Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy Bancor. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!
Australia has a good amount of popular and regulated crypto exchanges, so it’s quite easy finding an exchange that has Bancor. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.
Let’s get into it!
How to Buy Bancor in Australia
There are only 4 main steps involved and it’s pretty straightforward:
1. Choose a crypto exchange
As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has Bancor in its list of cryptocurrencies.
Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.
And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.
So for this guide on buying Bancor, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer Bancor.
Also, take a look at our analysis of the best cryptocurrency brokers for those looking to learn more about which ones we like.
2. Sign up with the crypto exchange
Once you’ve decided on which exchange to use, it’s time to sign up.
Swyftx has a very streamlined sign-up process in place. The first step is to fill in the sign-up form.
Next up is to go through their basic verification process, called a KYC, which is required by law here in Australia. This should be very quick and easy.
Once done, it’s time for the next step.
3. Funding your account with AUD
To buy Bancor, you first need to transfer AUD to your Swyftx account using one of the many deposit methods available. From bank transfer to PayID, POLi pay and credit cards, plenty of options to choose from.
4. Buy Bancor
The final step is to go to their asset list, find Bancor, navigate to the buy section, and then trade your AUD for some BNT. Once you’ve bought Bancor, you can track how much you’ve gained or lost either in the app (they have a great app), or on desktop on the left-hand side under your cryptocurrency list.
Where to Buy Bancor (BNT)
|5/5||300+ cryptocurrencies||Visit Swyftx|
|4/5||200+ cryptocurrencies||Visit Coinspot|
|3/5||400+ cryptocurrencies||Visit Binance|
Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.
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How to Sell Bancor
If you’re thinking about selling Bancor, just follow the steps below.
- Sign in to the crypto exchange (like Swyftx).
- Click on Bancor in your list of cryptocurrencies, or find your trading account if you’re using an exchange with different accounts.
- FInd the sell section and sell Bancor for AUD, or trade it for another cryptocurrency.
Frequently Asked Questions
Is buying Bancor in Australia legal?
Yes, you can legally buy and trade cryptocurrencies in Australia. We do of course recommend only using crypto exchanges regulated by AUSTRAC.
How to buy Bancor with PayPal?
Unfortunately, most crypto exchanges in Australia don’t support PayPal. The only exchange that you could use is eToro, but their cryptocurrency list is quite limited so you might not find Bancor. Have a look on their site first, you might be lucky.
How to buy Bancor with a credit card or debit card?
Most top exchanges support buying crypto with a credit or debit card. We would recommend Swyftx to buy Bancor with your credit/debit card.
Bancor is the only protocol to decentralize staking. It allows you to make money from a single token exposure and provides full protection against any impermanent losses. Bancor, the first DeFi protocol, was launched in 2017.
It offers depositors up to 60% APR tokens, such as ETH or WBTC. Bancor DAO, a decentralized autonomous organization owned by the community, is called.
Access to the network is made possible by the "Bancor Network Token", BNT. Traders use the protocol token to access the network's liquidity pools. Anyone can contribute liquidity. Any liquidity provider can contribute liquidity to a pool. They are eligible to receive fees for trades that pass through the pool. Liquidity providers will receive pool tokens. These tokens will be given to liquidity providers as a share of liquidity, fees, and Liquidity Mining Reward.
Bancor is one of the longest-running and most audited crypto projects and has received outstanding ratings from top auditors like Certik, PeckShield, and Halborn. Bancor received a 96% safety rating from DeFiSafety in 2021.