Bancor was one of the coins aboard the hype train of 2017. And unlike many of its competitors from that time period (heard anybody pushing Dragonchain lately?), Bancor has managed to live up to the promise of its hype cycle, and remains an important crypto project in the space to this day. We’ve done extensive research and think that the easiest possible way to invest in Bancor is through Coinbull. We’ll explain this and other methods in the Bancor review to come.
5 Quick Steps to Buy Bancor
- Create your new Coinbull account
- Choose your payment method: Bank wire transfer or Credit/Debit
- Deposit funds: (at least $200 for initial deposit)
- Place an order to buy Bancor
- Watch your profits grow!
Why Buy Bancor Now?
Bancor was founded to solve a problem in the crypto community. And today, the problem is bigger than ever. There are now thousands of cryptocurrencies in this industry. Some of them, like Bitcoin and Ethereum, have thousands of traders who buy and sell them daily. Other smaller coins don’t.
This can create a situation called “illiquidity”. An exchange is liquid when it has coins to sell. But sometimes a smaller coin won’t raise enough interest to provide sellers for buyers (or vice versa). Other times a small coin’s profile raises suddenly, and centralized exchange become quickly sold out.
Bancor wants to solve this problem with “smart coins” that act as financial intermediaries for trades like these. They aim to solve the illiquidity problem that smaller cryptos suffer from. It’s a complicated process, but it works pretty well, and Bancor is definitely advancing in this still young industry.
We think it’s a grand time to buy Bancor. Bancor lost value along with every other major crypto in the crash of January 2018. At the time of this writing, the market is moving tentatively upward. If and when the market recovers, people who bought now will thank themselves for their own foresight. Don’t think of Bancor as a crashed currency. Think of it as an innovative technology that’s dramatically on sale.
What is the Best Site to Buy Bancor?
We’ve reviewed many, many cryptocurrency investment options. Some of these are conventional exchanges like Coinbase and Binance. Others are CFD options like eToro and Coinbull. After comparing their platforms from top to bottom, we’ve concluded that Coinbull is the easiest way to invest in many cryptocurrencies, Bancor included. Coinbull sells CFDs, not literal coins. But if you just want to invest in Bancor (without any interest in actually using the coins), the CFD investment model is likely perfect for you.
Coinbull has an excellent array of cryptocurrencies that are actively traded and developed at the time of this writing. Their interface is as easy to use as any you’ll see. Their spreads are fairly tight, and fees are minimal. The company is growing by leaps and bounds, solving problems and adding features at every turn. We think Coinbull is the best option to buy Bancor now, and that this will prove true in greater proportion as time goes on.
How to Buy Bancor with Coinbull
Coinbull is a newer exchange, founded in 2017. Like many other brand new exchanges, Coinbull seeks to differentiate itself from the crowd by being dead simple to use. You can sign up, deposit, and trade in less than 10 minutes. It’s hard to find a more user-friendly experience than this.
We want to restate that you should use Coinbull only if you want the CFD product specifically. CFDs (contracts for difference) are perfect for the hands off investor. If that sounds like you, by all means apply the steps listed below. Coinbull makes hands off investing remarkably effortless.
Step 1: Open account with Coinbull
You can open your new account at Coinbull.io in just a couple of minutes. New users will choose between Blue, Green, and Platinum accounts. Each account comes with different features and privileges. With Green and Platinum, users will have access to expanded educational and 1 on 1 human advisors. These users also get expanded deposit bonuses (20% and 50% for Green and Platinum, respectively). If you’re not sure which you want, why just start with Blue, then let yourself grow as your trading needs dictate.
Step 2: Deposit funds
Coinbull offers the easiest methods for depositing money into the system. You can use either a Debit/Credit card, Bitcoin, or a Wire Transfer from your bank. Most people interested in trading with Coinbull will have access to at least one of these options. Make your minimum initial deposit of $200. Credit/Debit card deposits will be filled in minutes, while bank wire transfers will take a few days. Bitcoin deposits are usually filled in seconds.
Step 3: Buy Bancor
Go to the Coinbull trading screen (on the trading page, top left of homepage). Choose Bancor (BNT) out of the available options, then choose a contract specifying whether you think the price is going to rise or fall over a set period of time. We hope you make the right choice! Rinse and repeat and big profits could be yours.
How to Buy Bancor Through Exchanges
Bancor is also available from numerous exchanges. The difference between a conventional exchange like Binance and Coinbull is that Binance actually sells coins. This is an important distinction. An investor might choose Coinbull because they don’t want to mess with ownership, addresses, digital wallets, hacking, etc. Coinbull’s CFD model gives them what they’re looking for. Other people want to own, trade, and use the coins they invest in. Ownership models for investment are the way to go for this other group.
Fortunately, investing with one of these exchanges is pretty much the same as with Coinbull, with a couple of big exceptions. First you’ll create an account, then deposit Bitcoin. Here is where the paths diverge. You’ve got to buy some Bitcoin, because Binance doesn’t accept USD and EURO like Coinbull.
Start by going to an exchange like Coinbase. Buy as much Bitcoin as you wish to trade for Bancor (and anything else).
Now send this Bitcoin to your Binance wallet. You can find that wallet under “Deposits Withdrawals”.
Now go to Exchanges > Basic and look for Bancor in the column of coins you can trade for Bitcoin. This is visible near the mid right of the screen. Click on the BTC/BNT trading pair, and direct your attention to the “Buy Bancor” interface at the bottom left of the screen.
Buy as much as you like. When the coins arrive, send them to a digital wallet that you have on your device. Hardware wallets like the Ledger Nano S are always a good bet. Check out our guide to learn more about crypto wallets.
Bancor is a promising cryptocurrency with many active use cases in the crypto markets. It’s easy to see how one day, if Bancor is successful, this kind of technology could be used to make trading of many world currencies more efficient. Bancor is also priced at a small fraction of its all time high price record. If you believe in the future of Bancor, now is definitely the time to buy.
Can I Buy Bancor With US Dollars? Yes, but your options are limited. Bancor isn’t as big as some other cryptocurrencies. Only the biggest crypto coins (Bitcoin, Ethereum, etc.) have many ways to trade them directly for fiat money like USD and Euro. You’re not completely out of options, though. CFD brokers like eToro and Coinbull accept USD. Unfortunately, of the two, Coinbull is the only one that sells Bancor. Your only other option to buy Bancor with USD (or any other fiat currency, for that matter) is to buy directly from another individual, who you know online or in the real world. Give them cash, and have them send you Bancor.
How Likely is Bancor to Appreciate in Value? As we always say, no one can predict the future. But we can all make our educated guesses. We like Bancor’s technology, but the coin has not been without its hiccups. A recent hack, combined with early issues with this much hyped token have made many question Bancor’s fundamentals. On the other hand, numerous world class engineers and economists are involved with Bancor’s long term prospects, following its massive ICO. We wouldn’t bet against Bancor.
What if I Don’t Have US Dollars, Euros, or Bitcoin? If you don’t use major currencies like USD, EURO, or BTC, it can be challening to invest in crypto for the first time. Don’t let this stop you. Perhaps the easiest way is to buy Bitcoin first, with whatever currency you have. There are currency specific exchanges all over the world. Then transfer your Bitcoin to a site like Binance or Coinbull, and there trade it for Bancor BNT.