Table of Contents
1. Choose a crypto exchange
First things first, you need an exchange that both has Bancor, and is trustworthy!
You can find our top 3 exchanges for buying Bancor here, alternatively you can also check our comparison of the best Australian cryptocurrency exchanges if you’re generally interested in seeing which exchanges work for Australians.
2. Sign up with the crypto exchange
Once you’ve chosen your crypto exchange, it’s just a matter of signing up and getting your account verified. Most exchanges have streamlined this process very well so it shouldn’t take long.
3. Fund your account
The next step is to transfer AUD or another cryptocurrency into your account. Most top crypto exchanges offer various payment methods. From bank transfer to PayID, POLi pay and credit cards, it’s very straightforward.
4. Buy Bancor
And of course, the final step is to find Bancor on the exchange and buy it. A lot of exchanges offer different ways of buying cryptocurrencies, like market orders and limit orders.
Where to Buy Bancor (BNT)
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How to Sell Bancor
- Sign into the exchange
- Find where you stored your Bancor, either on a hardware wallet or on the exchange.
- Transfer your Bancor to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
- Sell Bancor.
Considerations when looking to buy Bancor.
Bancor is the only protocol that decentralizes staking and allows you to make money with a single token exposure while also providing full protection against impermanent losses. Bancor was launched in 2017 and is the first DeFi protocol.
It generates millions of dollars in monthly fees for depositors and offers up to 60% APR tokens such as ETH, WBTC or MATIC. Bancor DAO is a decentralized autonomous organisation owned by the community.
The "Bancor Network Token," BNT, is the protocol token that is used to access the network. The protocol token is used by traders to provide liquidity to the available pools on the network. Anyone can contribute liquidity. Liquidity providers can contribute liquidity to a pool and are eligible for fees to trades that pass through it. Pool tokens will be given to liquidity providers. These tokens represent their share in liquidity, fees and Liquidity Mining Rewards.
Bancor, which is among the most audited and longest-running crypto projects, has received stellar ratings from top auditors such as Certik, PeckShield and Halborn. DeFiSafety gave Bancor a 96% safety score in 2021.