How to buy RSR with a Credit or Debit Card 

Reserve Rights, also known as the Reserve Protocol, is a decentralized financial ecosystem focused on creating stablecoins with minimal volatility. It allows the creation of RTokens, stablecoins pegged to a basket of assets, not just the U.S. dollar. Such diversification could allow this protocol to reduce price swings compared to traditional currencies. 

RSR is the Reserve Rights native token, providing governance, stabilization, and incentive mechanisms. It is available on CEX.IO, a popular crypto-based ecosystem that provides eligible users multiple pathways to buy crypto seamlessly, offering a user-friendly platform for a smooth purchasing experience.

In this guide, we explore RSR and how to buy it with a credit or debit card on CEX.IO. Read below for more. 

What is RSR?

RSR is an ERC-20 token based on the Ethereum network. It has a maximum supply of 100 billion tokens, with little over 50% circulating (50.6 billion). The team behind the Reserve protocol announced that this supply may change, though this remains speculative. 

How does RSR work?

RSR is primarily used for governance within the Reserve protocol. Participants who own this token can vote on protocols and decisions that may affect the Reserve Right's future. 

It also plays a major role in maintaining the stability and security of the Reserve protocol's alternative token, Reserve stablecoin (RSV). RSR holders can participate in arbitrage opportunities to help keep the price of RSV stable. Once stablecoin's value deviates from its peg, RSR holders can use their tokens to correct the price through collateral transactions. 

However, if the value of the collateral pool depreciates, the peg between RSV and its target value (USDC and BUSD) might be at risk. To restore the peg, the protocol can mint new RSR tokens and sell them in the market. 

Initially, this basket encompassed several assets, including Ethereum (ETH), USD Coin (USDC), True USD (TUSD), and the Paxos Standard (PAX), before the protocol updated RSV's backing to rely on USDC and BUSD. 

According to the Protocol team, this shift in course is due to the fact that both USDC and BUSD are highly liquid and widely accepted within the crypto space, providing users with a convenient and reliable ecosystem for transactions. It's also worth noting that curious participants can buy USDC and BUSD on CEX.IO. 

Finally, the funds raised from selling RSR are then used to buy additional assets and replenish the collateral pool. By increasing the value of the collateral pool, the peg between RSV and its target value is restored, ensuring RSV's stability.

How does RSV work to remain stable?

In simpler terms, one can observe RSV as a token pegged to the value of $1. To maintain this peg, RSV is backed by assets worth at least $1.

Now, if the value of these assets goes down (let's say they are now only worth $0.9), the protocol can create new RSR tokens and sell them to get more money. This extra money is then used to buy more assets and bring back the total value of the backing assets to $1. This potentially ensures that RSV remains stable at $1.

How to buy RSR with a credit card

CEX.IO offers multiple avenues to acquire RSR. Crypto-savvy users can take advantage of our advanced order types and price charts, and trade RSR against USD, EUR, and USDT on Spot Trading. 

On the other hand, novice enthusiasts can utilize our beginner-friendly feature, Instant Buy, to seamlessly obtain RSR with their credit or debit cards. However, it’s vital to note Instant Buy offers multiple payment methods beyond bank cards. This allows eligible customers to buy crypto with Paypal (exclusively available for U.S. customers), Skrill, Neteller, Google Pay, and Apple Pay. 

But, for now, let’s see how to acquire RSR with a credit card: 

1. Create your account and follow the page instructions to get verified. 
2. Navigate to Instant Buy from the dashboard.  
3. Select the fiat currency you wish to use to obtain RSR (USD, EUR, or GBP). 
4. Choose RSR from the list of available assets. 
5. Enter the amount you wish to spend or the amount of RSR you want to receive. 
6. Elect credit/debit cards as your preferred payment method. 
7. Enter the required card details, including your credit card number, expiration date, and the security number (three digits from the back of your credit card). 
8. Click Add Card to connect your credit card with the CEX.IO wallet for future purchases. 
9. Review all transaction details and initiate the transaction. 
10. Confirm your credit card purchase by entering the one-time password (OTP) you receive via SMS or approve the transaction via mobile app (depending on the card issuer). 

How to buy RSR with a debit card? 

The instructions for buying RSR with a debit card are identical to those for a credit card using CEX.IO's Instant Buy feature. Customers don't need to follow a separate process based on their chosen payment method.

Therefore, all the steps from account creation and verification to transaction review and purchase initiation apply equally to debit card users.

Where to buy RSR?

Curious participants can obtain RSR on various centralized (CEX) and decentralized exchanges (DEX) that act as intermediaries between buyers and sellers of cryptocurrency. 

DEXs operate in a peer-to-peer (P2P) manner without central authority. While they may offer somewhat greater control, decentralized platforms may offer less user-friendly interfaces and lower trading volumes compared to CEXs. 

On the other hand, CEXs typically offer a more streamlined user experience with familiar interfaces and higher trading volumes, making them a good choice for curious participants  looking for an effortless way to buy RSR.

For example, CEX.IO provides a beginner-friendly platform with a user-centric interface and Instant Buy functionality, allowing customers to purchase RSR with credit and debit cards alongside other payment methods. 

This makes our platform convenient for those new to cryptocurrency who want to not only acquire RSR but also buy Ethereum, Bitcoin, Solana, USDT, or any other asset listed on CEX.IO. 

What should I consider before obtaining RSR?

For crypto enthusiasts, the decision to buy RSR hinges on their risk tolerance. The cryptocurrency market is inherently volatile, and RSR's price can experience significant fluctuations. Users uncomfortable with potential losses may want to consider other avenues.

Customers seeking a less volatile asset within the cryptocurrency space can explore stablecoins. These are cryptocurrencies pegged to a stable asset, like the US dollar, in an attempt to minimize price fluctuations. For example, CEX.IO allows eligible users to buy BUSD, USDT, and GUSD.

Thorough research on RSR's project, understanding of the inherent risks, and ensuring the purchase aligns with investment goals are essential before making any decisions.

How to store RSR?

RSR holders can choose between custodial and non-custodial wallets for storing their cryptocurrency. Non-custodial wallets, like hardware wallets, give users complete control over their private keys, but require more technical knowledge for safekeeping. 

Custodial wallets, like those offered by CEX.IO, hold user funds and private keys. They offer a user-friendly experience but trust the platform for security. For beginners or those seeking a convenient method, CEX.IO's custodial wallet can be a secure and reliable solution for storing RSR.

FAQs

Can I buy RSR in the U.S.?

Unfortunately, RSR is not currently available for purchase by our U.S.-based users. However, we empower our U.S. customers to explore a wide range of other supported assets compliant with U.S. regulations. U.S. users on CEX.IO can buy USDT, Bitcoin, Ethereum, Litecoin, and over 30 other compliant cryptocurrencies. Please note that available assets and payment methods can vary by jurisdiction. For instance, U.S.-based customers can acquire Bitcoin with PayPal, credit and debit cards, Google Pay, and Apple Pay. However, they are not able to buy Bitcoin with a bank account currently.

How can I track the value of RSR?

CEX.IO empowers users to stay informed about RSR's performance within the cryptocurrency market through our comprehensive crypto prices page. This valuable resource tracks RSR's real-time market value and offers insights into key market indicators like market capitalization, 24-hour trading volume, and most frequently traded currency pairs. 

Can I buy Bitcoin on CEX.IO?

Eligible participants can buy Bitcoin on CEX.IO with a variety of payment methods. Additionally, users can benefit from a complimentary Bitcoin wallet provided by our platform, offering a secure and convenient solution for storing their acquired cryptocurrency. Even for users who haven't yet completed registration, CEX.IO offers a valuable tool: the Bitcoin calculator. This resource empowers enthusiasts to make informed decisions regarding Bitcoin purchases by calculating real-time conversion rates. Bitcoin calculator ensures a clear understanding of both the cost and potential return before committing to a Bitcoin purchase on CEX.IO.

Can I earn crypto rewards with CEX.IO?

CEX.IO goes beyond trading to offer eligible users multiple ways to potentially earn crypto rewards. Through our Savings feature, participants can deposit their holdings and potentially accrue rewards over time. Additionally, eligible customers participating in our Staking crypto program can discover the opportunity to earn rewards for holding specific cryptocurrencies that support Proof-of-Stake validation.