Bancor Review: Smart Tokens Decentralized Network
One of the best things about Bancor is the revolutionary functionality of its token and platform. When you combine those 2 together you get what's essentially one of the best ERC20 compliant exchanges in the cryptosphere.
All of you, our loyal readers, know that we at CryptoDetail take great pride in introducing the true nature of all things crypto. And, one thing we love over all else is a project that makes crypto accessible to everyone.
Bancor is one of those projects that excite us for that one big reason. We have talked about exchanges before. And, everyone knows that we at CryptoDetail look for two things when recommending a crypto exchange; ease of use and lack of red tape.
Why would we bring up exchanges?
Well, when it comes right down to it; one of the best things about Bancor is the revolutionary functionality of its token (the BNT) and platform. When you combine those two together you get what is essentially one of the best ERC20 compliant exchanges in the cryptosphere.
Bancor gives its users assess to the platform that lets us buy and sell a plethora of tokens in an instant. There are no middlemen, no waiting, no trying to find a buyer or seller who wants to do business with you; it's all automated through the BNT smart contract.
In short, Bancor is an ERC20 token that tracks prices from minute to minute in order for you to trade your other favorite tokens with speed and efficiency. And that's the beauty of this system.
How do you get started?
Grab some ETH and send it to the right address. It's that easy. Send ETH, get BNT immediately. No muss, no fuss. (If all tokens worked that easily the cryptosphere would run a lot more smoothly). Even easier; when you want to buy /sell other Tokens on the platform just go to Bancor and sign in with Telegram, FB Messenger or SMS and you are in and ready to trade. Transfer your BNT over to the platform; or, if you do not have BNT yet; some ETH; and you are ready to trade. As soon as you have ETH or BNT in your wallet on site you are ready to trade STORM, Rivetz, Blacknoon, Decent. bet, FortKnoxter (another of our favorites) and many, many other tokens.
So, while we at CryptoDetail tell you all constantly about which cryptos are for investments and which are not; Bancor is most definitely one geared toward investments. As much as we love Bancor; it is still a third party site; so always remember Crypto Rule # 1; We never, EVER, for any reason, leave our cryptos under anyone else's control. So, even with Bancor, do not forget to stick with the rules to keep your money safe.
Okay, we have talked about the basics. But, there has to be more, right? Indeed there are loyal readers. Aside from ease of use and innovation; we here at CryptoDetail love smart ideas. Well, as intelligent as the team at Bancor is; this whole project was not really their idea.
If not theirs; who's idea was it?
In 1944 there was an international trade conference called the Bretton Woods Conference. This was the place where the nations of the world decided that gold, as tied to the US Dollar, would be the international standard for trade worldwide. However, there was another idea; one that turned out to be a far better idea announced at that conference. What idea was that? BANCOR. At that time Bancor, as envisioned by John Keynes and E.F. Schumacher was to be a new form of currency traded between all nations, and easily convertible to all currencies through what they called the "International Clearing Union". Unfortunately for the world; the "gold standard" won out and that led us all through decades of confusion and massive debt between the nations of the world.
Flash forward to 2017
The name and idea were reborn as the Bancor Protocol, the Bancor Platform and the BNT with the current incarnation on the ETH blockchain. Same idea; better technology. And, this time, mankind is embracing the idea conceived so very long ago.
And now Bancor is an established blockchain project with tens of thousands of loyal followers and users all around the cryptosphere. It's that kind of reach and influence that makes a project secure and ensures its future.
But Wait! There's More!
We know that the key to strength is numbers. And, on its own, Bancor has those numbers we already mentioned. But, the Bancor team are anything but foolish. Bancor has a partner we have talked about extensively here at CryptoDetail; AmaZix. That's right, AmaZix, the cryptosphere's number one promotional company is a Bancor partner. This alliance, through the genius of AmaZix's own Dark Knight; has insured Bancor's success for decades to come by expanding this project's reach from tens of thousands to MILLIONS.
Of course, it's the idea, the tech and the implementation that took Bancor to its position among the ranks of the most popular crypto projects. But, the support, promotions and 24/7 protection /service offered by the AmaZix alliance guarantee this project, this token, and this platform will bring you the trading security and profitability you want.
Is Bancor the last exchange you will ever need?
Not at all. But, it should be one of your go-to sites for trading. And, with the kind of stability and backing, we have discussed; the BNT should be one of your long-term HODL tokens if you want to watch your money grow.
While Bancor isn't the end all be all of the cryptosphere; it is, in our opinion even better. It is safe. It is secure. Bancor is a good idea, built on solid technology. And it's projects like this one that has brought our beloved cryptosphere out of the dark days of "crypto is for criminals" to the multibillion-dollar industry it is today. Bancor has been one of the key players in that kind of growth.
And, as HODLers, Investors, promoters, and everyday crypto users; we are ALL key players in this amazing industry that we have all built together. So, if you are looking for a solid, dependable blockchain project; Bancor is one of the first you should add to your repertoire and your wallet.
Good luck on your crypto journey! Happy HODLing!!!