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THORChain

How & Where to Buy THORChain (RUNE)

Buying THORChain (RUNE) for funds from your bank requires a 2-step process. You're going to buy some BTC or ETH from an exchange that accepts deposits from a debit card or bank account, and then you're going to transfer your newly bought crypto to a marketplace that sells RUNE in exchange for bitcoin or Ether.

Step 1Buy BTC or ETH at Coinbase

Sign up and purchase BTC or ETH at Coinbase.

If Coinbase is not available in your jurisdiction, view our list of exchanges that sell BTC or ETH for Government issued money.

Step 2Go to a supporting RUNE exchange:

Transfer your newly purchased BTC or ETH from your wallet to one of the exchanges listed below.

ALL RUNE EXCHANGES

THORChain Price & Information

Current RUNE price and historical price chart

Why Should I Buy THORChain (RUNE)?

How and Where to Buy THORChain (RUNE)

THORchain was founded in 2018 by an anonymous group. It was funded initially by an IDO (initial DEX offering via the Binance DEX. The THORchain mainnet launched in January 2021.

The premise for THORchain’s anonymity is to enable and protect ongoing decentralization. Many other community-driven cryptocurrency projects promote transparency without fear of damaging its decentralization. Still, the THORChain website has no listed CEO or team members, so the founders’ identities remain a mystery.

What Is THORChain (RUNE)?

THORchain is a “decentralized and autonomous cross-chain liquidity network.”

Platform users can exchange their crypto assets across multiple networks in a permissionless environment whilst retaining custody of the assets.

THORchain’s native token is $RUNE, with the purpose of powering and helping to secure the ecosystem. For instance, the THORchains nodes in the Sybil resistance mechanisms require 1 million $RUNE tokens as a minimum to maintain the rotating consensus.

The THORchain website suggests that cross-chain functionality is only the beginning of the project. Plans include lending options, composite assets, leveraged assets, and synthetic assets.

The THORchain ecosystem includes: –

  • Software hardware wallets
  • Project funding
  • Arbitrageur tools
  • DAOs
  • Insurance
  • Liquidity provider tools
  • Network Explorers
  • Name Service – to register cross-chain wallet addresses
  • NFT collections
  • Swap/Pool interfaces

What Makes THORChain (RUNE) Unique?

THORchain’s unique system, with a slip-based fee, helps prevent temporary losses, which can sometimes happen when a liquidity provider contributes to a pool. The system helps to keep essential liquidity exactly where needed.

THORchain uses several innovative technologies, such as: –

  • One-way state pegs – enabling syncing states from external chains
  • A state machine to coordinate “asset exchange logic and delegate outgoing transactions”
  • The Bifröst Signer Module for processing chain-specific transactions
  • TSS protocol for seamless facilitation of cross-chain functionality

“THORChain aims to decentralize cryptocurrency liquidity via a network of public THORNodes and ecosystem products. Access to its native and cross-chain liquidity is open to any person, product or institution.” – THORchain website.

How essential is $RUNE to the THORchain network?

$RUNE plays a vital role in the ecosystem as it enables liquidity. The bonding secures the network.

  • Incentive Pendulum –  the network requires an optimum balance of pooled and bonded $RUNE tokens. Too little, and THORchain offers node operator incentives to increase bonds, and too much, THORchain incentivizes liquidity providers to pool more assets
  • Deterministic Token Value – the price of $RUNE tokens is deterministic. The THORchain network needs a 2:1 ratio for bonding by node operators and 1:1 pairing with pooled assets from LPs (liquidity providers). $RUNE’S market cap “should be a minimum 3X the value of all non-RUNE assets locked into THORChain liquidity pools.” – THORchain website
  • High Yield – THORchain offers incentives with a high APY return for liquidity providers and node operators
  • Slip-Based Fee – helps prevent bootstrapping low liquidity pools and discourages malicious activities. In addition, it forces high volume and frequency traders to “pay their fair share.”
  • Continuous Liquidity Pools (CLP) – a CLP measures the depth of assets in a liquidity pool and can establish price alongside arbitrageurs to check that the price correlates with current market conditions
  • Verifiable Solvency – the verifiable value locked in pools and bonds, which helps prevent nodes from stealing 

How and Where to Buy THORChain (RUNE)?

If you are ready to buy THORchain (RUNE) tokens, consider choosing a cryptocurrency exchange with a trustworthy reputation. Binance, established in 2017, is a leading crypto platform with over 1600 markets and more than 390 different coins. It’s an ideal platform for newbies: –

  1. Register for an account with Binance. To access all services, you’ll need to submit proof of identity documents
  2. Once your account is verified, deposit funds – Mastercard or Visa, Wire transfer, or use a supported cryptocurrency if you prefer
  3. Find a trading pair on the Binance exchange: RUNE/USDT, RUNE/BUSD, RUNE/BTC, RUNE/BNB, RUNE/EUR, RUNE/GBP & RUNE/ETH
  4. The final step is to send your $RUNE tokens to a crypto wallet. You can download the Binance Trust Wallet or send it to another wallet that supports $RUNE tokens

How do I Sell THORchain (RUNE)?

  1. Look for the “trade” button if you have the Trust Wallet. Most crypto wallets are similar, so the process is the same
  2. Exchange your $RUNE tokens for $USDT, a popular stablecoin listed with most cryptocurrency exchanges
  3. If you have an account with an off-ramp platform like Gemini or Coinbase, transfer the $USDT there
  4. Once in the off-ramp account, sell the $USDT for the fiat currency you prefer and submit a request for a bank transfer

Should I Buy THORchain (RUNE)?

Only you can decide if THORchain (RUNE) is the right cryptocurrency for investment. Unfortunately, we cannot provide financial advice, but if you choose to go ahead and buy $RUNE tokens, our best suggestion is to register with a reputable exchange. Below are three of the leading cryptocurrency exchanges that list THORchain (RUNE) tokens: –

  1. Binance
  2. KuCoin
  3. FTX

How do I invest in THORchain (RUNE) safely?

The cryptocurrency market is renowned for unpredictability, so investing in THORchain (RUNE) is a risk. Depending on your experience and expectations from a crypto investment, you could lose your money or make significant gains. Either way, there’s no guarantee of results.

However, you can reduce the risks of investing with the wrong cryptocurrency platform. Reputable cryptocurrency exchanges usually have insurance to protect users’ funds from an unexpected cyberattack. Also, please don’t leave your $RUNE tokens on an open exchange where they are vulnerable. If you register with Binance, use the Trust Wallet. KuCoin has a custodial and non-custodial wallet, and FTX has an exchange wallet.

$RUNE pairs listed on KuCoin and Gate.io: –

  • KuCoin – RUNE/USDT, RUNE/BTC
  • FTX – RUNE/USD, RUNE/USDT