Customers can contact Huobi Global via email, phone, online chat, ticket system, and social media. Huobi Wallet, Huobi Mall, Huobi Prime, Huobi, Eco Chain, and Mobile App are some of the platform’s other distinguishing features. Users can also earn points for completing tasks and inviting friends.

    Huobi listed REN on September 16, 2020.

    Pros & Cons of the Huobi platform:

    • Impressive trading platform
    • More than 350 cryptocurrencies
    • High-level cyber security
    • Strong customer support
    • Low trading fees
    • Professional trading tools
    • Mobile app
    • 24/7 customer support
    • No fiat deposits or withdrawals
    • Not available in the US.
    • The complex account registration process

    Visit Huobi

    3 – Crypto.com

    Crypto.com, a cryptocurrency exchange, was founded in 2016. It distinguishes itself as a one-stop shop for all of your cryptocurrencyCrypto.com logo transactions, making it a good fit for investors of all levels of experience. However, this exchange’s trading interface may be too complicated for newcomers. This cryptocurrency exchange offers Cronos, its native cryptocurrency (CRO).

    Other cards, such as Midnight Blue, can offer up to 1% cashback, Ruby Steel Card with up to 2% cashback, Royal Indigo or Jade Green offers 3% cashback, and Ice White/Frosted Rose Gold offers 5% cashback.

    Crypto.com also provides interest-bearing earnings by lending your cryptocurrency to others. The Earn Program allows you to earn up to 14.5 percent on your deposits. It is one of the highest interest rate percentages offered by cryptocurrency exchanges.

    Fee – Crypto.com’s fee structure is somewhat complicated. On this platform, the minimum account balance is set at $1. The maker/taker fee is calculated based on the 30-day trading volume. The maker fee ranges from 0.036 to 0.40 percent, while the taker fee ranges from 0.090 to 0.40 percent. Furthermore, there is no fee for transferring funds from a bank account.

    Payment Methods –Credit/debit cards, which charge only 3%, are accepted as payment methods. In addition to an ACH transfer and a wire transfer, PayPal is a payment option. It is also used as a form of promotion, with a $10 sign-up bonus and a referral bonus of up to $2000.

    Deposit – On this platform, the minimum account balance is set at $1. Maker/Taker fees range from 0.04 to 0.40 percent. During the first 30 days after opening an account, credit/debit card purchases are charged at 0% or no fee. Users can also earn up to $2000 for each friend they refer.

    Security – To keep customer accounts safe, Crypto.com employs security measures such as multi-factor authentication and whitelisting. Furthermore, the platform stores customer deposits offline in cold storage to prevent hacks. In addition, the exchange provides $250,000 in FDIC insurance on dollar balances.

    Customer support at Crypto.com can be reached through email, live chat, and a help page. Cryptot.com listed REN on 12 August 2020.

    Pros & Cons of the Crypto.com platform:

    • 250+ cryptocurrencies
    • Separate NFT platform
    • No fees to send crypto to others via the mobile app
    • Upto 8% cash back via its own Visa card
    • Price alerts
    • Upto 14.5% p.a. interest earnings
    • Competitive fee
    • Tax support available
    • Pay more for lower balances
    • Not available for New York residents
    • Limited services for the US platform
    • No customer service via phone
    • No crypto-to-crypto trading

    Visit Crypto.com

    4 – Bybit

    Bybit is a peer-to-peer (P2P) cryptocurrency derivatives exchange that aims to break into the rapidly growing cryptocurrency margin and leverage the trading market. When Bybit went public in March this year, it quickly became a major player in the cryptocurrency trading industry and began accepting customers.

    Only a few types of cryptocurrencies can be traded on the exchange, but they can be leveraged up to 100 times. This means that people from all over the world can trade these goods in exchange.

    Bybit, based in Singapore, is a crypto-to-crypto exchange that does not require customers to go through onerous KYC verification and presently generates up to $1 billion in daily trading.

    Founders: The company was started in March 2018 by Ben Zhou. Before becoming the exchange’s CEO, he was the general manager of a forex brokerage firm, XM.

    Leveraged trading: Bybit Exchange specializes in perpetual futures with 100:1 leverage. This indicates that they seek to compete with existing exchanges such as Binance and Phemex, which provide non-expiry futures contracts.

    Key Features

    Other essential features include:

    • 1 Click Coin Swaps – Within their accounts, users can quickly switch between supported coins.
    • 100,000 TPS per contract – 10 times the industry average, resulting in no overloads.
    • Leverage up to 100x – Bybit’s generous leverage system allows for increased profit potential.
    • Cold Wallet Storage/Manual Withdrawals – Bybit uses cold storage and three daily manual withdrawals to improve security.
    • Unlimited Withdrawals – Platform users can make virtually unlimited trades and withdrawals.
    • There is no KYC– Accounts can be created and managed using only an email address and a username.

    Fee – Market takers pay 0.075 percent, while market makers pay -0.025 percent. Thus, when a market maker opens a trade, they will be compensated. This low fee encourages market makers to be active and fill the order book.

    Pros & Cons of the Bybit platform:

    • Up to 100x leverage on crypto
    • Advanced tools supported by great technology
    • Risk-free test environment to learn and experiment
    • Educational resources
    • Not available in the US
    • Not suited to spot trading

    Visit Bybit

    5 – Binance

    BinanceBinance is one of the most popular cryptocurrency exchanges in daily transaction volume, with over $20 billion in daily transactions. It provides access to hundreds of assets and a user-friendly trading environment that simplifies making money.

    Low costs, numerous charting options, and hundreds of cryptocurrencies are among Binance’s most significant characteristics. Unlike eToro, Binance is a cryptocurrency-only exchange with no copy trading, FX, commodities, or other services.

    Binance uses two-factor authentication (2FA) verification and FDIC-insured deposits in US currency (USD). Binance also uses device management, address whitelisting, and cold storage in the United States to keep its customers safe from scams and fraud.

    Fees: 0.015 percent to 0.10 percent for purchase and trading fees, 3.5 percent or $10, whichever is greater, for debit card purchases, or $15 per US wire transfer.

    Binance listed the REN token on December 06, 2018, and it offers to trade on REN (REN). Moreover, Binance has opened trading for REN/BTC, REN/BNB, and REN/BUSD trading pairs.

    Pros & Cons of the Binance platform:

    • Approximately 500 cryptocurrencies can be traded.
    • A broader selection of altcoins
    • Additional staking options—Binance Earn feature
    • Professional traders have access to all of the chart indicators they require.
    • Trading leveraged margins-long or short
    • Numerous transaction types are available.
    • US customers can’t use the Binance platform, and the Binance.US exchange is very limited
    • High fees for credit card deposits
    • No copy trading

    Visit Binance

    6 – Coinbase 

    Coinbase

    Coinbase is a cryptocurrency trading platform launched in San Francisco and is one of the most popular in terms of user counts. Coinbase was the first major cryptocurrency exchange to go public in the United States. It debuted on the Nasdaq in April at $381 per share, valuing the company at $99.6 billion when all of its shares were sold.

    Coinbase is a platform that allows you to purchase and trade cryptocurrencies such as BitcoinEthereumLitecoin, and over 50 others. It can also transmit and receive cryptocurrency and convert one cryptocurrency to another. Coinbase, like stock trading apps, shows current cryptocurrency prices and trends and a snapshot of your portfolio and industry news. Use the Coinbase Pro exchange for trading; it’s cheaper than the regular Coinbase site, which functions more like a broker.

    On the Coinbase Pro exchange, you can create your limits or market orders for REN. The maker/taker cost is 0.5 percent until you trade $10,000 in volume in 30 days, after which it is 0.35 percent. You can trade for free in crypto if your 30-day trading volume exceeds $300 million. Maker costs for limited orders aren’t charged.

    Ren (REN) has been available on Coinbase.com and in the Coinbase Android and iOS apps since October 2020. Customers of Coinbase can now trade, send, receive, or store REN in most Coinbase-supported regions.

    Pros & Cons of the Coinbase platform:

    • Trade against the US Dollar, GBP, or EUR rather than USDT
    • Well-known and trusted by US regulators
    • Instant deposits and withdrawals to/from the bank account
    • Remember to use Coinbase Pro for lower fees
    • Higher maker/taker fee than Binance unless your trading volume is very high
    • The Coinbase Pro website is slow and lacks chart indicators
    • Less customer support

    Visit Coinbase

    7 – KuCoin

    KuCoin

    KuCoin, a global cryptocurrency exchange founded in 2017, provides its eight million customers with a wide range of trading options. Examples include staking, lending, spot, futures, margin, and peer-to-peer (P2P) trading.

    The cryptocurrency platform KuCoin claims to offer the highest level of security and a cryptocurrency selection of almost 400. It is a user-friendly exchange with a simple layout despite its extensive features. KuCoin has some of the lowest fees in the cryptocurrency industry.

    Co-Founder & Chief Executive Officer

    Johnny Lyu is the Co-Founder and CEO of KuCoin, one of the world’s most well-known cryptocurrency exchanges. KuCoin has become one of the most popular cryptocurrency exchanges, with over 8 million registered users from 207 countries and territories worldwide. In November 2018, IDG Capital and Matrix Partners invested $20 million in KuCoin, and Forbes Advisor named it one of the Best Crypto Exchanges of 2021 in 2021.

    Deposit & Withdrawal

    KuCoin can purchase cryptocurrencies with fiat money, but only through a third-party app. For instance, investors may pay with a credit or debit card, Apple Pay, or Google Pay, but not with a bank transfer. You will also be required to purchase a certain amount of one currency immediately. 

    You could, for example, spend $200 on Tether (USDT), a stablecoin tied to the US dollar. Tether can then be used to purchase additional currencies. You couldn’t just deposit $200 and wait for the right time to invest it. Other exchanges allow you to deposit money and decide how and when to spend it.

    Trading Fees for KuCoin

    Kucoin’s trading fee structure is quite simple. The platform charges both makers and takers 0.1 percent, making it one of the most affordable Bitcoin exchanges online. You can further reduce your fees if you hold the platform’s native Kucoin tokens.

    KuCoin listed Ren (REN) on March 02, 2021, and supported the REN/USDT trading pair.

    Pros & Cons of the KuCoin platform:

    • User-friendly exchange
    • Low trading and withdrawal fees
    • Vast selection of altcoins
    • Ability to buy crypto with fiat
    • 24/7 customer support
    • No forced Know Your Customer (KYC) checks
    • Ability to stake and earn crypto yields
    • Complicated interface for newbies
    • No bank deposits
    • No fiat trading pairs

    Visit KuCoin

    8 – Bitfinex

    Bitfinex

    Bitfinex is a popular cryptocurrency exchange where users can buy, sell, and trade digital coins. The platform was founded in 2012 and is headquartered in Hong Kong. Because it has many charting tools, intermediate and professional traders are the most likely to use Bitfinex’s trading area.

    Apart from cryptocurrency, wire transfers are the sole accepted payment option for depositing and withdrawing funds. Like Coinbase, Bitfinex is one of the only platforms that allows you to short cryptocurrencies and leverage trading tactics.

    Founders: Bitfinex launched as a peer-to-peer Bitcoin exchange in December 2012, offering digital asset trading services to customers worldwide. Since 2013, Giancarlo Devasini has been Bitfinex’s CFO and has played a vital role in the company’s success. Giancarlo Devasini began his career as a doctor in 1990 when he earned a Doctor of Medicine degree from Milan University.

    Bitfinex – Is it regulated?

    Bitfinex Securities Ltd., a provider of blockchain-based investment products, has created a regulated investment exchange (Bitfinex Securities) in the AIFC to improve members’ access to various financial products. As a result, Bitfinex is completely unregulated. The firm’s headquarters are in Hong Kong and it is registered in the British Virgin Islands.

    Fees and deposit limits – Bitfinex charges a 0.1 percent fee for bank transfer deposits. For example, if you deposit $10,000, you will be charged a fee of $10. You will be charged a small fee if you deposit with cryptocurrency, determined by the coin you use to fund your account.

    Withdrawal fees – Bitfinex charges a 0.1 percent fee for bank transfer withdrawals. If you need money in less than 24 hours, you can pay a 1% expedited fee. On the other hand, Bitcoin withdrawal costs differ based on the coin.

    Pros & Cons of the Bitfinex platform:

    • Established in 2012.
    • Suitable for experienced traders.
    • Over 100 coins are supported.
    • Bank wire deposits and withdrawals are accepted.
    • There is no regulation.
    • US citizens are not accepted.
    • Expensive trading fees
    • Hacked on more than one occasion
    • The support team only available via email

    Visit Bitfinex

    What is Ren (REN)?

    The Ren protocol (formerly the Republic Protocol) promotes interoperability by allowing users to send cryptocurrency across several blockchains. It will enable anyone to lock cryptocurrencies like Bitcoin (BTC), Bitcoin Cash (BCH), and Zcash (ZEC) into the Ren program and mint the ERC-20 equivalent tokens RenBTC, RenBCH, and RenZEC on Ethereum in a 1:1 ratio.

    The new ERC-20 tokens can now be used in DeFi products for various purposes, including trading, portfolio management, borrowing, and lending. The original assets are still locked in the Ren program and can only be accessed by paying the price.

    How does REM operate?

    The Ren protocol is supported by the Ren Virtual Machine (RenVM), powered by a distributed network of machines known as “Darknodes.” These computers provide their CPU power and storage space to the virtual machine in exchange for fees, allowing cryptocurrency to travel across blockchains.

    RenVM acts as a trustless custodian for your cryptocurrency, as each RenBTC token you create is backed by a BTC token held in the RenVM. The RenVM makes use of some rather complex technology to help with this and maintain privacy:

    Shamir’s Secret Sharing: Shamir’s Secret Sharing is a cryptographic principle that divides secret material into pieces that various people keep. Ren uses this method to keep the private keys of the RenVM network hidden, even from the Darknodes.

    Secure Multiparty Computation (sMPC): Secure Multiparty Computation (sMPC) is a method that allows developers’ code to be run without the inputs or results being revealed.

    Byzantine Fault Tolerance (BFT) – Byzantine Fault Tolerance (BFT) – This method ensures that the Ren network continues functioning even if some nodes fail.

    Hyperdrive: RenVM’s consensus mechanism, Hyperdrive, is designed to finish lightning-fast transactions.

    Is it Worth Buying REN in 2024?

    The historical trajectory of REN’s price has demonstrated a certain level of predictability, as it has undergone notable fluctuations over the years. Beginning with its Initial Coin Offering (ICO) at just under 4 cents, REN burst onto the scene in May 2018, soaring to a price of $0.13. However, the winter of the same year saw a steep decline, with the REN/USD price plummeting to $0.015, a mere 25% of its ICO price.

    The influence of Bitcoin’s surging popularity in 2019 positively impacted altcoin prices, including REN, which reached a peak of $0.15. The subsequent year, 2021, witnessed REN’s token price achieving an all-time high of $1.83. However, This zenith was short-lived as the price embarked on a roller-coaster ride, dropping to $0.3 and then recovering to hit $1.16.

    After this peak, REN faced a sustained correction phase that extended until the previous year’s close. In 2023, the cryptocurrency commenced a journey of recovery from its losses. Yet, recent trends indicate another corrective phase, with the price retracing to levels observed at the beginning of the year.

    As of the latest available data, the current REN price is $0.047364, accompanied by a 24-hour trading volume of $4,799,540. Real-time updates on the REN to USD price continue to be monitored closely. REN has registered a 1.15% decrease in value over the past 24 hours.

    In the broader context, REN occupies the #354 ranking on CoinMarketCap, boasting a live market capitalization of $47,322,506. The circulating supply of REN coins totals 999,127,500, nearing its maximum supply of 1,000,000,000 REN coins. Investors and analysts alike are closely observing REN’s performance in light of these developments, seeking insights into its potential trajectory as 2023 unfolds.

    Will the REN Price Go Up in 2024?

    The journey of Ren’s price has been marked by considerable market volatility, yet its resilience remains a testament to its significance within the crypto landscape. However, the network faced a substantial setback in 2022, a year that saw transformative changes and challenges.

    In a pivotal announcement last November, Ren Protocol revealed a strategic acquisition by Alameda, in collaboration with the existing Ren leadership, to ensure sustained development funding. Despite this positive stride, the proceedings under Chapter 11 involving FTX Group, the parent company of Alameda, cast a shadow over the funding. The timeline for Ren’s development was constrained, with Alameda’s resources committed only until Q4.

    Central to Ren’s roadmap was the launch of Ren 2.0, a community-driven iteration with multichain support and scalability through a decentralized MPC network. While a testnet loomed on the horizon, achieving full readiness by Q4, including essential audits and tooling, appeared challenging. Additional funding was deemed indispensable to usher in the complete community-driven Ren 2.0 phase.

    Exploration of additional funding avenues oriented towards community benefit was underway. Community engagement in decision-making via governance proposals emerged as a promising pathway to resolve the funding situation.

    Amidst the backdrop of Alameda’s bankruptcy proceedings, a decision was made to expedite the sunset of Ren 1.0, prioritizing ecosystem safety and integrity. This strategic move aimed to protect Ren’s reputation and its long-term prospects.

    January 2023 brought another twist, with the Ren Protocol disclosing a directive from FTX, Alameda Research, and affiliates instructing the transfer of crypto assets to FTX debtors’ wallets. This measure sought to safeguard assets in case of potential system shutdowns, specifically segregating Ren’s assets from other debtor wallets. Ren’s alliance with Alameda Research in February 2022 was anticipated to accelerate technology decentralization, benefiting from Alameda’s robust resources.

    In light of troubles surrounding Alameda, users were advised to unwrap their tokens from the Ren 1.0 network, a step necessitated by the network’s shutdown due to related events.

    The Ren Foundation initiated a token minting process to meet post-transition funding requirements, generating 200 million tokens. Ren 2.0, the forthcoming version, promises the deployment of RenEVM, an Ethereum-based plugin for Darknode that will facilitate the deployment of diverse applications on the Ren blockchain.

    While Ren’s future direction remains uncertain, all eyes are on how the coin’s price will react to these intricate dynamics. As of August 26th data, prevailing sentiment leans bearish. Technical analysis indicators display 29 bearish signals compared to 1 bullish signal. Projecting ahead, indicators suggest Ren’s 200-day Simple Moving Average (SMA) is poised to decline in the coming month, potentially reaching $0.070331 by September 25, 2023. Meanwhile, the short-term 50-day SMA is forecasted to be around $0.048909 by the same date.

    The Relative Strength Index (RSI) stands at 33.60, signaling a neutral market position, reflecting the ongoing fluctuations and uncertainties that shape Ren’s current trajectory.

    Ren Mining: Can You Mine REN?

    If you want to mine Ren, study beforehand to see if your setup will make you money. Rens prices fluctuate, and the number of miners affects your ability to earn. Consider how worthwhile it would be to put up a mining setup at the present price of REN. ASICs, which are regrettably incredibly expensive, would be the most potent hardware for mining.

    A GPU will not produce a significant return when mining Ren using a computer, but it could be a good place to start. Mining profitability statistics can show you how much money you can make with every millionth of a second hash rate. Electricity costs are also included in these graphs. The difficulty of mining increases as the number of miners increases, as does the desire for a higher hash rate. Your hash rate is the computer power you dedicate to mining new blocks. This requires a period known as “block time.”

    How to Mine Ren?

    What is an ASIC miner, and how does it work? ASIC mining rigs are computers that include a motherboard, ASIC chip, and cooling system. They’re made to mine a specific coin and are good at it. So the goal of this device is to solve as many cryptographic problems as possible. The initial investment in one of these machines may pay for itself in a few months, but there is still a significant problem with noise, heat, and power consumption, and they do break down and wear out because they work 24 hours a day, seven days a week.

    REN Price Predictions: Where Does REN Go From Here?

    Cryptocurrency is such an asset whose price prediction is extremely challenging. They stand to be easily influenced by a lot of factors that are outside of their scope of control. Thus, even the best predictions could be negated by a small turn in events. Additionally, it is no secret how social media can manipulate its price for profit.

    Thus, it is essential to analyze and study individually before investing thoroughly. It is also important to remember that prices may fluctuate at any time. Thus, the only money that should be invested in the market is the money investors can afford to let go of if circumstances occur.

    Lets read into these predictions for 2023 and the years after that to understand how the REN market is shaping.

    REN Price Prediction 2023

    According to RENs price prediction analysis, its price will rise in 2023. The maximum level REN coin value can go is up to $0.1. The minimum level is around $0.60.

     

    REN Price Prediction 2024

    2024 is expected to start a steadfast bullish movement in the crypto world. This will positively impact all coins and tokens, including REN. Therefore, RENs price is expected to increase further. The maximum price could touch as close as $0.186, and the minimum could be around $0.154. This means that a growth of 30% from 2023 is expected.

    REN Price Prediction 2025

    The bullish movement from 2024 is expected to continue till 2025. This means that REN’s price could further increase to around $0.273. The minimum level of RENs trading price is expected to be as low as 0.213. This means the average will be around $0.245 for 2025.

    REN Price Prediction 2026

    By 2026, a massive change is expected in the crypto market. It has grown remarkably in the last decade and is expected to continue to evolve in the future. REN’s price is expected to rise again in 2026 due to its growing popularity and increase in investors. RENs price could go as high as $0.41 and is not expected to drop below $0.31.

    Summary

    The Ren protocol is well-positioned to benefit from the DeFi revolution as the RenVM will meet the increased need for cross-chain liquidity. Ren comprises a network of nodes that uses sophisticated technical processes to make it safe. Ren is unique among similar solutions since it is entirely trustless and decentralized.

    Since the RenVM can address the rising demand for cross-chain liquidity, the Ren protocol is ideally positioned to benefit from the DeFi revolution. Ren is a network of nodes requiring fairly complex technical methods to keep it safe. Ren stands out among similar alternatives because it is decentralized and trustless. As previously stated, the coin has the potential to grow at an exponential rate. As a result, if you want to buy it, our recommended regulated broker, eToro, can assist you.

    The platform is, of course, licensed and regulated by the FCA and has one of the best reputations in the industry. Furthermore, eToro provides a wealth of educational resources to help those new to the market learn the ropes.

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    FAQs

    Any risks in buying REN now?

    REN can be a lucrative investment. At the start of the year, the price of REN was around $0.04, which dropped from a high of $1.32 placed in September 2021. Since it's testing the double bottom and has gained support at the $0.30 level, the odds of an uptrend remain strong. Thus, there's less risk in buying REN coins.

    Should I buy REN?

    Indeed, Ren (REN) is a good investment. The future REN cryptocurrency price prediction is optimistic, indicating the token has long-term earning potential. However, it can be deemed a lucrative long-term investment based on the expected price levels. According to historical data, the REN cryptocurrency has dropped over 80% during the last six months and is now gaining support. Investors may jump at the chance to purchase an oversold digital asset.

    Is it safe to buy REN?

    The REN project grew in size this year, and it will continue to grow in the coming years and decades. Ren has great potential, and there's much to be excited about. The REN community is extremely helpful, giving back constantly and evolving to the point where the best is yet to come. Many professionals and traders have always regarded Ren as a good investment. Surprisingly, the cost is rising. As a result, you can be confident that your investment will be well rewarded.

    How much will Ren be worth in 2025?

    Many platforms and analysts believe Ren's price will continue to rise over the next five years, topping $2 by the end of 2025. Even though the price appears to be excessive, you never know. Ren and other cryptocurrencies are extremely volatile, and their values can fluctuate dramatically at any time.