Buy Ronin (RON)
What is Ronin?
Ronin, represented by the ticker RON, is the ecosystem token of the Ronin blockchain. This blockchain is an EVM-based platform designed specifically for play-to-earn games, with the primary aim of supporting Axie Infinity. Ronin is utilised to secure and decentralise the network.
How does Ronin work?
Ronin operates using a proof-of-authority (PoA) consensus mechanism. In this system, validators are chosen based on their reputation by the Ronin team. These validators include prominent entities such as Binance, Ubisoft, and Animoca Brands. The RON token plays a crucial role in this setup as validators are required to hold and stake RON to participate in validating blocks, which in turn rewards them with newly issued RON.
What are the potential use cases for Ronin?
Ronin's blockchain is primarily designed for gaming and decentralised finance (DeFi) applications. Notable use cases include:
- Gaming: Ronin supports games such as Axie Infinity by enabling fast and cost-effective transactions.
- NFT Marketplaces: It provides robust infrastructure for the creation, trading, and ownership of unique digital assets.
- Decentralised Applications: Ronin supports a wide range of DeFi applications, including decentralised exchanges and lending platforms.
What is the history of Ronin?
Ronin was founded in February 2021 by Sky Mavis, known for creating Axie Infinity, with the objective of developing a blockchain optimised for gaming applications. Initially, Ronin used a Proof of Authority (PoA) consensus mechanism. However, it transitioned to a Delegated Proof of Stake (DPoS) system to enhance security and decentralisation. Over time, Ronin has expanded its market presence, achieving significant growth in active users and trading volume. It continuously evolves with updates and partnerships to support its comprehensive gaming and DeFi ecosystem.
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Frequently Asked Questions (FAQs)
What is the current price of Ronin (RON)?
The Ronin price is $3.1367 AUD, representing a +2.02% from the day prior.
Where is the best place to buy Ronin (RON) in Australia?
The best place to buy Ronin (RON) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Ronin (RON) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Ronin (RON)?
The trading volume of Ronin (RON) is $19.3M AUD in the last 24hrs, representing a +2.02% from the day prior.
How can I buy Ronin (RON)?
Ronin (RON) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Ronin (RON)?
The current market cap of Ronin (RON) is $1.2B AUD.
Can I convert Ronin (RON) to cash?
Yes - With Coinstash you can convert your Ronin (RON) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Ronin (RON) are there?
The current circulating supply of Ronin (RON) is 374.2M.
Is Coinstash a safe place to buy Ronin (RON) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Ronin (RON) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.