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How to buy Augur (REP)
Learn how to buy Augur (REP) on 14+ crypto exchanges in our step-by-step guide.
You can buy Augur (REP) on a cryptocurrency exchange like Kraken. These specialized marketplaces allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. Augur is designed to function as a betting platform, but in outcome it’s more of a soothsaying device – or augur if you will. Here's how to buy Augur.
How to buy Augur in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Compare crypto exchanges
The easiest way to buy Augur is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
Create an account
To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
Make a deposit
Once verified, you can deposit $ using the payment method that best suits you – bank transfer, cryptocurrency, wire transfer and osko payments are widely accepted.
You can now exchange your funds for Augur. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your Augur to your personal wallet.
Where to buy Augur
Find an exchange to buy, sell and trade REP by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy Augur?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in the US to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Augur?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Augur.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing REP with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
Where can I buy Augur with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy REP with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy REP on the following exchanges:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase REP by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for REP on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Augur?
The easiest way to buy REP is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying REP, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of Augur has been performing recently.
Best Augur wallets to store your REP
You can keep your REP on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Is Augur a good investment?
When deciding whether or not to invest in a cryptocurrency, it’s important that you’re aware of a number of factors that may influence the asset’s price. In the case of REP, here are some things you should know:
- Token use-case: The REP token itself is an ERC20 token that functions as a license to use the platform and is the main currency of exchange on Augur. It is used for buying shares and paying the nominal fees associated with participating and creating events. The total supply of Augur is 11 million, without any kind of mining program, and it’s a divisible token.
- Ethics: While Augur is framed as a soothsaying/predictions platform, its most viable real-world use will be as a betting platform, particularly for sports. Gambling is illegal in a number of countries and cultures and there is a lot of debate regarding the ethics of this activity. If you are against gambling, it would make sense to avoid investing in REP. Even if Augur is more transparent and reputable than other betting companies, governments are typically strict with regulations on those types of platforms. This could end up defeating the purpose of the platform’s decentralized nature.
- Opposition: One concern traders need to consider is whether established industries will oppose Augur. Traders may find that Augur’s potential for gambling, insider trading and accurate predictions will give lobbyists a lot of ammunition. This is not only pertinent to anti-gambling establishments, but also betting platforms that begin to lose clientele.
Additional information about Augur can be found using our REP analysis tools.
Today's Augur price versus ATH
Compare today's price of Augur ($7.06 USD) against its all-time-high price of $2016-01-22T00:00:00.000Z USD on 01 January 1970. The closer the bar is to 100%, the closer REP is to reaching its ATH again.
ATH date: January 22, 2016
Augur ATH: $341.85
How to trade, convert or sell AugurYou can convert or sell your REP with the same exchange you bought it through:
- Sign in to the exchange you have REP on.
- If you store your Augur in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of REP you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Augur.
- Complete your transaction and move your REP to a wallet for storage.
Disclaimer: Cryptocurrencies, including Augur, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of REP is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Augur or any other cryptocurrency discussed.
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