Easy way to Buy RoRocket Pool(RPL) Online with Wigwam crypto app

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How to buy and hold RPL with Wigwam

RPL

1. Choose a token number that you want to buy

2. Create a wallet, where to store your crypto

3. Pay with credit card

580.11 RPL

4. Check your crypto in the created wallet

Why Wigwam is the best crypto wallet for Rocket Pool (RPL) storage

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Why Wigwam is the best crypto wallet for Rocket Pool (RPL) storage

Rocket Pool (RPL) Token review

The Rocket Pool (RPL) token is an ERC-20 utility token of the Rocket Pool project, a decentralized platform offering Ethereum staking alternatives. It prioritizes large payouts and grants users full autonomy over their digital assets. Rocket Pool utilizes RPL to facilitate various functions that enhance the overall experience of participating in Ethereum staking activities.

About  RPL

Rocket Pool (RPL) is a decentralized Ethereum staking pool that aims to offer a platform for ETH2 staking. With just 16 ETH, individuals can host their own nodes or join the network with a decentralized node operator network, providing a fresh method for staking. Liquid staking is facilitated by Rocket Pool, whereby participants engage in a growing exchange rate instead of augmenting their initial collateral staked. 

It also provides smart nodes, which are nodes with customized software that anybody can run on its network. In order to guarantee completely non-custodial staking and a high level of decentralization, the pool's open-source, audited smart contracts support this mechanism. 

RPL token use cases

Here are some significant use cases demonstrating how RPL enables users across many aspects of the Rocket Pool ecosystem:

  1. Collateral requirement for node operation: Members who want to use a validation node for the Rocket Pool must stake a portion of their contributed Ether (ETH) value, usually 10% of the total ETH committed, in RPL tokens.
  2. Protocol governance: RPL token holders gain the capacity to participate in critical conversations about the protocol's evolution and vote based on their allocations.
  3. Insurance collateral: RPL token serves as supplemental protection, ensuring the integrity of the entire network by acting as insurance in the event that a node misbehaves or fails to fulfill expectations.
  4. oDAO member compensation: Members of the oDAO receive 15% of newly generated RPL tokens in recognition of their contributions to running Oracle nodes and completing critical duties such as conveying reliable data across various components of the Rocket Pool protocol.
  5. pDAO financial foundation: Part of the freshly issued RPL tokens support the Public Development Association (pDAO)'s treasury, reinforcing the economic stability of the whole framework. Approximately 15% of the newly minted RPL tokens go directly to the pDAO Treasury. Funds from the pDAO Treasury are utilized across different categories, such as Grants & Bounties (30%) and Reserve Treasury (20%).

Economic value

The current circulating supply of RPL tokens approximates 20 million units and  a max supply of 20.14 million. As per the official release, when additional RPL tokens enter circulation – typically after each checkpoint or roughly every 28 days – they follow a structured allocation plan aimed at incentivizing participation and growth within the Rocket Pool ecosystem. About 70% of these newly generated tokens compensate node operators who contribute resources by staking their RPL holdings, 15% bolster the activities of the Oracle Data Organization (oDAO), and the rest fortify the security of the protocol under the purview of the Protocol Development Association (pDAO) treasury. 

Notably, unlike other cryptocurrencies utilizing regular token-burning processes, RPL employs managed inflation without explicitly destroying any coins. This approach aims to maintain sustainable long-term value creation over short-lived price spikes driven by scarcity alone.

Challenges

A variety of difficulties face the RPL token, the value and adoption of RPL are threatened by regulatory ambiguity as well as the possibility of changes to laws and regulations. Additionally, the performance of the Request Network and RPL currency may be directly impacted by the scalability problems with the Ethereum mainnet. This includes exorbitant petrol prices and network congestion, which can cause costly and time-consuming transactions and eventually prevent wider adoption. On the Ethereum network, excessive gas fees might also make certain transactions unprofitable and discourage new users from participating in decentralized finance (DeFi) activities. 

Disclaimer

This article is for informational purposes only and should not be interpreted as financial or investment advice. The views expressed herein represent solely the opinion of the author and are not intended to provide specific trading or investment recommendations. We do not guarantee the accuracy, completeness, or reliability of the information contained in this article. The cryptocurrency market is known for its high volatility and unpredictable fluctuations. Investors, traders, and anyone engaging with cryptocurrency are advised to conduct thorough research, consider a variety of perspectives, and acquaint themselves with applicable local regulations prior to making any investment decisions.

FAQ

You may buy RLP directly in our Wigwam wallet. Also, RPL tokens are available for purchase on a number of centralized exchanges. For instance, Coinbase allows users to purchase RPL tokens within the US, but Binance mostly facilitates RPL exchanges worldwide.

Rocket Pool enables users to participate in Ethereum staking while earning interest rates around 4.33% APR for ETH2 staking. Additionally, running one's own node with sufficient RPL collateral could yield up to 6.36% total annual percentage return (APR).

You can view your activity by going to Etherscan. Search for your address to view transactions, balances, and other relevant information.

Depending on the wallet you are using, the particular processes may change, but in general, adding RPL tokens will go like this:

Open your crypto wallet, click on the option of “Add tokens”, and then enter the RPL token details as follows

  1. Token Contract Address: 0xB4EFd85c19999D84251304bDA99E90B92300Bd93
  2. Token Symbol: RPL
  3. Decimal Precision: With 18 Decimals

After entering the token details click on “Save” to add the RPL token to your wallet

Buying RPL carries typical risks inherent to cryptocurrencies, such as market volatility, regulatory uncertainty, technological challenges, and liquidity concerns. Conduct thorough research and seek expert guidance before investing.