In this guide you’ll get information about where to buy Band Protocol, if you are planning to buy BAND token – You’re in the right place!
Band Protocol is a decentralized data oracle, which supports cross-chain operation. What it does is to take data (real world one) and then ‘feed’ it to the (onchain) applications. At the same time, it also connects APIs to the smart contracts to help with information exchange taking place between the off chain and onchain data sources.
Let’s say that a dApp developer needs to enable the users to offer wagers on gold price in the future, then the app should be able to ‘decide’ (or determine) the price within the desired (later) date. By providing verifiable and reputable data to the blockchains, this protocol helps developers unlock new usage cases – where the developers can explore. Whatever category or type they are in (price feed data, random numbers, weather, sports, etc), the developers are able to use any real-world data type as the crucial part of their dApp logic.
Table of Contents
Band Protocol (BAND) Features
- More efficient mechanism. This platform is created to be not only more efficient, but also faster when compared to the (competing) oracle solutions. The platform is compatible also with most smart contract and blockchain development frameworks. It makes sure that reliable and solid data can be fed from and to various different blockchains.
- Especially created for developers. The platform enables (blockchain) developers to create real-world (event) reports, price feeds, and other data oracles which can be used in all dApps types. The platform can connect smart contracts, it has dozens of oracle scripts, it is compatible with cross-chain implementation, and it comes with programmable oracle scripts.
- Permissionless oracle creation. The platform offers this system so that anyone can start servicing data requests. Developers can take advantage from the simple and easy smart contract integration. They can use the data from this platform’s oracles by ‘calling’ a few coding lines within the predefined interface.
- BandChain function. This platform has been designed so it is compatible with all kinds of blockchain frameworks and smart contracts. Basically, it is the one doing the difficult things: taking data from sources, aggregating the data, and then packaging everything to an easily understandable format, as well as cryptographically verified.
Where to Buy, Sell and Trade Band Protocol aka BAND
You can basically use debit card, credit card, or even PayPal to buy the Band Protocol (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Band 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 Band 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 Band Protocol currency and exchange your Ethereum / Bitcoin / Tether with the Band Protocol
- Store your Band Protocol to a secured wallet
Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) or Tether (USDT)
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.
Get $10 Bonus when you sign up for Coinbase!
- 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 Band Protocol, once you get your Bitcoin or Ethereum or Tether, 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 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 Band Protocol:
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 BAND/BTC or BAND/ETH or BAND/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you BAND/USDT – so you need to convert your BTC or ETH to USDT first in order to buy Band Protocol (BAND)
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 Band Protocol (BAND) 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.
- 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 Band Protocol (BAND) 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 Band Protocol. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Band Protocol (BAND) 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 Band Protocol (BAND) with Skrill?
You can’t buy BAND directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Band Protocol. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Band Protocol (BAND) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BAND/BTC and begin the transactions.
Can I Buy Band Protocol (BAND) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support BAND/ETH trading pair.
What Is the Best Payment Method to Buy Band Protocol (BAND)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Band Protocol right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Band Protocol (BAND)?
Once you have purchased the Band Protocol, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Band Protocol (BAND)?
Find a crypto exchange which allow pairing BAND 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 Band Protocol (BAND) 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 Band Protocol is to buy it from a reliable exchange.
Without Band Protocol, it would be difficult to manage trusted data; let alone putting everything into logical perspective. As a data oracle protocol that works in cross-chain mechanism, Band Protocol’s main responsibility is to aggregate and then connect the (real-world) data and the APIs to the smart contracts. The platform may be highly appealing to developers, so they should seriously buy Band Protocol (BAND) to join.