How to buy RMRK (RMRK) in Australia
Learn how to buy RMRK (RMRK) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
How to buy RMRK
1. Compare crypto exchanges
The easiest way to buy RMRK 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.
2. 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.
3. Make a deposit
Once verified, you can deposit $ using the payment method that best suits you – cryptocurrency, paypal, wire transfer and credit or debit card payments are widely accepted.
4. Buy RMRK
You can now exchange your funds for RMRK. On easier-to-use exchanges, this is as easy as entering the amount you want to purchase and clicking buy. If you like you can now withdraw your RMRK to your personal wallet.
Where to buy RMRK in Australia
Find an exchange to buy, sell and trade RMRK by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Steps on how to buy RMRK
Look for an exchange that supports both fiat and cryptocurrency to simplify buying RMRK.
- Compare cryptocurrency exchanges that support RMRK.
Cryptocurrency exchanges differ by fees, security and payment methods, so you'll need to research which is the right fit for you. As a beginner, you don't need a big range of features, and you can always change exchanges later.
- Create an account on an exchange.
You can sign up for an account by selecting the Go to site button. This will take you to the account creation page, where you can fill in your details, starting with your name and email address..
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy RMRK.
- Buy RMRK.
Complete your RMRK purchase and then find the best wallet to store RMRK.
What to consider when buying RMRK
It is good practice to review all aspects of a cryptocurrency and the associated platform before investing. Here are a few things to consider before purchasing RMRK:
- Multi-resource NFTs: The protocol allows NFTs to have varying displayed media that is dependent upon certain rules and context. For example, an ebook NFT can have a PDF, cover photo, and audio file instead of just one resource. The NFT has been a dominating sector throughout much of 2020 and 2021. By adding increased functionality to NFTs, RMRK may attract the eye of future NFT developers.
- Multi-chain: The protocol is multi-chain since it is built on Kusama, a layer-0 network designed to host multiple blockchains. All blockchains hosted within the wider Kusama ecosystem will be able to interact with RMRK NFTs and the functionality they offer.
- Future scalability: Kusama can handle up to 1000 transactions per second (tps), which is roughly 66x faster than Ethereum. By developing RMRK on Kusama, the protocol should be able to handle the workload if the protocol becomes widely used. As the canary network to Polkadot, RMRK has the potential to migrate onto a Polkadot parachain in the future.
- Competitors: The protocol’s closest competitor is Unique Network, which also aims to build the next generation of NFTs on Kusama and Polkadot. RMRK may also need to compete with NFT standards for other chains, such as Metaplex for Solana, EIP-721 and ERC-1155 for Ethereum. The next generation of NFTs will likely be powered by the platforms that bring the most versatile and innovative functionalities.
How to sell RMRK
You can cash out your RMRK with the same exchange you bought it through:
- Sign in to the exchange you have RMRK on.
If you store your RMRK in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of RMRK you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of RMRK.
Disclaimer: Cryptocurrencies, including RMRK, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of RMRK 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 RMRK or any other cryptocurrency discussed.
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