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Built on the ERC-20, Ethereum network - Bancor is a new class of crypto. Coined as Smart Tokens, the Bancor network is able to take a type of crypto asset and provide the ability to swap them for another on it’s network, without having to rely on lining up buyers and sellers. This is possible through the unlimited liquidity provided by the Bancor network.Volume of the orders and given demand at any time, may affect the price of the swap.
BNT tokens are the backbone of the Bancor network, as each asset is swapped for BNT, and then again from BNT into the desired asset. Similar to other DeFi exchanges and platforms, users are able to earn yield from providing liquidity to the network.
How to Buy Bancor Token with Swyftx?
To buy Bancor Token with Swyftx, you will need to sign up for a free trading account by entering your name, phone number, email and creating a secure password. After verifying the details you have entered, you will need to verify your identity by uploading a copy of either your passport or drivers licence (this is an Australian Government regulation that applies to lal exchanges). This process only takes a few minutes, and once verified, you can then deposit AUD into your account and buy Bancor.
Why Buy Bancor with Swyftx?
With the goal of making cryptocurrency investing easy and more accessible, the Swyftx trading application is full of benefits and features that make it an ideal platform for both new and experienced traders. Based in Australia, Swyftx has an Australian based customer support team that offers both live chat and phone support, a demo mode, price triggered buy and sell orders, recurring orders, a large variety of payment methods, easy tax reporting and more.
