Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Where to buy Ravencoin (RVN)

Read our guide to buying, selling and trading Ravencoin (RVN) in the US.

Promoted

Crypto.com App

Crypto.com App logo
  • Buy RVN and 60+ other cryptos
  • Spend RVN anytime with the MCO Visa card
  • Earn interest on your crypto holdings
Go to site

Launched in January 2018, Ravencoin (RVN) is an experimental cryptocurrency that aims to create a digital peer-to-peer network for the facilitation of asset transfers, such as the transfer of tokens between users. Built on a fork of the bitcoin (BTC) code, this open-source platform is designed with a focus on user control, privacy and censorship resistance.

Disclaimer: This information is not financial advice or an endorsement of cryptocurrency or any specific provider, service or offering. Cryptocurrencies are highly volatile and high risk. Do your own research and seek financial advice before buying. Please check with providers if their services are available in your state.

Where to buy RVN

Ravencoin can be bought and sold at many exchanges in the US. Compare exchanges by deposit methods, fiat currency support and total cryptocurrencies to find the best fit for your needs.

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Gate.io Cryptocurrency Exchange
Cryptocurrency
USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN

267
cryptocurrencies

Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in random tokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

125
cryptocurrencies

Get 0% fees on credit/debit card purchases for 30 days after signup.
Buy 80+ cryptocurrencies, earn up to 8% on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Binance.US Cryptocurrency Exchange
Bank transfer (ACH), Bank transfer, Cryptocurrency, Debit card, Wire transfer
USD

56
cryptocurrencies

Get a US$15 bonus when you trade US$100 or more of any supported crypto. T&Cs apply.
Trade with USD on Binance.US, the American dollar onramp of the world’s largest cryptocurrency exchange. Non-US residents can read our review of Binance's main exchange here.
Huobi Cryptocurrency Exchange
AdvCash, Cryptocurrency, SWIFT, Wire transfer
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+ more

219
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
loading

Compare up to 4 providers

How to buy Ravencoin (RVN)

If you want to buy Ravencoin, you will need to complete the following steps:

Step 1. Sign up for an account on an exchange that supports RVN

You’ll need to create an account by entering an account name and generating a password. Remember to keep a copy of this password somewhere safe so that you can access your account again in the future.

Step 2. Deposit funds into your account

Click on the “Deposit/Withdraw” link and select the cryptocurrency you’d like to deposit.

Step 3. Buy RVN

Navigate your way to the exchange page and search for “RVN”. Click on the relevant search result and enter the details of your transaction in the “Buy RVN” box. Make sure to review the amount of BTC you’re spending and the amount of RVN you’re buying before finalizing the transaction.

How to sell RVN

If you want to sell your RVN holdings, the process you’ll need to follow is similar to that outlined in Step 3 above. Of course, you’ll need to make sure you enter your transaction details in the “Sell RVN” box rather than the “Buy RVN” box. If you don’t know the best place to sell RVN, compare exchanges to find one that fits your needs.

How to mine RVN

To start mining RVN, you will first need to create a wallet and generate a wallet address that your RVN can be paid into. Next, choose a mining pool – you can see a list of available pools on Ravencoin’s Bitcointalk thread – and follow the instructions to get started.

Designed to be mined on readily available consumer-grade hardware, Ravencoin uses a new algorithm known as X16R. It’s designed to be Application Specific Integrated Circuit (ASIC) resistant and constantly switches between 16 different algorithms.

What is ASIC hardware and ASIC resistance?

While bitcoin was initially mined with Graphic Processing Units (GPUs), ASIC hardware was eventually developed for mining. However, bitcoin mining with ASIC hardware has relatively large costs and energy requirements in comparison to bitcoin mining with GPUs. With bitcoin mining becoming less accessible, several people thought that bitcoin itself was becoming more centralized. Designed to be mineable by anyone who has access to a computer and the Internet, ASIC-resistant cryptocurrencies like RVN and Vertcoin (VCN) are meant to be more egalitarian.

Want to learn more about bitcoin mining? Our guide walks you through how it works.

Which wallets can I use to hold RVN?

Storing your RVN on a cryptocurrency exchange for lengthy periods is not recommended due to security reasons. With this in mind, you’ll need to find a secure wallet that provides support for RVN coins.

To learn more about cryptocurrency wallets, read our comprehensive wallets guide.

How Ravencoin works

A Ravencoin post on Medium from November 2017 references Game of Thrones when introducing this experimental currency: “In the fictional world of Westeros, ravens are used as messengers who carry statements of truth. Ravencoin is a use case-specific blockchain designed to carry statements of truth about who owns what assets.”

Launched on January 3, 2018, the ninth anniversary of bitcoin’s launch, Ravencoin is an open-source project designed to enable instant payments to anyone around the world. The aim of the project is to create a blockchain optimized specifically for the transfer of assets such as tokens from one holder to another.

A fork of the bitcoin code, Ravencoin features three key changes:

  • The issuance schedule (block reward of 5,000 RVN)
  • Block time (1 minute)
  • Mining algorithm (X16R)

This algorithm is intended to address the centralization of mining caused by ASIC hardware. In the Ravencoin white paper, the team behind the currency explains that the fixed order of ordinary hashing algorithms lends itself to the construction of ASIC miners.

However, the X16R algorithm aims to overcome this problem by constantly disrupting the ordering of the hashing algorithms – it uses the same algorithms used in X15 and SHA512, but the ordering of those algorithms is changed based on the hash of the previous block.

Key things to consider if you’re thinking about buying RVN

Cryptocurrencies are complicated and volatile, so buying any digital currency is highly speculative. With this in mind, it’s important to research and assess the key factors that could affect a currency’s value before making a purchase.

If you’re thinking of buying RVN, make sure you consider the following factors:

  • Overstock investment. In a February 2018 interview with Business Insider, the CEO of US Internet retailer Overstock.com, Patrick Byrne, revealed that his company has put “millions of dollars” into Ravencoin. “We have people contributing to this open-source project. We think this coin actually has quite a future. It’s about – it’s bitcoin, but a thousand times more energy efficient. And there’s other real interesting virtues to it…,” he said.
  • Lack of marketing. Ravencoin is a new project and there’s still only limited information available about it online. The official website is very light on details, and the white paper is similarly brief, so do as much research as you can to find out what this coin has to offer.
  • Availability. As Ravencoin is only listed on one cryptocurrency exchange, this could hamper its credibility in the eyes of the general public. However, the fact that it’s designed for consumer-friendly mining could increase its appeal to those who are more familiar with cryptocurrencies.
  • Other ASIC-resistant coins. Other cryptocurrencies have attempted to combat the centralizing of mining caused by ASIC hardware, including Vertcoin, Ethereum and Monero. If you’re interested in mining RVN, you may also want to look into the possibility of mining other ASIC-resistant currencies.

Considering these and a range of other factors will help you make an informed decision about whether you should buy or mine RVN.

For more information about Ravencoin please join the Ravencoin community channel, a big shout out to Hardman for his amazing modding.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance 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 cryptocurrencies discussed.

At the time of writing, the author holds IOTA and XLM.

More guides on Finder

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

2 Responses

    Default Gravatar
    RVNScoutJanuary 28, 2019

    I purchased a limited edition RVN coin from their website. My thought would use it as cold storage some RVN I have purchased. I created a public and private key on walletgenerator.net. Do you know if I can use this for RVN, or is this for BTC only?

      Avatarfinder Customer Care
      johnbasanesJanuary 29, 2019Staff

      Hi RVNScout,

      Thank you for reaching out to finder.

      Though RVN is not yet a supported currency in walletgenerator.net, you may check other site that offer paper wallets for RVN like Github. Hope this helps!

      Cheers,
      Reggie

Go to site