Bancor Progress Update: Native Wallet, Fiat Gateway, Record-Breaking Volume
These past few weeks have been incredibly exciting for Bancor as we launched the Bancor Wallet along with Bancor’s first fiat-to-crypto gateway. The releases have improved the usability of the Web App and, in turn, created a surge in activity that broke daily volume records on the network. This feels like a pivotal moment for Bancor and we’re thrilled to share the latest update:
Bancor has released a mobile-friendly native wallet that allows users to purchase, store and manage any ERC20 token and easily convert between any token on the Bancor Network. The wallet is the first of its kind to offer automated token conversions with instant on-chain settlement. No central servers storing your money, no minimum deposits and no withdrawal fees.
Driven by design and built with simplicity in mind, the new wallet (combined with the fiat integration) makes Bancor an end-to-end decentralized solution for frictionless, on-demand access to tokens.
Need help? Try these tutorials:
Bancor users can now purchase ETH, convertible to any token in the Bancor Network, using any major credit or debit card. The addition of a fiat-to-crypto integration removes the need for users to purchase ETH from an exchange before converting tokens on Bancor. Now, even users who are completely new to crypto can instantly buy and sell tokens without having to visit an exchange.
Before the Bancor Wallet went live, a large portion of visitors who arrived on Bancor’s site to buy and sell tokens were unable to immediately do so because they did not have a supported third-party wallet or a Web3 wallet (such as MetaMask) installed on their browser. Now, users only need a Telegram, WeChat or Messenger account to start buying and selling on the Bancor Network.
As we’ve removed friction from the token conversion process — both within the Bancor Wallet and within any wallet that integrates Bancor’s open-source protocol — conversion volume on the network has spiked. On April 23rd, daily volume on the Bancor Network hit an all-time high of over $17,000,000.
Bancor is now the #1 decentralized solution for token conversions by volume, a title it has consistently held for several weeks.
Live Tokens: 70 & Counting!
A handful of new tokens are now live and instantly convertible on the Bancor Network, bringing the total number of active tokens to 70! Newly active tokens include:
Bancor Hosts Inaugural Building Blocks Event
Earlier this month, Bancor launched its first-ever event series. Bancor Building Blocks gathers brilliant minds creating the foundation of the digital currency economy to demo and deconstruct blockchain-based innovations. In our debut block, we hosted the team from Aion, a protocol for connecting blockchains, for a night focused on the future of cross-chain development.
Aion’s Matthew Spoke (CEO), Kesem Frank (COO) dove into Aion’s evolution and vision, while Jin Tu (CTO) shared a technical overview of the project as well as tools and techniques for building tomorrow’s inter-chain bridges. Bancor’s Galia Benartzi (Co-founder, BD) spoke to the audience about the importance of cross-chain liquidity, followed by Yudi Levi (Co-founder, CTO) and Or Dadush (Bancor Solidity developer), who showed how developers can use Bancor’s quickConvert API to create a trading bot.
Stay tuned for videos of the talks and demos, and get notified of the next iteration of Bancor Building Blocks.
Bancor’s Bug Bounty 2.0
After a brief hiatus, Bancor’s Bug Bounty Program is back and 40,000 BNTs are up for grabs! If you’re the first to catch a bug in our smart contracts, website or software, we’ll reward you for the great work. Learn more here.
Bancor in the News
Bancor on CNBC
Galia spoke to Street Signs Europe earlier this month about the current crypto climate and the wallet launch: “Crypto is moving beyond speculation and into an era of products, purpose & proof.”
- Bancor Network Launches Native Wallet With Built-In Token Conversion (Cointelegraph)
- One year after ICO mania, these big-money projects are delivering (VentureBeat)
- The Top 5 Decentralized Crypto Exchanges to Watch out for in 2018 (The Merkle)
- Bancor takes on crypto exchanges with wallet that converts across tokens (TechCrunch)
- Eyal Hertzog and VC Tim Draper Discuss Bancor (Crypto Beadles)
- Cryptocurrency Is Not Just a Boys’ Club (Glamour)
- Bancor launches a cryptocurrency wallet that converts instantly between tokens (VentureBeat)
- Bancor: Solving the Problem of Cryptocurrency Illiquidity and Token Conversions (Tristone)
- Decentralized Exchange Bancor Enables Users to Buy Ethereum With Credit Card (NewsBTC)
- Bancor Launches New Cryptocurrency Wallet for Token Conversion (Finance Magnates)
Oslo Blockchain Day, Oslo, 4/24/2018
Ethereal, NYC, 5/11/2018
CoinDesk Consensus, NYC, 5/14/2018
Cube Tech Fair, Berlin, 5/15/2018
Token Summit, NYC, 5/16/2018
Flying Money, Amsterdam, 5/22/2018
The Next Web Amsterdam, Amsterdam, 5/24/18
As always we’d love to hear your thoughts on the product and progress. Stay tuned for next month’s update where we’ll dive into another major product release. For an ongoing discussion with the community and team, please join our Telegram group where great moderators keep the cryptopeace.
To liquidity & beyond,
The Bancor Team
Buy and sell ERC20 tokens instantly on the Bancor Network, including ETH, EOS, BNT, BNB & more!
Launching a Token?
If you’re launching a new ERC20 token or have an existing one, contact us to learn more about the Bancor Protocol for continuous, on-chain liquidity: