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 project that excites 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, you get what is essentially one of the best ERC20 compliant exchanges in the crypto sphere.
Bancor gives its users access to the platform that lets them instantly buy and sell many tokens. 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 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 correct address. It's that easy. Send ETH, and get BNT immediately. No muss, no fuss. (If all tokens worked efficiently, the crypto sphere would run much more smoothly). Even easier; when you want to buy /sell other Tokens on the platform, go to Bancor and sign in with Telegram, FB Messenger, or SMS, and you are in and ready to trade. Transfer your BNT to the platform; or, if you do not have BNT yet; some ETH; and you are prepared to change. When you have ETH or BNT in your wallet on site, you can trade STORM, Rivetz, Blacknoon, Decent: bet, FortKnoxter (another of our favorites), and many other tokens.
So, while we at CryptoDetail constantly tell you which cryptos are for investments and which are not, Bancor is most definitely 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 innovative ideas. Well, as intelligent as the team at Bancor is, this whole project was not their idea.
If not theirs, who's an idea?
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, leading us through decades of confusion and massive debt between the world's nations.
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 embraces the idea conceived so long ago.
And now, Bancor is an established blockchain project with tens of thousands of loyal followers and users around the crypto sphere. That kind of reach and influence 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 is 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. Through the genius of AmaZix's own Dark Knight, this alliance has ensured Bancor's success for decades by expanding this project's reach from tens of thousands to millions.
Of course, the idea, the tech, and the implementation 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 H.O.D.L. tokens if you want to watch your money grow.
While Bancor isn't the end-all-be-all of the crypto sphere, 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 crypto sphere out of the dark days of "crypto are 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 critical players in this fantastic 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 wallet.
Good luck on your crypto journey! Happy HODLing!!!