Table of Contents
1. Choose a crypto exchange
First things first, you need an exchange that both has Raydium, and is trustworthy!
You can find our top 3 exchanges for buying Raydium here, alternatively you can also check our comparison of the best cryptocurrency exchanges in Australia if you’re generally interested in seeing which exchanges work for Australians.
2. Sign up with the crypto exchange
Once you’ve chosen your crypto exchange, it’s just a matter of signing up and getting your account verified. Most exchanges have streamlined this process very well so it shouldn’t take long.
3. Fund your account
The next step is to transfer AUD or another cryptocurrency into your account. Most top crypto exchanges offer various payment methods. From bank transfer to PayID, POLi pay and credit cards, it’s very straightforward.
4. Buy Raydium
And of course, the final step is to find Raydium on the exchange and buy it. A lot of exchanges offer different ways of buying cryptocurrencies, like market orders and limit orders.
Where to Buy Raydium (RAY)
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How to Sell Raydium
- Sign into the exchange
- Find where you stored your Raydium, either on a hardware wallet or on the exchange.
- Transfer your Raydium to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
- Sell Raydium.
Considerations when looking to buy Raydium.
Raydium is an AMM (automated marketplace maker) that's decentralized on the Solana blockchain. To run its swap system, it draws directly from Serum's order book (the largest DEX in Solana).
An AMM built on Solana has the main advantages of speed and affordability. Raydium also interacts directly with Solana ecosystem, and with Serum to increase liquidity.
DeFi's popularity is a sign of growing interest in DEXs that operate the AMM model. Investors are increasingly interested in DEXs like Maker, Compound and Uniswap. Raydium, despite being launched in February 2021 has already gained considerable popularity.
Raydium's native utility token is RAY. The initial supply of RAY was limited to 555 million tokens. It was launched on February 21, 2021. 20% of total supply was reserved for the development team. They can be locked up for three years to prevent developers from selling them. Only one-third of the total supply of RAY tokens (188 millions) can be mined. Block rewards will be reduced by half every six months. Stakers will also receive 0.03% of transaction fees earned on the platform.
RAY token holders can generate interest and participate (albeit in a limited manner) in the governance and administration of the protocol. RAY holders earn interest via staking (0.03% of trading fee).
RAY allows you to vote on proposed amendments and proposals for the community. RAY token holders can vote on issues submitted to the community. The voting power a user has will depend on how much RAY they own.
Raydium offers a number of unique benefits to the DeFi industry. Raydium leverages a central ordering book, which makes it easier for traders to use on platforms such as Binance and Coinbase. Users can earn passive rewards through the network in a variety of ways, including farming and stake options.
Raydium is far ahead of the rest in terms of scaling. Because of its linear scaling, the developers chose to use the Solana Blockchain. The network can process 65,000 transactions per second. It also has 400ms block times. Ethereum, on the other hand, can only handle 15 tps at a block time 13 seconds.
Raydium is a centralized exchange that was designed from the ground up, but offers all the advantages of DEXs. You can use the interface to view powerful trading charts, real-time data and to help you manage your assets better. The platform's features are clearly visible, which makes it easier for new users to navigate the platform more efficiently. You will find familiar features such as limit orders which are normally only available to CEXs.
Raydium, the first AMM within the Solana ecosystem plays an important role in helping new projects achieve liquidity. This protocol aims to fulfill the same function as Uniswap for Ethereum, enabling new projects in open and transparent ways to raise funds.