How to buy THORChain(RUNE) coins

To acquire RUNE coins, select a crypto exchange that supports RUNE trading, then register and verify your identity to commence the purchase process.

Dec 07, 2024 at 12:58 pm

How to buy THORChain (RUNE) Coins: A Comprehensive Guide

THORChain is a decentralized liquidity protocol that enables users to trade various cryptocurrencies across different blockchains. Its native token, RUNE, serves as the backbone of the network, facilitating transactions, incentivizing node operators, and securing the protocol. If you're looking to add RUNE coins to your crypto portfolio, follow these steps:

Step 1: Choose a Crypto Exchange

Select a reputable crypto exchange that supports RUNE trading. Some popular options include:

• Binance
• KuCoin
• Huobi Global
• Gate.io
• Crypto.com

Each exchange offers varying trading fees, deposit and withdrawal options, and security measures. Consider these factors when selecting an exchange.

Step 2: Create an Account and Verify Your Identity

Register with the chosen exchange by providing your personal information and creating a password. Follow the exchange's verification process, which usually involves submitting an identity document for KYC/AML compliance.

Step 3: Fund Your Exchange Account

Most exchanges allow you to fund your account using fiat currencies (e.g., USD, EUR) or stablecoins (e.g., USDT, BUSD). Choose your preferred funding method, follow the instructions provided by the exchange, and deposit the necessary funds.

Step 4: Place a Market or Limit Order

Navigate to the RUNE trading page on the exchange. Choose a market order to buy RUNE at the prevailing market price or a limit order to specify the price at which you wish to buy. Enter the number of RUNE coins you want to purchase and confirm the order.

Step 5: Store Your RUNE Coins

Once the trade is executed, the RUNE coins will be credited to your exchange account. If you intend to hold your coins for the long term, consider transferring them to a secure hardware wallet for enhanced security.

Alternative Methods to Buy RUNE Coins:

Step 6: Use a Decentralized Exchange (DEX)

THORChain also operates its decentralized exchange, THORSwap, where users can swap various cryptocurrencies directly from their wallets. Connect your wallet to THORSwap, select the desired trading pair, and execute the trade.

Step 7: Purchase from a Peer-to-Peer (P2P) Marketplace

P2P marketplaces like Binance P2P connect buyers and sellers directly. Find a reputable seller who accepts your preferred payment method, negotiate the price, and complete the transaction.

Step 8: Mine RUNE Coins

You can earn RUNE coins by participating in the THORChain network as a THORNode operator. Running a THORNode requires technical expertise, hardware resources, and a minimum of 1 million RUNE staked as collateral.