Sui

Buying SUI on Rain can be done in a few simple steps:

1. Make sure you have funds in your fiat account or your card is added in the payment methods section.
2. Select the cryptocurrency you want to buy from the home or portfolio page.
3. Click Trade and choose Buy.
4. Enter the amount you wish to buy in your preferred fiat currency.
5. Select your payment method, either by selecting your card or using the funds in your fiat account.
6. Click Next to review your transaction details.
7. Click Buy Now to complete the purchase.

SUI will be added to your wallet after the transaction is executed. At Rain, we use cold storage to keep the majority of our clients’ assets offline.

Rain is licensed by the Central Bank of Bahrain (CBB) and the Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM FSRA). This provides customers with a regulated framework for trading digital assets in the region.

Before buying SUI, it’s important to understand the associated risks:

• Price volatility risk: the value of the cryptocurrency may rise or fall sharply.

• Governance and regulatory risk: the value of the cryptocurrency may be affected by legislation and regulation.

• Centralization risk: the network relies on a specific number of validators, which undermines its decentralized nature.

• Storage risks: you must protect your account with a strong password and two-factor authentication, and choose an appropriate storage method after thoroughly researching your options.

• Competition risks: the presence of numerous competitors, such as Avalanche and Solana, may affect SUI’s market share and growth.

You should not purchase SUI based solely on price predictions. Instead, you should study the whitepaper, the coin’s use cases, the project’s vision, and your risk tolerance before making any decision.

Once you add your bank card to your Rain account, you can use it to buy Sui directly. You can start by adding your card to your payment options on your Rain account. To purchase Sui using your bank card, you can select Sui, click Trade then select Buy. Enter the amount you wish to buy and choose your card from the payment options. Click Next to review and complete your purchase by following the instructions on the screen.

note: The purchase option with debit or credit card is not available for our users in Turkey

Rain enables you to buy Sui using your local currency. You can deposit funds through bank transfer, a process which takes 1-4 business days depending on your location. You can start by depositing funds to your Rain account from your bank account. Simply click on Deposit and enter the amount you would like to transfer. Click next and copy the instructions that will appear on your screen to complete the transfer from your bank account. Note that Rain does not automatically pull funds from your bank account and you will need to manually transfer the funds from your bank account to Rain's banking information.

Within 1-4 business days, the funds will be available in your Rain account and you will be able to use them to complete purchasing Sui. To do that, you can select Sui in your Rain account, click Trade and select Buy. Enter the amount you wish to buy with and click Next to review and confirm your purchase.

This is an easy process that requires only a few clicks. Here are the steps needed to sell Sui successfully:

On your Rain account, select Sui then click Trade and select Sell. Enter the amount you wish to sell and click Next to review and confirm your sell transaction by entering an OTP. You will receive a confirmation email once the transaction is done with the details.

Rain gives you the opportunity to sell Sui and withdraw your funds from your Rain account to your local bank account. First, you need to add your personal bank account to your Payment Methods option on your Profile.

Once your bank account is added, you can sell Sui and withdraw the funds to your bank account by clicking on Withdraw and entering the amount you wish to withdraw. Click Next to review and confirm your withdrawal information by entering an OTP.

Once the withdrawal request is submitted, you will receive a confirmation email that the withdrawal is being processed. Processing your withdrawal request can take between 1-4 business days.

If you would like to receive Sui in your Rain account, simply click on Receive and select Sui from the list at the top of the page. You can then either copy the address visible at the botom of the screen or share the QR code to to complete your receive transaction.

Make sure that you are using the correct network when receiving Sui to avoid possible loss of funds.

Sui is an advanced Layer-1 blockchain built for high speed, scalability, and low-cost transactions. It uses a new approach to how blockchains process data, allowing faster confirmation times and better support for applications like games, NFTs, and decentralized finance (DeFi). The network’s native token is called SUI, which powers transactions, staking, and on-chain governance.

Who created Sui and when was it launched? Sui was developed by Mysten Labs, a company founded by former Meta engineers who previously worked on the Diem blockchain project. The network launched its mainnet in May 2023, with the goal of delivering a blockchain capable of handling large scale applications with real world performance.

What problem does Sui aim to solve? Many blockchains struggle with congestion and slow transaction speeds when the activity on the network goes up. Sui addresses this by introducing a new object-based data model, which lets transactions that don’t affect each other run in parallel. This design makes Sui faster and more efficient than traditional blockchains that process every transaction one by one.

How does the Sui blockchain work? Sui’s technology is built around a parallel execution engine, which allows multiple transactions to happen at the same time. Validators confirm independent transactions separately instead of waiting in line, significantly reducing network delays. The network uses a Proof-of-Stake (PoS) mechanism, where validators stake SUI tokens to secure the system and earn rewards.

What is the SUI token used for? The SUI token has several key functions within the network. It is used to pay transaction fees, stake to secure the blockchain, and participate in governance decisions. SUI also serves as the base currency for on-chain applications: for example, users can use SUI to mint NFTs, interact with DeFi protocols, or pay for smart contract actions.

What makes Sui unique compared to other blockchains? Sui stands out for its object-based architecture and ability to process transactions in parallel, giving it near-instant finality and high throughput. It’s designed for developers who want to build interactive, data-rich applications without high costs. Sui also uses the Move programming language, originally developed by Meta, which improves security and makes smart contracts easier to audit.

How fast and affordable is Sui? Transactions on Sui confirm in seconds and typically cost a fraction of a cent. The network’s scalability allows it to maintain low fees even when usage is high. This makes it particularly suitable for applications that require frequent small transactions, such as gaming, NFTs, and social apps.

How many SUI tokens exist? Sui has a total supply of 10 billion SUI tokens, with a portion allocated to community programs, ecosystem development, and validator rewards. The remaining supply is distributed to early supporters, investors, and Mysten Labs. The token supply and distribution are managed transparently through governance proposals over time.

How can I buy or store SUI on Rain? You can trade SUI on Rain very easily. To buy SUI, visit the buy page, and select your fiat account or your debit or credit card to complete your purchase within a few moments. We have created this step-by-step guide to walk you through the process. You can also send or receive SUI through your Rain account, or store your SUI using Rain’s secure custodial services. You can always refer to our 24/7 support for any questions or needed assistance.

Is it safe to hold SUI on Rain? Yes. At Rain, your SUI is protected by strong regulatory oversight, advanced security systems, and robust custody practices. As a licensed and regulated platform under the Central Bank of Bahrain and ADGM in the UAE, Rain maintains a strict 1:1 asset to funds ratio and undergoes independent audits to ensure transparency. However, some risks remain outside of Rain’s control, and customers are always advised to conduct their research before trading.