The Bancor Network is a fully on-chain liquidity protocol that can be implemented on any smart contract-enabled blockchain. The Bancor Protocol is an open-source standard for liquidity pools, which provide an endpoint for automated market-making against a smart contract. The Bancor Network currently operates on the Ethereum and EOS blockchains, but the protocol is designed to be interoperable for additional blockchains. The BNT token allows Bancor to convert value between coins on different blockchains.
Bitvavo makes it as easy as possible to buy digital assets and cryptocurrencies.
1. Sign Up
Create a free account with which you can buy, sell, send, receive and store Bancor. Access your Bitvavo account from every location, on mobile and desktop.
2. Transfer Funds
Verify your account and transfer Euros to your Bitvavo wallet using one of the 8 supported payment methods.
3. Buy and Trade
Buy or sell over 150 digital assets and pay a maximum trading fee of 0.25%. Store your assets in your Bitvavo wallet or send them to your external wallet.
Storing Bancor and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Bancor without any technical knowledge. Here is a brief overview of the existing wallet options to store your Bancor:
Hosted Wallet
Hosted wallets are wallets where the private keys to your Bancor are managed by a third party such as Bitvavo. Access to your account is protected by a password and other advanced security features. Once you are logged in, you can easily and conveniently manage your Bancor online. Bitvavo offers standard hosted wallets for all digital assets that are offered on the platform.
Software wallet
A software wallet is a program installed on your computer or other device in order to use and manage your Bancor. Using a software wallet gives you full control over your private keys, so you are not dependent on third parties. The risk is that you alone are in charge of the security of your Bancor, and if malicious parties have access to your device, your private keys (and therefore your Bancor) can be stolen.
Hardware wallet
A hardware wallet is a physical device on which you can store your Bancor offline. It is one of the safest ways to store your Bancor, because the private keys are stored on a separate and offline device. Access to this device is often protected by a password. In many ways, a hardware wallet can be compared to a safe in which your Bancor is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Bancor. Once you have purchased Bancor on Bitvavo, you can choose to send your Bancor from your Bitvavo wallet to your own software or hardware wallet.
