Bancor Price in India (BNT)

The Bancor protocol is software that allows users to convert their cryptocurrencies into different types of tokens on Ethereum and EOS. The ratio of the transparent reserves of each token determines the price of conversion between the tokens. 

Simply put, Bancor is a decentralised network that aims to offer liquidity to small and micro-cap coins. It also incentivises users who provide liquidity by creating and maintaining pools of assets.

The Bancor exchange starts after the user agrees to the price. 

The Bancor Coin is the native cryptocurrency of the Bancor protocol and acts as an intermediary token.

Here are some of the features of Bancor:  

• One can use it to trade tokens on EOS and Ethereum.
• It helps convert existing tokens into different varieties without using any cryptocurrency exchange platform to carry out the conversion. 
• Bancor provides liquidity to micro and small-cap coins.
• Smart contracts help to match the price with the order size and the liquidity of the coin automatically.

Bancor aims to generate liquidity for altcoins and can be a profitable long-term investment. Bancor price may increase in the future. 

• Users can earn Bancor coins by adding liquidity on Bancor.
• Users can also earn rewards and use them as voting rights in the Bancor governance system.
• Individuals can use the swap feature and swap any tokens supported by the platform through the Bancor currency.

Pros

• Bancor has made the exchange of tokens extremely convenient. 
• Smart Tokens implement the Bancor protocol. It provides continuous liquidity and automatic price-discovery of the tokens.
• It makes the exchange of tokens hassle-free without the involvement of any counterparty. 
• Users don’t have to give up their private keys to carry out the exchange of tokens.
• It is currently available on EOS and Ethereum. However, they are planning to add other bridges over time to provide instant token conversions for other popular cryptocurrencies such as Bitcoin and Ripple.

Cons

• Bancor network practices the concept of Constant Reserve Ratio (CRR) in all their smart token contracts. So, it means that there is a possibility that the reserve value of smart tokens may get depleted. This is the opposite of the claims made by the network.
• Bancor claims that their superior technology will prevent a run on any individual coin and BNT. However, it is may not be accurate as the token may become illiquid during market panic.

• You can start trading in Bancor currency (BNT) for as low as Rs.100. 
• You can instantly withdraw your investments at any time. 
• Trade-in BNT without any fees.
• Track Bancor price.

Bancor had one of the most successful ICOs in 2017, where it raised $153 million in just 3 hours.