Banano is a meme token that claims to support feeless instant transactions. After hard forking from the Nano coin, Banano has worked hard on developing a passionate community of Banano token holders. We’ve created an easy step by step guide to buying Banano tokens online securely.
What is Banano?
Banano is a community-focused meme token that provides a system for feeless and instant P2P payments. Banano was created in 2018 as a hard fork of Nano coin, a digital payments project. The team behind Banano features team members who previously worked on Nano.
Bananas, monkeys and potassium references feature heavily on the wallet, website and whitepaper (called the “yellowpaper”). Banano aims to be a meme token that provides real features and can be used for more than just speculation. The native token, BAN, is used for feeless, instant peer-to-peer payments.
The project distributes many of its tokens through airdrops, giveaways and competitions as part of developing a strong, passionate core community.
If you want to buy BAN tokens online you’ll need to visit a cryptocurrency exchange. This is an online trading platform for cryptocurrencies and digital assets. Some exchanges like Binance or CryptoWallet will let you buy tokens using a credit or debit card.
Other exchanges only trade crypto tokens for other crypto tokens. These crypto-only exchanges are known as altcoin exchanges and do not accept fiat money.
BAN cannot be purchased using fiat cash at the moment. You’ll have to buy a cryptocurrency like Bitcoin (BTC) or Ethereum (ETH) using a popular cryptocurrency exchange such as CryptoWallet or Coinbase. Then you can head over to an altcoin exchange and trade your tokens for BAN tokens.
Don’t be worried if this sounds complicated! We’ve got you covered with our simple step-by-step guide to purchasing Banano tokens online with CryptoWallet.
You can purchase crypto tokens with a debit or credit card through CryptoWallet. With our mobile app, you can trade cryptocurrencies wherever you are, and our crypto card allows you to spend your tokens at retailers all around the world.
Step 1: Register on Fiat-to-Crypto Exchange
To get started, create a CryptoWallet account and setup your cryptocurrency wallet as follows:
- To sign up, scroll to the top of this page and click on New Account. You will be asked to provide your personal information as well as verify your identity at this stage.
- You will be guided through the steps of creating your own cryptocurrency wallet. You’ll be given a seed phrase to use if you need to regain access to your account. This phrase should be written down on paper rather than saved on an electronic device. Then, store this paper somewhere secure.
- Once you’ve registered, you’ll be able to add fiat money to your crypto wallet. After that, you’ll be able to buy and trade cryptocurrency tokens!
Step 2: Buy BTC with Fiat Money
The next step is to deposit fiat money into your wallet and use it to buy Bitcoin tokens. You may instantly add money to your wallet by using a bank card or a wire transfer. When the transfer is complete and the cash appears in your wallet, you can purchase BTC tokens.
Visit our cryptocurrency exchange to select the cryptocurrency that you want to purchase. Select the quantity of Bitcoin you wish to purchase and confirm the price.
After you click the Select button, your BTC tokens will be sent to your wallet. The order may take a few seconds to be completed and shown in your wallet.
Step 3: Transfer BTC to an Altcoin Exchange
The next step is to transfer your BTC tokens to an exchange that supports Banano. You’ll need to use a separate altcoin wallet that accepts both Bitcoin and BAN tokens. MetaMask (a browser extension, mobile app, and desktop software) and TrustWallet (a mobile app) are well-known hot wallets for keeping both tokens.
Other wallet options that support both are available, but you should do your research to ensure the wallet is secure and not a scam. Once your new wallet has been created, you can use your keys to transfer your BTC tokens to it. Now you’re ready to trade your BTC tokens for BAN tokens.
There are several altcoin exchanges that support BAN tokens including Coinex, Mercatox, HotBit or PancakeSwap. Token pair exchange rates will vary between exchanges, so it’s important to look around for the best market pairs.
Head to your chosen crypto exchange and trade your BTC tokens for BAN tokens. Select the BTC/BAN trading pairs from the exchange page. Choose the amount of BTC you wish to trade and confirm your choice. Your tokens will be exchanged and BAN tokens added to your wallet.
Last Step: Store Banano Securely
The final and most important step is storing your tokens securely! You’ll need to use a separate altcoin wallet since many altcoins aren’t supported by larger exchange wallets.
Many sites offer wallets that claim to handle BAN tokens; however, some of these wallets are scams to steal your funds. To help you make your decision, we examined some of the most secure wallets on the market.
First, let’s define a cryptocurrency wallet. A wallet is made up of two keys that will be used to receive and send tokens. A private key is used to send money, while a public key is needed to receive tokens. Wallets are categorized into two types: “cold” physical wallets and “hot” online wallets.
Cold wallets, also known as hardware wallets, are the most secure since your keys are stored on a physical device offline.Ledger and Trezor are well-known wallet manufacturers that make a variety of hardware wallets to match your needs. However, to fully use them, they must be connected to an internet device, which can be inconvenient.
Hot wallets, also known as software wallets, are significantly more convenient since they let you access your assets from anywhere and at any time. However, because of their constant internet connection, they are significantly more vulnerable to hacking.
Many large exchanges have solved this issue by assuring tokens stored in their wallets. BitGo, a market leader in digital asset protection, backs up all of your CryptoWallet holdings.
Many cryptocurrency investors hold the majority of their crypto assets in a secure wallet like CryptoWallet. They then store and trade altcoins including BAN using an altcoin wallet such as MetaMask or TrustWallet. This way the bulk of their assets are secure and backed up.
We think CryptoWallet is an excellent choice since it allows you to store the top five cryptocurrencies in terms of market capitalization and volume (BTC, ETH, XRP, USDT, and LTC).
Our mobile app means you can access and trade your tokens from anywhere, and our crypto card allows you to spend your money at stores worldwide. BitGo will guarantee all of your cryptocurrency tokens, giving you peace of mind that your investments are secure.
Other Useful Tools for Trading Banano
CoinMarketCap has a page dedicated to almost every cryptocurrency, including information such as cryptocurrency price history, whitepapers, community sites, price charts, market data, and much more. If you’re unfamiliar with a token, here is an excellent place to start. On the market tab of the coin’s page, you’ll also be able to see where you can purchase or sell the coin.
Shrimpy is a crypto asset portfolio tracker that lets you connect your various wallets and accounts. It gives you a comprehensive view of all your holdings.
CryptoMiso tracks the activity of projects on GitHub to see how active the development of the coin is. It’s a useful tool for investors looking for the next big thing. Using CryptoMiso you can check if a new coin has the activity and team behind it to develop into a mainstream token.
Can I buy Banano with cash?
No. Although various platforms claim to allow you to buy Banano with cash, it is critical to conduct comprehensive research before acquiring any crypto tokens online. These websites are sometimes hoaxes aimed at stealing your money or personal information.
Are there any quick ways to buy Banano in Europe?
The most safe and effective way to buy BAN tokens is to first buy BTC tokens from an exchange like CryptoWallet and then swap them for Banano coins on an altcoin exchange.
Buying tokens is easy with our mobile app, and you can trade crypto currencies anywhere you are. Because CryptoWallet is a certified and regulated service for buying digital assets, you can be confident that your funds are secure.
Are there any alternative platforms to buy Banano or Bitcoin with credit cards?
Many platforms claim to allow credit or debit card transactions for Banano or Bitcoin purchases. Many of these sites, however, are scams designed to steal your personal information or money.
That is why, before purchasing any cryptocurrency online, you should always do your own research (DYOR). When using a credit card, always buy cryptocurrency from a regulated and safe website like CryptoWallet.