How to Buy Ravencoin (RVN)

Although it is impossible to make an accurate Ravencoin price prediction over any duration, it seems unlikely that it could touch the critical level of $100. One of the most significant factors that could prevent the RVN price from reaching $100 is its high circulating supply.

Out of the total supply of 21 billion, the circulating supply of RVN is over 11.75 billion as of October 2022. If each RVN coin is valued at $100, that makes the Ravencoin market capitalization cross $11 trillion - a highly unrealistic and unattainable figure.

Looking at the past performance of Ravencoin price, we can see that the all-time high was just above $0.285. Supporting fundamental factors like bullish market sentiment and rising adoption could take the RVN price back toward its highest price and possibly further.

However, for the Ravencoin price to reach $100, the project’s developers must drastically reduce its supply from billions to millions, at the very least. Since this is improbable shortly, it may not be possible for the RVN to USD price to reach this crucial level.

RVN is the native token used within the Ravencoin blockchain. It has the following applications:

Transaction Fees

$RVN is used to pay transaction fees by users who transfer payments using the Ravencoin blockchain. The blockchain charges minimal transaction fees compared to several of its peers, especially Bitcoin.

Native Currency

As the internal currency of the Ravencoin ecosystem, RVN coin is also burnt when issuing new tokens on the blockchain.

Mining

You can mine RVN and contribute to securing the Ravencoin network while generating rewards for your efforts. $RVN can be mined using GPUs or via mining pools. New RVN crypto gets mined when you validate transactions and create new blocks in the blockchain.

Crypto Asset to Trade and HODL

Ravencoin is an interesting cryptocurrency to trade or invest in long-term. Buy or sell RVN against other cryptocurrencies or hold it if you believe in the future potential of the Ravencoin project. Check the real-time Ravencoin price, RVN market cap, circulating supply, 24-hour trading volume, and the latest crypto news before you trade Ravencoin in the market.

Earn Passive Income

Some platforms allow you to generate passive income by putting your RVN holdings to work. RVN token holders can stake them or lend liquidity for RVN on supported platforms to generate attractive returns risk-free and grow your portfolio.

The first halving event in the Ravencoin blockchain took place on 11 January 2022 at block 2,100,000. Following this event, block rewards for miners were reduced by 50%, falling from 5,000 RVN to 2,500 RVN.

The next halving event will occur after another 2,100,000 blocks are created, which would take approximately 1,458.3333 days from the first event. In terms of years, this would be another 3.99 years from the first halving event.

However, this calculation assumes that block time remains 1 minute, which cannot be guaranteed. Block time is subject to change based on differences in mining power, which could impact this timeline shared by Ravencoin developers.

Mining $RVN offers an attractive way to grow your crypto holdings while supporting the Ravencoin blockchain and contributing to securing it. Here’s how you can mine RVN coins:

1. Download the official Ravencoin wallet from the website and configure an account on it. Fund your wallet by buying RVN on KuCoin or other supported platforms and withdrawing them to your Ravencoin wallet.

2. Visit the Pools section on the Ravencoin website to find the available mining pools and platforms. Select the pool or platform of your choice.

3. Download a GPU miner to start mining Ravencoin.

4. Configure your GPU miner by following the steps mentioned on the official Ravencoin Wiki page about mining.

5. Once your GPU is configured, you can start earning RVN coins for contributing computing resources.