How to Buy REP (Augur)

If so, you may want to consider Augur, an open-source prediction market platform that allows users to bet on the outcomes of real-world events. 

Built on top of Ethereum, Augur lets you purchase shares of outcomes using ETH, Ethereum’s cryptocurrency. By helping report these outcomes, you can also be rewarded with REP, Augur’s cryptocurrency, which provides a built-in incentive to maintain the platform. 

Not sure yet why you’d want to buy REP? Feel free to read our ‘What is Augur?’ guide. It offers a more extensive breakdown of its technology and vision. 

While it is used alongside ETH for platform functions, REP is pivotal in the success of Augur as a forecasting tool. In fact, users who report outcomes truthfully are rewarded in REP, while those who don’t can lose their REP.  

There are a number of ways to buy REP. However, many find that it is easiest to purchase it through a trusted global exchange like Kraken. 

Aside from offering the lowest fees in the industry, Kraken is constantly rated one of the most secure and trusted crypto exchanges in the world. This matters because if you lose the private key to your REP, it can be challenging if not impossible to recover your funds.
 

At Kraken, we take security seriously, with tested technology and rigorous procedures designed to safeguard funds. We don’t cut corners when it comes to security, and neither should you.

Follow the steps below to start buying REP on Kraken: 

1. Sign up for a Kraken account.
   First, enter a valid email address, create a new username and set a strong password to protect your account.

2. Verify your account. 
   After providing your name, date of birth, country of residence and phone number, you can buy REP with cryptocurrencies like ETC and DASH. In order to use fiat currency (i.e. EUR or AUD), you’ll need to provide our experts with additional supporting documents verifying your identity. Read about our verification processes here.

3. Deposit fiat currency.
   You can fund your account in a number of ways. How you do so will depend upon your location and preferences.

4. Purchase REP!
   Once your account is funded with fiat, you’re ready to purchase REP. At this point, you’ll also gain access to our advanced charting tools, 24-hour global client support and the ability to utilize margin trading, features that help make the Kraken experience beloved by millions of global traders.

Once you buy REP, you’ll need somewhere to safely store your cryptocurrency. 

Kraken is secure, but it’s always safest to keep your REP in a wallet, a software or hardware device that stores the public and private keys required to make crypto transactions.

Augur is a platform built on top of Ethereum, meaning REP can be stored in an Ethereum wallet, of which there are many. Mobile and web wallets can make transactions easy, while hardware and paper wallets are perhaps best suited for secure, long-term storage. 

When choosing a crypto wallet for your REP, first spend some time thinking about what you plan to do with your tokens to find a wallet that fits your needs.
 

Ready to take the next step towards betting on real-world events? Click the button below to buy REP on Kraken today!