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REN/USD is a means of expressing the exchange rate between 1 REN token and the US dollar. There are a variety of ways to express this pair, though always joining the two ticker symbols, such as REN-USD. REN is the cryptocurrency that powers Ren software, a project that aims to increase interoperability among different blockchains. Ren – formerly called Republic Protocol – has a particular focus on DeFi (decentralized finance). In its simplest terms, Ren software allows users to transfer different assets across different blockchains without the need for so-called wrapped tokens. The native cryptocurrency, REN token, is used to pay for operations on the Ren network. REN is used for various activities on the Ren network, including as a reward in the form of network fees for those operating nodes (called DarkNodes). REN to USD is available to trade on the eToroX cryptocurrency exchange, where you will also find analysis tools like a REN to USD converter and REN USD calculator. REN, like all cryptoassets at eToroX, can be bought and sold for very low fees and stored in a secure wallet.

Discover eToroX REN to USD investing

Launched as a partner platform to eToro in 2019, eToroX is a fully dedicated cryptocurrency exchange and suite of trading services. Regulated by the Gibraltar Financial Services Commission, eToroX is positioned to offer investors peace of mind through trading with a licensed platform while leveraging the next-gen technology of the blockchain. All trades are made with low fees, and eToroX also offers spot traders generous lines of credit for liquidity and a variety of API services, including FIX API. If you wish to invest in REN USD professionally, then choose eToroX as your dedicated trading partner. Our strong commitment to innovation as well as our keen attention on the needs of experienced crypto investors makes us the ultimate crypto platform for REN to USD trading.

About REN

Ren – then Republic Protocol – was founded in 2017 by Taiyang Zhang and Loong Wang, both of whom had extensive experience in the crypto space. Zhang acts as the current CEO of Ren. The fundamental goal of Ren is to remove barriers to access to DeFi projects by increasing interoperability among blockchains. While it is not alone in that ambition, it has specific traits that make it attractive to users, developers and, indeed, investors. An example of how Ren works is as follows: Users can take one cryptoasset, say Bitcoin, lock it in a smart contract, and subsequently receive the equivalent amount in Ethereum. The user could then use the Ethereum to access the blockchain’s suite of DeFi products, including reward-generating. The original Bitcoin remains locked in Ren’s system, and the user will have to pay a fee of REN tokens when they wish to unlock the original asset. REN tokens are used to pay for the nodes – a network of computers, each called a DarkNode – for maintaining the system.

Some REN facts

As an investment: buying REN with USD

REN-USD has had a similar trajectory to some other popular cryptoassets, going under the radar for a couple of years before breaking out in 2021. The all-time high for REN to USD was recorded in February 2021, when the price of 1 REN coin USD hit $1.83. REN tokens faced downward pressure in the first half of 2022 (from January to May, it went from around $0.55 to $0.15, yet it is worth noting that REN’s current all-time low was $0.015, recorded in November 2018. Both these values are accurate as of mid-May, 2022). There is a max supply of 1 billion REN tokens, of which 99% are in the circulating supply. Investors remain interested in REN for its application in cross-blockchain DeFi projects. But can it surpass that all-time high again? Some investors and traders believe it can. Ready to explore trading REN-USD? You can use the eToroX platform to buy and sell REN with no fees on deposits, low fees on trades and complete round-the-clock support from eToroX’s team.
You can trade buy and sell REN to USD on eToroX.

Investing and trading REN/USD on eToroX

For a serious approach to cryptocurrency investing, choose eToroX to provide access to a wide range of cryptoassets and dedicated trading services. eToroX was designed by cryptocurrency and trading experts to serve professional traders 24/7, believing that there was a gap in the market for a regulated platform providing cutting-edge technology to crypto investors. On eToroX, you will find no fees on deposits, low fees on all trades and generous credit for those who need additional liquidity. The exchange and services have been designed to be ultra-secure, using fully managed cold storage solutions to protect your assets. If you wish to trade REN-USD or any other cryptoasset pair, visit the eToroX professional crypto exchange.