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How to buy Anchor Protocol (ANC)

Learn how to buy Anchor Protocol (ANC) on 3+ crypto exchanges in our step-by-step guide.

You can buy Anchor Protocol (ANC) on a cryptocurrency exchange like FTX US. These specialized marketplaces allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. Anchor Protocol is a savings-based DeFi protocol on the Terra blockchain that supposedly enables you to earn higher returns on your savings as passive income. Here's how to buy Anchor Protocol.

How to buy Anchor Protocol in 4 easy steps

The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.

  1. Compare crypto exchanges
    The easiest way to buy Anchor Protocol is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
  2. Create an account
    To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
  3. Make a deposit
    Once verified, you can deposit $ using the payment method that best suits you – cryptocurrency, wire transfer, PayPal and credit or debit card payments are widely accepted.
  4. Buy Anchor Protocol
    You can now exchange your funds for Anchor Protocol. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your Anchor Protocol to your personal wallet.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Where to buy Anchor Protocol

Find an exchange to buy, sell and trade ANC by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.

1 - 4 of 4
Name Product Deposit methods Fiat Currencies Cryptocurrencies
FTX.US Cryptocurrency Exchange
Bank transfer (ACH), Cryptocurrency, Wire transfer
USD, AUD, EUR, CAD, GBP, SGD

39
cryptocurrencies

Sign up through Finder for a 5% discount on all trading fees. T&Cs apply.
FTX exchange offers a range of cryptocurrencies, up to 10x leverage, access to global liquidity, no-fee debit cards for FTX users, fee-free first ACH deposit and benefits for FTT token holders.
KuCoin Cryptocurrency Exchange
Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND

660
cryptocurrencies

Sign up and get up to US$10 in rewards. Make trades to get up to US$500 in rewards. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Bitfinex Professional Trading Exchange
Cryptocurrency
USD, EUR, GBP, JPY

210
cryptocurrencies

Cryptocurrencies are a highly volatile investment product. Your capital is at risk.
Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
Huobi Cryptocurrency Exchange
AdvCash, Cryptocurrency, Wire transfer, SWIFT
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD, RUB

569
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
Disclaimer: Star ratings are only displayed for products with 10 or more reviews.
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Compare up to 4 providers

How do I find the best places to buy Anchor Protocol?

Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in the US to help you choose the one that's right for you.

Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.

What will I need to buy Anchor Protocol?

To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.

An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Anchor Protocol.

  • This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
  • Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing ANC with your local currency then you will need to pass KYC.
  • Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.

Where can I buy Anchor Protocol with a credit or debit card?

Once you've created an account, you will need to deposit funds to buy ANC with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy ANC on the following exchanges:

Platform
Bank deposit
Card deposit
Crypto deposit
Buy ANC
Go to FTX.US Cryptocurrency Exchange
Go to KuCoin Cryptocurrency Exchange
  • Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
  • Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
  • Cryptocurrency: You can usually purchase ANC by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for ANC on the spot market to see what cryptocurrencies it can be traded for.

What is the easiest way to buy Anchor Protocol?

The easiest way to buy ANC is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.

Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.

Before buying ANC, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of Anchor Protocol has been performing recently.

Best Anchor Protocol wallets to store your ANC

You can keep your ANC on the exchange you purchased it on, or move it to a personal wallet:

  • Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
  • Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Is Anchor Protocol a good investment?

Despite the promise of returns and other guarantees, DeFi protocols are often risky for investors. Thus, it’s critical for you to understand all the risks and factors associated with a particular DeFi protocol before investing in its native token. Here are the factors you need to consider before investing in ANC:
  • Smart Contract Risk: Whenever smart contracts enable a DeFi protocol, there are always inherent to smart contracts themselves. There have been many instances of smart contracts being hacked (Spartan Protocol, Meerkat Finance, etc.) on DeFi protocols. Anchor uses the Web Assembly smart contract that enables the depositing and withdrawal of Terra tokens. Thus, always do your own research on the vulnerabilities the protocols smart contract could have.
  • High Dependency on Terra: Anchor is heavily dependent on Terra’s money market and in particular its native token, LUNA. Like any other cryptocurrency, there are market volatility risks that LUNA has. If LUNA loses more than 50% of its value, you should have collateral that keeps the loan to value ratio less than 0.5, else the liquidation risk increases significantly.
  • Regulations: Since Anchor is highly dependent on the Terra network’s stablecoins, any regulatory impact on Terra’s blockchain model can heavily influence the platform’s entire business model. Currently, Anchor operates in a regulatory grey area as there is no clear regulation on stablecoins yet in most markets. If a disruptive regulation is enforced, it could lead to the collapse of the platform.
  • Economic Incentive: The protocol’s promised 20% yield comes from staking rewards from borrowers. They are incentivized to borrow by a high annual percentage rate (APR) of ANC in return. Once the APR reduces, it might not be enough incentive for borrowers to take funds using the protocol thus depositors won’t be able to earn a 20% yield as promised.

Additional information about Anchor Protocol can be found using our ANC analysis tools.

Today's Anchor Protocol price versus ATH

Compare today's price of Anchor Protocol ($0.090754 USD) against its all-time-high price of $8.23 USD on 19 March 2021. The closer the bar is to 100%, the closer ANC is to reaching its ATH again.

Anchor Protocol's price: $0.090754
ATH date: March 19, 2021
1.10%

Anchor Protocol ATH: $8.23


How to trade, convert or sell Anchor Protocol

You can convert or sell your ANC with the same exchange you bought it through:
  1. Sign in to the exchange you have ANC on.
  2. If you store your Anchor Protocol in a digital wallet, compare crypto exchanges to convert or sell it on.
  3. Choose Sell or Convert and place a sell order.
  4. Choose the amount of ANC you'd like to convert or sell.
  5. Confirm the sell price and fees and close your sale of Anchor Protocol.
  6. Complete your transaction and move your ANC to a wallet for storage.

Disclaimer: Cryptocurrencies, including Anchor Protocol, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of ANC is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Anchor Protocol or any other cryptocurrency discussed.

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