In this guide you’ll get information about where to buy Rai Reflex Index, if you are planning to buy RAI token – You’re in the right place!
RAI is considered as a stable asset that is backed by the Ethreum and it is also non pegged. It is considered handy because it functions as the more stable collateral for other (DeFi) protocols, which is compared to the BItcoin and Ethereum. It can also function as a stable asset with the embedded interest rate. RAI plays a crucial role in Reflexer protocol.
Reflexer itself is a decentralized platform where any user is able to use their (crypto) collateral to issue the reflex indexes. Reflex indexes are the stable assets not pegged to anything. It is the same to US dollar and how it isn’t pegged – and yet still considered stable. The function of the reflex indexes is to dampen their underlying collateral’s volatility.
Think of RAI as a reflex index with ETH backed mechanism and managed float regime. The protocol issuing RAI continuously tries to stabilize the price by constantly revaluing or de-revaluing the RAIUSD while at the same time, the exchange rate would be determined by demand and supply. The mechanism for demand and supply would play out between two different parties of RAI holders (the one holding, speculating, and using RAI in other apps and protocols) and SAFE users (the ones generating RAI with the Ethereum).
Naturally, RAI has several advantages when compared to other protocols. First of all, the platform offers flexibility. It’s because the platform is able to revalue or devalue RAI as the response to RAI market price’s changes. This process alone would transfer value (between RAI holders and SAFE users) and also incentivize both parties, so the market price can be brought back to the target. This is the same mechanism used by countries when they revalue or devalue their currencies so they can deal with trading imbalance.
Moreover, the platform also offers impressive discretion. The protocol is able to change the (target) exchange rate. Whenever it wants to, it is able to repel or attract capital.
- Official website: https://reflexer.finance/
- Twitter: https://twitter.com/reflexerfinance
- Whitepaper: https://github.com/reflexer-labs/whitepapers/blob/master/English/rai-english.pdf
Table of Contents
Rai Reflex Index (RAI) Features
- Wild credit. This feature is basically a permissionless protocol for lending that features isolated lending pairs.
- Vesq. This is the feature acting as the bonding protocol within Polygon, and it is backed by various multiple assets.
- Zapper. This feature can visualize and track users’ DeFi liabilities and assets easily.
Where to Buy, Sell and Trade Rai Reflex Index aka RAI
You can basically use debit card, credit card, or even PayPal to buy the Rai Reflex Index (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Rai Reflex Index as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy Tether first. After you get the ETH or BTC or USDT, you can convert it to Rai Reflex Index. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.
In general, the process would be:
- You go to the online exchange and buy the Ethereum (ETH), Bitcoin (BTC), or Tether (USDT)
- Find a crypto exchange that supports Rai Reflex Index currency and exchange your Ethereum / Bitcoin / Tether with the Rai Reflex Index
- Store your Rai Reflex Index to a secured wallet
Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) or Tether (USDT)
There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.
The site will ask for some basic information about yourself, make sure to tell the truth. Otherwise, you could face withholding of your investment. Make sure to type your name, your e-mail, and your password correctly. The stronger your password is, the safest your money will be. You will be asked to check your status as a living being using a re-captcha box and to agree to the terms of use of the platform.
Get $10 Bonus when you sign up for Coinbase!
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- You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
- Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
- You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.
That’s the first step in buying Rai Reflex Index, once you get your Bitcoin or Ethereum or Tether, you can continue to the next step.
Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments
After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH or USDT from your Coinbase wallet.
With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.
These are the best exchanges we can recommend for you to exchange BTC or ETH or USDT with Rai Reflex Index:
Gate.io is a crypto exchange service that is part of Gate Technology Inc. Gate.io is registered in Virginia, United States, and founded in 2017. They only handle transactions using cryptocurrencies, so you won’t find Fiat options with them. Since they work with the best ranked digital assets in the industry, they can average up to $48million in transactions.
- Deposit Methods: Cryptocurrency Only
- Fiat Currencies: N/A
- Supported Cryptocurrencies: BCH, EOS, TRX, ONT, ETH, BTC, BTM, AE, OCN, ADA, IHT, XRP, ETC, NAS, LTC, & over 1040+ more
- Trading Pairs: 1801+
IMPORTANT! Once you are registered to the crypto exchange above, Go back to COINBASE and send your Bitcoin/Ethereum/Tether to your new exchange. Find the RAI/BTC or RAI/ETH or RAI/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you RAI/USDT – so you need to convert your BTC or ETH to USDT first in order to buy Rai Reflex Index (RAI)
Step 3: Managing Your Crypto Assets in a Secure Wallet
As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.
You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.
There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.
For Securing your Rai Reflex Index (RAI) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
- Secure
- Mobile Friendly
- Easy to Manage
- Supported Coins: 1200+
TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.
- Invented for your digital independence
- keeps your keys safe
- Easily back up your entire wallet
- Supported Coins: 1093+
Frequently Asked Questions (Faqs)
Can I Buy Rai Reflex Index (RAI) with PayPal?
You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the Rai Reflex Index. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Rai Reflex Index (RAI) with Cash?
You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:
- Make sure you have a BTC / ETH wallet before you buy from seller
- Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.
Can I Buy Rai Reflex Index (RAI) with Skrill?
You can’t buy RAI directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Rai Reflex Index. You can buy BTC/ETH with skrill by using these exchanges::
- LocalBitcoins
- Paxful
- Virwox
- SpectroCoin
- Lykke
- Exmo
- Coingate
Can I Buy Rai Reflex Index (RAI) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair RAI/BTC and begin the transactions.
Can I Buy Rai Reflex Index (RAI) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support RAI/ETH trading pair.
What Is the Best Payment Method to Buy Rai Reflex Index (RAI)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Rai Reflex Index right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Rai Reflex Index (RAI)?
Once you have purchased the Rai Reflex Index, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Rai Reflex Index (RAI)?
Find a crypto exchange which allow pairing RAI with BTC or ETH or USDT – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine Rai Reflex Index (RAI) and Not Buying It?
You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a Rai Reflex Index is to buy it from a reliable exchange.
Conclusion
Reflexer is designed as a platform in which users are able to use their own cryptocurrency collateral to generate reflex indexes. The platform has its own unique mechanism and system, and it may be appealing for certain markets or users. Interested in joining? Be sure to buy Rai Reflex Index (RAI) first.
