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How to buy Bao Finance (BAO) in the US
A beginner's guide to buying and selling BAO in the US.
How to buy Bao Finance
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Bao Finance.
- Open an account on an exchange that supports BAO.
Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Bao Finance.
- Buy Bao Finance.
Complete your Bao Finance purchase and then find the best wallet to store BAO.
What is Bao Finance?
BAO is the blockchain-based governance token of BAO Finance, created exclusively for financial transactions. BAO Finance is a “second layer” protocol for synthetic assets built on top of Uniswap, SushiSwap or Balancer. It is known as L2 (Layer 2) DeFi because it adds its protocol features over a DeFi system. The main objective of BAO Finance is to create robust synthetic assets for any type of market. Users can generate synthetic assets by using their liquidity provider (LP) tokens from Uniswap, SushiSwap or Balancer and becoming a part of the BAO ecosystem. Additionally, the user also earns yields and fees by providing liquidity to the pools. The BAO token is backed by an insurance fund where all the BAO fees are accumulated. By staking their LP tokens as collateral, users can also earn BAO tokens that can be used to create more synthetic assets, which can then be used to invest in other assets.
Bao Finance (BAO) is the 925th largest cryptocurrency in the world by market cap, valued at $19,153,752. The current price of Bao Finance is $0.00026086, which is -2.806% lower than yesterday. Prices have ranged between $0.00026839 and $0.00025803 over the past 24 hours. All prices are listed in US dollars and accurate as of October 17, 2021 04:10 UTC.
Where to buy Bao Finance
Unfortunately, at this time no major exchanges in the United States offer this coin. However, you may be able to purchase it with another cryptocurrency, just be sure you're following all legal restrictions and requirements.
Consider buying a different cryptocurrency after comparing popular exchanges.
Is it a good time to buy Bao Finance?
The technical analysis gauge for Bao Finance displays real-time ratings for the timeframes you select. This is not a recommendation to buy, sell or trade. It represents a technical analysis of Bao Finance based on the most popular technical indicators: Moving Averages, Oscillators and Pivots. Finder might not concur and takes no responsibility.
This chart is not advice or a guarantee of success. Rather, it gauges the real-time recommendations of three popular technical indicators based on the performance of Bao Finance: moving averages, oscillators and pivots. Finder is not responsible for how BAO performs.
Bao Finance at a glance
|Total BAO supply||936,716,749,052|
|All time high||US$0.00317406|
|All time high date||February 03, 2021|
Bao Finance price performance over time
How to sell Bao Finance
You can cash out your BAO with the same exchange you bought it through:
- Sign in to the exchange you have BAO on.
If you store your Bao Finance in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of BAO you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Bao Finance.
What to consider when buying Bao FinanceBelow are the aspects you should consider before investing in BAO:
- Pending Bao: This refers to the pending balance that will only be minted when the user harvests it. In the event of a change in the derivative contract impacting the calculation of BAO, if the pending balance is not harvested, it can no longer be claimed.
- Tokenomics: At present, users earn 5% of the BAO upfront and 95% of the token is locked into a 3-year vesting period with a 1-year cliff. This means 1 year after receiving the earnings upfront, the remaining BAO balance is evenly distributed daily to users for 3 years. This lock-in period protects the token from the risk of being dumped or being incentivized for short-term gains. However, if your objective is short-term farming, this may not work for you.
- Governance: The BAO token provides the users with the right to vote and participate in several decisions related to the ecosystem, including reward rates, founder rewards, changing or removing fees, changing supported pools and allocations or removing BaoMan (the founder) from his elected position as an administrator.
- Fees and behavior penalties: Users pay a 0.75% deposit fee while depositing their liquidity provider (LP) tokens. However, in the event of withdrawal, the user is charged a fee ranging from 0.1-8% based on the amount of time they have been in the pool. If the user withdraws within the same block, a slashing fee as high as 25% is charged to mitigate any flash-loan attacks.
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Disclaimer: Cryptocurrencies, including Bao Finance, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of BAO 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 Bao Finance or any other cryptocurrency discussed.
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