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.
Contents
- 1 How to Buy Bancor Network Token—Quickfire Walkthrough to Buy Bancor Network Tokens in Less Than 10 Minutes
- 2 How to Buy Bancor Network Token Online—Full Step-By-Step Walkthrough
- 3 Where to Buy Bancor Network Token Online
- 4 Ways to Buy Bancor Network Token
- 5 Should I Buy Bancor Network Token?
- 6 Risks of Buying Bancor Network Token
- 7 Best Bancor Network Token Wallets
- 8 How to Buy Bancor Network Token—Bottom Line
- 9 Buy Bancor Network Token Now via Pancakeswap
- 10 FAQs
- 11 How much is Bancor Network Token?
- 12 Is Bancor Network Token a good buy?
- 13 What is the minimum Bancor Network Token tokens you can buy?
- 14 What is the Bancor Network Token all-time high?
- 15 How do you buy Bancor Network Tokens using a debit card?
- 16 How many Bancor Network Tokens are there?
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.
- Step 2: Search for Bancor Network Token: After downloading Trust Wallet, install and search for ‘Bancor Network Token.’
- Step 3: 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.
- Step 4: Connect to Pancakeswap: 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.
Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile.
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.
Here you go:
Step 1: Install Trust Wallet
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.
This can be done in two ways:
Transfer Cryptocurrency from an External Wallet
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.
- Confirm the transaction.
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.
- Confirm your transaction.
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
Exchange
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.
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 crypto funds
- 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 Bancor Network Token
There are several ways to buy Bancor Network Token. The one you decide to go with depends on your choice and whether you have any preferences such as payment methods.
The best ways to buy Bancor Network Token are below:
Buy Bancor Network Token using Your Debit/Credit Card
To buy Bancor Network Token using your debit/credit card,
- Fund your wallet (Trust) with fiat money using your debit/credit card.
- Use your card to purchase a common cryptocurrency like Bitcoin or Ethereum.
- Connect your wallet to a DEX like Pancakeswap.
- Swap the cryptocurrency purchased for Bancor Network Token.
Trust Wallet is ideal to buy Bancor Network Token or any other digital asset as it allows you to buy with your debit/credit card. However, since you are buying with fiat money, you will need to complete a KYC process.
Buy Bancor Network Token using Cryptocurrency
The second way to buy Bancor Network Token is by using another digital asset.
- Make sure you have digital assets in an external wallet.
- Transfer the digital assets over to your Trust Wallet.
- Connect to Pancakeswap.
- Swap the digital asset into Bancor Network Token.
Should I Buy Bancor Network Token?
If you’re unsure about buying Bancor Network Token, it is best to do adequate research. This will help you to analyze the pros and cons of Bancor Network Token and make the best decision. That will strengthen your understanding of how to buy Bancor Network Token in a risk-averse manner.
To help you out, below we discuss some of the major things to consider when you want to buy Bancor Network Token.
Low Price
As of the time of writing in mid-July 2021, Bancor Network Token is worth about $2, which is low compared to other cryptocurrencies. In the crypto space, a coin is best bought when it experiences a bearish turn. That way, those who buy the token when it has gone down in value can enjoy an increase if the price eventually goes back up.
Essentially, this could be the best time to buy Bancor Network Token. However, this should rather be determined by informed research on the market activities to ensure you make the right decision.
A Frontrunner for the New Defi Trend
Bancor consists of a group of smart contracts that run the on-chain conversion of digital assets. The contract allows it to effortlessly and quickly convert tokens without going through an exchange platform.
- The protocol's smart contracts handle the liquidity pools that link various tokens usable in the network.
- The primary token utilized on the network is the Bancor Network Token (BNT).
- Presently, Bancor and Uniswap are the frontrunners for this novel DeFi trend. This frontrunner position puts Bancor in a great spot in the cryptocurrency market.
Positions of this nature attract traction to a coin, making Bancor worthy of consideration, albeit subject to research.
Impressive Bancor Pools
Bancor pools have become a great place to earn rewards. As of the time of writing in mid-July, the total liquidity of the pools sits somewhere around the $2.2 billion area.
- With 76.93% BNT staked as of the time of writing, users can leverage the pools to make the most of their Bancor.
- Additionally, while earning rewards from your stakes, you also get to enjoy the network’s loss protection mechanism to mitigate staking risks.
- What more? The protocol has numerous pools to offer. The ETH/BNT pool provides users with over 60% and 7% returns for BNT and ETH, respectively.
Yet, it comes at a low cost of 0.10% fee for each deposited swap. Similarly, the USDC pool also offers 51.17% returns on BNT at a 0.20% fee. Alternative pools include USDT’s, among others.
Taking Advantage of the Dip
In early September 2017, Bancor Network Token was worth about $2. It had an all-time high of $10.00 on the 10th of January, 2018. As of the time of writing in mid-July 2021, it is yet again worth just over $2. This means that entering the market now comes at a discount of 80% when viewed against the all-time high price.
This also gives you a short-to-medium Bancor Network Token target to consider. For example, if you believe in the long-term possibilities of the Defi project and think that Bancor Network Token will eventually exceed a price of over $2, then you just might be in for great returns.
Bancor Network Token Price Prediction
If you want to buy Bancor Network Token, you will want to know its future price. However, it is impossible to determine the worth of a cryptocurrency even in the next few days. After all, digital assets are speculative and highly volatile.
Crypto prices change by the second and can be affected by any alteration in the market, making it difficult to predict. Therefore, it is best to do adequate research to know the viability in the long run. Do not depend on third-party price predictions you see online when thinking about how to buy Bancor Network Token.
Risks of Buying Bancor Network Token
There is no digital asset without its own risk, and Bancor Network Token is not left out. It is a volatile asset with its price affected by market speculations. So, the price can fall at any time, and you should prepare your mind for this.
If the price of Bancor Network Token encounters a bearish run (fall), you will have to wait for an increase to get your original investment back.
But there is no guarantee of the price going up either. Regardless, there are always some ways for you to hedge your risks when buying Bancor Network Token:
- Making small and periodic investments. You can do this by buying Bancor Network Token in small amounts at frequent intervals based on market alterations.
- Enlarge your portfolio by investing in other cryptocurrencies alongside Bancor Network Token.
- Let your research be the basis for you to buy Bancor Network Token.
Best Bancor Network Token Wallets
After buying Bancor Network Token, the next thing to think about is a wallet to store it in. To guide you in the right direction, below are the best Bancor Network Token wallets.
Trust Wallet: Overall Best Bancor Network Wallet
Trust Wallet is a mobile cryptocurrency wallet that allows you to store Bancor Network Token easily. It connects seamlessly to DApps, including Pancakeswap. The wallet is user-friendly, safe for your private keys, and convenient to use.
Another advantage of using Trust Wallet is that it allows you to buy Bancor using your debit/credit card, which is a great plus for newbies. This makes it an excellent wallet to use if you’re just getting started.
Trezor Wallet: Best Hardware Wallet for Bancor Network Token
Trezor Wallet is an easy-to-use hardware wallet to store Bancor Network Token. It enables you to manage your funds and initiate transfers quickly. In addition, it is reviewed by security researchers and allows you to go offline without the fear of your account being hacked.
You can always gain access to your digital assets from your offline backup. After setting up your Trezor Wallet, a seed will be generated for you. This will be needed to restore access to your wallet when recovery is needed.
WalletConnect Wallet: Best Open Source Protocol Wallet for Bancor Network Token
WalletConnect is an open-source protocol wallet for Bancor Network Token, connecting DApps to mobile wallets through deep linking or QR code scanning.
- You can interact securely with any DApp from your mobile device, making WalletConnect a more reliable option than desktop or browser extension wallets.
- WalletConnect is not an application but a protocol supported by different DApps and wallets. To use, install any mobile wallet supporting the WalletConnect protocol and you’re good to go.
WalletConnect can be accessed via both Android and iOS devices. No token is needed, it does not run on a blockchain, and there are no charges to take into account.
How to Buy Bancor Network Token—Bottom Line
Finally, we have taken you through all you need to know on how to buy Bancor Network Token. By now, you understand that the process of how to buy Bancor Network Token is best completed with a decentralized exchange (DEX) like Pancakeswap.
You should not only consider buying Bancor Network Token through Pancakeswap, but also use Trust Wallet to support the process. The wallet gives you the advantage of making deposits with your debit/credit card, and that’s a needed functionality.
Buy Bancor Network Token Now via Pancakeswap
Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile.
FAQs
Being a volatile asset, the price of Bancor Network Token changes. But as at the time of writing in mid-July, 2021, it is worth over $2 per token.
Bancor Network Token might be a cryptocurrency with potential, yet volatile. As such, ensure you do your research before investing.
You can buy a fraction of Bancor Network Token. Essentially, you can buy as little or as much as you want.
Bancor Network Token had an all-time high on 10 January, 2018, when it was priced at $10.
To buy Bancor Network Token using debit/credit card, you first have to get a wallet, preferably Trust Wallet. Trust wallet will allow you to buy any popular cryptocurrency of your choice, which you’ll swap for Bancor Network Tokens. Once you buy the digital asset, connect your Trust Wallet to Pancakeswap and exchange the cryptocurrency for the amount of Bancor Network Tokens you want. That’s it!
Bancor Network Token has a total and circulating supply of over 232 million tokens. As at the time of writing in July 2021, it has a market cap of over $653 million. How much is Bancor Network Token?
Is Bancor Network Token a good buy?
What is the minimum Bancor Network Token tokens you can buy?
What is the Bancor Network Token all-time high?
How do you buy Bancor Network Tokens using a debit card?
How many Bancor Network Tokens are there?
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