How to buy and sell Ronin coins

To acquire the native cryptocurrency of the Ronin Network, choose a reputable exchange platform like Binance, Huobi Global, or Kraken, deposit funds, and place a buy order for Ronin coins.

Nov 20, 2024 at 01:57 pm

How to Buy Ronin Coins

Ronin coins are the native cryptocurrency of the Ronin Network, a sidechain developed by Sky Mavis for the Ethereum blockchain. Ronin is designed to facilitate fast and inexpensive transactions required for the popular play-to-earn game, Axie Infinity.

1. Choose an Exchange Platform

The first step to purchasing Ronin coins is to choose a reputable cryptocurrency exchange platform that supports Ronin transactions. Several exchanges, such as Binance, Huobi Global, and Kraken, offer trading pairs involving Ronin coins.

• Binance: Binance is one of the largest global cryptocurrency exchanges with high liquidity for Ronin coins. It provides various trading pairs, including RON/USDT and RON/BTC.
• Huobi Global: Huobi Global is another reputable exchange for Ronin coins, offering trading pairs like RON/USDT and RON/ETH.
• Kraken: Kraken is a veteran exchange known for its security and robust trading options. It allows RON/USDT trading pairs.

2. Create an Account and Verify Identity

Once you select an exchange, you need to create an account. Provide your personal information, email address, and phone number to register. To enhance security, most exchanges require identity verification, where you upload a government-issued ID and a selfie.

3. Deposit Funds into Your Exchange Account

You need to deposit funds into your exchange account before buying Ronin coins. You can deposit cryptocurrencies supported by the platform or transfer fiat currency via wire transfer or debit/credit card (fees may apply).

4. Place a Buy Order for Ronin Coins

After funding your account, search for the relevant trading pair (e.g., RON/USDT) on the exchange platform. Choose the "Buy" option and specify the amount of Ronin coins you wish to purchase. Select the type of order (usually market or limit) and submit your order.

5. Withdraw Ronin Coins to Your Wallet

Once your purchase order is executed, you can withdraw Ronin coins to your personal wallet. Select the "Withdraw" option, input the receiving wallet address, and specify the amount to withdraw. Double-check the information before confirming the transaction.

How to Sell Ronin Coins

1. Choose a Trading Pair

Identify the trading pair involving Ronin coins on your chosen exchange platform. For example, if you wish to sell your Ronin coins for USDT, find the RON/USDT trading pair.

2. Specify Order Type and Amount

Select the "Sell" option and enter the number of Ronin coins you want to sell. Choose the type of order (market or limit) based on your preferred execution method.

3. Review and Submit Order

Double-check the trading pair, order type, quantity, and price (if a limit order). Ensure all details are correct before submitting your sell order.

4. Monitor Order Execution

Once the order is placed, the exchange will match it with a suitable buyer. You can monitor your order status through the exchange's trading interface.

5. Withdraw Funds

When the sell order is completed, you can withdraw the proceeds by navigating to the "Withdraw" option on the exchange platform. Specify the receiving fiat or cryptocurrency account address and the withdrawal amount.