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How to buy Rocket Pool (RPL) in the US
Learn how to buy Rocket Pool (RPL) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
Where to buy Rocket Pool
It looks like RPL may not be available to purchase on an exchange in the US.
You can still purchase RPL by using a decentralized exchange (DEX) instead. Decentralized exchanges are web applications that run on blockchains like Ethereum and allow users to trade any asset directly with one another.
Decentralized exchanges (DEX) are unregulated and run using autonomous pieces of code known as smart contracts. To use a DEX you must interact with the blockchain directly, which is not recommended for novice users. Please learn about decentralized exchanges first if you're unfamiliar.
How to purchase RPL using a decentralized exchange.
- Find RPL on a decentralized exchange and make sure Rocket Pool can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
- Buy ETH to trade for RPL using an exchange like Gemini. You will need to purchase enough ETH to swap for RPL as well as ETH to pay for transaction fees on the Ethereum network (known as gas). You can use a service like Etherscan to get an idea of how much gas fees currently cost.
- Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
- Trade ETH for RPL on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
- Wait for the transaction to finalize and the RPL tokens will arrive in your wallet.
- You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet.
You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in the US.
What to consider when buying Rocket PoolBefore investing in any cryptocurrency, an assessment of the token and its associated platform should be completed:
- Competition. The biggest factor in RPL’s price going forward will be how popular the platform becomes. As the DeFi ecosystem has expanded, so too have staking solutions for ETH 2.0. Applications continue to pop up that allow users to delegate their crypto assets in exchange for rewards, and Rocket Pool will need to acquire majority market share over many of these if it is to become a less speculative investment.
- Staking. Given the relatively streamlined use case of the RPL token, users will have to consider whether they wish to stake their tokens and the associated risks. While staking can be a great way to earn interest on otherwise idle assets, there are a number of rules that, if broken, can result in tokens being "slashed" (lost).
- Governance. As a decentralised network, Rocket Pool’s governance is determined by the community, as opposed to a singular entity. However, as of July 2021, the DAO (decentralised autonomous organisation) is not yet functional and control of the platform’s development is currently in the hands of its creator.
How to sell Rocket Pool
You can cash out your RPL with the same exchange you bought it through:
- Sign in to the exchange you have RPL on.
If you store your Rocket Pool in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of RPL you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Rocket Pool.
Disclaimer: Cryptocurrencies, including Rocket Pool, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of RPL 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 Rocket Pool or any other cryptocurrency discussed.
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