Bancor Network Token (BNT) is an internal cryptocurrency of the Bancor Network platform. It is designed to ensure that each user has the possibility to convert the two tokens immediately. It is based on the Ethereum blockchain and uses ERC20. The platform has a built-in liquidity calculation system for the convenience of users.
The Bancor protocol is to become the new standard for ERC20. The idea is for smart contracts to be connected to the Bancor liquidity network. The service uses a method called a ”connection module". It includes all ERC20 balances. Recalculation of the cost of various tokens is made on the site regularly.
BNT mining is impossible. The creators of the site conducted a single issue during the Bancor Network ICO and only they have the right to issue additional crypto-coins.
“Smart tokens”. This is a unique technology implemented only in BancorNetworkToken. It assumes the possibility of independent conversion of one token into another, thanks to certain mathematical algorithms and tariffs.
Minimum commission. BNT uses a non-profit automated market maker, which allowed to reduce additional payments.
Ample opportunities for Bancor Network exchange. The user of the system has the right to make a trade at any time. And the presence of buyers or sellers is not necessary for this. The amount of the trade is also not important.
Smart contracts. Any transactions on cryptocurrencies are conducted directly with the help of smart contracts.This eliminates the need to deposit or exchange money.
Direct integration of ERC20. If you have your own Ethereum-based token, you can quickly implement it into the Bancor Network.
Since the basis of the cryptocurrency is ERC20, it can be stored on Bancor Network wallets that support this token. Often people prefer the standard Ethereum storage - MyEtherWallet. This option is considered to be the most reliable for such cryptocurrencies. In addition, multicurrency wallets are also common. The token can be added to Jaxx, Exodus, MyToken, and Atomic. If you have a Ledger Nano 5 hardware wallet, you can also use it.
The Bancor project aroused great interest in the crypto community, so the coin immediately appeared on a huge number of trading platforms. Among them there are Bittrex, Bitfinex, HitBTC, Upbit, Binance, Huobi. To a lesser extent, the token is traded on Poloniex, Kraken, Coinbase. You can see the current Bancor Network Token price on Coinmarketcap or follow the recent BNT crypto news.
The new generation exchanger ChangeNOW offers customers to purchase BNT tokens at the most favorable rate. Here you will find extensive opportunities for exchange. In particular, you can buy or sell the cryptocurrency for any of the 150 types of coins available on our website. Thanks to the built-in calculator, you will immediately know how much cryptocurrency will be credited to your wallet. The transaction takes only a few seconds.
Don't forget that ChangeNOW is the best way to buy or exchange your crypto to BancorNetworkToken (BNT)!