How to buy Band Protocol (BAND) in Australia
A beginner's guide to buying and selling BAND in Australia.
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How to buy Band Protocol
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Band Protocol.
- Open an account on an exchange that supports BAND.
Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
- 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 Band Protocol.
- Buy Band Protocol.
Complete your Band Protocol purchase and then find the best wallet to store BAND.
What is Band Protocol?
The Band Protocol can be thought of as a digital oracle – a program that connects blockchain systems with real-world data. Using the platform, decentralised smart contracts can procure real-time off-chain information in a highly seamless manner. Alternatively, one can think of Band as being a software ecosystem that incentivises users whenever they supply data to dapps (that may be operating across a host of different blockchains). Though originally operating exclusively within the Ethereum network, Band has now transitioned to its very own blockchain, allowing it to transmit data between various blockchains. In this regard, the ecosystem’s native BAND token is used for payments, rewards and various other governance-related tasks. Not only that, but the currency can be staked by users in return for a variety of incentives.
Band Protocol (BAND) is the 206th largest cryptocurrency in the world by market cap, valued at $344,059,569. The current price of Band Protocol is $8.35, which is 0.265% lower than yesterday. Prices have ranged between $8.51 and $7.83 over the past 24 hours. All prices are listed in US dollars and accurate as of October 16, 2021 11:10 UTC.
Where to buy Band ProtocolFind an exchange to buy, sell and trade BAND by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Band Protocol at a glance
|Total BAND supply||100,000,000|
|Notable team members||Soravis Srinawakoon, Sorawit Suriyakarn, Paul Nattapatsiri|
|Partnerships||Brave New Coin, Komodo, Polygon, Fantom, CoinGecko, ICON Network, Frontier|
|Token uses||Platform fees, governance, staking|
Band Protocol price performance over time
How to sell Band Protocol
You can cash out your BAND with the same exchange you bought it through:
- Sign in to the exchange you have BAND on.
If you store your Band Protocol in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of BAND you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Band Protocol.
What to consider when buying Band ProtocolBelow are the aspects you should consider before investing in BAND:
- Chain-agnostic: Band Protocol has been designed to be compatible with a wide array of blockchain networks, potentially spurring its value even further, especially as more and more dapps continue to be built outside of the Ethereum ecosystem.
- Mainstream use cases: At present, Band is used most widely within the crypto-finance sphere, with the platform currently working with a wide range of prominent data providers including Binance and CoinGecko. Furthermore, the protocol’s use cases are not limited to the finance sector. In the future, Band can potentially be employed in relation to a whole host of other domains including live scoring, weather tracking, esports data streaming and much more.
- Prominent partnerships and financial backing: The Band Protocol team has entered into a number of noteworthy partnerships over the last couple of years. For example, the platform has become a part of the OpenAPI Initiative in conjunction with mainstream tech giants such as Google and Microsoft. Also, back in 2019, Band was able to raise $3 million from a number of prominent venture capital firms, including Sequoia Capital. The same year, the company was able to raise an additional $5.85 million as part of its initial exchange offering (IEO).
- Limitations: Even though Band markets itself as being blockchain agnostic, its native blockchain ecosystem has been built atop Cosmos, a platform that has been dubbed as the “Internet of blockchains” since it allows for a high degree of cross-chain compatibility. Thus, it stands to reason that Band’s future success may largely be tied to Cosmos’s future adoption since the Ethereum oracle market is currently dominated by another project called Chainlink.
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