How to Buy Kyber Network (KNC)
Seeking to gain exposure to crypto assets powering emerging decentralized exchanges?
If so, you may want to consider KNC, the asset powering Kyber Network, a protocol that allows users to convert crypto assets without access to an order book managed by any one company.
Because Kyber Network runs on top of Ethereum, the conversion rate is built directly into the network itself, meaning users only pay fees in ether (ETH) for executing their trades.
Not sure yet why you’d want to buy KNC? Feel free to read our ‘What is Kyber Network?’ guide. It offers a more extensive breakdown of its technology and vision.
Ready to dive in?
If you just want to start investing in KNC right away, click the button below to begin.
Why buy KNC?
The KNC cryptocurrency plays a key role in maintaining the Kyber Network, and is used by its owners to manage the protocol’s rules and operations.
By owning and staking KNC, you gain the ability to vote on network upgrades and policies (fee models and rates, as an example), with each vote being proportional to the amount of KNC cryptocurrency you stake.
Of note, users who stake KNC will receive rewards in the form of ETH for their contributions.
You may also want to consider buying KNC if you want to:
- Diversify your long-term investment strategy
- Invest in crypto assets powering decentralized exchanges
- Stake KNC to begin earning more cryptocurrency
- Participate in Kyber Network’s governance process
- Support the development of applications on Ethereum.
Where can I buy KNC?
There are a number of ways to buy KNC. However, many find that it is easiest to purchase it through a trusted global exchange like Kraken that offers easy cash on-ramps.
Aside from offering the lowest fees in the industry, Kraken is constantly rated one of the most secure and trusted crypto exchanges in the world. This matters because if you lose the private key to your KNC, it can be challenging if not impossible to recover your funds.
This differs substantially from decentralized exchanges like KyberSwap, where users typically can’t trade popular currencies like U.S. dollars or euros and traditional support services aren’t the norm for high-tech users.
At Kraken, we take security seriously, with tested technology and rigorous procedures designed to safeguard funds. We don’t cut corners when it comes to security, and neither should you.
How much KNC can I buy?
Looking to buy KNC on a budget? Don’t worry, Kraken offers a minimum order size of 5 KNC to help you gain exposure to a variety of assets.
Of course, you can also execute larger KNC buy orders as well. It wouldn’t be out of the ordinary for larger traders to purchase or trade 7,000 KNC or more on Kraken.
How to buy KNC on Kraken
Follow the steps below to start buying KNC on Kraken:
Sign up for a Kraken account.
First, enter a valid email address, create a new username and set a strong password to protect your account.
Verify your account.
After providing your name, date of birth, country of residence and phone number, you can buy KNC with cryptocurrencies like ETH and DASH. In order to use cash (i.e. USD, CAD or EUR), you’ll need to provide our experts with additional supporting documents verifying your identity. Read about our verification processes here.
You can fund your account in a number of ways. How you do so will depend upon your location and preferences.
Once your account is funded with cash, you’re ready to buy KNC. You’ll also get access to our advanced charting tools, 24-hour global client support and futures trading*. All of these features are why millions of global traders love Kraken.
*Trading futures, derivatives and other instruments using leverage involves an element of risk and may not be suitable for everyone. Read Kraken’s risk disclosure to learn more.
24/7/365 Customer Support
Trading is really pretty simple! If you have any questions about buying Kyber Network, let us know. Our support staff is online all day, every day, ready to help.
You can reach us anytime on LiveChat or by email.
Where to keep your KNC
Once you buy KNC, you’ll need somewhere to safely store your cryptocurrency.
Kraken is secure, but it’s always safest to keep your KNC in a wallet, a software or hardware device that stores the public and private keys required to make crypto transactions.
Kyber Network is a platform built on top of Ethereum, meaning KNC can be stored in an Ethereum wallet, of which there are many. Mobile and web wallets can make transactions easy, while hardware wallets are perhaps best suited for secure, long-term storage.
When choosing a crypto wallet for your KNC, first spend some time thinking about what you plan to do with your tokens to find a wallet that fits your needs.
Kraken is not a wallet service
It is important to note that Kraken is an exchange service and not a wallet service. So while we allow our clients to hold KNC in their accounts, we highly encourage you to separate your KNC holdings into multiple wallets.
Start buying KNC
Ready to take the next step toward investing in decentralized exchanges and other DeFi coins? Click the button below to buy KNC on Kraken today!