Welcome to this guide, where we will see how you can buy Reef in an easy, safe and simple way. For this, we are going to use the world’s No. 1 exchange, Binance, and now we will see the step by step in detail.
Also, once we have seen the guide, you can find more information about the Reef project and frequently asked questions that users usually have. In order to solve any doubt before buying the cryptocurrency, and you can have as much information as possible.
Where to buy Reef
In order to buy this cryptocurrency, there are many current platforms that have this token listed. In this case, we will use Binance, as it is the most used exchange and the one we consider to be the best. In case you use another platform, you can create the account below, or below you can find a list with the different platforms where you can also buy Reef.
Now, I leave you with a video where you can see the step by step and all the details to get this cryptocurrency. Although if you are more of a reader, you can find after the video the detailed guide.
Platform: Binance
Min. deposit: $10
License: Cysec
Very low commissions
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Step by Step
The first step is to log in to your Binance account. In case you don’t have an account, create one with the link above.Â
Once logged in, we will need to deposit funds into our account in order to start buying. We will be able to deposit by bank transfer, or debit/credit card. With a commission of 1.8%, but we will have the deposit instantly. Or by wire transfer with a fixed commission, and it will take several days to have the deposit to use.Â
I recommend you always use the card to avoid having to wait to use the funds.Â
 
With your first deposit, you will see that you have your currency in your balance. And we will have to exchange our currency for USDT. Since USDT will serve us to buy any other cryptocurrency, including Reef.
So we will go up in markets, and we will look for the pair of our currency with USDT. In my case it is EUR/USDT, but if you have another currency, look for your currency with respect to USDT. For example, GBP/USDT, USD/USDT, etc.
Once you have clicked on the pair, we will go down to the center, in the buy and sell panel. And here we will have to change our currency to USDT, going to the sell part. In my case Sell EUR to get USDT. So we will indicate at the top right of the market, the amount you want to change your currency and click on Sell EUR or your currency.Â
This way, we will already have USDT in our balance. You can go to the main panel to check it.Â
Once we have USDT, we will have to go back to markets, but now we will look for REEF. And the pair REEF/USDT. Once you find it, click on it.Â
Here, we will see again the same buy and sell panel as before, but in this case with USDT and REEF. In this case, we must go to the green buy side to exchange our USDT for REEF.
As we have done before, we indicate to the market at the top right, the amount we want to buy, you can use the bar below to indicate a specific %. And with this ready, click on Buy REEF.Â
Now if we go to the main panel, you will be able to see your Reefs in your balance. This way, you have already got this token, in a quick and easy way. Although it may seem like several steps, once you do it, you will see how fast and simple it becomes.Â
With the steps we have seen, you can have your Reefs in just a few minutes. And with them, you can now store them in your balance, withdraw them to a wallet for safety, or wait for them to rise in price to sell them whenever you want.
To conclude, let’s summarize in a simpler way all the steps we have seen as a summary:Â
- Create your Binance account or login if you already have one.
- Deposit funds into your account (It is recommended to use a credit card to avoid waiting).
- We will use the deposited currency to get USDT (in this example, the EUR/USDT pair)
- Go back to the markets and search for REEF, where you will find the REEF/USDT pair.
- We will go down and buy the amount you want by clicking on BUY REEF. Indicating the market and the amount we want to buy.Â
- It’s time to enjoy your new cryptocurrency.
Platform: Binance
Min. deposit: $10
License: Cysec
Very low commissions
Exchange with more cryptocurrencies
FAQS
We have already seen how to buy Reef with Binance, but there are also other places to get this token. In case you already have an account or prefer to use another platform, this list can be of great help. To find out where you can buy LUNC, it’s as simple as going to coinmarketcap or coingecko. Here, search for the cryptocurrency, in this case REEF. And once there, click on markets.Â
Thus, you can see the entire list of platforms where it is available in real time. In order not to waste your time, you can see the main platforms in the image below.Â
Unfortunately, this option does not currently exist. Since there is no exchange or platform to buy and sell cryptocurrency that allows deposit with PayPal.Â
The only platform we have been able to find is eToro, but it does not have REEF listed yet. So we will have to wait until it is on this platform to be able to buy using PayPal.Â
Although keep in mind that eToro does not allow withdrawals or deposits of cryptocurrencies. Since really when you buy, you are buying an etf that tracks the price of the cryptocurrency, but you do not really have the cryptocurrency to withdraw it as happens on other platforms such as Binance.Â
In order to sell REEF, you will see that it is not complicated at all. You will only have to do the same steps that you already did when buying, but with the difference of going to the red sell button.
We will look for the pair REEF/USDT, and click on it once you find it. We go to the center, below and look at the red sell part. We indicate to the market on the top right, the amount you want to sell and exchange for USDT. Click on sell and it will be ready. We will have the REEF sold and we will have USDT again.
To withdraw Reef to your wallet, you must use the terra station wallet, as it is the most used one. With the following steps:
- Go to wallet and wallet spotÂ
- Search for REEF and once you find it, click on withdraw.
- Now you will see the Binance withdrawal panel
- Open your wallet and we will copy the address.Â
- Indicate the correct network where to send the tokens.Â
- Enter the amount and check all the information.
- With everything correct, click on withdraw and confirm with the confirmation codes.
- Your REEF will be on its way to your wallet.
In case you still have any doubts, you can visit this more detailed guide on how to withdraw funds from Binance.Â
In case you want to withdraw your funds to another platform, for example from Binance to KuCoin, the process is the same as we have seen in the wallet, with one difference.
In the step of opening the wallet to copy the address, in this case we will have to open the platform where we want to send the tokens. Here, click on deposit, and select REEF. Select the network you want to use to send the cryptocurrency, and you will see the address to copy.
With the copied address, go back to Binance and paste it. Indicate the same network as in the other platform. The other steps are the same as we have seen when withdrawing to your wallet.
In case you still have doubts, you can visit this more detailed guide on how to withdraw funds on Binance.
If you want to have your REEFs in the safest possible way, the best way is to have them in a hardware wallet. In my case I used Ledger, and you can buy it here.
Ledger is the most used hardware wallet in the world and it will give you full control of your funds. It avoids the risk that they can hack the platform where you have your tokens, or even hack your computer and have access to your wallet. With a hardware wallet, without the physical object they will not be able to move your funds.
What is Reef?
Reliable
Expandable
Efficient
Fast
Blockchain for DeFi, NFT and Gaming
The best of all worlds
Reef chain integrates the best aspects of the most widely used blockchains while maintaining full compatibility with smart contracts.
Introducing Reef chain
Reef chain is an EVM-compatible blockchain for DeFi. It is fast, scalable, has low transaction costs and does not do useless mining. It is built with Substrate Framework and comes with on-chain governance.
Solidity
Port your existing Ethereum applications to the Reef blockchain without modifying your Solidity code.
Liquidity Bridges.
Deloy ERC-20 assets set up on Reef and transfer liquidity between Ethereum and the Reef chain.
Reef Stakes
Link your REEF tokens and participate in the validation and governance of the Reef chain.
Governed by the community
The Reef chain has been built with upgradeability and long-term sustainable chain governance in mind.
REEF-20 tokens and NFTs
Create your own tokens or transfer existing tokens to the Reef chain.
Liquidity bridges
Deploy ERC-20 assets established on Reef and transfer liquidity between Ethereum and the Reef chain.
DEXs and AMMs
Trade any REEF-20 asset on decentralized exchanges.
Stablecoins and money markets
Hedge against volatility and earn interest on your stablecoin loans.
Built with Substrate Framework
The Reef blockchain features state-of-the-art blockchain technology, using Nominated Proof of Stake consensus, EVM extensions, on-chain update capability, libp2p networks and state-of-the-art cryptography.
Nominated Proof of Stake
Validators are chosen by nominators via NPoS. At the end of each block production epoch, elections of Phragmen Validators are held.
Upgradeability.
The Reef blockchain is self-updatable through the community-elected Technical Council.
Fee burning
The Reef chain incentivizes technological progress in terms of scalability by eliminating fee market politics.
Governance rewards
Bet on Reef tokens and earn rewards for participating in Reef governance.
Reef Chain is an EVM-compatible chain for DeFi with NPoS/PoC consensus.
Get started with Reef by installing the Reef node, and deploying a simple DeFi application locally in Quick Start.
For in-depth tutorials on the underlying aspects of the Reef chain, see the Developer’s Guide and Developer Resources.
Governance
Validators and nominators are essential to the Reef ecosystem.
Learn how to stake your Reef tokens and vote for validators. Highly technical users can also participate in validator elections for a chance to become a paid block producer.
Why Reef?
Reef is fast, scalable, has low transaction costs and does not do waste mining.
The Reef chain features state-of-the-art blockchain technology, using Nominated Proof of Stake, extensible EVM, on-chain upgradeability, libp2p network and state-of-the-art cryptography.
Rates
Reef is efficient and has a predictable algorithmic fee model. All fees for using the Reef chain are automatically burned.
Nominators secure the Relay chain by selecting good validators and betting on REEF.
You can have a REEF account and want to earn fresh REEF. You could do this as a validator, which requires a node running 24 hours a day. If you don’t have such a node or don’t want to bother, you can still earn REEF by nominating one or more validators.
By doing so, you become the nominator of the validator(s) you choose. Choose your validators well: if they do not behave correctly, they will be eliminated and you will also lose REEF. However, if they follow the rules of the network, you will be able to participate in the rewards they generate.
While your REEFs are staked by nominating a validator, they are “locked” (attached). You can receive new REEFs in your account, but you cannot wager as a validator or transfer REEFs out of your account. You can cancel the appointment at any time to stop wagering your funds. Please note that the cancellation of the nomination is effective in the following era, and that the cancellation of the nomination does not automatically unlink your funds. There is a 28-day delinking period in Reef before linked funds can be transferred after issuing a delinking transaction.
Platform: Binance
Min. deposit: $10
License: Cysec
Very low commissions
Exchange with more cryptocurrencies
