Where to Buy REN in the UK – Learn How To Buy REN Today in 2022
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Interoperability is a common issue that has troubled the blockchain space for some time now. And REN is one of the few networks that is tackling this problem head-on.
This key feature makes REN one of the most attractive digital assets of today. If you wish to buy REN in the UK, this guide offers you some insight into this cryptocurrency alongside a step-by-step walkthrough of how to invest in under five minutes.
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If you are considering how to buy REN in the UK, there are several critical decisions you will have to make. One of them is to decide which cryptocurrency platform you want to use.
For those who do not want to do their own research, below you will find the top ten crypto brokers that give you access to REN in the UK.
You can find full reviews for all these brokers as you scroll down this guide.
If you do not have sufficient time to read through this entire guide, here we explain the basics of what you need to know about how to buy REN in the UK.
Since eToro offers an in-built crypto wallet, there is no need for you to withdraw your REN tokens. Instead, you can leave the cryptocurrency in your portfolio and track its performance until you are ready to cash out.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
When learning how to buy REN in the UK, you should first decide which broker you want to use to make the investment, Your chosen cryptocurrency provider should not only support REN but also offer competitive fees and a secure investing environment.
Moreover, if you are a beginner, you might also want the platform to be simple to use, and accept your preferred payment method. Taking these factors into account, we have put together a list of well-established platforms in the cryptocurrency arena that you can use to buy REN in the UK.
eToro is a reputable online broker that supports a variety of assets, including popular cryptocurrencies like REN. Since its launch in 2007, the platform has grown to serve over 20 million users in different parts of the world. Most importantly, eToro is licensed by the FCA, which is a conduct regulator for financial services in the UK. In addition to this, eToro is also governed by the SEC in the US, ASIC in Australia, and CySEC in Cyprus.
This makes eToro a highly secure platform to pick for your investments. If you choose this broker to buy REN in the UK, you will be able to make the purchase on a spread-only basis. Moreover, the initial deposit amount required is only $10, which is about £7. In other words, if you are on a small budget, eToro makes it easy for you to gain exposure to the cryptocurrency market with a nominal sum.
Another notable advantage of using eToro is that the platform integrates a secure in-built wallet. Meaning, you do not have to look for another private storage provider to hold your REN tokens for the long term. Instead, you can simply leave the REN tokens with eToro, and sell your investment directly from your account. Moreover, the broker also offers a demo feature, which you can use to practice trading – a feature that would be appealing for crypto newbies.
eToro also comes with passive tools that appeal to traders of different styles. For instance, if you do not want to do any research to diversify your investments, you can choose one of the pre-built Smart Portfolios of eToro. These are essentially curated collections of different securities belonging to multiple industries. This allows you to attain exposure in the cryptocurrency market or other sectors such as tech stocks, or EV battery stocks in one go.
You can also choose to follow a seasoned trader, and have their trades repeated in your account using the Copy Trading feature. Apart from cryptocurrencies, eToro also allows you to buy and sell stocks, ETFs, indices, commodities, and forex. Lastly, if you take a look at the fee-policy of eToro, the spread for cryptocurrencies starts from just 0.75%. Moreover, funding your account will cost you only 0.5%, regardless of the payment method you choose. The platform also offers a long array of educational resources and a user-friendly app to make trading more accessible.
Pros
Cons
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
OKEx is a cryptocurrency exchange that is particularly popular among traders, mainly because it gives you access to over 400 different trading pairs. However, if you want to buy REN in the UK via OKEx, you will not be able to pay for the digital coins with GBP directly. Instead, you will have to purchase the stablecoin USDT and then exchange it for REN tokens. For this, the platform charges highly competitive fees, at 0.1% per slide.
If you want to keep REN on the OKEx platform, you can also earn interest on your tokens. At the time of writing, OKEx offers a whopping 36.5% return on its REN savings account. And the best thing is, there is no need to lock your REN tokens. Since there is a flexible plan available, you can withdraw your REN coins any time you want. On the other hand, OKEx does support a direct buy feature for several other cryptocurrencies, including Bitcoin, Ethereum, Chainlink, and more – but these come with additional fees.
Pros
Cons
at eToro, the UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection
Binance is a well-reputed cryptocurrency exchange, not only in the UK but on a global level. In fact, Binance is perhaps the best place for those keen to construct a diversified portfolio of digital assets. The platform supports hundreds of trading pairs and an advanced interface for seasoned traders. If you are looking to pay for REN tokens using fiat money, Binance also facilitates that using its Instant Buy feature.
You can buy REN in the UK using your debit/credit card on this platform, however, you should expect an additional fee of 10% – as you need to go through a third party. The minimum amount required for such direct purchases is £15. If you want to lower the fee, you can also try exchanging another cryptocurrency such as USDT, or BTC for REN tokens. In this case, you will only be charged 0.1%.
Pros
Cons
at eToro, the UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider
If you want to engage with a short-term trading strategy, Capital.com allows you to access REN tokens via CFDs. These are financial instruments that represent the value of REN. In other words, you will not be purchasing the underlying asset. And as such, in the UK, only those classified as professional traders can trade cryptocurrency CFDs. Hence, if you are a retail client, Capital.com might not be a suitable platform to access REN in the UK.
As a CFD broker, Capital.com is regulated by the FCA, and also holds licenses from the ASIC, CySEC, and NBRB. Moreover, it allows professionals to gain access to REN via CFDs on a commission-free basis. On top of that, the platform also supports thousands of different CFD markets, including stocks, indices, forex, and commodities. The minimum amount required to start trading via this provider is only £20 when using an e-wallet or debit/credit card, while bank transfers require at least £250.
Pros
Cons
at eToro, the UK’s #1 Broker
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.25% of retail investor accounts lose money when trading spread bets and/or CFDs with this provider
Kraken is another reliable cryptocurrency exchange that you can use to buy REN in the UK. It has a diverse portfolio of digital assets and derivatives, and also supports margin trading. The platform integrates a number of tools to help you make the right trading decisions, such as Kraken Terminal and Cryptowatch. Moreover, Kraken is known for making security its top priority and has incorporated several mechanisms such as 24/7 surveillance, penetration testing, and 2FA.
When it comes to its fee policy, Kraken charges 0.26% per slide for cryptocurrencies like REN, and 0.9% for stablecoins. However, additional charges will also apply based on how you finance your purchase. For instance, an instant payment method such as a debit/credit card can cost you 3.75% and requires you to upgrade your account to a Pro or Intermediate level. On the other hand, bank transfers cost 0.5%, but this involves a waiting period of up to 5 days for the transaction to process.
Pros
Cons
at eToro, the UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
BitYard is a cryptocurrency platform that gives you access to digital assets via spot trading. However, there is no option to directly buy REN in the UK via this exchange. Although BitYard does facilitate instant purchases, this feature is currently not supported for REN. As such, to get your hands on REN tokens, you will first have to convert fiat currency into USDT and then swap the tokens for REN.
In terms of fees, BitYard follows a maker-taker structure for spot trading. If exchanging USDT for REN, you will have to pay a commission of between 0.1 – 0.3% based on your 30-day trading volume. In addition to this, you can also use this platform to trade futures and perpetuals, which are complex instruments. BitYard also offers a Copy Trading tool, which can be beneficial for those looking to gain exposure to cryptocurrencies passively.
Pros
Cons
at eToro, the UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 68% of retail investor accounts lose money when trading CFDs with this provider.
Coinbase is an intuitive, beginner-friendly platform that gives you easy access to the cryptocurrency markets. You can also hold your digital assets in the Coinbase wallet after purchase. The exchange allows you to buy REN in the UK using multiple payment methods – including, debit/credit card, bank transfers, SWIFT, and PayPal. However, depending on how you fund your investment, fees will vary.
For instance, if you are purchasing REN using your debit or credit card, you will be charged a 3.99% fee. On the other hand, those funding via a bank account transfer needs to pay 1.49% via a standard commission. Although this might be a tad pricey, Coinbase also offers a regulated environment, as it is licensed by the FCA as an e-money service. In addition to this, the platform also has tutorials and articles that enable beginners to learn more about cryptocurrency investments.
Furthermore, Coinbase Pro is also available to experienced traders who want to use the advanced charting tools offered.
Pros
Cons
at eToro, the UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider.
The next platform we put forward for your consideration is Gate.io, a global exchange that supports over 1,000 cryptocurrencies. In fact, Gate.io is a full-fledged gateway that gives you access to a wide variety of crypto-related services, ranging from investments, short-term trading, liquidity mining, market news, NFT offerings, and more.
While the platform supports direct purchases of cryptocurrencies, unfortunately, you cannot buy REN in the UK in this manner. However, you can swap USDT, or ETH to acquire REN tokens via this exchange. Needless to say, this can make things a bit complicated for beginners. The fees charged by Gate.io are variable, based on your 30-day trading volume and your status as a maker or taker.
Pros
Cons
at eToro, the UK’s #1 Broker
68% of retail investor accounts lose money when trading CFDs with this provider.
Crypto.com is a Hong-Kong based cryptocurrency platform that caters to over 10 million users across the world. The exchange also gives you access to over 250 digital assets, which includes REN and several other DeFi tokens. If you are looking to trade REN tokens in the short term, then Crypto.com offers a sophisticated interface that incorporates charts, indicators, and order books.
On the other hand, those who want to buy REN in the UK using fiat currency will have to download the platform’s app to their phone. Once you do that, you can fund your investment using a debit/credit card, which will cost you a fee of 2.99%. You can reduce these charges by owning CRO, the native digital token of Crypto.com. Moreover, the provider also comes with a non-custodial wallet for you to store DeFi tokens such as REN.
Pros
Cons
at eToro, #1 Broker in the UK
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Gemini is another cryptocurrency exchange that caters to both beginners and advanced traders alike. If you want to buy REN in the UK via this platform, it allows you to do so using a debit/credit card deposit, but this will come at an additional cost of 3.49% in fees. If you are trading this digital asset for another token, then the standard commission of 1.49% will apply.
Despite being expensive, Gemini continues to be a popular option among cryptocurrency investors. One reason for this is that Gemini integrates additional services, such as digital wallets, crypto credit cards, and staking. On top of this, the provider also holds credentials from the FCA to function as an e-money institution. Additionally, Gemini also offers an advanced trading platform, ActiveTrader, which will suit seasoned traders.
Pros
Cons
at eToro, #1 Broker in the UK
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 68% of retail investor accounts lose money when trading CFDs with this provider.
If you are somewhat new to the cryptocurrency investment arena, then you might be looking for a detailed step-by-step breakdown of how to buy REN in the UK. In the sections below, we explain how to purchase REN coins from start to finish via eToro – an FCA-regulated broker that offers industry-leading fees.
Opening a brokerage account is no longer complicated or cumbersome. The first thing to do is visit the eToro website. Click on the ‘Join Now’ button to reveal the signup box.
As you can see from the image above, registering as a user requires you to provide some basic details, such as your full name, and contact information.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Since eToro is an FCA-regulated broker, you will have to verify your identity to gain unrestricted access to the platform. Fortunately, the process is quite simple.
You simply need to upload a copy of your government-issued ID to complete this step. For those in the UK, this can be a valid passport or driver’s license. You will also have to submit proof of residency, such as a utility bill or bank account statement.
As per eToro’s requirements, you will need to make a deposit of $10 or more to start using the brokerage platform – which is about £7.
You can fund your account to buy REN in the UK using the following payment methods:
As you can see, your options are plentiful. Among these, credit/debit cards and e-wallets process payments instantly, whereas if you choose a bank transfer, you will need to wait a few days for the funds to appear.
The easiest way to find REN on eToro is to use the search bar. You can enter the name of the cryptocurrency and eToro will instantly show you the correct result for REN.
Choose ‘REN’ by clicking on the ‘Trade’ button. You can also buy REN in the UK by navigating to the ‘Discover’ section and tapping on ‘Crypto’.
To buy REN in the UK, you will need to place an order. This essentially means that you are telling eToro how much you want to risk on this digital asset.
When you know how much you want to stake, you can enter the amount in the order box. eToro requires a minimum of $10 (approximately £7) to open a position. Finally, you can click on ‘Open Trade’ and eToro will add the REN tokens you bought to your portfolio.
The popularity of REN is growing day by day. And as such, it only makes sense that many cryptocurrency platforms support this asset. However, not every provider is the same.
In fact, when looking to buy REN in the UK, you will come across two types of platforms – which we explain in the section below.
If you are looking for a safe and secure platform to buy REN in the UK, you will want to choose a regulated online broker. By this, we mean a provider that is licensed and authorized by the FCA. This will allow you to make investments into cryptocurrencies directly using pounds and pence in a seamless manner.
For instance, if you take the case of eToro, a heavily regulated online broker, you will find support for multiple payment methods. Moreover, this provider also gives you access to other markets such as stocks, metals, forex, and agricultural products, which can be beneficial for those looking to diversify.
The main difference is that, when using such platforms, you will have to go through a KYC process – which means you will not be able to trade anonymously.
If you decide to buy REN in the UK via a cryptocurrency exchange, you won’t be short of options. There are dozens of platforms that support this digital asset. That said, in the vast majority of cases, the chances are that these providers are operating without a regulatory license.
Regulated platforms are accountable and transparent in their transactions, which is something you can’t expect from an unlicensed cryptocurrency exchange. As such, buying REN through such providers can elevate the risk of your investment. This is why we recommend a broker like eToro – which is governed by multiple financial authorities – including the FCA.
If you want to know how to buy REN in the UK, here is a list of payment methods that are accepted by top-rated cryptocurrency platforms.
Debit cards are perhaps the most convenient way for you to buy REN in the UK. Most brokers support both Visa and MasterCard for this purpose, and some platforms like eToro also accept funding via Maestro. However, depending on your chosen provider, this mode of payment can come with high fees.
For instance, most crypto platforms charge between 3 to 5% for processing debit/credit card settlements. On eToro, however, you only have to pay 0.5%.
Some people prefer to use a credit card to buy REN in the UK. This is also an easy way to enter the cryptocurrency space in a hassle-free manner. However, bear in mind that some credit card companies charge a cash advance fee when transferring funds to brokerage platforms.
So, you ought to check this before you proceed with this payment option.
A handful of cryptocurrency platforms – including eToro, also supports e-wallets such as PayPal, which is no surprise considering that digital payments are becoming increasingly common these days. eToro also accepts payments via Neteller and Skrill and charges you only 0.5% for using these funding methods.
As we have mentioned above, some cryptocurrency exchanges do not allow you to buy REN in the UK directly with fiat currency. Therefore, you will have to use another digital asset such as Bitcoin, or a stablecoin like USDT to purchase REN.
To do so, you can deposit your crypto tokens into your chosen exchange and then proceed with the swap.
When thinking about how to buy REN in the UK, you should first analyze the fundamentals of this digital coin. This can give you an idea about the cryptocurrency’s future prospects and whether or not it is wise investing your money in this project.
In this section of our guide, we discuss some of the main reasons why you might consider REN for your portfolio.
Before deciding to buy REN in the UK, you should also have a grasp of what the project intends to achieve. REN provides an effective solution to the interoperability issue of the cryptocurrency industry, making it possible to transfer digital assets between competing blockchains in a trustless manner.
Let us break this down:
To unlock the funds, you can use the REN coin, the main utility token of the network.
When it comes to rivals in this market, REN’s main competitor is Wrapped Bitcoin (WTBC), which aims to solve the same issue of interoperability. However, REN has proved itself to be more efficient and secure. For instance, unlike the Wrapped Bitcoin network, REN stores digital asset information in a decentralized manner.
Moreover, REN does not require you to go through any KYC process to create assets like RENBTC, the equivalent of Bitcoin. On the other hand, to get WBTC, you will have to undergo an intrusive identity check that essentially functions as a gatekeeper.
This can turn away those who are looking to exchange digital tokens in an anonymous manner. Given these factors, it is likely that REN can emerge as the better option between the two projects in the long run, which is a good indicator for those who wish to invest.
REN is well-positioned in the market, as it can add more liquidity to decentralized exchanges. Furthermore, there is only a fixed supply of 1 billion REN tokens. This means that, over time, as the adoption of REN increases, so will the demand for this digital asset. Needless to say, this can also drive up the price of the REN in the open marketplace.
In addition to this, with a low market price of $0.31 at the time of writing, REN could be a great investment for beginners looking to gain exposure to the crypto sector without risking large amounts.
As you can imagine, cryptocurrency brokers and exchanges are ultimately businesses looking to make money. And they do this by charging you an assortment of fees and commissions. That said, the price structure will differ from one platform to another, based on the specific services they are providing.
Below you will find an overview of what fees you should expect when you buy REN in the UK.
When buying REN in the UK, you should check if there is a deposit fee involved when processing your payment. For instance, Coinbase charges you 3.99% for financing your cryptocurrency investments via a debit card. Gemini, on the other hand, sets a fee of 3.49% on this payment method.
In comparison, eToro levies only a forex rate of 0.5% for depositing British pounds, since the broker primarily operates in US dollars.
If you are looking to buy REN in the UK directly using British pounds, then you should expect to be charged a transaction fee. It is not uncommon for platforms to charge you as much as 5% when making payments via debit/credit cards. You can get this down to 0.5% when using eToro.
Depending on your chosen platform, you might also have to pay commission when you buy REN in the UK.
As you can see, commissions can vary widely between two brokers.
If you are learning how to buy REN in the UK, it is likely because you want to capital gains on your investment. Put otherwise, you will have to sell your REN tokens at some point to realize a profit.
The process of doing so might slightly vary depending on your chosen platform.
For instance:
As you can clearly see, the latter can be a strenuous process, particularly if you are a beginner. This is why we suggest eToro as the most suitable platform – since you can buy and sell REN easily without any complications.
In summary, the best way to buy REN in the UK would be to choose a platform that matches your preferences, after considering factors such as fees, features, and user-friendliness. However, it is never a good idea to compromise on the safety of your funds when making an investment.
Therefore, we suggest that you stick to an FCA-regulated cryptocurrency broker like eToro. Not only does eToro support direct purchases of REN using British pounds, but you can also access other securities to build a diversified portfolio.
Moreover, you only have to pay the spread, and a highly competitive deposit fee of 0.5% when buying REN using this platform.