How to buy Refereum (RFR) in Australia
Learn how to buy Refereum (RFR) on 5+ crypto exchanges in our step-by-step guide.
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You can buy Refereum (RFR) on a cryptocurrency exchange like Gate.io. These specialised marketplaces that allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. Refereum is the first referral-based blockchain marketplace built for the gaming industry. Here's how to buy Refereum.
How to buy Refereum in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
- Compare crypto exchangesThe easiest way to buy Refereum is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
- Create an account To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
- Make a depositOnce verified, you can deposit $ using the payment method that best suits you – cryptocurrency, bank transfer, neteller and skrill payments are widely accepted.
- Buy Refereum You can now exchange your funds for Refereum. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your Refereum to your personal wallet.
Where to buy Refereum in Australia
Find an exchange to buy, sell and trade RFR by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy Refereum?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Australia to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Refereum?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Refereum.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing RFR with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
Where can I buy Refereum with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy RFR with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy RFR on the following exchanges:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase RFR by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for RFR on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Refereum?
The easiest way to buy RFR is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying RFR, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of Refereum has been performing recently.
Best Refereum wallets to store your RFR
You can keep your RFR on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Is Refereum a good investment?Despite the gaming industry having huge opportunities for growth in the coming years, there are always risks attached to the projects, especially when combined with blockchain and cryptocurrencies. Here are a few key aspects you need to be mindful of before investing your funds in RFR:
- Huge gaming industry: According to a report by Mordor Intelligence, the size of the global gaming industry is over $174 billion and is forecasted to reach $314.4 billion by 2026, putting the Compound Annual Growth Rate (CAGR) at 9.64%. This could mean that gaming tokens like RFR could take off in a big way along with the growth of the industry, especially with the integration of blockchain technology.
- Metamask integration: The platform allows users to buy games using the native token directly through the browser. This is enabled through its integration with the widely used MetaMask Chrome plugin that makes the process quick, seamless and convenient. You can also sign your own blockchain transaction and execute the TransferToIcap() function on the platform’s smart contract to make the purchase.
- Token utility: The token has a threefold utility. In addition to the governance function that the token serves for the platform, it can also be used to buy games on the platform. Finally, game developers can use tokens as payment to get their games featured and sponsor further user engagement on the platform.
- Role of influencers: Since the main unique proposition that the platform brings is incentivising referrals, influencers play an important role in this ecosystem. They can use the platform to suggest relevant games for their fans and, in turn, earn rewards for the same, while the fans get access to cheaper games. This makes a win-win situation for all parties involved.
Additional information about Refereum can be found using our RFR analysis tools.
Today's Refereum price versus ATH
Compare today's price of Refereum ($0.00603028 USD) against its all-time-high price of $2020-10-05T07:12:07.201Z USD on 01 January 1970. The closer the bar is to 100%, the closer RFR is to reaching its ATH again.
ATH date: October 05, 2020
Refereum ATH: $0.050964 USD
How to trade, convert or sell RefereumYou can convert or sell your RFR with the same exchange you bought it through:
- Sign in to the exchange you have RFR on.
- If you store your Refereum in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of RFR you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Refereum.
- Complete your transaction and move your RFR to a wallet for storage.
Disclaimer: Cryptocurrencies, including Refereum, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of RFR 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 Refereum or any other cryptocurrency discussed.
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