Review on Bancor by Paul Maduagwu
Bancor is a fairly trusted project.
Bancor is an Exchange based token. The project enables users to seamlessly exchange Ethereum tokens on their platform, easily, quickly and with less transactions.
At the first glance Bancor looks like just another Exchange, but with its new version (v2) it would become more convenient and profitable for users and liquidity providers too. Thanks to the pool discovery and pool stats tools being added. Liquidity providers would have a better view of the market and where to put their funds for maximum profit. This feature is one of the many that makes Bancor stand out.
$BNT on the other hand feels safe to invest in because it is backed by a working product used by thousands of people. Presently Binance Exchange has the major 24 hour trading volume of $BNT, followed by Bilaxy Exchange then Bancor Network according to Coinmarketcap.
Apart from holding, you can also earn $BNT tokens for partcipating on the Network. Users earn $BNT as incentive for providing Liquidity, by staking $BNT in exchange for trading fees.
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Pros
- Web wallet that also allows easy ERC20 deposit and swaps.
- Recently Updated Github.
- Listed on some well known Exchanges.
- Good partnerships and social media presence.
- Cant be held on any ERC20 compatible wallet.
Cons
- Had an ICO in 2017 which reduces its decentralization.
