How to Buy Bancor Network Token: Invest in BNT Today

Bancor Network Token was founded by Yudi Levi, Guy Benartzi, Galia Benartzi, and Eyal Hertzog. They all came together with their proven skills to build the first ‘intelligent’ token based on blockchain technology. 

The Bancor Network is reputed to have held one of the most revered ICOs ever. In this guide, we will take you through how to buy Bancor Network Token (BNT) and the best cryptocurrency platforms to consider when completing your purchase.  

How to Buy Bancor Network Token—Quickfire Walkthrough to Buy Bancor Network Tokens in Less Than 10 Minutes 

One of the unique features of Bancor Network Token is that it enables a seamless conversion of digital assets. This takes away the need for an intermediary or central figure when transacting. 

Bancor is a Defi coin, making it more suitably bought through a DEX like Pancakeswap. Pancakeswap makes the process more convenient and also comes with low costs.

With the 5 steps below, you can buy Bancor Network Tokens in less than 10 minutes.

• Step 1: Own a Trust Wallet: To use Pancakeswap, you need a suitable wallet. For this, we suggest Trust Wallet because it offers you seamless access to Pancakeswap. You can use Trust Wallet on your mobile device by downloading via Google Playstore or iOS. 
• 2 ደረጃ: Search for Bancor Network Token: After downloading Trust Wallet, install and search for ‘Bancor Network Token.’
• 3 ደረጃ: Credit your Trust Wallet: The next thing to do is to fund your Trust Wallet. You can either use your debit/credit card or transfer cryptocurrency from another wallet. 
• 4 ደረጃ: ከፓንኮኮች መለዋወጥ ጋር ይገናኙ Check below your Trust Wallet app to find ‘DApps.’ Click and select ‘Pancakeswap.’’ Continue by clicking the connect button to link Pancakeswap to your Trust Wallet. 
• Step 5: Buy Bancor Network Token: Once you have connected Pancakeswap to your Trust Wallet, click on the ‘Exchange’ button. Proceed to select the cryptocurrency you want to swap for Bancor Network Token. Type in the amount of Bancor Network Tokens you want to buy and end the process by clicking on the ‘Swap’ icon. 

The tokens purchased go straight to your Trust Wallet where they are safely secured. There you go – you have just learned how to buy Bancor Network Tokens! 

Likewise, you can use your Trust Wallet to sell your Bancor Network Tokens when you’re ready to cash out. 

ምስጢራዊ ምንዛሪዎችን ሲገዙ ሁል ጊዜ የሚከሰቱትን አደጋዎች ያስቡ ፡፡ ዲጂታል ሀብቶች በጣም ግምታዊ እና ተለዋዋጭ ናቸው። 

How to Buy Bancor Network Token Online—Full Step-By-Step Walkthrough

The quick walkthrough above might seem a little brisk, especially if you’re a first-timer at this. But, not to worry, we have provided more in-depth steps below, tailored to give you a detailed explanation on how to buy Bancor Network Token.

ይሄውሎት: 

ደረጃ 1: የታመነ የኪስ ቦርሳ ይጫኑ

For newbies in the crypto market, a wallet comes in the form of software (can be hardware too) that stores both your coins and private keys.

For example, Trust Wallet is a mobile wallet that allows you to buy, sell and swap cryptocurrencies. It provides you with maximum security and makes it easy to store digital assets. 

Backed by the biggest cryptocurrency exchange globally—Binance—the wallet has garnered an impressive credibility level. You can download the Trust Wallet app via Google Playstore or Appstore, depending on your device. Once installed, open and follow the steps to create an account. 

Your login details will include your PIN and a 12-word passphrase. The PIN grants you access to the app every time you open it. On the other hand, the passphrase helps for recovering your account should you forget your login details or lose your phone.  

Step 2: Credit your Trust Wallet

After downloading and setting up your wallet, the next thing is to fund it.

ይህ በሁለት መንገዶች ሊከናወን ይችላል- 

ከውጭ የኪስ ቦርሳ ውስጥ Cryptocurrency ን ያስተላልፉ

To credit your Trust Wallet, you can transfer cryptocurrency from an external wallet if you already have digital tokens there. 

To initiate a transfer:

• Click ‘Receive’ on your Trust Wallet and choose the cryptocurrency you want to transfer over. 
• Copy the unique address sent after clicking receive and proceed to the external wallet. 
• Paste the address copied from your Trust Wallet and choose the number of coins you want to have transferred.
• ግብይቱን ያረጋግጡ። 

In less than 5-10 minutes, you will receive the cryptocurrency in your Trust Wallet. 

Add Funds with a Debit/Credit Card

If this is your first time in the cryptocurrency market, you might not have any digital assets stored in a wallet. However, an advantage of using Trust Wallet is that it allows you to fund your account through a debit/credit card. 

To fund your account with a debit/credit card,

• Click on the ‘Buy’ icon situated at the right-hand of the Trust Wallet app. 
• Choose a coin from the list that pops up. It is preferable to buy Binance Coin (BNB) or any popular coins like Bitcoin.
• You will be asked to complete a Know Your Customer (KYC) process because you are buying cryptocurrency using fiat money. This requires you to enter some personal information and upload a government-issued ID. 
• Once that is done, enter your card details and the number of tokens you want to buy.
• ግብይትዎን ያረጋግጡ። 

The crypto purchased will be credited to your wallet immediately after the transaction is confirmed. 

Step 3: How to Buy Bancor Network Token through Pancakeswap

After purchasing a digital token, the next thing is to proceed to Pancakeswap and buy Bancor Network Token through a direct swap process. 

Essentially, this direct swap process means that you exchange one cryptocurrency for another. So, for example, you can receive Bancor Network Tokens in exchange for BNB.

Here’s how to go about the process:

• Click on the ‘DEX’ button to gain access to the Swap menu. 
• This will direct you to a ‘You Pay’ and ‘You Get’ screen.
• Choose the token you want to pay with on the ‘You Pay’ menu. Here, you choose the cryptocurrency you have transferred in your Trust Wallet, as done in Step 2.
• Click on the ‘You Get’ tab to pick Bancor Network Token from the list of tokens displayed. 

You will be shown the Bancor Network Token equivalent to the cryptocurrency you want to swap with. For example, 1 Bancor Network Token (BNT) is equivalent to 0.0015 ETH at the time of writing in mid-July 2021. Click on the ‘Swap’ button.

You will be directed to a confirmation screen where you will click on ‘Send’ to complete your transaction. Following this simple process, you have successfully bought Bancor Network Tokens using Pancakeswap. 

Step 4: How to Sell Bancor Network Token

A complete guide on how to buy Bancor Network Token must also entail the selling procedure. You can invest in cryptocurrencies like Bancor for several reasons, one of them being financial gains. Depending on your strategy, you can consider two options for selling your Bancor Network Tokens.

• Sell into a different cryptocurrency. This way, you can use Pancakeswap to initiate the process, as explained in Step 3. In this case, the cryptocurrency you are paying with is Bancor Network Token. In return, you will select a different digital asset of your choice – such as Binance Coin.  
• Trade into fiat money. Here, you will be required to use a third-party exchange and complete a KYC process. This is due to anti-money laundering regulations.

Where to Buy Bancor Network Token Online

As of mid-July 2021, Bancor Network Token has a 24-hour trading volume of over $23 million and over $1 billion Total Value Locked (TVL). In addition, the Defi coin has realized millions of dollars via staking, which are issued to Bancor Network Token (BNT) stakers.

This has made the project experience a positive market shift, making it listed on several decentralized platforms. As expected, numerous platforms offer exchange services for this coin. However, for a proper understanding of how to buy Bancor Network Token, you need to know the best place for this.

That is Pancakeswap, and here are the reasons:

Pancakeswap—Buy Bancor Network Token with a Decentralized መለዋወጥ

Pancakeswap is an alternative Automated Market Maker (AMM) to Uniswap (UNI). It was launched on the Binance Chain and now has more Total Value Locked (TVL) than Uniswap. It has high daily transactions as well as contract interactions. The exchange is the most pre-eminent DApp on the Binance Smart Chain and is viewed by many as a project with unlimited potential. 

There are farms where Pancakeswap users can provide liquidity in the form of an asset pair such as CAKE and Bancor Network Token (BNT) – to receive CAKE tokens in return. These farms can generate impressive returns but carry more risks if you give liquidity to a highly volatile asset. This is in addition to the fact that you can earn on your idle Bancor tokens. All of this makes Pancakeswap a network that operates to serve investors’ interests. 

Furthermore, the platform helps to rectify numerous issues that currently irk the centralized market. Pancakeswap has secured itself as a viable alternative to all other exchanges through its innovative strategy and commitment to security. Moreover, it operates at an execution speed of about 5 seconds on average and generally involves low operation costs. For a beginner, the exchange is most suitable because of its simplicity and basic trading functions.

To use Pancakeswap, get a compatible wallet like Trust Wallet. Others you can use include SafePay Wallet, MetaMask, and TokenPocket. Fund your wallet, and proceed to buy your Bancor Network Token by swapping with the cryptocurrency already bought. Pancakeswap also supports buying of other kinds of tokens as it is the place for many Defi coin. 

ጥቅሙንና:

የእኛን ነፃ የቴሌግራም ቡድን አሁን ይቀላቀሉ!