In this guide you’ll get information about where to buy Kyber Network token, if you are planning to buy KNC – You’re in the right place!
The concept of Kyber Network is to transform cryptocurrencies mechanism and methods – changing it into a decentralized ecosystem and creating a trustless exchange network. The platform wants to create something different to the already existing decentralized crypto exchange. They are building and developing an advanced exchange protocol so developers are able to build financial apps and payment flow.
The platform is constructed within Ethereum protocol, so users should have no problem converting or exchanging any crypto instantly. Kyber Network was first launched in August 2017 with ICO following in September within the same year. The developer team has seen this confusing trend, where cryptocurrencies are supposed to be decentralized – and yet many of the exchange platforms have become centralized system. This isn’t something to underestimate because it leads to security issues, opening access to theft and hacking.
Kyber Network (KNC) Features
- Strong and solid community. The platform may not be new in this world, but the community is pretty solid and strong. The platform has done a good job in building a supportive and strong community.
- KNC token. This is the fuel of the platform, connecting (liquidity) providers with those needing of the liquidity. It holds a crucial role within the platform’s development and growth.
- Multifunctional token. The token has different functions. The first one is for transaction fees. The second one is to make sure that reserve system runs smoothly and well. Finally, it connects the exchanges and the platform, including the dApps and wallets. There is also a system where users can get referral fees if they can attract users to the platform because it will boost adoption. The fourth is for staking and the fifth is for passive income generation.
- Governance token. This is another function of the token where token holders can participate in the proposal and voting system.
Where to Buy, Sell and Trade Kyber Network aka KNC
You can basically use debit card, credit card, or even PayPal to buy the Kyber Network (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Kyber Network 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 Kyber Network. 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 or Bitcoin
- Find a crypto exchange that supports Kyber Network currency and exchange your Ethereum or Bitcoin with the Kyber Network
- Store your Kyber Network 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.
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 Kyber Network, 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 Kyber Network:
IMPORTANT! Once you are registered to any of the above, find the BTC/KNC or ETH/KNC 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 Kyber Network (KNC) 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 Kyber Network (KNC) 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 Kyber Network. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Kyber Network (KNC) 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 Kyber Network (KNC) with Skrill?
You can’t buy KNC directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Kyber Network. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Kyber Network (KNC) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BTC/KNC and begin the transactions.
Can I Buy Kyber Network (KNC) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support ETH/KNC trading pair.
What Is the Best Payment Method to Buy Kyber Network (KNC)?
The cheapest way is to use bank account to buy Bitcoins first or to buy the Kyber Network right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Kyber Network (KNC)?
Once you have purchased the Kyber Network, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Kyber Network (KNC)?
Find a crypto exchange which allow pairing KNC with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine Kyber Network (KNC) 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 Kyber Network is to buy it from a reliable exchange.
Users who want to revolutionize the centralized crypto exchange into a decentralized system can always think about joining this platform. It has interesting concept where issues related to slow processing time and expensive costs can be resolved – and even minimized. For long-term investment and future passive earning, joining this platform can be promising. However, the only way to gain access to it is through crypto purchase, so interested users will have to buy Kyber Network (KNC) to join.