Table of Contents
1. Choose a crypto exchange
First things first, you need an exchange that both has Band Protocol, and is trustworthy!
You can find our top 3 exchanges for buying Band Protocol here, alternatively you can also check our comparison of the best Australian crypto trading platforms, 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 Band Protocol
And of course, the final step is to find Band Protocol 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 Band Protocol (BAND)
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How to Sell Band Protocol
- Sign into the exchange
- Find where you stored your Band Protocol, either on a hardware wallet or on the exchange.
- Transfer your Band Protocol to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
- Sell Band Protocol.
Considerations when looking to buy Band Protocol.
Band Protocol is a cross chain data oracle platform. It can take real-world data, supply it to onchain applications, and also connect APIs to smart contracts to facilitate information exchange between off-chain and on-chain data sources.
Band Protocol provides reputable, verifiable, real-world data to blockchains. This opens up a wide range of possibilities for developers -- they can now use any type real-world data in their decentralized app logic (DApp).
Band Protocol was initially launched on September 2019 as an ERC-20 project using the Ethereum blockchain. However, Band Protocol 2.0 made the transition to the Cosmos network in May 2020. The Cosmos SDK is used to build the new protocol. Oracle nodes on BandChain not only relay data but are also involved in block production/validation, giving them a dual role.
BAND is the native token in the Band Protocol ecosystem. It is used by validators to fulfill data requests and as collateral. BandChain is also the main medium for exchange. BandChain can be used to pay for private data.
Band Protocol is faster and more efficient that other oracle solutions. It is compatible with many blockchain and smart contract development frameworks, ensuring reliable data can flow to and from multiple blockchains.
Band Protocol will use Cosmos' Inter Blockchain Communication protocol (IBC), to achieve cross-chain data transfers. It is not yet clear how long it will take for the IBC to become operational and ready for use.
Band Protocol allows anyone to create an oracle without permission. Band Protocol also allows developers to integrate smart contracts with very few lines of code. They can call a predefined interface and use Band Protocol data to start using.