How to Buy Bancor (BNT)

Are you looking to gain exposure to the emergent decentralized exchange market? Maybe you would like to earn fees on your crypto holdings with Bancor.

If so, you may want to consider BNT, the native cryptocurrency token of Bancor, an automated market maker (AMM). Bancor is designed to provide liquidity to cryptocurrency markets without requiring a financial institution to manage it directly.
 
Bancor’s decentralized exchange incentivizes users to lock up cryptocurrency in liquidity pools in exchange for a share of the fees paid when they are bought and sold by traders.

Not sure yet why you’d want to buy BNT? Feel free to read our What is Bancor? guide, which offers a more extensive breakdown of the project’s technology and vision. 

While there are a number of ways to buy BNT, purchasing it through a trusted global exchange like Kraken might be easiest.

Kraken is constantly rated one of the most secure and trusted crypto exchanges in the world and offers the lowest fees in the industry.

At Kraken, we take security seriously, with tested technology and rigorous procedures designed to safeguard your funds. This matters because if you lose the private key to your BNT wallet, it can be challenging if not impossible to recover your funds.

Follow the steps below to start buying BNT on Kraken: 

1. Sign up for a Kraken account.
   Enter an email address, username and a strong password to protect your account.

2. Verify your account. 
   After providing your name, date of birth, country of residence and phone number, you can deposit crypto to buy BNT and other cryptocurrencies like BTC and ETH. In order to use cash (i.e. USD, EUR or CHF), you’ll need to provide our experts with additional documents verifying your identity. Read about our verification processes here. 

3. Add funds or a payment method to your account.
   We support multiple funding and payment methods, whichever you choose will be based on your location and preferences.

4. Purchase Bancor BNT!
   Once you have added funds or payment methods to your account, you’re ready to purchase BNT. At this point, you’ll also gain access to all of the powerful products that make the Kraken experience beloved by millions of global traders.

Note: Trading BNT is not available to residents of the USA, Canada, Australia and Japan at this time.

Once you buy BNT, your Bancor tokens will be stored on Kraken.

Kraken is secure, but it’s always safest to keep your BNT in a wallet, a software or hardware device that stores the public and private keys required to make crypto transactions. This enables you to control your own crypto funds.

When choosing a crypto wallet for your BNT, first spend some time thinking about what you plan to do with your tokens to find a wallet that fits your needs. Mobile and web wallets can make transactions easy, while hardware wallets are perhaps best suited for secure, long-term storage. 

Of note, Bancor is a platform built on top of Ethereum, thus BNT can be stored in any Ethereum wallet.

Ready to take the next step towards contributing to decentralized exchange protocols? Click the button below to buy BNT on Kraken today!