How to buy Band Protocol (BAND) in the UK
Learn how to buy Band Protocol (BAND) on 6+ crypto exchanges in our step-by-step guide.
You can buy Band Protocol (BAND) on a cryptocurrency exchange like eToro. These specialised marketplaces allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. The Band Protocol can be thought of as a digital oracle – a program that connects blockchain systems with real-world data. Here's how to buy Band Protocol.
How to buy Band 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.
Compare crypto exchanges
The easiest way to buy Band 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.
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.
Make a deposit
Once verified, you can deposit £ using the payment method that best suits you – debit card, neteller, PayPal and wire transfer payments are widely accepted.
Buy Band Protocol
You can now exchange your funds for Band 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 Band Protocol to your personal wallet.
Where to buy Band Protocol in the UK
Find an exchange to buy, sell and trade BAND by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy Band 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 UK 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 Band 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 Band 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 BAND 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.
What is the easiest way to buy Band Protocol?
The easiest way to buy BAND 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 BAND, 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 Band Protocol has been performing recently.
Best Band Protocol wallets to store your BAND
You can keep your BAND 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.
Recent Band Protocol developments
October 2021: Nervos Network and Band Protocol have entered a partnership to improve the efficiency and scalability of DeFi ecosystems while simplifying the dApp development process.
Is Band Protocol a good investment?Below are the aspects you should consider before investing in UMA:
- Access to derivatives: In its most basic sense, a “derivative contract” can be thought of as an agreement between two parties that pertains to the future price of any asset, wherein neither party actually owns the asset in question. In this regard, UMA helps crypto owners utilise the potential of derivatives by helping in the creation of a synthetic token (of basically any asset) after a set amount of collateral has been deposited and contract terms for the freshly issued token have been agreed upon beforehand.
- Unique operational structure: Instead of employing automated price oracles to find out which token issuers are undercollateralised, users of the UMA ecosystem are provided with a wide array of financial incentives in order to weed out any participants who they believe may not be in a position to back up their assets.
- Synthetic tokens: Synthetic tokens can be thought of as being collateral-backed (ERC-20) cryptos whose values fluctuate depending upon their reference index. Alternatively, synthetic tokens can be thought of as being derivative contracts that can operate on any smart-contract-enabled blockchain ecosystem. Additionally, on a more technical note, these offerings need to possess three basic characteristics: they need to have a price identifier, an expiration date (much like traditional derivatives contracts) and a set collateralisation requirement.
- Governance: UMA token holders can not only vote on the price of an asset, but they can also vote on any changes or upgrades that may have been proposed in relation to the UMA ecosystem. Furthermore, owners also have additional powers like introducing new assets on the platform, tabling UMA Improvement Proposals (UMIPs), removing any smart contracts that may no longer be in use, etc.
- Wallet compatibility: Despite UMA-based synthetic tokens being quite complex in their design and operational utility, they can easily be stored on virtually any Ethereum-compatible wallet.
Additional information about Band Protocol can be found using our BAND analysis tools.
Today's Band Protocol price versus ATH
Compare today's price of Band Protocol ($1.25 USD) against its all-time-high price of $2019-11-25T05:49:22.765Z USD on 01 January 1970. The closer the bar is to 100%, the closer BAND is to reaching its ATH again.
ATH date: November 25, 2019
Band Protocol ATH: $22.83
How to trade, convert or sell Band ProtocolYou can convert or sell your BAND with the same exchange you bought it through:
- Sign in to the exchange you have BAND on.
- If you store your Band Protocol in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of BAND you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Band Protocol.
- Complete your transaction and move your BAND to a wallet for storage.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
More guides on Finder
How to buy EthereumPoW (ETHW) in the UK
This guide provides step-by-step instructions on how to buy EthereumPoW, lists some exchanges where you can get it and provides daily price data on (ETHW).
How to buy Coinbase Wrapped Staked ETH (CBETH) in the UK
This guide provides step-by-step instructions on how to buy Coinbase Wrapped Staked ETH, lists some exchanges where you can get it and provides daily price data on (CBETH).
How to buy Tornado Cash (TORN) in the UK
This guide provides step-by-step instructions on how to buy Tornado Cash, lists some exchanges where you can get it and provides daily price data on (TORN).
EthereumPoW (ETHW) price, chart, coin profile and news
This guide provides step-by-step instructions on how to buy EthereumPoW, lists some exchanges where you can get it and provides daily price data on ETHW.
Coinbase Wrapped Staked ETH (CBETH) price, chart, coin profile and news
This guide provides step-by-step instructions on how to buy Coinbase Wrapped Staked ETH, lists some exchanges where you can get it and provides daily price data on CBETH.
Splintershards (SPS) price, chart, coin profile and news
This guide provides step-by-step instructions on how to buy Splintershards, lists some exchanges where you can get it and provides daily price data on SPS.
Tornado Cash (TORN) price, chart, coin profile and news
This guide provides step-by-step instructions on how to buy Tornado Cash, lists some exchanges where you can get it and provides daily price data on TORN.
Bridge Oracle (BRG) price, chart, coin profile and news
This guide provides step-by-step instructions on how to buy Bridge Oracle, lists some exchanges where you can get it and provides daily price data on BRG.
How to buy Terra Luna Classic (LUNC) in the UK
This guide provides step-by-step instructions on how to buy Terra Luna Classic, lists some exchanges where you can get it and provides daily price data on (LUNC).
Terra Luna Classic (LUNC) price, chart, coin profile and news
This guide provides step-by-step instructions on how to buy Terra Luna Classic, lists some exchanges where you can get it and provides daily price data on LUNC.
Ask an Expert