Table of Contents
1. Choose a crypto exchange
First things first, you need an exchange that both has Nervos Network, and is trustworthy!
You can find our top 3 exchanges for buying Nervos Network 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 Nervos Network
And of course, the final step is to find Nervos Network 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 Nervos Network (CKB)
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How to Sell Nervos Network
- Sign into the exchange
- Find where you stored your Nervos Network, either on a hardware wallet or on the exchange.
- Transfer your Nervos Network to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
- Sell Nervos Network.
Considerations when looking to buy Nervos Network.
CKByte, the native token of Nervos CKB, is called CKByte. It can be used to store value or manage resources within the blockchain. CKByte is a cryptocurrency that can be used to store assets and execute smart contracts. It can also be used to rent space on the blockchain. These are the developers' words, but it is not clear what this means for the project.
CKByte scales by creating value through assets, tokens, data and smart contracts. As the Nervos network expands, the developers anticipate that the CKByte token will be in high demand.
CKByte token sales are scheduled for the third quarter 2019. The fourth quarter of 2019 will see the launch of the mainnet.
The Nervos Network, which is the ecosystem for Nervos, is a collection protocols, layer 2 solutions and CKByte tokens. Nervos developers do not want to introduce "untested consensus mechanisms to achieve high performance, TPS," but prefer layer 2 solutions. Three reasons are there for this.
- Blockchain scaling is unlimited
- Transaction costs are minimal
- There are no risks to the main chain
This is what developers believe will solve the scaling dilemma.
Scalability trilemma refers to a problem in blockchain technology that prevents chains from being decentralized, secure, and scalable simultaneously. They can only possess two of the three qualities. Bitcoin, for example, is decentralized and secure, but it can have problems processing more transactions.