How to Buy Bancor | Step-By-Step Guide

This step by step guide shows how to buy Bancor (BNT).

If you're looking to invest in this cryptocurrency, this tutorial is all you need to follow.

With that said, let's begin.

What Is Bancor (BNT)

Bancor or BNT is a cryptocurrency token that you can invest in. As an investor, it often pays to do some research before you invest in a project to improve your odds in the long run.

How to Buy Bancor

Bancor is an onchain liquidity protocol that enables an automated decentralized exchange on various blockchains including Ethereum.

The protocol is made up of several smart contracts designed to pool liquidity and for performing peer-to-peer contract trades in a single transaction with no counterparty. 

How to Buy Bancor

There are many ways on how to buy Bancor token.

One of the most popular and secure sources to buy BNT is a cryptocurrency exchange called Binance. It will let you buy some with Ether or BTC or with fiat currency depending on your preference.

Binance has been one of the top exchanges for nearly 3 years, and is one of the largest by volume. Not only does it support a range of altcoins/alternative coins, it's also one of the most secure platform.

Step 1 - Creating a Binance Account:

Once you've entered the details, it will prompt you to verify your email address.

Log into your email account, and find the verification code and get your account verified.

Step 2 - Setting It Up

Once you've completed the first step, you'll be greeted by a familiar dashboard.

Before you go ahead and make a purchase, it's always a good idea to get your identity verified. This will also secure your account and prevent unauthorized access in the future.

Just follow the on-screen instructions and your account should be ready in no time.

Step 3 - Purchase Bitcoin

You can make a purchase directly on Binance and buy Bitcoin directly in USD with credit/debit cards.

The payment options may be slightly different depending on your country, but the process is pretty much the same. If US dollar (USD) is not your primary currency, it has several other options in there.

Once you've purchased some Bitcoins, you can either store them in your Binance wallet or exchange it for altcoins like Ethereum or rather Bancor in this case.

Step 4 - How To Buy Bancor (BNT)

That brings us to the final step. Here we will be exchanging/trading Bitcoin or Ethereum for Bancor coin.

If you're reading this step, you already have Bitcoin/Ethereum ready in your account. If not, make sure to complete the first three steps before you begin this one.

Go to Bancor's Bitcoin pair or Ethereum pair depending on what you already possess.

Depending on how much of Bancor you may want to buy, select your options.

If you want to trade all your Bitcoin for Bancor, select 100% in the Buy options and click buy. Market option is to buy the coin/token at the current price, and the limit option is for traders who are looking to buy at a certain price.

Unless you're involved in trading, you don't need to consider the Limit Buy option. Just select the percentage of your Bitcoins that you want to allocate to your preferred altcoin, and it will sit in your hot wallet.

Final Words & Conclusion

That brings us to the conclusion of this 'how to buy Bancor (BNT)' guide. We hope this helped you make a purchase. If not, did you get stuck on any step? Or did we miss anything in this step by step tutorial?

Either way, let us know by leaving a quick comment down below.

Once you've purchased Bancor (BNT) or any other cryptocurrency of your choice, be sure to strengthen the security of your Binance account so it's never compromised.

A two-step authentication application like Google Authenticator should greatly help secure your account if you don't have an existing authentication app. You can also withdraw your tokens to a compatible wallet if you don't want to leave it on the exchange.