How to Buy Anchor Protocol: Invest in ANC Tokens Today!

The Anchor Protocol is a recently launched Defi project built on the Terra Blockchain and supports various decentralized finance tokens. The protocol operates to combat the volatile nature of cryptocurrency prices and safeguard savings by incorporating a stable yield. 

Anchor Protocol’s native currency is the ANC token. This article examines how to buy Anchor Protocol tokens and any other important details you need to know about the project. 

How to Buy Anchor Protocol – Quickfire Walkthrough To Buy Anchor Protocol In Less Than 10 Minutes 

Anchor Protocol is relatively easy to purchase on both centralized and decentralized exchange platforms – with a maximum supply of 1 billion tokens. However, if you want a seamless experience when buying Anchor Protocol, it is best to opt for a decentralized exchange (DEX) like Pancakeswap.

Here’s how to complete the investment process in less than 10 minutes: 

• Step 1: Get the Trust Wallet: You can efficiently utilize Pancakeswap through the Trust Wallet. All smartphone users can access this wallet and it takes less than a minute to download it from the App or Google Play Store. 
• Step 2: Find Anchor Protocol: Trust Wallet provides a ‘Search’ bar at the upper right corner of your screen. You can type in Anchor Protocol and get an immediate result. 
• Step 3: Deposit Cryptocurrency Tokens Into Your Trust Wallet: You can fund your Trust Wallet by sending some coins from another wallet you own. You may also purchase some through Trust Wallet with Visa or MasterCard. 
• Step 4: Connect to Pancakeswap: The process of connecting to a suitable DEX like Pancakeswap is relatively straightforward. Open your Trust Wallet, locate ‘DEX,’ select Pancakeswap from the available options, and click connect. 
• Step 5: Buy Anchor Protocol: You have now completed all the prerequisite requirements for buying Anchor Protocol. Find ‘Exchange’ on Pancakeswap and subsequently look for the ‘From’ drop-down box to finalize the process. Here, you will select the cryptocurrency asset you bought from Trust Wallet or those you transferred from an external source. 

Then, search for the ‘To’ box on the other side, choose Anchor Protocol, and enter the number of tokens you want to purchase. Note that the quantity cannot exceed the value of the tokens you sent or bought earlier. Finally, you may click ‘Swap’ and complete your exchange. 

Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile. 

How to Buy Anchor Protocol – Full Step-By-Step Walkthrough 

The quickfire guide above on how to buy Anchor Protocol may have given you an idea of what the process is like. However, you will need a more comprehensive guide if you have never used a DEX or bought Defi coin before. 

Below, we have provided sufficient instructions on how to buy Anchor Protocol. 

Step 1: Download Trust Wallet 

Every cryptocurrency holder needs a wallet. If you get Trust Wallet, you can purchase your Anchor Protocol tokens and store them conveniently. Trust Wallet is also very suitable for connecting to a DEX like Pancakeswap. 

• You can download the wallet from the App or Google Play Store and set it up within seconds.
• However, be extra conscious of the password you choose, as it is one of the barricades between you and cryptocurrency hackers.
• Trust Wallet will also give you a unique 12-word passphrase that you should write down and safeguard.

You can use the passphrase to access your wallet if you forget your password or misplace your device.

Trust Wallet also has additional perks, such as its impressive user interface. If you have never used a cryptocurrency wallet before, you will certainly have no difficulty navigating Trust Wallet.

It is also very secure and has an excellent reputation, which explains why it enjoys the support of Binance, one of the world’s top cryptocurrency trading platforms. 

Step 2: Deposit Cryptocurrency In Your Wallet 

The next step is to put some digital currencies in your Trust Wallet, as you cannot buy tokens without them. You can opt for one of these two ways of transferring cryptocurrency tokens into your wallet.

Transfer Cryptocurrency From Another Wallet 

If you have previously dabbled in cryptocurrency, then you may have some tokens in another wallet. You can transfer some of them to your Trust Wallet, but it will be best if they are renowned tokens like Binance Coin, Ethereum, or Bitcoin. 

• Open your Trust Wallet to copy your receiving address. It is a unique cryptocurrency address that Trust Wallet gives you if you want to transfer some tokens from another source. 
• You can then open your other wallet and paste the address you copied in the ‘Send’ section. Ensure you also choose the number of tokens you want to transfer. 
• Finally, complete the exchange. 

You will receive your newly transferred cryptocurrency tokens in about 10 to 20 minutes.  

Buy Cryptocurrency From Trust Wallet

Alternatively, you can buy cryptocurrency from Trust Wallet with your credit/debit card. However, you must first verify your identity by completing the Know Your Customer (KYC) process.

It entails entering your personal details into the app and subsequently providing a legal identity card like your passport or driver’s license. 

Then you can buy cryptocurrency by following the short guide below. 

• Look out for ‘Buy’ at the top-right edge of the Trust Wallet page. Trust Wallet will display all the tokens you can purchase with your credit or debit card. 
• You can choose any cryptocurrency, but we recommend a highly liquid one like BNB, Bitcoin, or Ethereum. In addition, since Anchor Protocol is built on the Terra blockchain, you may also purchase LUNA tokens. 
• Next, type in the quantity you want. 
• To complete the transaction, enter your card information into the Trust Wallet and confirm your trade. 

As you are buying directly from Trust Wallet, you will see the tokens you have just purchased within a few seconds. 

Step 3: How to Buy Anchor Protocol 

Now, you can purchase all the Anchor Protocol tokens you want. But first, if you haven’t connected to Pancakeswap yet, you need to do that. 

Then, you can buy your tokens by following these steps:

• First, click on ‘DEX’ located on the Pancakeswap page, and subsequently choose ‘Swap.’
• Pancakeswap will display a ‘You Pay’ section on this page, and you can choose the tokens you purchased with your card or sent from your other wallet. 
• Then, head to the ‘You Get’ tab, choose Anchor Protocol, and the number of tokens you want. 
• Pancakeswap will show you the number of ACN tokens you can purchase, and it derives this quantity from the coins you bought or sent earlier.  
• To complete your exchange, hit ‘Swap.’

Trust Wallet will immediately reflect that you have successfully purchased some Anchor Protocol tokens. Of course, you can also sell them with Pancakeswap by applying a similar process, but we will elaborate on that in the next section. 

Step 4: How to Sell Anchor Protocol 

Just as you are equipping yourself with how to buy Anchor Protocol, learning to sell the tokens is an important method to complete the process. This is the only way you can realize the profits you have made. 

There are two ways to go about it, and your trading goal determines what one you opt for. 

Swap Them Via Pancakeswap 

One of the benefits of using Pancakeswap is that the DEX lets you execute a complete trade. For instance, you can both buy and sell the tokens available on it seamlessly. So, you can swap your Anchor Protocol tokens for another cryptocurrency of greater or lower value. 

The process is pretty similar to buying, but you will input Anchor Protocol in the ‘You Pay’ section and your new choice of cryptocurrency in ‘You Get.’

Sell Them for Fiat Money 

Alternatively, you can sell your Anchor Protocol tokens for fiat money. However, you have to use a centralized cryptocurrency trading platform to complete this trade.

• Fortunately, Binance and Trust Wallet have a long-standing relationship that lets you move your Anchor Protocol tokens with ease. 
• Binance requires you to complete a KYC process before selling your tokens for fiat money, and it is a simple procedure you can finalize in minutes.

Then, you can sell your Anchor Protocol tokens for real-world cash and withdraw the funds to your bank account. 

Where Can You Buy Anchor Protocol Tokens Online?

As we established earlier, Anchor Protocol has a total market supply of 1 billion tokens. Essentially, this means there is hardly any scarcity, and finding a centralized or decentralized platform to purchase some will be a walk in the park. 

Well, if you want a much more simplified method to buy Anchor Protocol tokens, we suggest you use Pancakeswap. We examine some of its main perks below. 

Pancakeswap – Buy Anchor Protocol Tokens Through a Decentralized Exchange

Pancakeswap is a decentralized exchange, which means it facilitates easy cryptocurrency trades without going through an intermediary. Thus, it eliminates all the hassle and defaults of a centralized financial entity, which explains why Pancakeswap is fast growing in popularity. But of course, it also has several other benefits that account for its growth and popularity.

One of these perks is the DEX’s legitimate passive earning opportunities. With Pancakeswap, if you have some idle Anchor Protocol tokens, you can easily make money off them by either staking the coins or participating in one of the many farming opportunities the DEX offers. You can also acquire some authority and rewards by contributing to the protocol’s liquidity pool. If you elect to engage with high-yield farming,  do so with caution.

Pancakeswap also charges small transaction fees on every exchange, whether large or small. The price typically ranges from $0.04 to $0.20 per trade, which is substantially lower than what you will find on other trading platforms. This perk goes hand-in-hand with its swift execution of your transactions too, even when Pancakeswap is experiencing a lot of traffic.

One of the ways to mitigate your risk of losing big in cryptocurrency is to diversify your trading portfolio. With Pancakeswap, you have access to over 500+ major and minor tokens, making it convenient to diversify your Anchor Protocol investment. You also get to purchase these tokens anonymously if you desire. 

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