In this guide you’ll get information about where to buy Anchor Protocol, if you are planning to buy ANC token – You’re in the right place!
Many projects focus on providing Decentralized Finance services. Yet, among all of those products, there is not a single saving account. Most of the services revolve around keeping the asset liquid and earning yield. Therefore, Anchor Protocol introduces the first crypto-saving account.
Anchor Protocol aims to provide the cryptocurrency world with a saving account that supports quick withdrawal and earns a low-volatility yield. The protocol uses Terra Money Market as the mechanism that will keep the interest rate stable. Users who buy Anchor Protocol (ANC) tokens can start earning rewards by having proof of Stake as a tokenized asset. Then the platform will calculate the Anchor Rate to figure out how much the interest rate is. Anchor Protocol has an easy-to-use interface that will attract various types of users.
- Official Site: https://app.anchorprotocol.com/
- Twitter: https://twitter.com/anchor_protocol
- Telegram: https://t.me/anchor_official
- White Paper: https://anchorprotocol.com/docs/anchor-v1.1.pdf
Table of Contents
Anchor Protocol (ANC) Features
- Stable Interest Rate: Anchor Protocol offers a stable interest rate akin to the saving account in traditional banking. The team believes that it’s important to provide a stable rate as the deposit rewards. Therefore, they adopt the Terra Money Market scheme to get the precise interest rate. Anchor Protocol also defines the loan to value ratio separately for each collateral.
- Terra Money Market: The platform uses Terra Money Market as the core building block for the whole protocol. This model is a WASM that facilitates lending and borrowing transactions in the blockchain. How many assets that Terra users deposit in the pool to act as collateral to borrow. To figure out the interest rate is by calculating the algorithm with a fraction of the borrowed pool. Anchor Protocol uses the same method to calculate the liquidity pool ratio.
- Tokenized Stake: One of the primitives in the Anchor Protocol is the tokenized stake in the Proof of Stake or the bAssets. It’s a fungible asset that any PoS can release. Token holders can still earn rewards from having this tokenized stake. And at the same time, they are keeping their tokens liquid. Both the bAssets and deposits are important factors for Anchor Protocol to determine the user’s liquidity.
Where to Buy, Sell and Trade Anchor Protocol aka ANC
You can basically use debit card, credit card, or even PayPal to buy the Anchor Protocol (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Anchor Protocol as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy Tether first. After you get the ETH or BTC or USDT, you can convert it to Anchor Protocol. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.
In general, the process would be:
- You go to the online exchange and buy the Ethereum (ETH), Bitcoin (BTC), or Tether (USDT)
- Find a crypto exchange that supports Anchor Protocol currency and exchange your Ethereum / Bitcoin / Tether with the Anchor Protocol
- Store your Anchor Protocol to a secured wallet
That’s the first step in buying Anchor Protocol, once you get your Bitcoin or Ethereum or Tether, you can continue to the next step.
Choosing the Best Cryptocurrency Exchange for Your Investments
After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH or USDT from your Coinbase wallet.
With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.
These are the best exchanges we can recommend for you to exchange BTC or ETH or USDT with Anchor Protocol:
Gate.io is a crypto exchange service that is part of Gate Technology Inc. Gate.io is registered in Virginia, United States, and founded in 2017. They only handle transactions using cryptocurrencies, so you won’t find Fiat options with them. Since they work with the best ranked digital assets in the industry, they can average up to $48million in transactions.
- Deposit Methods: Cryptocurrency Only
- Fiat Currencies: N/A
- Supported Cryptocurrencies: BCH, EOS, TRX, ONT, ETH, BTC, BTM, AE, OCN, ADA, IHT, XRP, ETC, NAS, LTC, & over 1040+ more
- Trading Pairs: 1801+
Binance is the top-ranked cryptocurrency exchange in the market, and it’s the place to go to trade large volumes of digital assets. They established their operations back in 2017 in Malta, one of the few countries to openly embrace cryptocurrencies as a financial instrument. They currently average up to 1.2 billion dollars in trade right now. Binance.com is unable to provide services to U.S. citizens or residents.
- Deposit Methods: Bank transfer (ACH), Bank transfer, Cryptocurrency, Debit card, Wire transfer
- Fiat Currencies: USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & 5+ more
- Supported Cryptocurrencies: BTC, EOS, BCH, ETH, FET, XVG, TRX, NEBL, XRP, NEO & 345+ more
- Trading Pairs: 1189+
Bybit is a leading cryptocurrency exchange offering a secure and efficient trading platform for digital asset enthusiasts. Founded in 2018, it specializes in derivatives trading, including perpetual and futures contracts, with high leverage options. Known for its user-friendly interface, Bybit caters to both novice and professional traders. The platform provides advanced tools, including charting and risk management features, ensuring a seamless trading experience. Bybit also supports spot trading, staking, and passive income opportunities. With 24/7 customer support, robust security measures, and a reputation for reliability, Bybit has become a popular choice for crypto traders seeking innovation and transparency.
- Deposit Methods: Cryptocurrency, Credit/Debit card, Third-party payment services, Peer-to-Peer (P2P) trading
- Fiat Currencies: USD, EUR, GBP, JPY, and 60+ more
- Supported Cryptocurrencies: BTC, ETH, XRP, LTC, DOGE, and 300+ more
- Trading Pairs: 500+
MEXC is a global cryptocurrency exchange platform known for its user-friendly interface, extensive range of listed cryptocurrencies, and innovative features. Established in 2018, MEXC provides trading services such as spot, futures, and margin trading, catering to both beginners and advanced traders. The platform supports a wide variety of altcoins, often listing new and promising projects. MEXC is popular for its high liquidity, competitive trading fees, and robust security measures, including two-factor authentication and fund protection protocols. It also offers staking and earning opportunities through its launchpad and DeFi integration, making it a versatile choice for crypto enthusiasts worldwide.
- Deposit Methods: Bank transfer (ACH), Cryptocurrency, Debit card, Wire transfer
- Fiat Currencies: USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & more
- Supported Cryptocurrencies: BTC, EOS, BCH, ETH, FET, XVG, TRX, NEBL, XRP, NEO & over 2,700 others
- Trading Pairs: Over 3,000
IMPORTANT! Once you are registered to the crypto exchange above, Go back to COINBASE and send your Bitcoin/Ethereum/Tether to your new exchange. Find the ANC/BTC or ANC/ETH or ANC/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you ANC/USDT – so you need to convert your BTC or ETH to USDT first in order to buy Anchor Protocol (ANC)
Step 3: Managing Your Crypto Assets in a Secure Wallet
As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.
You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.
There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.
For Securing your Anchor Protocol (ANC) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
- Secure
- Mobile Friendly
- Easy to Manage
- Supported Coins: 1200+
TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.
- Invented for your digital independence
- keeps your keys safe
- Easily back up your entire wallet
- Supported Coins: 1093+
Frequently Asked Questions (Faqs)
Can I Buy Anchor Protocol (ANC) with PayPal?
You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the Anchor Protocol. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Anchor Protocol (ANC) with Cash?
You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:
- Make sure you have a BTC / ETH wallet before you buy from seller
- Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.
Can I Buy Anchor Protocol (ANC) with Skrill?
You can’t buy ANC directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Anchor Protocol. You can buy BTC/ETH with skrill by using these exchanges::
- LocalBitcoins
- Paxful
- Virwox
- SpectroCoin
- Lykke
- Exmo
- Coingate
Can I Buy Anchor Protocol (ANC) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair ANC/BTC and begin the transactions.
Can I Buy Anchor Protocol (ANC) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support ANC/ETH trading pair.
What Is the Best Payment Method to Buy Anchor Protocol (ANC)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Anchor Protocol right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Anchor Protocol (ANC)?
Once you have purchased the Anchor Protocol, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Anchor Protocol (ANC)?
Find a crypto exchange which allow pairing ANC with BTC or ETH or USDT – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine Anchor Protocol (ANC) and Not Buying It?
You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a Anchor Protocol is to buy it from a reliable exchange.
Conclusion
Anchor Protocol aims to provide the DeFi world with a saving account protocol with a low volatility rate. Using the Terra Money Market as the base, the platform offers the Anchor rate that calculates the basic interest rate. Users who buy Anchor Protocol (ANC) tokens can rest assured that their deposits stay liquid and they can withdraw at any time. The platform uses Loan to Value ratio to calculate the value of each collateral to determine an account’s liquidity value and credit score.
