What Is Ravencoin?

Dec 23, 2022
4 min read

This blog post will cover:

  • About Ravencoin (RVN)
  • Where did Ravencoin (RVN) come from?
  • What are the advantages of Ravencoin (RVN)?
  • What are the disadvantages of Ravencoin (RVN)?
  • How to buy Ravencoin (RVN) on SimpleSwap?

About Ravencoin (RVN)

Ravencoin is a digital peer-to-peer network which main and only task is to transfer assets from one user to another. The cryptocurrency was launched on the basis of a Bitcoin fork. But its creators have thoroughly worked on the technical characteristics, so Ravencoin is very different from the source.The Ravencoin (RVN) cryptocurrency was created under the influence of "Game of Thrones". In a popular fantasy series, ravens serve as messengers in the Seven Kingdoms.

Where did Ravencoin (RVN) come from?

Ravencoin appeared in trading lists of cryptocurrency exchanges at the beginning of 2018. Initially, the cost of the RVN coin reached an indicator of 3 cents. More than 400 specialists involved in the development of Bitcoin participated in the creation of the project. There is no established team. This is an open-source project led by the main developers: RavencoinDev, Tron, Bruce Fenton (a board member of the Bitcoin Foundation who advises the team).

The Ravencoin works within the network and is used to pay bonuses to miners. A person can store it on the phone or PC using a Ravencoin wallet, buy it on cryptocurrency exchanges, or exchange it for other cryptocurrencies. Transactions are carried out quickly and without the involvement of intermediaries, which is what the improved technology of the Ravencoin blockchain consists of. Despite the youth of RVN, the cryptocurrency is in high demand among miners. The reason for that is a special mining algorithm. Mining Ravencoin allows you to abandon the monopoly of ASIC.

What are the advantages of Ravencoin (RVN)?

  • The ability to issue and transfer an electronic coin with high confidentiality and high decentralization.
  • The data transfer rate is 10 times higher than in Bitcoin
    That is why network support requires less electricity than Bitcoin and other cryptocurrencies.
  • The support from the largest cryptocurrency exchanges
    Which is the indirect evidence of the coin prospects. It also says about the presence of interest in it from the Crypto community.

What are the disadvantages of Ravencoin (RVN)?

  • A large issue volume of 21 billion coins
    Which in the future will inevitably lead to inflationary processes and depreciation of the coin.
  • Competition
    There is a serious competition in the Cryptocurrency Market.

How to buy Ravencoin (RVN) on SimpleSwap?

Thank you for your interest in this cryptocurrency. If you want to buy Ravencoin, you need to follow the simple instructions provided below:

  • For example, you want to swap BTC for RVN. Select the currency you want to exchange (e.g. BTC) in the first drop-downlist. Then enter the amount you want to swap.
  • Select RVN in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
  • Click the Exchange button.
  • Enter the Recipient's Address. RVN will be sent. Be careful and make sure you use the correct address.
  • Create the exchange.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to RVN exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

Don’t miss our new articles!


Share on:

Start your crypto journey with SimpleLearn lessons!

Download the App

Related Articles