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 coins 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. 

Pros:

  • Exchange digital currencies in a decentralized manner
  • No requirement to use a third party when buying and selling cryptocurrency
  • Supports a sizable number of digital tokens
  • Allows you to earn interest on your idle digital assets
  • Sufficient levels of liquidity – even on smaller tokens
  • Prediction and lottery games


Cons:

  • Might appear daunting at first glance for newbies
  • Does not support fiat payments directly

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

Ways to Buy Anchor Protocol 

There are two established ways to buy Anchor Protocol online, and the digital assets you already hold will largely determine the one you choose. 

Buy Anchor Protocol With Cryptocurrency 

Now, you can only choose this method if you have some digital tokens in another wallet. You may decide to send some to your Trust, establish a connection between the wallet and Pancakeswap, and finally swap the tokens for Anchor Protocol. 

Buy Anchor Protocol With a Credit/Debit Card 

On the other hand, you can directly purchase the tokens you will use to buy Anchor Protocol from Trust Wallet. Complete its KYC process first, enter your debit/credit card details where required, and buy the tokens you will use for the exchange. 

Next, you can create a connection between Pancakeswap and your Trust Wallet, and purchase your Anchor Protocol tokens. 

Should I Buy Anchor Protocol?

You may be wondering if Anchor Protocol will be a profitable investment. Well, there is only one way to find out. But to get there, you will have to engage in detailed research and understand why the project exists entirely. This will indeed complement your knowledge of how to buy Anchor Protocol

In the meantime, you may consider some of the unique features of the Anchor Protocol discussed below. You can leverage them to shape your perspective of the coin.

Smart Savings 

The essence of the Anchor Protocol project is to create smart savings for cryptocurrency holders. Cryptocurrency is a volatile asset, which means that conventional platforms will refrain from building a savings system based on it. However, Anchor Protocol has figured out how to stabilize your assets when you save them on the network. 

The protocol provides a low-volatility yield, which means you can actively save your digital tokens without worrying about instability in the market. This way, you get to avoid centralized financial systems and still enjoy the perks of earning regular income! 

Established Cryptocurrency Project

Anchor Protocol runs on a legitimate ecosystem, which makes it a viable project.

  • It is built on the Terra blockchain. Terra itself subsequently runs on a couple of legitimate blockchains, including Solana and Ethereum. 
  • Since Anchor Protocol has the backing of established cryptocurrency blockchains, there’s an impressive assurance about the project’s credibility.
  • Additionally, the founders are acclaimed to be working on excellent features that make the project even more attractive in the market.

However, it is best to make your buying decision independently and only after in-depth research. 

Growth Trajectory 

One Anchor Protocol token is currently worth about $2 in the cryptocurrency market today. This is the relevant price as of the time of writing in early August 2021. The protocol hit an all-time high of $8.31 on 19 March 2021, less than six months prior to this guide. On the other hand, it has an all-time low of $1.71, which it attained on 28 July 2021. 

If you had bought Anchor Protocol when the project was at its lowest, you would have enjoyed an increase of over 75% at the coin’s all-time high. 

Low Price 

As noted above, Anchor Protocol has a price of just over $2, as of early August 2021

  • This is certainly low when you compare it to renowned cryptocurrencies like Ethereum or Bitcoin, meaning you get more coins for even a small investment.
  • As such, this feature may be what makes it a great investment opportunity, especially if the price shoots up soon.
  • Furthermore, the project is built on a legitimate basis; as such, it can possibly grow past its prior peaks.

With Anchor Protocol, you get to practice this proven trading strategy. But of course, it is necessary to research deeply first. 

Anchor Protocol Price Prediction

If you are looking to invest in Anchor Protocol, you may be wondering what your returns will be in the near future. This may lead you to seek out Anchor Protocol price predictions, which are sometimes correct, but mostly inaccurate.

Therefore, if you hope to avoid dire losses, it will be best to understand how viable Anchor Protocol is as a project before you delve into it. Hence, avoid basing your purchasing process entirely on third-party Anchor Protocol price predictions. 

Risk of Buying Anchor Protocol 

Purchasing any cryptocurrency has a level of risk attached. The most significant is that you buy some Anchor Protocol tokens right before the price spirals down.

  • If you sell while the price is low, you will incur some losses, which means your ability to profit will be to wait. 
  • However, no one particularly knows if the price will shoot back up or even when that may happen.
  • Cryptocurrency is very volatile, but you can lower your chances of incurring huge losses by researching properly before buying some Anchor Protocol tokens.

It also helps if you diversify your portfolio and purchase small quantities at periodic intervals. 

Best Anchor Protocol Wallets

This page contains a full guide on how to buy ANC tokens, and it also entails the best wallet you can use to store your coins. To simplify the process for you, we have considered all the essential attributes you have to look out for in a top-rated wallet. 

As such, we have selected three of the most suitable wallets for your Anchor Protocol tokens. 

Trust Wallet - Overall Best Anchor Protocol Tokens 

Trust Wallet is suitable for centralized and decentralized exchanges, is user-friendly, and securely stores your Anchor Protocol tokens.

The wallet also accommodates diverse cryptocurrencies, and you can easily access them on your iOS or Android device. Trust Wallet is also a well-rated wallet and the official storage facility of one of the world's renowned trading platforms - Binance.

Trezor Wallet - Best Anchor Protocol Wallet for Security 

Trezor Wallet stores cryptocurrency private keys offline because it is a hardware storage unit. It makes it quite impossible for hackers of any pedigree to access your Anchor Protocol tokens, as they are never available online.

Trezor Wallet is also very affordable and easily accessible. You can purchase your Trezor Wallet directly from the manufacturer. 

imToken Wallet - Best Anchor Protocol Wallet for Convenience 

imToken Wallet is perfect for conveniently storing your Anchor Protocol tokens. It accommodates well over 200+ different tokens, making it very easy for you to purchase and hold a wide range of cryptocurrencies. The wallet is also very secure, has a hardware wallet option, and is easy to navigate.

How to Buy Anchor Protocol - Bottom Line 

Purchasing Anchor Protocol is relatively easy once you look for instructions in the right place. You are now equipped with enough information on how to buy Anchor Protocol tokens, and you can begin the process by downloading the Trust Wallet and connecting it to Pancakeswap. 

Follow this guide carefully and you’ll be on your way to becoming an expert trader of Defi coins.

Buy Anchor Protocol Now via Pancakeswap

 

 

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

FAQs

How much is Anchor Protocol?

Start by understanding that the price of cryptocurrencies fluctuates, meaning what you see now might be different from the price you get in the following minute. Regardless, as at the time of writing in early August 2021, one Anchor Protocol token sits somewhere around $2.

Is Anchor Protocol a good buy?

Anchor Protocol has numerous features you could consider before making your final investment decision. However, it is advisable that you research thoroughly on the coin before deciding to buy.

What is the minimum Anchor Protocol tokens you can buy?

Your investment goal determines the amount you will buy. You’re allowed to buy in thousands and simultaneously, you can buy a tiny fraction.

What is the Anchor Protocol all-time high?

On 19 March 2021, Anchor Protocol hit its all-time high of $8.31.

How do you buy Anchor Protocol tokens using a debit card?

Buying Anchor Protocol directly with your debit/credit card is not possible when using a DEX. As such, you have to first use your card on Trust Wallet to buy a major coin like Ethereum. Then, proceed to exchange the coin for Anchor Protocol on Pancakeswap.

How many Anchor Protocol tokens are there?

Anchor Protocol has a circulating supply of over 94 million tokens, while there is a total of 1 billion in existence. Furthermore, the coin has a market cap of over $230 million as of mid-2021.