In an older video, I covered the BANCOR ICO. The ICO raised funds of ($153 million), but for most of 2017 it performed poorly. Then in late 2017 into 2018, the tokens were priced as high as $10 USD.
Sometime in the last several months, they got their protocol more operational than previously. ERC20 tokens are now exchanging on the BANCOR protocol system including EOS. https://www.bancor.network/discover/tokens
On their website, you can buy and sell using a browser wallet like Metamask. This is good to be aware of because this makes the BANCOR system an alternative to using Changelly or Bitfinex for buying EOS and other ERC20 tokens.
While I am presently not impressed with the alternative coins that BANCOR stated that users could launch, that it can trade well-known ERC20 tokens is a decent advantage of their present setup. Be aware I have not tested their platform, so if you use it, let me know how it works.
Is it worth Investing in BANCOR?
As to whether the BANCOR token is a good investment, this depends upon how many projects and investors are using their system in the future. While DEX tokens tend to be good investments (Counterparty and Blocknet), I am unsure if they are amazing investments compared with other crypto projects. In a way, BANCOR's system seems easier to use than Counterparty or Blocknet, but does it matter?
2018 Competition
To me, the #1 competitor of BANCOR's system for everyday users will be Steem. BANCOR holds the advantage with traditional ERC20 tokens on the Ethereum platform. Steem will not be able to compete in that arena. However, for ease of use, and fast-setup, I believe Steem Smart Media Tokens will be superior to the BANCOR protocol. The BANCOR network took ages to get going after their ICO, which minimized the amount of free marketing they could have had. Now that it is running, it is not really that impressive in terms of what it offers.
Even if everyone could easily launch tokens on the BANCOR protocol... is it really preferable to Steemit's SMT's?
The advantage of Steem is a broader base of every day users, rather than just institutional investors. Steem will have institutional investors if there are decent projects, but it also has just normal investors. Steem will also be utilizing much lower transaction fees.
BANCOR gives us a little insight into what Steem will do after SMT's
What I find most interesting about the BANCOR system is that it gives us a little insight into what SMT's will enable Steemians to do. If someone builds out the website technology, we'll be able to do browser wallet trading directly without using any exchanges. This would apply to all tokens launched on the Steem blockchain.
Linking Chains
It is also my hope that someone attempts to build bridges from the Steem blockchain to the other major blockchains such as Bitcoin and Ethereum. The idea of a bridge is that Bitcoin, Ethereum, and Ethereum tokens would be readily exchangeable on the Steem blockchain, giving this chain more influence in the financial markets.
What do you think?
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will have to look more into the bancor but thanks for giving the overview :)
The expectations for SMTs are quite high but if they deliver (likely), it would be a much better investment for pretty much all the reasons you've outlined in your previous post. I agree that buying STEEM would be the better option.
When it comes to decentralized exchange protocols, I like both Airswap & 0x. Both have good teams & are promising projects built on Ethereum for peer-to-peer ERC-20 trading. As specialized DEX protocols quickly become more prominent, Bancor's current peer-to-peer trading merits will overshadowed, thus reducing its overall appeal to simply token *creation over token *trading.
Bancor is a nice investment indeed
I made research
You could as well go for It
great post @crypto-investor i like your post to much. thanks for sharing post
thank you for given this news..
earn a lot of money.
most welcome man!!
I'll research a bit on bancor and then decide to invest or not because it is better in crypto market to do your own research
i think its great looking at it from your post you got the details to it :)
this has given me more details about it thanks for sharing it @crypto-investor will see it :)
i didn't knew about the bancor the things are great inside it
For whomever is interested; a great podcast with Kevin Rose interviewing the co-founder of Bancor http://www.blockzero.show/239b33f2
Hey @crypto-investor, have you ever tried trading on RadarRelay, it's a 0x built decentralized exchange which allows you to trade ERC-20 tokens directly from a LEDGER (or Metamask), I recommend you check it out,
I wrote this guide a few days ago to help people navigate it:
cheers