BancorHow & Where to Buy Bancor A Step-by-Step Guide to Buying BNT
- Sign up at Gemini, the #1 rated BNT exchange.
- Fund your account with cash or crypto.
- Buy
BNT
- STEP 1Find the Best BNT Exchange
Ease of useVery EasyTime to 1st Buy10 min24h Volume$20,659,392Coins60Founded by the Winklevoss twins, who also conceived Facebook, Gemini is an ultra-convenient and incredibly legitimate platform that has gone through every level of financial scrutiny possible to be the most reliable cryptocurrency exchange in the US. Truly too legit to quit, this is one of the few exchanges where your funds are actually insured in case of theft. USD-only features most of the well-known cryptocurrencies.
Ease of useEasyTime to 1st Buy2 hrs24h Volume$Coins59No platform has been able to attract first-time cryptocurrency investors quite like Coinbase. Each quarter, millions of new users sign up and take advantage of the simplest and smoothest customer purchasing journey in the market. Coinbase also aims to educate beginners, paying them in crypto to learn about different projects.
Ease of useVery EasyTime to 1st Buy24h Volume$Coins361This mobile aggregator platform collects data from all major exchanges, making it possible to swap many cryptocurrencies at highly competitive rates. Mobile app-only CoinSwitch Kuber is India's most popular cryptocurrency exchange service, with over 4 million users. Hassle-free arbitrage and trading process.
Ease of useVery EasyTime to 1st Buy24h Volume$189,010,906Coins92A decade of security, honesty, and transparency has given San Francisco’s Kraken an impressive reputation and helped it become the fourth-largest cryptocurrency exchange in the business. The brokerage service offered by Kraken has more coins to buy and sell directly with cash than most of their competitors. In addition, debit and credit card purchases are permitted with comparably low fees. Well-suited for beginners and those who want to buy and hold coins long-term.
Ease of useVery EasyTime to 1st Buy24h Volume$11,759,697Coins90British cryptocurrency exchange CEX.IO proves that good things come in small packages, with the lowest credit and debit card fees, and one of the best off-ramp processes in the industry. Deposit fees in GBP are given a 50% discount, making them ultra-appealing to UK traders. Founded in 2013, with over 4m registered accounts. Recently branched out to the US.
Go to Gemini and create an account. In some cases, the exchange will need some personal information like email address, phone number, name, address, and a copy of your government ID or passport.
This is completely normal and all exchanges we list on this page have security in place to protect your personal info.
- STEP 2Fund Your Account
It is now time to add funds to your newly created exchange account. This will allow you to purchase Bancor
BNT quickly.Upon signing up at the exchange, you should be shown easy to follow instructions to buy BNT with cash from your bank account or credit or debit card. Some exchanges also accept alternative funding methods such as Paypal, Apple Pay, Skrill, or Sofort by Klarna. You can also deposit any supported cryptocurrencies directly into your exchange account and trade them for BNT.
Frequently Asked Questions About Buying & Selling Bancor (BNT)
How do I Buy BNT with Crypto?
If you want to buy BNT with a cryptocurrency like Bitcoin, Ethereum, Litecoin, XRP, or BNB, then you can simply sign up for Gemini and send your crypto to your account.
You can view the supported cryptocurrencies for the exchange you selected by going to the assets or wallet screen. Once you see a list of coins, you should be able to select one and click "deposit" which will show you the address to send your crypto to Gemini.
You will then copy that address and paste it into the wallet holding your cryptocurrency and send.
Depending on the blockchain used and how quickly the exchange processes deposits, your funds should show up in your exchange balance within minutes.
How do I sell Bancor (BNT)?
To sell BNT, simply reverse the buying process described above. You will likely need to trade your BNT into a USD coin like 
USDT. Look for a "Sell" button in your account wallet and sell for Dollars, then initiate a transfer to your bank account. To withdraw cash to your bank, you will likely need to complete a full KYC (Know Your Customer) process if you haven't already.
What is Bancor?
Bancor is a peer to peer, decentralized, open source smart token network and exchange which offers ERC20 compatible Smart Tokens and uses a native token called the Bancor Network Token (BNT). To access the features of Bancor’s platform-based exchange, users need to purchase Smart Tokens with BNT.
History of Bancor
Originating as an idea in 2016, the Bancor team is comprised of Yehuda Levi (CTO), Ilana Pinchas (VP engineering) and Eyal Hertzog (chief of product) who between them have ample experience in cryptocurrencies. In 2017, the Bprotocol Foundation was created to develop Bancor.
Bancor went live via a crowdsale in June 2017 where 39.6M BNT were sold to the public. A total of 396,720 ETH were raised during the sale, making it one of the most successful at the time. 20% of BNTs were given to partners & bounties and for long-term operation fund of the company, while 10% were kept for the core team. The remaining 50% of the BNTs were made available during the sale.
How Bancor Works
Bancor aims to interlink all the available cryptocurrencies in the world by providing instant liquidity to every coin, token and currency, via its exchange. This is accomplished using the abilities of Smart Tokens, which are tokens with Smart Contracts integrated into them. Each Smart Token holds a value in one of the other ERC20 compatible coins. Thus, anyone can liquidate their holdings in one particular ERC20 compatible coin. Reversely, anyone can purchase a Smart Token, representing one of the ERC20 compatible coins, and new Smart Tokens will be issued. The price of a Smart Token in any of the reserved coins is calculated using a pre-set CRR (Constant Reserve Ratio.)
In addition to cryptocurrencies, Bancor also plans to support popular Fiat currencies like USD and physical assets like gold. In other words, every currency now can be exchanged easily and there is no need for an exchange. Moreover, Bancor allows every coin to have a market value from day 1, without actually entering the market.
Why Bancor?
Bancor is trying to create a paradigm shift in how currencies are trading and thus they offer some great benefits to their users:
- Instant liquidity: Smart Tokens allow exchange users to purchase or liquidate any ERC20 token of their holding instantly, using Smart contracts. Because of their huge array of tokens and cryptocurrencies listed, there is no need to go to another exchange.
- Total ERC20 Compatibility: Whether launched before or after Bancor, any ERC20 compatible coin is compatible with Bancor network by default. Thus, asynchronous price discovery is possible for any ERC20 token.
- No Spread: Spread is the difference between ask price and bid price of a coin/token. As Bancor utilizes Smart Contracts to evaluate a coin, the user always gets the same buy and sell price, eliminating price spread.
- No Counterparty Risk: Instead of trusting a particular exchange to deposit money and to convert it to another currency, the user can easily switch between two currencies using Smart Contract-based Smart Tokens.
- Less Price Slip: Bancor utilizes an algorithm to predict “price slippage,” with respect to the transaction size, and this factor is included in the current price. Thus, the risk of price manipulation by big holders of a currency is reduced.
- Fiat Compatible: Bancor also works for real-world currencies like USD or real-world assets like Gold. Thus, users can easily switch between real-world assets and any ERC20 compatible digital asset, seamlessly.