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How to buy Bancor Network Token

1. Compare crypto exchanges
The easiest way to buy Bancor Network Token is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.

2. Create an account
To create an account on an exchange you will need to verify your email address and identity. Have some photo ID and your phone ready.

3. Make a deposit
Once verified, you can deposit $ using the payment method that best suits you – bank transfer, bpay, cash and cryptocurrency payments are widely accepted.

4. Buy Bancor Network Token
You can now exchange your funds for Bancor Network Token. On easier-to-use exchanges, this is as easy as entering the amount you want to purchase and clicking buy. If you like you can now withdraw your Bancor Network Token to your personal wallet.
Where to buy Bancor Network Token in Australia
Find an exchange to buy, sell and trade BNT by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Steps on how to buy Bancor Network Token
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Bancor Network Token.
- Compare cryptocurrency exchanges that support BNT.
Cryptocurrency exchanges differ by fees, security and payment methods, so you'll need to research which is the right fit for you. As a beginner, you don't need a big range of features, and you can always change exchanges later. - Create an account on an exchange.
You can sign up for an account by selecting the Go to site button. This will take you to the account creation page, where you can fill in your details, starting with your name and email address.. - Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Bancor Network Token. - Buy Bancor Network Token.
Complete your Bancor Network Token purchase and then find the best wallet to store BNT.
What to consider when buying Bancor Network Token
Before acquiring any cryptocurrency, it’s essential to thoroughly research your purchase and be fully aware of any risks involved. Cryptocurrencies are complex and speculative, so make sure you consider a wide range of factors before you buy.
If you’re thinking of buying BNT, take the following into account:
- Tokenomics: Unlike many other tokens, BNT can be both inflationary and deflationary. Most newly created BNT tokens are only created to match the token (TKN) liquidity that is staked on the platform. This is done to provide impermanent loss protection to users, which incentivises the use of the platform. When TKN liquidity is removed or BNT is staked by users, the protocol-minted BNT is burned (just as though it never existed), along with the fees it accrues. This should ultimately be deflationary for BNT. The elastic supply of BNT is to provide liquidity to the platform and should not be detrimental to BNTs price.
- Competitors: Bancor is just one of many decentralised protocols attempting to provide liquidity to traders. Automated market makers (AMM) have become quite popular as the DeFi ecosystem has evolved, with major players like Uniswap and PancakeSwap cornering a large portion of the market.
- Use-case: Beyond providing liquidity and participating in Bancor’s pools, the BNT token has a number of other uses. BNT can be staked in exchange for additional rewards. In the latest V2 update, those that stake BNT will be issued vBNT which can be used for governance rights on the Bancor platform or be used in further staking opportunities. vBNT holders can participate in governance by voting on proposals pertaining to the development of the Bancor platform.
How to sell Bancor Network Token
You can cash out your BNT with the same exchange you bought it through:
- Sign in to the exchange you have BNT on.
If you store your Bancor Network Token in a digital wallet, compare crypto exchanges to sell it on. - Place a sell order.
Choose the amount of BNT you'd like to sell. - Complete your transaction.
Confirm the sell price and fees and close your sale of Bancor Network Token.
Disclaimer: Cryptocurrencies, including Bancor Network Token, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of BNT 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 Bancor Network Token or any other cryptocurrency discussed.
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