Every Direct Customer purchase includes a unique purchase code that can be used to activate premium benefits for the plugin such as instant updates and premium templates.  But a purchase code can only be registered on a single WordPress environment.  So if you’re using staging site or localhost in addition to a live site, there are two possible options:

1. Purchase an additional Regular License for your staging site and/or localhost WordPress environment (each purchase includes its own unique purchase code)
2. Build on your staging site or localhost first, and then move the activation over to the live site.

Related Articles:

Where to find the Purchase Code
https://www.themepunch.com/slider-revolution/install-activate-and-update/#register-purchase-code

Reuse Purchase Code:
http://www.themepunch.com/faq/reuse-purchase-code-on-new-site/

Purchase Code not Working:
https://www.themepunch.com/faq/purchase-code-not-working/

Purchase Code FAQ’s:
http://www.themepunch.com/faq/purchase-code-registration-faqs/