How to buy Reserve Rights online
This guide introduces the Reserve Rights coin to beginners, including where to buy RSR coins and what to look out for before buying. You can also find our step by step guide on how to buy cryptocurrency.
Compare where to buy Reserve Rights, and open an account
Visit one of the brokers below to buy Reserve Rights straight away. We have compared the best crypto brokers to help you find the right one when buying cryptocurrency. If you aren’t ready to buy yet, read on to find out more about RSR before you decide to invest.
What is Reserve Rights?
Reserve Rights is the governance token of the Reserve app. Reserve has created a stablecoin – a cryptocurrency with its price fixed to the value of an asset – as an alternative to fiat currencies. The Reserve Rights coin is like the Robin to the stablecoin’s Batman: while it has its some value of its own, it exists to support that stablecoin.
It can do this because the stablecoin has a target value of $1. As soon as the price moves from that value, the Reserve Rights coin is used to either buy new assets, or buy the stablecoin, to bring the price back to $1. The prospect of a crypto alternative to regular currencies has enticed some big names on board, so Reserve is backed by a group of investors headed by Peter Thiel, the founder of Paypal.
How does Reserve Rights work?
Reserve Rights works by making sure the value of the Reserve stablecoin always stays at $1. When it deviates from that number, Reserve Rights springs into action. Either Reserve buys more assets with the RSR coin, releasing more onto the market, or sells its stablecoin to Reserve Rights holders at $1, removing them from the market and creating the demand to bring the price back down.
Arbitrage opportunities exist because Reserve sells the stablecoin to RSR holders when its value goes above $1, so they can immediately turn around and sell it on the open market at $1, pocketing the difference. This means there’s always an incentive to buy when the price goes up, and the resulting demand settles the value back to its $1 point.
How to buy Reserve Rights online – a step-by-step guide
Step 1. Find an exchange to buy Reserve Rights
To buy RSR coins you need to find an exchange that offers RSR trading and, as it’s relatively new, there are only a few that do so at the moment. Usually, you’ll find you need to change your fiat currency (like GBP, USD, or EUR) into Bitcoin first, as the exchange will only offer BTC/RSR trading.
If you want to find out where to buy Reserve Rights immediately you can try these two top exchanges:
- Binance: One of the biggest names in the cryptocurrency trading space, Binance allows users to trade hundreds of different cryptocurrencies, including Reserve Rights. Open an account right now >
- Coinbase Pro: One of the most popular exchanges around, Coinbase also has an investment interest in the Reserve platform. Ideal for beginners, it can help you get to grips with cryptocurrency. Join Coinbase today >
Step 2. Sign up and fund your account
Your chosen exchange will likely want you to sign up and verify your account before it lets you trade. Most places are happy to accept a copy of your photo ID, like a driving licence or passport.
Once your account is verified, you just need to change your cash into a cryptocurrency to buy RSR tokens.
Step 3. Buy Reserve Rights
Buying Reserve Rights is the easy part. Look for the RSR price and click buy to execute the trade. As for how to buy RSR with Bitcoin, find the RSR/BTC price pair and you’re ready to go.
Step 4. (Optional) Get a suitable wallet
Most exchanges let you store your coins securely in your account. However, if you’re looking for extra security or plan to hold lots of RSR coins, you might want to think about getting your own wallet.
There are plenty of wallets available but here are two of the top options to consider:
- Infinito Wallet: A mobile wallet that stores your coins on your phone, Infinito offers trading and storage for a wide range of the most popular cryptocurrencies. Get an Infinito Wallet today >
- Ledger Nano S: A hardware wallet that lets you store your cryptocurrency securely offline. The Ledger Nano S is the most popular cryptocurrency hardware wallet on the market. Get your wallet here >
How to trade Reserve Rights – a step-by-step guide
Step 1. Find a broker
To trade RSR you want to find a broker with low fees that lets you perform transactions quickly and easily. Much like exchanges, few brokers offer RSR trading at the moment but that might change as the coin becomes more popular.
Step 2. Deposit money
You can use your fiat currency to trade cryptocurrency with most brokers. Before you get started, remember to think about trading fees, as they can eat away at your money if you choose a broker that charges high costs on every trade.
Step 3. Decide how you’d like to trade
You have a few different options for how to trade. For beginners, we recommend taking a look at our free cryptocurrency courses to learn the basics and check out your trading options. That way you can understand more about what trading involves and decide which method is best for you.
Step 4. Start trading
When you’re all set up and have decided on a strategy, you’re ready to start trading. Many brokers offer beginner trading accounts where you can start off with ‘pretend’ money to get to grips with cryptocurrency without the risk of losing money.
Taking some time to think about investing in cryptocurrency is always a good idea. If you’re not sure and want a few more pointers on which way to go, here are some pros and cons of RSR to think about before you buy.
- Reserve has already rolled out its app in some South American countries
- There is demand for a stable cryptocurrency with a buying power that can be trusted
- The Reserve Rights token offers unique opportunities for experienced traders
- It’s backed by big name investors, like Peter Thiel and many others in Silicon Valley
- Reserve’s bold plans will likely take a very long time to come to fruition
- There’s quite a lot of competition to be the currency of the future
If you still want more information to help you decide, here are three more things to think about before you invest in Reserve Rights.
1. Is now a good time to buy Reserve Rights?
A lot depends on your investment horizons. The most immediate opportunities are for experienced, short term traders who can use RSR to benefit from fluctuations in the price of the Reserve stablecoin. In the long term, it depends on whether Reserve can introduce its stablecoin into wider use.
You should always do your research before investing. This is particularly the case for RSR, where its value relies on how much Reserve is used around the world. To help you decide whether to buy RSR, we’ve got the most up to date market analysis below:
2. What problem does Reserve Rights solve, and what are the coin’s investment prospects?
Reserve Rights solves the problem of volatility that affects a lot of cryptocurrencies. But it solves that problem in another coin rather than itself. By supporting a stablecoin with a fixed value, it helps create a digital currency that could be an alternative to fiat currencies around the world.
Reserve has already rolled out its stablecoin to some South American countries as an alternative to fiat currencies hit by crippling inflation. Venezuela especially is a test run for how Reserve could work in practice, and RSR’s long term investment prospects depend on how successful that project is.
It’s also worth noting that reserve is backed by the founder of PayPal, a variety of Silicon Valley investors, and the Coinbase exchange. These links could lead to faster take-up if those trials work well. You should always stay on top of the latest news, for signs of Reserve being introduced as a payment option on either of those platforms. You can find it below:
3. Do you want to hold Reserve Rights for the long term?
Reserve is a platform with grand plans for the long term. However the immediate value of the RSR coin comes from its ability to benefit from arbitrage opportunities – using it to buy RSV when the price goes below $1 and selling that RSV on the open market at $1, making a small gain on the transactions. This isn’t a strategy that’s suited to everyone, and you can also hold RSR for the long term and look to benefit from an increase in value over time.
Considerations for a long term investment strategy
If you believe that Reserve can establish the leading stable cryptocurrency, RSR is a great way of getting in early. You can sign up to an exchange and buy RSR straight away. If you want extra security, you might want to think about getting a wallet to store your coins as well.
Considerations for a short term trading strategy
If you want to trade RSR quickly or use it to exploit arbitrage opportunities with the Reserve Stablecoin, then you don’t need to worry about its long term performance. You should sign up for a broker with low trading fees and get started. One way to be improve your short term trading skills is to learn about technical analysis, which can help you predict price movements.