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Choose your quick section of our Revain review below.
A Quick Overview of our Revain Review:
Revain is one of the first crypto platforms that has combined several features of review sites as well as blockchain technology.
Revain Live Price
What is Revain?
Revain is an online platform for Ethereum blockchain-based token reviews that allow users and developers receive constructive feedback regarding their projects. Revain also incentivises authors who provide high-quality reviews.
Key Features and Takeaways of Revain
Revain is one of the most popular cryptocurrency projects with the following distinct features and takeaways:
Revain is one of the first crypto platforms that has combined several features of review sites as well as blockchain technology.
Revain aims to create a legitimate and genuine structure for feedback for all global products as well as services that make use of emerging technologies including machine learning and blockchain.
Revain uses artificial intelligence (AI) tools as well as a manual review system to provide high-quality reviews.
The core system of the protocol includes features such as legitimate reviews, a stable system run on two tokens namely RVN and REV, and immutable information.
There are many traditional review platforms that face a plethora of challenges including the creation of fake accounts, spam, paid reviews, and many others. Revain aims to filter through the noise so that online reviews can become fair and unbiased.
Blockchain technology ensures that Revain is decentralised, immutable, and that it can incentivise its users.
The reviews on Revain undergo a comprehensive, enhanced screening processes known as IBM Watson AI which identifies fake and malicious reviews, preventing them from being published on the platform.
In addition, Revain also uses the Ethereum blockchain to record snapshots of the original reviews, ensuring that they cannot be changed or deleted.
The two native tokens of Revain, REV (R) and RVN each has its own unique function. RVN is a stablecoin that circulates only in the Revain network while REV can be traded on various cryptocurrency exchanges. Revain utilises a non-linear conversion mechanism to convert Rev into RVN, and vice versa.
It is important to note that RVN is not associated with the cryptocurrency project Ravencoin, which also has the ticker symbol RVN. The RVN tokens on Revain cannot circulate in the open markets whereas Ravencoin tokens can.
The Revain ecosystem consists of several key components as well as rules and processes. These ensure that there is the highest level of credibility associated with the reviews which are posted on the platform.
Revain Mining
Revain tokens cannot be mined or staked, however, users can earn rewards on the Revain platform. It should be noted that only listed companies can provide users with RVN tokens when they provide on-point and high-quality reviews. Users can earn from 0.1 to 100 RVN for their reviews and in addition, users get 0.1 RVN for their first approved review.
There are some issues with the distribution of RVN tokens where users have reported that they did not receive RVN tokens despite high-quality reviews. The reason for this, is that Revain does not have a strong partner network yet, and in addition to this, very few companies are interest in offering users with rewards for their reviews.
Users must note that Revain itself does not award RVN as there may be conflicts of interest where reward distribution may be concerned if it comes from Revain platform creators. The goal of the project is for users to write reviews about various companies and to earn rewards from these companies.
The Revain User Review Posting Process involves the following:
When a user writes a review and they submit it, it is sent to the proprietary RAF system of Revain. This filters fallacious and poorly written reviews along with spam, fake reviews, abusive comments, and any other content that will not generate value.
If the review is approved by the platform, it is sent to the corresponding organisation where the review will be approved manually.
The service provider will either accept or reject the review. If denied, the organisation must explain why, and the response will be displayed alongside the review.
If the review is rejected by the organisation, the user can file a dispute. This will lead to Revain employing a centralised panel of oracles, which are high-profile, highly-rated individuals.
If the Oracles deem the review valid, the user will get the reward and the organisation will receive a warning. After three consecutive warnings, the organisation is banned from the platform.
Pros and Cons
| ✔️Pros | ❌Cons |
|---|---|
| With Revain there is quality feedback that filters fake and unreliable reviews, helping to cultivate trust between consumers and businesses | Issues with incentives as there is a lack of a strong partner network |
| With the high-quality reviews provided by Revain, it revamps the overall online review sector. | Revain cannot prevent organisations from purchasing false good reviews |
| Users are incentivised to provide honest and constructive feedback. | Users who want to earn crypto can try to cheat the system by posting reviews that are fabricated |
| Revain’s system is decentralised, and it is also a trustless service |
Transaction Fees
| Type of Fee | Information |
|---|---|
| Trading Fees | 0.1% to 0.75% |
| Withdrawal Fees | 97 REV to 4697 REV |
Should you buy Revain?
REV is one of the top 100 cryptocurrencies on the market and the Revain platform aims to regulate the online review market. The Revain network consists of both businesses and consumer users who can both benefit from feedback which is given.
Businesses can obtain honest feedback regarding their products or services from real-world consumers in an environment that is free from fraud. Consumers, on the other hand, can earn a passive income in RVN for providing high-quality reviews.
Revain attempts to add transparency to the online review industry that not only helps buyers but helps to boost buyer confidence in trustworthy organisations and services.
Revain offers a unique and essential service which has drawn many investors since its launch. The future is bright for Revain as there is more widespread acceptance of blockchain technology to refine and improve several sectors, including that of online reviews.
How to buy Revain (REV)
Step 1 – Register an account with KuCoin
Users can navigate to the official KuCoin website and select the option to “Sign Up” from the homepage.
A new page will load with an online registration form that users must complete using either their mobile phone number or email address. Users must provide a valid number or address as a verification will be sent to either of these before sign-up can continue.
Once complete, the user will be redirected to the homepage and a pop-up will appear with the option to “Buy Crypto”, however, before proceeding with a deposit, it is essential that users set up Two-factor verification and that they complete the “Know Your Client” verification
Step 2 – Set up 2FA and Phone verification
The user can select the “Account Security” banner on their profile which will direct them to their account security page. To secure the account, users can select the “Google Verification” option first by clicking on “Set”.
Once selected, a new page will load, and the user can enter their email address to receive a verification code. Next, the user can download and install Google Authenticate and select the option on the app to add an account.
The user can either scan the QR code on the screen or manually enter the code provided to add their KuCoin account. Once the KuCoin account has been added successfully, they can type in the 6-digit 2FA code displayed on their Google Authenticate and select “Activate”.
Next, the user can select the Phone option under their security settings and click on “Set”.
Users will be redirected to a new page that will require a 2FA verification code from Google Authenticate. Once entered, the user can select “Next”.
The user can select their country code from the dropdown and enter their mobile phone number before selecting “Send Code”. Once the user has received the verification code, they can type it into the required field and select “Activate”.
Lastly, users must set their Trading Password by selecting “Set” from the Security Setting page.
Users will be redirected to a new page where they must provide their 6-digit 2FA code before they can proceed by clicking “Next”.
The user can select “Okay, I understand” when this pop-up appears, and they can enter their user-selected password into the field provided followed by confirmation of their trading password. Once done, the trader can select “Confirm”.
For additional security measures, users can explore the rest of the Security Settings page to access additional options.
Step 3 – KYC Verification
Next, the user can select the “KYC Verification” tab which is located next to “Security Settings”. Here, the user will be informed of the benefits associated with successful verification, including:
Daily Withdrawal up to 5 BTC.
Maximum leverage on futures trading up to 1:100.
Daily trading limit of 1400 USDT.
Users can select “Start Verification” to be redirected to a new page. On the new page, users must fill in the required fields with:
Their Country or Region of Residence.
Their First Name and Last Name.
Identity Document Type.
Identity Number.
Once the user has provided this information, they can accept that they have read the User Identity Authentication Statement before selecting “Submit”.
The user can then select “Continue to get more benefits” and they will be directed to a new page. Users can follow the instructions on the page to download the KuCoin Application to assist with identity verification, or the user can upload a photo of their identity in the field provided.
Users must upload a photo of their identity document along with a photo in which the user is holding their identity document, which verifies the identity information of the user with their valid identity document.
With surges in requests for identity verification that KuCoin is experiencing, the reviewal process may take up to one week to complete.
Step 4 – Explore Trading Options
Once users have submitted their KYC, they can proceed with trading by accessing the “Markets” tab at the top of the page.
Here, users can enter the name of the coin that they wish to buy/sell, in this case “REV” for Revain, and their trading pairs will appear on the list below. Users can explore their trading options between the headings to see what is available for their preferred coin.
In this case, the only trading option available for Revain is Bitcoin (BTC). Users can select the trading option and they will be redirected to the trading interface.
To buy or sell REV, users must enter their 6-digit Trading Password to access the available options.
Revain can either be traded on the Spot or the Futures market (where traders are given access to leverage of 1:100).
Step 6 – Withdraw funds
The user can hover over “Assets” and select “Overview” to be directed to their account overview page where they can select the option to “Withdraw”. The user can enter their token code in the search bar and select their token.
The user must provide their wallet address, the amount they wish to withdraw, and select “Confirm” to proceed with the withdrawal. The user will be prompted for their 6-digit trading password, their email verification code, and their Google Authenticate 6-digit code before they can select “Submit”.
Users must note the following conditions with regards to withdrawals from a KuCoin wallet:
For tokens such as USDT that support the use of several chains, KuCoin will identify the public chain automatically according to the input address provided.
If the user does not have a sufficient balance when they request a withdrawal, it is likely that the user’s assets are still in the trading account which means that the user must first transfer their assets to the main account.
If the address indicates that it “Contains invalid or sensitive information”, or it is incorrect, the user must double-check the withdrawal address, or they can contact KuCoin online support for further investigation.
KuCoin does not support fiat money withdrawal or trading, only cryptocurrencies are supported on the exchange.
Frequently Asked Questions
When was Revain first launched?
Revain was launched in 2018.
Who founded Revain?
Rinat Arslanov is the founder of Revain.
What is “ICO”?
It is Initial Coin Offering that, unlike an IPO, does not mean that those who invest in the cryptocurrency will have an ownership stake of the company that they provide funds to.
When was Revain’s ICO and how much did it raise?
Revain’s ICO was held in 2017 and raised more than 174 million ZAR.
Is Revain legit?
Yes, Revain is legit.
What is Revain’s total supply?
There is no maximum supply of REV coins.
What is the purpose of Revain?
To provide a transparent, high-quality online review platform where developers and consumers can receive constructive feedback on their projects, products, and services, and users can be incentivised for providing high-quality reviews.
On which blockchain is Revain based?
Revain is based on the Ethereum blockchain.
Does Revain work with smart contracts?
Yes. The Revain system is a trustless and decentralised autonomous organisation (DAO) that makes use of smart contracts, defending Revain against fake reviews.
Does Revain have potential to become more valuable?
Yes, Revain has a significant amount of potential to become more valuable with the transition towards a more digital world where blockchain technology is used more than ever before.
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