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How to buy NKN (NKN)
A beginner's guide to buying and selling NKN in the US.
How to buy NKN
Look for an exchange that supports both fiat and cryptocurrency to simplify buying NKN.
- Open an account on an exchange that supports NKN. 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 NKN.
- Buy NKN. Complete your NKN purchase and then find the best wallet to store NKN.
What is NKN?
NKN stands for “New Kind of Network”. This open-source protocol aims to combat problems such as centralisation, inefficient use and a lack of privacy currently facing the Internet. It also wants to provide the infrastructure for a decentralised Internet. To do this, the project uses a public blockchain and provides economic incentives to encourage users to share their network connections and make use of unused bandwidth.
NKN offers DataRide, a platform-as-a-service product for messaging, streaming and file transfers. It also created dapps such as the nMobile encrypted chat service and a content delivery network known as nCDN.
The NKN token is the network’s utility token. It is used to power and secure the NKN network and can be used to pay for platform fees and purchases.
NKN (NKN) is the 175th largest cryptocurrency in the world by market cap, valued at $397,699,784. The current price of NKN is $0.611, which is 0.038% lower than yesterday. Prices have ranged between $0.626 and $0.561 over the past 24 hours. All prices are listed in US dollars and accurate as of May 11, 2021 08:05 UTC.
Where to buy NKNFind an exchange to buy, sell and trade NKN by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
NKN coin priceUse our graph to track the performance of NKN over time.
NKN at a glance
|Total NKN supply||1,000,000,000|
NKN price performance over time!
How to sell NKN
You can cash out your NKN with the same exchange you bought it through:
- Sign in to the exchange you have NKN on.
If you store your NKN in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of NKN you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of NKN.
What to consider when buying NKN
Cryptocurrencies are complicated and speculative, so buying any token or coin has a high level of risk. Make sure you’re fully aware of all the risks involved and that you thoroughly research the token or coin before buying.
Some of the factors you may like to consider before buying any NKN include:
- White paper. For an in-depth understanding of how NKN works and the technology behind the platform, take a deep dive into the NKN white paper.
- Supply. The maximum supply of NKN tokens is 1 billion. According to CoinMarketCap data at the time of writing (April 2021), approximately 58% of those are currently in circulation.
- Competition. NKN isn’t the only project focused on decentralising the Internet. Several other platforms, from Skycoin to ZeroNet, are working on various aspects of developing a new Internet and tackling similar problems to those NKN aims to overcome. It’s worth researching a range of these projects, plus the approaches they’re taking to decentralisation, before deciding whether to buy any NKN.
- Network size. In April 2021, NKN made headlines when it announced that its network had reached over 67,000 full consensus nodes, making it the “biggest blockchain in the world”. According to the NKN website as of 30 April 2021, the number of nodes had exceeded 80,000.
- Coinbase listing. The Coinbase Pro exchange announced it would list NKN tokens in April 2021. This saw the price of NKN experience a brief surge, reflecting a phenomenon commonly referred to as the “Coinbase effect”.
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