How to Buy Banano (BAN) in 2021: A Simple Guide

Banano (BAN)In this guide you’ll get information about where to buy Banano coin, if you are planning to buy BAN – You’re in the right place!

Banano (BAN) is a meme coin that has been live since April 2018. The highlights of Banano are speed, lack of mining, and feeless transaction. It is a 4th generation of edible and fungible cryptocurrency established by a top-notch team and experienced project advisors. This cryptocurrency is designed to disrupt the meme economy with the technology it uses. This meme driven project has a rich community.

As a fork of Nano cryptocurrency, it utilizes Directed Acyclic Graph (DAG) technology for sorting and ordering sequences using different topology. This technology is therefore a great alternative to the standard blockchain technology. Banano inherited all Nano features, meaning that all transactions using BAN are instant and feeless. Being cheap and fast are the ideal characteristics for a meme coin.

Banano (BAN) Features

  • Feeless Transactions. There is no doubt that the magic behind Banano is the use of DAG technology. Using the technology, transactions can technically happen at once at the same time. In other words, transactions are asynchronous. More importantly, transactions on Banano don’t cost any fees. That is because Banano uses a decentralized consensus mechanism in an innovative way. As a result, you can basically get a feeless system without undergoing serious spam attacks.
  • User-friendly designed exchanges. Compared to other cryptocurrencies which tend to be complex, Banano is easier to understand. You are set with just a few taps to do. Even crypto newbies who lack of basic knowledge of cryptocurrency will find it easy to deal with this simplest digital currency.
  • Unique Wallet Addresses. Unlike most other currencies that use long strings of random characters of wallet addresses, Banano has developed a unique monkey shape avatar called MonKey to represent wallet addresses. Each MonKey is unique meaning no two MonKeys are alike.
  • Camo Banano. It is a privacy layer that protects users’ information on the blockchain so it cannot be accessed by anyone else.

Where to Buy, Sell and Trade Banano aka BAN

ATTENTION: At the moment you can only buy Banano (BAN) at CoinEx. You can Ignore the other crypto exchanges for now. However, CoinEx doesn’t support fiat-based payments, so you need to purchase BTC or ETH first then transfer it to CoinEx. If you don’t have BTC/ETH, we recommend you to buy on COINBASE (you’ll also get $10 bonus if you purchase $100 worth of BTC/ETH)

coinex logo

You can basically use debit card, credit card, or even PayPal to buy the Banano (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Banano as the exchange.

With cryptocurrency, things are different. You need to use debit card or credit card to buy the Ethereum or Bitcoin first. After you get the Ethereum or Bitcoin, you can convert it to Banano. 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:

  1. You go to the online exchange and buy the Ethereum or Bitcoin
  2. Find a crypto exchange that supports Banano currency and exchange your Ethereum or Bitcoin with the Banano
  3. Store your Banano to a secured wallet

Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) at Coinbase

There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.

The site will ask for some basic information about yourself, make sure to tell the truth. Otherwise, you could face withholding of your investment. Make sure to type your name, your e-mail, and your password correctly. The stronger your password is, the safest your money will be. You will be asked to check your status as a living being using a re-captcha box and to agree to the terms of use of the platform.

Get $10 Bonus when you sign up for Coinbase!

coinbaseClick here to register (opens in new tab)

  • You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
  • Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
  • You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.

That’s the first step in buying Banano, once you get your Bitcoin or Ethereum, you can continue to the next step.

Step 2: 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 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 with Banano:

BINANCE
binanceBinance 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+
GATE.io
gate.ioGate.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. Gate.io crypto exchange allows users in 49 states within the US to trade the spot crypto market except for Washington State and New York State.

  • 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 565+ more
  • Trading Pairs: 1118+

IMPORTANT! Once you are registered to any of the above, find the BTC/BAN or ETH/BAN trading pair and then place the order to buy those pairing cryptocurrencies. Go back to COINBASE and transfer/exchange your Bitcoin/Ethereum.

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 Banano (BAN) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor

ledger nano x

LEDGER NANO-X

  • Secure
  • Mobile Friendly
  • Easy to Manage
  • Supported Coins: 1200+

trezor model t

TREZOR MODEL-T

  • 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 Banano (BAN) 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 Banano. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.

Can I Buy Banano (BAN) 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 Banano (BAN) with Skrill?

You can’t buy BAN directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Banano. You can buy BTC/ETH with skrill by using these exchanges::

Can I Buy Banano (BAN) with Bitcoin?

Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BTC/BAN and begin the transactions.

Can I Buy Banano (BAN) with Ethereum?

Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support ETH/BAN trading pair.

What Is the Best Payment Method to Buy Banano (BAN)?

The cheapest way is to use bank account to buy Bitcoins first or to buy the Banano right away. The fastest way is to use a credit card but you will then be charged higher fees.

How to Protect Banano (BAN)?

Once you have purchased the Banano, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:

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+

How to Sell Banano (BAN)?

Find a crypto exchange which allow pairing BAN with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.

Can I Mine Banano (BAN) 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 Banano is to buy it from a reliable exchange.

Conclusion

Due to its feeless character and sub-second confirmation time, it can be concluded that Banano is an ideal currency for micropayments. It also has intuitive UI and tipping options that make it a perfect coin to get started with crypto, especially for new users. Until today, it has been already used in thousands of transactions every day for tipping creators on many social media platforms including third party platforms. It is highly likely that the community will further grow as more integrations are upcoming.

Leave a Comment

error: