Accept Payments in Bancor

Bancor

Dynamic Prices

What is Bancor Cryptocurrency?

Bancor is a Blockchain platform which allows users to connect between different tokens other than exchanging them through exchange platforms. The main aim of this network is to offer liquidity to tokens which lack consistency when it comes to supply and demand especially in exchanges. More to that Bancor is working to support illiquidity which is evident in the digital currency market. This illiquidity may not be an issue for the popular coins like Bitcoin and Ethereum since there is always demand and supply. However, there are other tokens which may not be having enough attention in the digital currency market.

In general, the liquidity of a token is determined by the availability of buyers and sellers and therefore a token which is liquid is a token which one can buy or even sell any time of the year. With most tokens having a hard time to exchange Bancor wants to help then establish liquidity. The team said its work on a network which can host millions of tokens in future.

Bancor has its own token called BNT and it was included as the first token in the Bancor network and will be held as a reserve to the other tokens. The concept of Bancor is an idea from World war 2 described as super-national currency which would help to trade all over the world as well as protecting the poor nations from debt.

The main idea of the protocol is to become a standard for digital currencies which will enable all tokens to have relationships and enable them to demand conversions mainly through smart contracts without the need for a center party.

How to accept BNT payments on your website

ExagonPay enables businesses to allow crypto payments of all popular digital currencies including Bancor coin. To eliminate cases of cryptocurrency volatility ExagonPay automatically converts all cryptocurrency payments to Euro or USD or even Bitcoin depending on what the client prefers. To start accepting Bancor in your platform as a means of payment and all other digital currencies including Bitcoin, Ethereum, Litecoin, Bitcoin Cash and the others sign up with ExagonPay. After signing up create an API if you want to use the e-commerce plugins but if not then create a normal payment account.

Note that clients who want payments only in digital currencies do not need to verify their accounts but those who want conversions on to USD or even the Euro then need to verify their identity for transparent and security of other users.

Get access to the ExagonPay platform.