The 5 Best Ways To Buy Bancor Network Token (BNT) In 2022

What Are The Best Ways To Buy Bancor (BNT) In 2022?

Last Updated October 2nd 2022
12 Min Read

Bancor brought automated market makers to the Ethereum blockchain in 2017. In this article, Trading Education shares our top 5 best ways to buy Bancor Network Token (BNT) in 2022. In the end, you will learn about the essential factors to consider before deciding on the best crypto exchanges to buy Bancor.

Bancor is the first decentralized finance protocol or application. With roots in decentralized staking, the decentralized exchange protocol allows you to earn money with single token exposure and full impermanent loss. 

Bancor has become a mainstay in the DeFi space. The extensive use of the Bancor Network has brought great attention to its native token, BNT. 

This is because Bancor rewards users for the provision of crypto tokens to its application and uses the tokens to facilitate trades for other users worldwide. 

Many investors have taken advantage of the dip in the crypto finance market to add BNT to their respective portfolios. 

Once you can answer how to buy BNT and where can I buy BNT, you will realize that it is extremely easy to find the best cryptocurrency exchange for Bancor Network Token. 

By following this article to the end, you will get to know the different ways to buy BNT based on your preferences and geographical location. 

TABLE OF CONTENTS:

Best 5 Exchanges To Buy Bancor Network Token (BNT)

Searching for the 5 best exchanges to buy BNT is an extremely difficult task. 

Experts and analysts had to do a thorough one-by-one study of the 51 cryptocurrency exchanges that support BNT for trading. Through their search, they came across pressing issues that are mostly ignored by novice and beginner traders. 

Some of these issues were speed, security, liquidity, reputation, fees, limits, geographical location, customer service, and regulation among others. 

After a thorough discussion, some exchanges appeared in all our analysts' lists based on daily volumes, fees, reputation, and regulation. 

This list of the best exchanges to buy Bancor (BNT0 has been recommended several times to millions of our clients because we have used and trusted them. And the winners are eToro, Coinbase PRO, Binance, Bancor, and other Honorable Mentions.

1. eToro 

eToro is a multi-asset exchange that has been in the digital finance space for almost 15 years. 

As one of the pioneer exchanges, eToro is known for its awesome speed in the execution of orders due to its high daily volumes. 

After operating for seven (7) years, eToro decided to take advantage of the boom in digital currencies. 

The company launched support for cryptocurrencies in 2014Since then, the platform has become the go-to exchange for several traders who trusted the platform in its support for stocks, indices, and commodities. 

It is therefore not surprising to come across questions that revolve around eToro and Bancor Network Token. 

Some of the questions are how many coins do eToro support,  and can I buy BNT on eToro?

On 1st February 2022, eToro announced support for BNT and other tokens as part of expanding its cryptocurrency arsenal. 

You can buy BNT on eToro by registering for an account, going through a verification process, depositing funds in the form of fiat, and finally navigating to the BNT page to purchase an amount of the tokens that meet your investment budget. 

Before you invest in BNT, it will be wise to assess the pros and cons of eToro. 

Pros of eToro: 

✅ Has a great reputation (trusted by approximately 23 million people, as of June 2021). 

✅ Supports many countries (more than 100). 

✅ Android and iOS-powered smartphone users can access eToro easily. 

✅ Offers low trading fees. 

✅ Offers free deposits on most payment methods. 

✅ Payment methods support is high (bank cards, bank transfers, PayPal, and others. 

✅ Demo account (has $10,000 which never expires to help the novice learn the basics of trading). 

✅ BNT copy trading is available for beginners. 

✅ The verification process is one of the best in the space. 

✅ High liquidity exchange that records billions in daily trading volume. 

✅ Well-regulated exchange (has not been mired in any controversies or regulatory problems). 

✅ Highly secured exchange (employs numerous measures to protect your account).

✅ Supports 48 cryptocurrencies (as of Thursday, 17th February 2022).  

Cons of eToro:

Does NOT support crypto to crypto trades. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

2. Binance 

Chanpeng Zhao launched the Binance Exchange in 2017 as part of a broader crypto project that included the Binance Smart Chain and its associated decentralized protocols or applications (DAPPS). Right from its inception, Binance looked different from pioneer cryptocurrency exchanges due to its sophistication. 

Binance supports the trading of BNT. On 16th October 2017, Binance announced that it has added a BNT/BTC trading pair. 

You may be in a rush to buy BNT through Binance but you must understand the pros and cons of the exchange.

Pros of Binance:  

✅ Offers staking rewards (you can make decent annual percentage yields depending on the total number of tokens). 

✅ Offers a range of payment methods (bank cards as well as direct crypto deposits through supported wallets such as TrustWallet). 

✅ Offers low trading fees (this helps beginners). 

✅ Great reputation in the space (as of October 2021, Binance has approximately 28.6 million users worldwide). 

✅ High country support (more than 180). 

✅ High volume exchange (Binance is the largest cryptocurrency by daily, weekly, and monthly volume). 

✅ Offers more than 300 crypto coins for trading. 

✅ Offers more than 1,000 markets (more options to choose from). 

✅ Highly scalable platform (processes approximately 1.4 million transactions per second). 

✅ Highly secure platform (uses modern security encryptions to protect accounts). 

✅ Highly regulated exchange (has licenses of operation in many countries). 

✅ Can be accessed on the World Wide Web, Apple, and Google Play stores. 

✅ Basic account holders can enjoy being anonymous. 

✅ Great Community for beginners to learn from. 

✅ Provides periodical reports on the state of crypto (this helps readers stay updated). 

Cons of Binance:

The verification process is stressful. 

The high-level design makes the platform a bit complex for novice traders. 

Though highly regulated, Binance continues to run into regulatory bans from China, Japan, Thailand, the United Kingdom, and the United States.

Binance U.S. users do not enjoy the same level of cryptocurrencies and markets as others around the globe. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

3. OKX 

Like Binance, OKX was launched in 2017

This was the year that made many people believe that crypto has a future after the all-time high price recorded by Bitcoin and Bancor Network Token among others. 

As of Thursday, 17th February 2022, there are approximately 459 exchanges in the space. 

Among the relatively younger exchanges in the space, OKX has fought off competition and has become a top 5 platform when the trading volume for a period is accumulated. 

OKX supports the native asset that oversees transactions on the Bancor Network. On 22nd January 2018, Bancor announced via a tweet that OKX has added BNT to their growing list of cryptocurrencies.

Before you throw funds behind Bancor (BNT) on the exchange, it would be wise to learn the pros and cons of OKX. 

Pros of OKX: 

✅ Offers more than 260 cryptocurrencies for trading (this helps crypto pairing). 

✅ Offers more than 260 markets. 

✅ Well-established exchange (trusted by more than 20 million users). 

✅ High volume exchange (records more than $1 billion in daily volume). 

✅ Supports many countries. 

✅ Adheres to regulation by following Knowing Your Customer (KYC) and Anti-Money Laundering (AML) rules. 

✅ Positive customer service experience. 

✅ Offers high-security standards for their clients. 

✅ Offers staking rewards you can take advantage of. 

✅ Supports a range of payment methods. 

✅ Highly accessible exchange (users of iOS and Android-powered devices such as smartphones, tablets, and pads can find the OKX app in their respective stores). 

Cons of OKX:

Does not offer DEMO accounts like competing platforms. 

OKX is NOT available to residents of the United States. 

There are limits as to what you can do without verification. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

4. Bancor 

As the first decentralized application in the decentralized finance space, Bancor is a cryptocurrency exchange. 

Bancor was launched in 2017 but started to see real usage in 2020 buoyed by the boom that followed the decentralized finance market after the March and April lows brought forth by COVID-19. 

Some of them are, how many Bancor tokens are there, and is Bancor on Ethereum? 

There is a sole Bancor token called Bancor Network Token with the ticker symbol BNT. 

Bancor is a DAPP on the Ethereum Network. 

The top market on the Bancor Exchange is BNT/ETH. MDT/BNT also ranks in the top five markets on the platform. 

Now that you know a bit about this decentralized exchange, let us analyze the pros and cons of Bancor. 

Pros of Bancor:  

✅ Supports approximately 66 cryptocurrencies (as of Thursday, 17th February 2022). 

✅ Supports approximately 69 markets (as of Thursday, 17th February 2022). 

✅ Among the largest decentralized exchanges in terms of trading volume. 

✅ Competitive trading fees. 

✅ Supports a significant number of tokens on the Ethereum network. 

Cons of Bancor: 

Limited payment methods supported (bank transfers, bank cards, and online financial services wallets such as PayPal and Skrill cannot be used on Bancor). 

Margin trading is NOT supported. 

Lacks the sophistication of other DEXs such as Uniswap, PancakeSwap, and co.

Decentralized (there is no customer service personnel to address your concerns). 

5. Honorable Mentions 

Aside from the exchanges pointed out above, there are other best ways to buy Bancor Network Token. 

You can buy and trade Bancor (BNT0 on DigiFinex, Coinbase PRO, FTX, Huobi Global, Bithumb, Crypto.com, KuCoin, Gate.io, Upbit, Gemini, Bittrex, Currency.com, Bitfinex, WazirX, Kraken, Indodax, CEX.IO, LBank, ABCC, ZB, and DragoEx.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Bancor: Introduction To The Crypto World Of The First Decentralized Protocol 

There are several crypto projects in the space today. 

As per several tracking websites, there are more than 17,000 projects with more than 2,000 projects expected to be added before the end of 2022.

Since Bancor is linked to the Ethereum Network, you should know that the protocol interacts with other areas of the space. 

More often than not, Bancor comes into contact with cryptocurrencies, other decentralized finance protocols and applications, decentralized oracle networks, stablecoins, non-fungible tokens, and competes with centralized and decentralized exchanges

These are a set of crypto terminology you will be coming across as you take a stake in Bancor Network Token. 

Here are important things you should know about Bancor. 

  • Bancor operates in the decentralized exchange space. There are more than 400 cryptocurrency exchanges. Aside from Bancor, there are others such as Uniswap (UNI), SushiSwap (SUSHI), Curve (CRV), PancakeSwap (CAKE), and others. 
  • Like all crypto tokens, BNT can be divided into 8 decimal points (1.00000000). As of writing, BNT was trading for $2.61, with $2 you can buy approximately 0.76628352 BNT. 
  • The Bancor Protocol was built on the blockchain technology of Ethereum. Blockchain technology assists in the trading, distribution, creation, and storing of BNT. If Bancor was a train, imagine blockchain as the railway that allows BNT to move from one person to the other. 
  • Exchanges (centralized) such as OKX, eToro, Binance, and Coinbase PRO and exchanges (decentralized) such as Uniswap and co are independent trading platforms created to help you exchange fiat (USD) for digital currencies as well as crypto (example, BNT) for crypto (example, ETH). 
  • Crypto wallets that support Bancor Network Token such as Ledger, Trezor, Exodus, KeepKey, MyEtherWallet, MetaMask, Atomic Wallet, and TrustWallet are software that facilitates access to the Ethereum Network as well as the Bancor Protocol. They help transfer and store BNT safely and securely. 

You will come across more crypto terms as you learn more about the best ways to buy BNT. 

Trading Education will like to remind you that your geographical location or region plays an integral role as to where you can buy BNT as well as how to buy BNT.

Check Out: 9 Promising Cryptocurrencies To Invest In

Comparison Of Payment Methods Used To Buy Bancor Network Token 

There is nothing like a single payment method when it comes to buying Bancor Network Token (BNT). 

There are a range of payment methods used to buy BNT and they include but are not limited to; 

Cash ― As of February 2022, this is the only payment method that allows you to buy BNT anonymously. This is because all the other payment methods one way or the other are linked directly to your identity. 

Credit/Debit Card ― This payment method has been described as one of the easiest and fastest ways to buy BNT in 2022. Per regulations, there are limits as to the amount of money you can deposit and withdraw.

Bank Transfer ― This payment method is one of the best ways to buy BNT because of the background checks involved. Although the process is quite slow, it is one of the best ways to prevent fraud when buying Bancor Network Token.

PayPal ― The exchanges that support PayPal as a payment method do this because of $0 in transaction fees. This is why many trading and investing experts believe PayPal is one of the easiest and fastest ways to buy Bancor Network Token.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

The Cheapest Place To Buy Bancor (BNT) Network Token 

eToro is the cheapest place to buy Bancor (BNT) from our list. This is because eToro supports several payment methods that can help you make deposits at $0 fees. 

The Safest Way To Buy Bancor Network Token (BNT) 

Aside from Bancor which is a decentralized protocol that does not prioritize knowing your customer (KYC), OKX, eToro, and Binance are some of the safest ways to buy Bancor Network Token (BNT). This is because they are well-regulated, well-established, and prioritize KYC as well as anti-money laundering rules.

The Easiest Way To Buy Bancor (BNT) Network Token 

The easiest way to buy Bancor Network Token depends on your preferred payment method. If you are a fully verified customer of eToro, you will find the platform as one of the easiest ways to buy BNT. In the same lane, if you become a fully verified customer of Binance and OKX, you will realize they are some of the easiest ways to buy Bancor Network Token. 

The Fastest Way To Buy Bancor Network Token (BNT)

The fastest way to buy BNT depends on your geographical location, payment method, and accessibility of the exchange. Since eToro can be found on Google, Apple Stores, and as well supports PayPal and bank cards, eToro is the fastest way to buy Bancor Network Token.

How Do I Buy Bancor Network Token You? 

Many Bitcoin holders may find BTC tokens near them on ATMs in their geographical locations. Unfortunately, BNT is not a major cryptocurrency. It is not a major altcoin as well so it is difficult to find BNT on ATMs near you. 

Therefore, the only way you can buy BNT near you is to use applications of exchanges that support the token from either Google or Apple Store.

Don't Miss: 3 No-Brainer Cryptocurrencies To Buy With $300 Right Now

Best Ways to Buy Bancor Network Token Anonymously 

Regulatory bodies worldwide are doing everything in their capacity to reduce the accessibility of cryptocurrencies. 

Therefore, it is difficult to buy Bancor Network Token anonymously. With that said, several investment experts have created digital asset management systems. 

You can invest your money into a Bancor Network Token pool. 

In that scenario, you buy BNT through the group and not as a sole investor.

Best Ways To Buy Bancor Network Token (BNT) With PayPal 

From our list, the best way to buy Bancor Network Token with PayPal is through eToro

eToro supports the payment method and has been used by millions to buy BNT and other digital coins on their platform.

Best Places To Buy Bancor Network Token (BNT) With Credit/Debit Card 

From the list provided, Trading Education believes eToro is the best place to buy Bancor Network Token with a credit/debit card. With low trading fees, you can buy large amounts of BNT and they would be processed within seconds.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Best Ways To Buy Bancor Network Token (BNT) With Your Bank Account 

The best ways to buy Bancor Network Token with your bank account are through eToro Coinbase PRO. 

See You On The Other Side!

There you have it, reading this section means you have been well-informed about the 5 best ways to buy Bancor Network Token (BNT). 

Prices of digital coins are down at the moment but provide the perfect opportunity to hold a stake in BNT. 

Buying BNT has helped the portfolios of many people and could brighten yours too. 

eToro – Best Platform To Buy Bancor

eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

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