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.
Bancor is an on-chain 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.
Also Read: How to buy Bitcoin | How to buy Ethereum
How to Buy Bancor
There are many ways how to buy Bancor tokens.
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, but it’s also one of the most secure platforms.
Step 1 – Creating a Binance Account:
Create a FREE account on Binance here >>
Once you’ve entered the details, it will prompt you to verify your email address.
Log into your email account, 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.
Follow the on-screen instructions, and your account should be ready.
Step 3 – Purchase Bitcoin
You can purchase directly on Binance and buy Bitcoin directly in USD with credit/debit cards.
The payment options may differ depending on your country, but the process is pretty much the same. If the 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, complete the first three steps before you begin this one.
Go to Bancor’s Bitcoin 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. The market option is to buy the coin/token at the current price, and the limit option is for traders looking to buy at a certain price.
Unless you’re involved in trading, you don’t need to consider the Limit Buy option. Select the percentage of Bitcoins you want to allocate to your preferred altcoin, which 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 them on the exchange.