Table of Contents
1. Choose a crypto exchange
First things first, you need an exchange that both has Reef Finance, and is trustworthy!
You can find our top 3 exchanges for buying Reef Finance here, alternatively you can also check our comparison of the best crypto 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 Reef Finance
And of course, the final step is to find Reef Finance 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 Reef Finance (REEF)
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How to Sell Reef Finance
- Sign into the exchange
- Find where you stored your Reef Finance, either on a hardware wallet or on the exchange.
- Transfer your Reef Finance to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
- Sell Reef Finance.
Considerations when looking to buy Reef Finance.
Reef is a reliable, efficient fast layer-1 blockchain for gaming, NFT and DeFi. It is built using Substrate Framework and allows for high scalability. This allows almost instant low-cost transactions. Solidity and EVM support allow developers to seamlessly migrate DApps from Ethereum.
Reef Chain is an EVM-compatible, advanced blockchain. It is self-upgradable, and it has on-chain governance. Its infrastructure allows for EVM extensions, which allow for native token bridge and scheduled calls (ie. recurring payments, and smart contract in place code upgrades. It will soon support additional VMs, which will allow developers the ability to code in multiple programming languages. It runs on a Nominated proof-of-Stake consensus mechanism (NPoS), which allows for scalability as well as low fees.
REEF is the native symbol that is used to:
- Processing fees and storage charges
- By staking REEF tokens, you can run validator nodes.
- The network should include a way to nominate validator nodes.
Reef is backed and managed by a number of top venture capitalists and funds, including NGC and QCP, Bitcoin.com and LD Capital. TRG Capital, Kenetic Capital and TRG Capital. Krypital Group, Genesis Block and Woodstock Fund.
Reef Chain development tools include:
- Remix and EVM integrated environments for developing smart contracts.
- Reefscan Blockchain Explorer to help with validators deployment, bonding and nomination validators, contract debugging, and understanding the performance of the network.
- The Reef command line tools allow developers to deploy applications in local environments.
- Reef wallet to access and interact with the blockchain
Reef is designed for cryptocurrency newcomers and existing DeFi users who have difficulty keeping up with multiple blockchains' funds and wallets. Substrate is a platform that allows for fast transactions and low cost. Some claim that Ethereum's fees make DeFi protocols unusable.
The unique feature of the Reef chain is that any DeFi protocol which has been deployed on Ethereum or another EVM-compatible network can be run on Reef with a few modifications to the code. Reef Chain is a crossroads between Ethereum and Polkadot. It also provides bridges to other blockchains. Anyone with a Web3 wallet can access the Reef ecosystem.
Substrate is what made Reef extensible. It can support multiple Virtual Machines (Virtual Machines), as well as extensions for popular VMs like EVM (Ethereum Virtual Machine). It supports on-chain upgrades, so new features can be easily pushed through both the networking layer and on-chain governance.