Kyber Network, one of the first projects that come to mind when mentioning decentralized crypto exchanges, also owns a cryptocurrency named Kyber Network Coin. The blockchain-based liquidity owned by Kyber Network allows many investors to trade tokens in a decentralized manner. This system closely resembles the mechanism of the Uniswap crypto exchange. Developers on the Kyber Network can implement different payment flows and enable multiple financial applications to interact.
Actions that can be performed on Kyber Network include ERC-20 based token payments, swap services, and development of decentralized financial applications. The question of what Kyber Network is can be summarized in this way. The remarkable increase in discussions about Kyber Network in 2020 is no coincidence. But what do the comments about Kyber Network Coin indicate about its future?
What is Kyber Network Coin?
Kyber Network Coin can be considered similar to UNI, the coin of Uniswap crypto exchange. Investors can earn KNC Coin by providing liquidity to the decentralized exchange, participating in a project whose value is continuously increasing. Besides purchasing KNC Coin, providing liquidity is also seen as an important plus for the future of Kyber Network Coin.
KNC Coin Review
Currently, there are 198,033,931 KNC Coins in circulation, with the maximum supply being 210,391,783 KNC. As of this writing, the value of KNC is observed at 0.98 dollars.
Kyber Network Coin holders enjoy additional advantages on the Kyber Network crypto exchange, along with various discounts on transaction fees. Thus, KNC can be considered the core and governance token of the decentralized exchange. While KNC can be directly purchased from its exchange, many investors opt for Binance for high liquidity and security. It can be said that as long as crypto exchanges and especially the DeFi craze continue, KNC Coin will remain popular and be among the leading projects in the industry.
Buying Kyber Network
So, what do investors need to do to purchase KNC Coin?
KNC can be easily bought on Binance by following these steps:
- To buy KNC, first, deposit USD balance to the exchange or purchase an alternative cryptocurrency. For this, go to the Binance homepage, click on the “Buy Crypto” option in the top left, and select the “Credit/Bank Card” tab.
- In the opened tab, select how much USD you want to trade with, and choose Tether, i.e., USDT in the Coin section.
- After buying USDT, preview the “Buy-Sell” option in the top left, click on the “Classic” tab.
- In the section that opens, select the USDT tab in the top right, type KNC in the search button, and select the KNC/USDT pair that appears below.
- Then go to the “BUY KNC” tab in the middle, enter the amount you want to buy.
- Enter the desired amount and complete the KNC purchase by confirming the transaction.
