The Bancor network is a decentralized liquidity network. It allows you to hold any Ethereum token and covert it to any other token in the network. If you’re unfamiliar with the project check out my previous article.
Today we’ll check out actually using the protocol.
First, go to Bancor Protocol and sign up.
You’ll have to create a password and save a seed phrase. Make sure to store both in a safe place.
When you sign in you’ll be given an option of signing in through Messenger, Telegram, or WeChat. I use Telegram. Just follow the links, it’s easy.
To fund your wallet first click on the person icon at the top right of the screen (see the picture below). Then click on My Wallet and then the Receive button.
Once you have tokens in your wallet you can easily convert.
Take a look a the screen shot below, all you do is click on the Buy button of whatever crypto you want. Then when the buy box pops up you exchange it for the crypto you want to get rid of.
Tip… save your transaction IDs just in case something goes wrong.
i sent tokens and exchanged. Very quick. Easy peasy.
Keep in mind though the wallet is in beta, so don’t go crazy. But I like what I see from Bancor so far.
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