Your guide to the Rise cryptocurrency (RISE) and how to buy it in the Philippines.
Rise (ticker name: RISE) is a delegated proof of stake cryptocurrency and decentralized application (dapp) platform. It is designed to provide developers, businesses, tech startups, investors and device users with a platform for dapps, smart contracts and side-chain/token asset creation.
To find out more about how the platform works and how you can buy RISE in the Philippines, keep reading.
Where to buy, sell and trade RISE
At the time of writing, RISE is scheduled to be delisted on Bittrex and CoinSpot on 9 February, 2018 due to the potential regulatory issues presented by airdrops.
Note that the delisting of RISE is not necessarily a reflection of the coin’s legitimacy or quality.
You can buy RISE on the following crypto exchanges:
How to buy RISE: A step-by-step guide
If you want to buy RISE, you can do so by following these three steps:
Step 1. Create an account on a cryptocurrency exchange that lists RISE
The first step is to find a crypto exchange that allows you to buy RISE and sign up for an account. You’ll need to provide your email address and create a password, while some exchanges will also require additional contact details and photo ID before you’ll be allowed to deposit any funds.
Don’t forget to enable two-factor authentication on your account to provide tighter security for your funds.
Step 2. Deposit funds
At the time of writing, it’s currently not possible to exchange Philippine peso (PHP) directly for RISE. This means you’ll need to either own or buy a cryptocurrency which is listed in a pairing with RISE, for example bitcoin(BTC), before you can exchange it for RISE.
To make a deposit, login to your account and click the “Deposit” link. Follow the instructions provided to generate a wallet address and then transfer your desired amount.
Step 3. Buy RISE
When the funds have cleared, search for the cryptocurrency pair you want to exchange, such as BTC/RISE, and click on “Buy RISE”. You can then choose a market or limit order and specify the amount of RISE you want to buy.
Be sure to review all the important details of your transaction, including any fees that apply, before finalising your purchase.
How to sell RISE
If you want to sell your RISE holdings, search for “RISE” on your chosen crypto exchange and look for the “Sell RISE” link. You can then more or less follow the same process as outlined in Step 3, but remember that the exchange won’t list every possible currency pairing, so you may not be able to directly exchange RISE for your desired currency.
Which wallets can I use to hold RISE?
To keep your funds safe, it’s recommended that you transfer your cryptocurrency holdings to a secure wallet rather than storing them on an exchange.
The official RISE wallet is available for download from the Rise website and is available for Windows, Mac and Linux operating systems. There’s also a web wallet that can be accessed through the same website.
How RISE works
Created in 2016, RISE is powered by a delegated proof-of-stake blockchain. This is a network of nodes maintained by 101 Delegates, who are voted for by RISE holders. The vote weight of each wallet is determined based on the amount of RISE it contains, while the Delegates that are elected earn rewards in RISE for running nodes.
The Rise development platform features software development kits, which are designed to allow the straightforward integration of Rise into apps running on Windows, Mac Linux and other operating systems. These kits support a range of popular code languages, including:
By providing user-friendly graphical user interfaces and drag-and-drop type building tools, Rise says it wants to make dapp and smart content creation accessible to everyone, not just skilled developers.
The RISE ICO was held in May and June of 2016 and saw 88 million coins distributed to ICO participants. 9 million coins were withheld by the development team and 2 million were reserved for post-ICO bounties as well as strategic partners and backers, with a further 1 million put towards pre-ICO bounties.
What to consider before you buy RISE
Cryptocurrencies are complicated and speculative, and it’s essential to be fully aware of all the risks involved with buying any type of crypto. With this in mind, make sure you consider the following factors before purchasing RISE:
- Supply. According to CoinMarketCap, at the time of writing (02/02/18) the circulating supply of RISE was 113,139,200 and the coin’s market cap was US$49,089,062.
- Roadmap. If you want details and information about future technological developments and upgrades in the pipeline for Rise, check out the company’s Roadmap. You can also find plenty of information on the official Rise Community Forum.
- Contests and bounties. You can also acquire RISE coins through a variety of bounties and contests. You can find the latest opportunities on the Rise forum.
- Voting. RISE holders have the power to elect Delegates, with voting power based on the proportion of RISE you hold in your wallet. If you vote for a profit-sharing Delegate, you can earn a portion of that Delegate’s RISE rewards.
- Network fees. Rise Delegates receive a network fee for processing transactions in the network. These fees are:
- 0.1 RISE of amount sent for a spend transaction
- 5 RISE for registering a second passphrase
- 5 RISE for registering a username
- 2500 RISE for registering as a delegate
- 1 RISE to add a contact
- 500 RISE to register a dapp
- 5 RISE per member for registering a multi-signature group.
- Blockchain incubator service. Rise also assists decentralized startups through its blockchain incubator service, and RISE holders also receive a share of tokens issued for new blockchain projects developed through the incubator service. RISE holders receive 30% of the new tokens issued for a blockchain project, and the tokens are distributed based on a snapshot of all RISE wallets. The initial snapshot for the first incubator project, Interlet, took place in January 2018.
- Market competition. Rise isn’t the only blockchain application platform competing for market share, so you’ll need to consider the competition it will face from other providers such as Lisk and ARK. This will be one very important factor that helps determine the demand for the Rise platform, and therefore the value of the RISE cryptocurrency.