Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy Reserve Rights. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!

Sign up with Swyftx

Reserve Rights

Australia has a good amount of popular and regulated cryptocurrency trading platforms, so it’s quite easy finding an exchange that has Reserve Rights. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.

Let’s get into it!

How to Buy Reserve Rights in Australia

There are only 4 main steps involved and it’s pretty straightforward:

  1. Choose a crypto exchange
  2. Sign up with the exchange
  3. Fund your account with AUD
  4. Buy Reserve Rights

1. Choose a crypto exchange

As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has Reserve Rights in its list of cryptocurrencies.

Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.

And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.

So for this guide on buying Reserve Rights, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer Reserve Rights.

Alternatively, if you want to know more about which exchanges we recommend, look at our comparison of the best crypto platforms.

2. Sign up with the crypto exchange

Once you’ve decided on which exchange to use, it’s time to sign up.

Sign up with Swyftx and grab $20 free BTC.

Swyftx has a very streamlined sign-up process in place. The first step is to fill in the sign-up form.

Next up is to go through their basic verification process, called a KYC, which is required by law here in Australia. This should be very quick and easy.

Once done, it’s time for the next step.

3. Funding your account with AUD

To buy Reserve Rights, you first need to transfer AUD to your Swyftx account using one of the many deposit methods available. From bank transfer to PayID, POLi pay and credit cards, plenty of options to choose from.

Swyftx Deposit Methods

4. Buy Reserve Rights

The final step is to go to their asset list, find Reserve Rights, navigate to the buy section, and then trade your AUD for some RSR. Once you’ve bought Reserve Rights, you can track how much you’ve gained or lost either in the app (they have a great app), or on desktop on the left-hand side under your cryptocurrency list.

Where to Buy Reserve Rights (RSR)

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How to Sell Reserve Rights

If you’re thinking about selling Reserve Rights, just follow the steps below.

  1. Sign in to the cryptocurrency exchange (like Swyftx).
  2. Click on Reserve Rights in your list of cryptocurrencies, or find your trading account if you’re using an exchange with different accounts.
  3. FInd the sell section and sell Reserve Rights for AUD, or trade it for another cryptocurrency.

Frequently Asked Questions

Is buying Reserve Rights in Australia legal?

Yes, you can legally buy and trade cryptocurrencies in Australia. We do of course recommend only using crypto exchanges regulated by AUSTRAC.

How to buy Reserve Rights with PayPal?

Unfortunately, most crypto exchanges in Australia don’t support PayPal. The only exchange that you could use is eToro, but their cryptocurrency list is quite limited so you might not find Reserve Rights. Have a look on their site first, you might be lucky.

How to buy Reserve Rights with a credit card or debit card?

Most top exchanges support buying crypto with a credit or debit card. We would recommend Swyftx to buy Reserve Rights with your credit/debit card.

About Reserve Rights

Reserve Rights (RSR), a token ERC-20 token, serves two main purposes in Reserve Protocol. They can be used to secure Reserve stablecoins, (RTokens), through staking them. Then they are governed by voting on their configuration.

After a successful initial trade offer (IEO) on the Huobi Prime platform the Reserve Rights token was launched in May 2019.

Reserve Rights are the governance token for Reserve stablecoins (RTokens), which can be modified to RTokens. These changes can be made by RSR votes. Reserve Rights are also available to reserve stablecoin holders (RTokens), in case a collateral token is lost or stolen. RSR holders can choose to stake on only one RToken, or to split their RSR tokens to stake on multiple RTokens. RSR holders can choose to not stake their RSR.

RSR stakers receive a portion of the RToken's revenue in return for providing insurance. RSR stakers will typically see higher returns (APYs) the greater the market cap of the RToken that they insure.

RSR staking is built to last, unlike many other "staking” projects. The Reserve model doesn't require trust in any other parties to staking, and participants who are late are not paid.

The U.S. does not back reserve stablecoins like other stablecoins. Dollars (USD), kept in reserve in a bank account under the control or trust custodian of the stablecoin issuer. Instead, they are backed by a variety of cryptocurrencies managed via smart contracts.

These baskets can include any ERC-20 assets. Initial Reserve stablecoins (RTokens) will include a USD-denominated stablecoin, backed by other stablecoins such as USD Coin (USDC), True USD(TUSD), Paxos USD ($USDP), and Paxos USD (“USDP”) as well as a stablecoin-backed DeFi-yield bearing assets such as Compound USD Coin (cUSDC) and Aave Dai (aDAI), which will allow holders to passive DeFi yieldstaking and/lock their tokenstaking or to lock their tokenstaking.

The Reserve community will soon be able transact to more baskets. This could include fiat currencies, securities, commodities, and complex asset types such as synthetics and derivatives.