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Bancor Network (BNT): How it works and where to buy it

Learn more about Bancor Network, why the BNT token is useful and where to buy it.

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Learn about Bancor Network Learn more
Where to buy BNT Find BNT exchanges

Bancor Network Tokens (BNT) are the native tokens of Bancor Network.

The Bancor Network is a series of permissionless liquidity pools designed to facilitate more seamless trading and accessible liquidity in the DeFi space.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
CryptocurrencyBNT
Circulating supply~66,000,000 BNT
Maximum supplyVaries with demand
TypeERC20
PurposeMulti-purpose utility token

What is DeFi and why is it a crypto trend to watch?

How does Bancor Network work?

At its heart, Bancor Network is a series of liquidity pools. It is intended to serve as a decentralised and permissionless alternative to the market making schemes which provide liquidity in centralised systems.

Put simply, its purpose is to ensure that people can make crypto-to-crypto trades faster and at lower cost. It builds these liquidity pools by rewarding people who make deposits into the Bancor Network pools.

The BNT token serves multiple purposes in this system: it's an incentive mechanism, an admission token, an intermediary currency to help grease the wheels and a governance token.

What does BNT do?

BNT serves multiple functions:

  • Admission token. People are required to deposit BNT proportional to the amount of their other deposits.
  • Incentive. Rewards, in the form of a cut of the Bancor Network trading fees, can be paid to liquidity providers.
  • Intermediary currency. As a native, plentiful currency in the Bancor Network, BNT is available as an intermediary currency to enable more seamless exchanges.
  • Governance. BNT token holders can exercise governance rights over the network, for example, by voting on whether network fees are distributed to token holders.

How to buy BNT

Here's a step-by-step guide on one way of buying BNT. Note that there might be other options available, so you may want to compare cryptocurrency exchanges to find the one that's right for you.


Name Product Deposit methods Fiat Currencies Cryptocurrencies
Credit card,Cryptocurrency,Debit card,Bank transfer (via third party)
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 23+ more

201
cryptocurrencies

Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Bank transfer,POLi,Osko,PayID
AUD

130
cryptocurrencies

Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
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Compare up to 4 providers

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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