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Ways to invest in Ravencoin
You can start by signing up to an online broker or exchange platform. Once you have an account, you can buy, sell, or trade coins as much as you like according to an investing strategy that suits you.
You can use a broker to trade coins quickly, or grab some coins on an exchange to hold them for a long time. There are investment vehicles like mutual funds and ETFs that take the responsibility of picking individual coins out of your hands. Use the links below to learn more about how each method works.
What is Ravencoin?
Ravencoin is a platform that lets users create digital tokens that represent real world assets. Its cryptocurrency RVN is crucial to how the platform works, as you need it to create those digital tokens. The coin is also an asset in itself that you can buy or trade online.
Read our guide to tokenised stocks to get a good introduction into the world of digital assets. In the lesson we discuss how you can turn something into a token and the benefits of doing so. Then scroll down to learn more about investing in Ravencoin.
How to invest in Ravencoin
There are lots of different options available, and we have put together a list that summarises each of the ways in turn. You can find it below, and it’s a good idea to read through them all so you can get to grips with the approaches you can use.
- Broker platforms. The simplest and most direct way to get a cryptocurrency is to sign up with a broker. You can navigate to the Ravencoin page and buy some instantly at a fixed price. You need to be aware of a couple of things when you use a broker: they often charge a commission on each trade, and not every coin is available. Brokers are adding more cryptocurrencies all the time but only the most popular ones are guaranteed to be available.
- Cryptocurrency exchanges. An exchange has a wider range of coins and lets you trade one coin for another much more easily than a broker. Exchanges are peer-to-peer platforms, which means users trade with each other rather than through a middleman. They take a bit more getting used to, not least because you often have to trade your fiat currency for a cryptocurrency like Bitcoin first, and use that Bitcoin as the means of payment for smaller coins like Ravencoin.
- Funds. A fund is a managed investment vehicle that tends to only be available to wealthier investors. You buy into a fund like you would a stock and a manager decides what to invest in with all the money contributed by lots of different people. Increasingly, cryptocurrency funds are springing up, so if you have the means then look for one that holds Ravencoin.
- Mutual funds. A mutual fund works just like a fund, except it’s available to regular investors as you can become part of one with virtually any amount of money. You can find a mutual fund through your broker and leave the decisions on which assets to choose to the fund manager.
- Ravencoin ETFs. An exchange-traded fund follows the performance of a particular sector, industry, or market by owning all the assets within it. ETFs are very easy to find, you can just log into your broker account and buy one as you would shares in a company. They also require very little management and are ideal for beginners or anyone who doesn’t want to be checking their portfolio every day. Look for an ETF that tracks cryptocurrency or Ravencoin’s price in particular.
- Crypto debit cards. You can spend your Ravencoin with a crypto debit card. These cards work just like your bank card: you can spend whatever’s in your account with any merchant that accepts payment. Generally these are online only at the moment, but a debit card opens up the possibility of using your crypto holdings to fund your day to day lifestyle.
- Smartphone apps. With a mobile app you can manage your Ravencoin from anywhere. There are apps now that let you trade coins, store them in a wallet, or invest them to earn interest on your holdings. Many apps offer the same features as the main website and brokers in particular tend to have good app platforms.
- Ravencoin wallets. A wallet is a place for storing your cryptocurrency so that it’s safe from hackers. Wallets come in many different forms, from simple mobile options to extra-secure offline hardware, but they all work in a similar way: your coins are encrypted and stored so that only you can access them. Many wallets also come with integrated exchanges so you can buy and sell coins straight from your holdings.