Last update: Jun 6, 2022

How to Buy THORChain (RUNE)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy THORChain. Depending on where you’re located, you’ll have a few crypto exchanges to choose from.

In this guide, we not only cover the top 3 global cryptocurrency exchanges, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

Thorchain

How to Buy THORChain – 4 Easy Steps

1. Choose a cryptocurrency exchange

Finding a crypto exchange isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have THORChain of course.

2. Sign up with the crypto exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger crypto exchanges.

4. Buy THORChain

Now that you have what you need to buy THORChain, head over to the market or buy section of the cryptocurrency exchange and buy some RUNE.

If the crypto exchange doesn’t have any THORChain on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has THORChain first), and trade your Ethereum for THORChain.

Where to Buy THORChain (RUNE)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
BinanceUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
FtxUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX
Etoro logoUSD, GBP, AUD, EUR, and more50+credit card, skrill, paypal, bank transfer, and moreVisit eToro
Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell THORChain

  1. Sign into the cryptocurrency exchange where you bought THORChain.
  2. Move your THORChain to the right place on the cryptocurrency exchange. Some exchanges have trading accounts you need to use for buying and selling.
  3. Sell THORChain.

 

Crypto trading

How to Buy THORChain (RUNE) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy THORChain in Australia, the process remains the same:

  1. Find a crypto trading platform below.
  2. Sign up for an account.
  3. Fund your account with AUD.
  4. Buy THORChain if it’s available. If the exchange doesn’t have THORChain. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has THORChain), and trade your ETH for THORChain.

It’s also possible to check out our comparison of the bitcoin exchanges in Australia If you’re looking to learn more about the exchanges we like.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Swyftx logoAUD, NZD300+bank transfer, POLi pay, PayID, credit cardVisit Swyftx
Binance logoUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
Ftx logoUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX

How to Buy THORChain (RUNE) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy THORChain in Canada, the process remains the same:

  1. Find a cryptocurrency exchange below.
  2. Sign up for an account.
  3. Fund your account with CAD.
  4. Buy THORChain if it’s available. If the exchange doesn’t have THORChain. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has THORChain), and trade your ETH for THORChain.

Or, if you’d like to know more about which exchanges we prefer, read our list of the easiest crypto exchanges in Canada.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Bitbuy logoCAD15+Wire transfer, Interac e-TransferVisit Bitbuy
Coinberry logoCADBitcoin, Ethereum, Litecoin, BCH, XLMInterac e-Transfer, Wire transfer, Credit card, Debit cardVisit Coinberry
Ndax logoCADBitcoin, Ethereum, Litecoin, and 4 morewire transfer, Interac e-Transfer, Bank draftVisit ndax

How to Buy THORChain (RUNE) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy THORChain in the UK, the process remains the same:

  1. Find a cryptocurrency trading platform below.
  2. Sign up for an account.
  3. Fund your account with GBP.
  4. Buy THORChain if it’s available. If the exchange doesn’t have THORChain. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has THORChain), and trade your ETH for THORChain.

If you’d like to know more about the exchanges we prefer, read our comparison of the most secure crypto exchanges in the UK.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Cex logoGBP, USD, EUR10+Bank transfer, credit card, debit cardVisit CEX
Coinjar logoGBP50+Bank Transfer (FPS), Visa, MastercardVisit Coinjar
Coinbase logoUSD, GBP, EUR150+Bank transfer (FPS), credit/debit cardVisit Coinbase

Cryptocurrency trading

Considering buying THORChain? RUNE Rundown

THORCHain, a decentralized liquidity protocol, allows users to exchange cryptocurrency assets across multiple networks without having full custody.

THORChain allows users to swap assets in a permissionless environment. Users don't need to rely on order book liquidity to source liquidity. Market prices are maintained by the ratio of assets within a pool (see automatic market maker).

RUNE is the native utility token for the THORChain platform. This currency is the base currency of the THORChain ecosystem. It is also used to secure platform governance and security in THORChain’s Sybil resistance mechanisms. To participate in the rotating consensus process, THORChain members must contribute at least 1 million RUNE.

THORChain was initially funded by an initial DEX offering, (IDO), which was launched via the Binance DEX on July 2019. The mainnet was launched in January 2021. However, a multi-chain upgrade has been scheduled for 2021.

THORChain has a unique system that helps to mitigate "impermanent loss" -- the sometimes temporary losses that liquidity providers can suffer when contributing to liquidity pool pools. This is achieved by paying a slip-based fee that ensures liquidity remains where it is needed.

THORChain also combines a variety of new technologies such as state machines, state machines, and the Bifrost Signer Module. This allows for cross-chain token swaps to be seamlessly made. All this is done behind-the scenes making it accessible even to inexperienced traders.

Platform is not profit-oriented. The protocol generates fees directly for users. There are no provisions for the members of the team. Instead, the team is incentivized simply by holding RUNE -- like everyone else.

The RUNE token can be found on several blockchains including Binance Chain (as BEP-2 token), and Ethereum (as ERC-20 token).

Related:

author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.