The idea of THORChain evolved in 2018 in a bid to solve the liquidity challenges faced in the decentralised exchange of crypto tokens. THORChain is a blockchain-agnostic liquidity protocol that facilitates cross-chain swaps of cryptocurrencies. While most liquidity platforms focus their solutions on the Ethereum network, THORChain targets the Binance Chain.
The platform’s native currency, RUNE, allows users to stake their funds in the RUNEVault, a sort of native cryptocurrency wallet, to become network validators. The network then rewards the stakers with more RUNE to validate cross-chain transactions of cryptocurrencies. You can buy RUNE in Australia on Swyftx.
The best place to buy THORChain is right here at Swyftx! Swyftx offers a fast, secure, and user-friendly platform that allows traders to easily deposit Australian dollars to trade Bitcoin and other cryptocurrencies instantly. We offer competitive fees and excellent customer support and we are proud to be Australia's highest-rated crypto exchange as per our Trust Pilot Reviews.
Yes, Swyftx is a safe and secure platform to buy and sell THORChain (RUNE). Swyftx employs a range of advanced security measures to protect user funds and personal information and has been awarded ISO27001 certification for information security.
Swyftx is a AUSTRAC registered exchange that conducts regular security audits and maintains strict compliance with Australian Anti-Money Laundering and Counter-Terrorism Financing Laws.
You can find more information on our security practices here.
The price of RUNE is determined by the forces of supply and demand in the market. Similar to other assets, the price of Bitcoin is determined by the number of buyers and sellers in the market at any given time.
Some significant factors that can influence the demand for Bitcoin are adoption rates, Macro economic factors, News events, upgrades and advancements in its tech and investor sentiment.
You can deposit Australian dollars (AUD) into Swyftx via a number of methods including:
Swyftx also allows you to deposit cryptocurrency from another wallet into your account.
Swyftx does not allow you to directly buy THORChain with credit card, however, we do support credit and debit card deposits. Once your deposit has arrived in your account, you can then buy RUNE instantly.
Swyftx has a trading fee of 0.6% for all buy and sell orders. In addition to the trading fee, Swyftx applies a spread to each cryptocurrency trade.
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This should not be used to make investment decisions.
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