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Bancor Network (BNT): How it works and where to buy it

Learn more about Bancor Network, why the BNT token is useful and where to buy it.

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Learn about Bancor Network Learn more
Where to buy BNT Find BNT exchanges

Bancor Network Tokens (BNT) are the native tokens of Bancor Network.

The Bancor Network is a series of permissionless liquidity pools designed to facilitate more seamless trading and accessible liquidity in the DeFi space.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Cryptocurrency BNT
Circulating supply ~66,000,000 BNT
Maximum supply Varies with demand
Type ERC20
Purpose Multi-purpose utility token

What is DeFi? Read the beginner’s guide

How does Bancor Network work?

At its heart, Bancor Network is a series of liquidity pools. It is intended to serve as a decentralised and permissionless alternative to the market making schemes which provide liquidity in centralised systems.

Put simply, its purpose is to ensure that people can make crypto-to-crypto trades faster and at lower cost. It builds these liquidity pools by rewarding people who make deposits into the Bancor Network pools.

The BNT token serves multiple purposes in this system: it’s an incentive mechanism, an admission token, an intermediary currency to help grease the wheels and a governance token.

What does BNT do?

BNT serves multiple functions:

  • Admission token. People are required to deposit BNT proportional to the amount of their other deposits.
  • Incentive. Rewards, in the form of a cut of the Bancor Network trading fees, can be paid to liquidity providers.
  • Intermediary currency. As a native, plentiful currency in the Bancor Network, BNT is available as an intermediary currency to enable more seamless exchanges.
  • Governance. BNT token holders can exercise governance rights over the network, for example, by voting on whether network fees are distributed to token holders.

How to buy BNT

Here’s a step-by-step guide on one way of buying BNT. Note that there might be other options available, so you may want to compare cryptocurrency exchanges to find the one that’s right for you.


Name Product Deposit methods Fiat Currencies Cryptocurrencies
Bank transfer,Credit card,Cryptocurrency,POLi
NZD

96
cryptocurrencies

Based in New Zealand, BitPrime trades around 90+ of the world’s top cryptocurrencies, including bitcoin, Ethereum, Ethereum Classic, Litecoin and Ripple.
Credit card,Cryptocurrency,Debit card,Osko,PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

262
cryptocurrencies

Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Credit card,Cryptocurrency
USD, EUR, AUD, CAD, CHF, CZK, DKK, GBP, HUF, ILS & 20+ more

115
cryptocurrencies

Trade various coins through a global crypto to crypto exchange based in the US.
Credit card,Debit card
USD, EUR, GBP, AUD, CAD, CHF, HKD, JPY, PHP, ZAR & 30+ more

146
cryptocurrencies

Access competitive crypto-to-crypto exchange rates for 150+ cryptocurrencies on this global exchange.
Bitfinex Professional Trading Exchange
Cryptocurrency
USD, EUR, GBP, JPY

164
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.
AdvCash,Cryptocurrency,Payeer,Perfect Money,Capitalist
USD, RUB

1427
cryptocurrencies

Pay in USD, RUB or trade crypto to crypto at this Russian-based cryptocurrency exchange with hundreds of coins listed.
Credit card,Cryptocurrency
USD, JPY, RUB, EUR

387
cryptocurrencies

CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Bittrex Digital Currency Exchange
Cryptocurrency,Wire transfer
USD

278
cryptocurrencies

Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
ShapeShift Cryptocurrency Exchange
Cryptocurrency
-

51
cryptocurrencies

Quickly swap between more than 40 cryptocurrency assets or use your credit card to instantly buy bitcoin.
OKEx Cryptocurrency Exchange
Bank transfer,Cryptocurrency,WeChat
USD, CNY, EUR, ARS, AUD, BGN, BRL, CAD, CHF, COP & 20+ more

269
cryptocurrencies

Listing over 100 cryptocurrencies, OKEx offers its users a variety of payment methods and coins to choose from.
Bitit Cryptocurrency Marketplace
Cash,Credit card,Debit card,Neosurf,Bank transfer (SEPA)
EUR, USD, JPY, DKK, GBP, SEK, NOK, TRY & 5+ more

50
cryptocurrencies

Buy cryptocurrency with cash or credit card and get express delivery in as little as 10 minutes.
Huobi Cryptocurrency Exchange
Cryptocurrency
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+ more

290
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
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