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Blockchain and Bitcoin kicked off a new era of technological advancement, especially in finance. However, Ethereum changed the industry even further by using the blockchain to support innovative smart contracts that could complete financial and commercial actions without a middleman. The Bancor Network (BNT) is part of this drive towards true financial decentralization and a peer-to-peer economy, and the Bancor Network Token is a key part of the system.
The Bancor Network Token (BNT) is a token that has a close association with automated market maker technology. This tech uses complex staking mechanisms and automated interest collection to replace the bank with a pool of individuals who provide liquidity and directly reap the profits of doing so. By using Bancor on either end, you can enjoy the efficiency and reduced cost that comes with eliminating these middlemen.
As an investment asset, BNT has generally performed well and daily trading volume often exceeds $10 million. This makes it a midsized altcoin, and the underlying value to Bancor means that it is likely to stick around. If you are looking for an altcoin to diversify your holdings with, BNT is a proven choice.
Who created BNT?
Bancor has four founders, Galia Benartzi, Guy Benartzi, Eyal Hertzog, and Yudi Levi. However, there is a fifth ideological ancestor in the form of John Maynard Keynes, who originated the concept of a global “Bancor” currency. Since BNT is meant to facilitate a global, decentralized financial system and support the transfer of value, the founders saw a logical connection between Keynes’ ideas and the token.
Bancor primarily works as a transfer network and is a successful one at that. Between the launch in 2019 and early 2022, the Bancor Network had already processed $1.5 billion in cryptocurrency trades.
How do I exchange and trade Bancor?
Bancor does not use the traditional Proof of Work that is common in the crypto space which involves mining for coins. As such, the main way to procure and increase your Bancor Network Token holdings is through exchange and investment strategies. You can use a reputable, high-quality exchange to trade USD for BNT.
There may be other options such as BTC to BNT or BNT to Ethereum, but these vary based on the exchange in question. Using Rubix is an excellent choice, as this exchange offers great security, low transaction fees and unparalleled convenience.
Exchange BNT using Rubix
Using your Rubix trading account, you can buy and sell BNT and hold other cryptocurrencies as well. We also make it easy to cash out into fiat currencies and withdraw funds. Rubix is the ideal exchange to trade BNT because it is easy to use, secure, reputable and supports quick and efficient trades between many different cryptocurrencies.
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