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How to Buy Raiden Network Token (RDN)

A Step-by-Step-Guide on how to buy Raiden Network Token (RDN)

Step 1 – Signup to CEX.io

You will first need to buy units of the bigger coins. Exchanges normally accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for any other Cryptocurrency. Follow the Link below for registration and getting your Ethereum (ETH) or Bitcoin (BTC).

Binance Signup
Step 2 – Transmit Your Bitcoin (BTC) or Ethereum (ETH) to an Exchange

Your Ethereum or Bitcoin has to be sent over to an Exchange now. Every exchange has a deposit form that is similar. Raiden Network Token (RDN) is obtainable on Binance, so we will use that as an illustration. Not sure on how to send Coinbase funds to an Exchange? (Follow this manual)

Make sure you've selected the right coin you would like to deposit.

BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, etcetera. If you are dealing with a decentralized exchange, such as Airswap or DDEX could be divergent (Follow our how-to).

Step 3 – Find Raiden Network Token (RDN)

As soon as your deposit has been confirmed, you'll instantly have access to your assets and you can initiate purchasing and trading. To invest in Raiden Network Token (RDN) on Binance, you'll want to go to the ”Exchange” tab and after that mouse click on “Basic”.

In order to locate Raiden Network Token (RDN), you'll need to insert the cointype (RDN) into the search-box, which is highlighted in the graphic. Make sure you have selected the correct pairing, we've highlighted this also. Click on “RDN/BTC” to go ahead.

{How to buy Coin on Binance 1|Binance How To Buy 1} Raiden Network Token (RDN)
Step 4 – Purchase Raiden Network Token (RDN)

After you've located Raiden Network Token (RDN), you will be given a Chart with Prices (in the Center of the image) and some Order Books (on the Left of the image). For now we're creating our Limit Order.

The ”Price” field will be automatically filled with the latest rate Raiden Network Token (RDN) was traded for. You can change this to your favoured rate. The ”Amount” field is the volumen of RDN you want to purchase. The ”Total” field is the aggregated price in Bitcoin that you will settle for the whole volumen of RDN.

When you're happy, make a mouse click on “Buy RDN”. Your order will be filled as soon as a Vender trades their RDN for the price you introduced.

Step 5 – Withdraw Raiden Network Token (RDN)

Unless you are regularly trading, never keep your crypto coins on an Crypto Exchange for an extended period of time. To take off your Raiden Network Token (RDN), go to the tab called “Funds” and mouse click on “Withdraw”. Raiden Network Token (RDN) can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Locate Raiden Network Token (RDN) by using the given drop-down box. Drop in the volumen of Raiden Network Token (RDN) you'd wish to take off. Take into account the displayed minimus/fees. Also make sure you have entered your correct withdraw address.

If you are satisfied, click “Submit”. You may be asked for verfication via phone/email ahead of a take off.

Congrats! You have successfully purchased and stored Raiden Network Token (RDN).

That's it!

Withdrawals from Crypto Exchange can take between 1 – 30 minutes (depending on usage of the network). Once you've confirmed your take off using Ethplorer.io or Etherscan.io and the Raiden Network Token (RDN) is stored in your wallet, you are done.

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