In this post we are going to see how you can buy Rainbow Token without paying high commissions and in a simple and fast way. Currently, it is not listed in any or few exchanges, but you can get it through the DEFI pancakeswap exchange. If you don’t know how, let’s see it here step by step.Â
If you want to know more in detail all the aspects of this cryptocurrency, later after seeing the step by step we are going to see what Rainbow Token is so you can know more about this cryptocurrency before buying it and know what you invest your money in and what focus this project has.
Where to buy Rainbow Token
To buy Rainbow Token, we are going to use Binance and the Metamask wallet, for me it is the best option, as it is the most used wallet, although you can also use other wallets compatible with the BSC. Binance we are going to use it to buy BNB and USDT or the cryptocurrency you want, to exchange it for the Rainbow Token and get this cryptocurrency finally.
Also, we will need BNB to pay for the network commissions. You can create an account with binance just below if you don’t have one yet to follow the step by step guide.Â
Platform: Binance
Min. deposit: $10
License: Cysec
Very low commissions
Exchange with more cryptocurrencies
If you already have BNB in your metamask wallet to pay for the commissions, which are a few cents, you are simply going to have to go to pancakeswap, and copy the Rainbow Token contract so you can find the token if it doesn’t show up when you search for it. You can find this on Coingecko or coinmarketcap by searching for Rainbow Token or you can copy the contract from the Binance network just below:
0x673da443da2f6ae7c5c660a9f0d3dd24d1643d36
With this contract, you will be able to find the token, in from to exchange it for the cryptocurrency you want in Pancakeswap. In addition to adding the token in metamask and being able to see the amount you have once purchased.
It is currently listed on the exchange gate.io, which you can create your account below and buy without using pancakeswap in a simpler way if you are new to the world of cryptocurrencies.
Platform: Gate.io
Min. Deposit: $10
License: Cysec
New cryptocurrencies (ICO’s)
Growing exchange
Step by step
Let’s see in detail how you can buy Rainbow Token. The first thing we are going to do is to log in Binance, if you don’t have an account you can create one here. With your account, you must make a deposit to have funds and be able to buy BNB. You can deposit funds with your credit card, to have the balance directly and without having to wait or bank transfer, although it will take a few days to be able to use it.Â
With your first deposit, whether it is euros, dollars or another currency, you must go to markets, and look for your currency with respect to Binance coin (BNB). In my case, EUR/BNB. Here go to the red sell button, and exchange your currency, in my case euros, for BNB. We use BNB because commissions on the Binance network are paid with this cryptocurrency, as happens with the Ethereum network with ETH. You can also buy USDT (Tether), but you should always have a small amount of BNB in your metamask wallet to pay for commissions, less than $1. With 10-15$ of BNB is enough for several transactions and not run out of BNB.
Once you have BNB, you must click on the cryptocurrency, and click on withdraw. Go to your metamask, and click on the address, you will see that an address is copied when you click on it. You must enter this address in Binance to withdraw your BNB from Binance to Metmask. It is very important to enter the BEP20 network, and the amount you want to withdraw. The commission is $0.80. Confirm that the information is correct and confirm the transaction with the codes.Â
Open your metamask wallet, and if you have the Binance network configured, the amount of BNB you have transferred should appear in a few minutes. If you don’t have the Binance network configured, I recommend you to look up how to configure the Binance smart chain network in Metamask, so you can use it, without it, you won’t be able to buy Rainbow Token. It is very simple and you will only have to copy the parameters it tells you.Â
With this done, we must go to pancakeswap. Here in from, we indicate BNB and to, the Rainbow Token. If you look for it, you will not find it. In order to use it, you must copy the address of the contract and paste it. You can search for it in coingecko to see it, or you can copy it just below:
0x673da443da2f6ae7c5c660a9f0d3dd24d1643d36
With this, the Rainbow Token should appear in order to be able to exchange.
Before clicking on swap, you are going to have to go to the settings wheel, Slippage tolerance and set 12%. This is because this cryptocurrency charges a 10% commission, 5% is burned and 5% goes to people who have Rainbow Token. So if you buy Rainbow Token, you are going to see the amount you have increase just by having it in metamask.
With the 12% marked, simply click on swap, and confirm in your metamask the transaction.
In case you can’t make the transaction and you get an error in pancakeswap, go up the slipping tolerance 1% each time until you can make the transaction. Due to volatility and liquidity, sometimes you have to raise the slipping tolerance higher than usual for the transaction to go through.
Now, you can go to your metamask, and add the token with the contract that you can find in coingecko or just above Rainbow Token to see the amount of cryptocurrencies reflected in your wallet and its value in $. With this, you will be able to have Rainbow Token and accumulate this cryptocurrency without doing anything else but waiting. If you do not have an account with binance, you can create one just below to follow the steps we have seen.Â
Platform: Binance
Min. deposit: $10
License: Cysec
Very low commissions
Exchange with more cryptocurrencies
What is Rainbow Token?
$RAINBOW is a fresh and innovative ecosystem that aims to bring accessibility to cryptocurrency. Powered by RainbowToken, which uses 7 strong protocols, this is truly a place for everyone.
Our ultimate goal is to bring more people into the wonderful world of cryptocurrencies, and that’s why our mission is to develop and curate dApps that focus on low costs and usability.
The Rainbow token
What drives the ecosystem, the RAINBOW token is a powerful 7-part token that brings balance to the ecosystem.
Pots of gold
If you follow a rainbow to its end, you come across a pot of gold! Bet your RAINBOW on pots of gold and earn APYs of up to 50%+!
Bifrost: Rainbow Bridge
Our RAINBOW dApp for token launching and bridging between chains. As a RAINBOW holder you can earn launch and bridge commissions.
7 colors. 7 features. 7% tax.
Tokenomics
$RAINBOW is the powerhouse of our ecosystem. A BEP-20 token that incorporates 7 fantastic protocols into its smart contract. Together, its tokenomics synergize as a single token, offering something powerful for everyone.
Read to find out how each of the protocols works.
Charity
RAINBOW aims not only to help the world, but also to inspire competitors to really look at putting wealth where it matters most.
Each week we accept suggestions for a particular charity area (such as ecosystem preservation, cancer research or animal welfare), and the top three suggestions go into a 24-hour survey where the community can decide who receives the allocated donation.
RED
Our red protocol is our burn feature. This means that tokens are permanently out of the circulating supply on every transaction.
It works by taking 1% of each transaction and burns it by transferring it directly to the burn address:
0x000000000000000000000000000000000000dEaD
BURN PROTOCOL
You can check the dead address in BscScan in the “Headlines” section by its “Burn Address” label.
The network has a few addresses with unique names in the form of a string, called vanities, the dead address is an example of this. These addresses are not owned by anyone as they have no known private key associated with them. Since anything sent to this address is lost forever and unrecoverable, sending $RAINBOW to this address permanently reduces the supply in circulation.
Since reflections are also enabled at the burn address, there is a “black hole” effect. This means that the burn address absorbs tokens from the circulating supply in addition to 1% of each transaction, further adding to the burn.
ORANGE
Our orange protocol is our buyback function. A portion of the tokens is collected in the contract and sold to the BNB for token repurchase at a later stage.
When automatic buyback is enabled, each time a sale is executed, a portion of this buyback amount is used to automatically buy tokens from the liquidity pool. These purchased tokens are then immediately. The buyback system is set to manual by default, and is closely monitored and managed by the development team.
When enabled manually, this feature will automatically trigger a token buyback on every sale transaction and send these tokens directly to the burn address.
YELLOW
Our yellow protocol is our reflection function. This means that people’s balances automatically grow just by holding them. It takes 1% of each transaction and reflects it to each of the $RAINBOW holders (including the burn address). The amount everyone receives from this 1% reflection is based on the total supply of $RAINBOW they own.
For example, if John owns 2% of the total supply and someone buys 1,000,000 RAINBOW, John will receive 200 RAINBOW. This is because we take 1% of that transaction to find the total amount of reflection (10,000 RAINBOW), and then we take 2% of this to find John’s reflected amount: 200.
GREEN
Our green protocol is dedicated to charitable efforts. We want $RAINBOW to be an investment in the future of humanity. We are committed to investing in all areas of charitable work; such as, but not limited to:
– Poverty alleviation
– Habitat and ecosystem preservation – Cancer research
– Cancer research – Animal welfare
– Emergency services
– And everything in between
These choices are just a few examples of the areas of the world we can help, so if this is something that interests you, we want you to be able to vote and weigh in on the charity(s) we choose.
Our charity process is done organically and transparently. Each week we collect three of the most popular charities among our community, and post a poll with links and information about each of them. The winner of the survey will be rewarded with a charitable amount, where the transaction will be announced and shown in our media. To avoid overspending, we will monitor closely to ensure that we can continue to fund charities around the world for a longer period of time.
BLUE
LIQUIDITY PROTOCOL
Our blue protocol is our automatic liquidity feature.
This feature automatically grows our liquidity by taking a portion of each transaction and putting it into the liquidity pool. The smart contract will store tokens taken from transactions within the contract and at a threshold exchange the contract will automatically take a portion of these stored tokens and sell half of them to the liquidity pool in exchange for BNB. It will then match acquired BNB with the remaining half of the remaining tokens and deposit them into the liquidity pool.
Platform: Binance
Min. deposit: $10
License: Cysec
Very low commissions
Exchange with more cryptocurrencies
