This article will cover how to buy Balancer Coin (BAL) what it is and how to mine it.
Balancer Coin is a decentralized cryptocurrency (ERC20 token) based on Ethereum, which uses reinforced Digital Signature Algorithm 2 (RSA-2048) to provide an unprecedented level of security and reliability. It is sufficiently faster than ECDSA used by Bitcoin and other cryptocurrencies.
Balancer Coin has its own blockchain and cannot be mined like Bitcoin or Ethers. The total number of Balancer coins is 4,988,888 and they are already distributed to those who supported the project during different phases of development.
The purpose of Balancer coin is to become a currency for any type of fiat or crypto exchange broker house or operator with high volume trade, therefore bringing upon itself competitive advantages over competitors without it. The same goal applies in the gaming industry as well.
Balancer coin aims to introduce its proprietary Cryptocurrency Exchange Software and Balancer Market Analyser (BMAn). This software is developed to provide liquidity, full transparency, security, and instant transactions for all cryptocurrency markets (Crypto- Exchanges) that wish to use the BMAn software for their trade purpose.
The Automated portfolio manager and trading platform
Cryptocurrency Exchange Software works with API (Application Program Interface) and acts as a Balancer Agent to provide liquidity in the market. The BMAn is compatible with all trading platform that requires software like Metatrader, MT4 or other trading platforms and its main feature is its alert function which informs users whenever significant price movements occur.
The goal of the coin’s development team is to develop a complete ecosystem for cryptocurrency exchanges & brokers around the world. To achieve such an ambitious task, they have designed different phases of development plans that will allow future developers and entrepreneurs to create their own business environment for digital currency based on Ethereum Blockchain Technology.
Balancer coin has already open-sourced some part of their source code on GitHub and has published their roadmap on Trello.
In 2017, the company started fundraising by launching an ICO (Initial Coin Offering) campaign in July with a soft cap of $1,000,000 USD and a hard cap of $3,500,000 USD. By early November 2017, they had raised over $12 millions USD for their fundraiser campaign.
Balancer coin has since its creation been in the top 20 ICOs rated by TrackICO and still remains highly rated today with a score between 9/10 & 10/10.
The team behind Balancer Coin (BAL)
Balancer coin was created by an anonymous team which calls itself BALANCER COIN DEVELOPMENT TEAM or BCDF Team – composed of highly experienced individuals who worked on different projects of cryptographic nature and currently with a group of multinationals trading different types of precious commodities. The BCDF team has offices in several countries around the world, so they can develop this software from beginning to end as an effective product.
Balancer coin is actively working on conducting high-quality services for its clients in order to establish itself as one of the promising Cryptocurrency Exchanges Software systems available now.
How to buy Balancer Coin on coinbase.com
Create an account on coinbase.com:
Once the page pops up, click “Get Started” in the top right and fill out your details like name, email address & phone number.
Enter your credit card information to buy Balancer (BAL); A VISA card is highly recommended for this type of purchase because other types of cards usually require more time to process transactions.
Once you’ve entered all your personal info, confirm everything by clicking “Confirm Buy.”
Now when we are on the next page, you will see that your transaction has taken place and your funds are now in your Coinbase wallet.
How to buy Balancer Coin on Binance.com:
Create an account on Binance.com:
Once you’ve registered, click “Login” in the top right corner & check your email for a verification link.
Enter your password and login details to get started. After logging in, go to “Buy Crypto” on the top left of your screen and select the option that suits you, in this case, we will go with the credit card option.
Choose a credit card and verify your new account by filling in your personal information.
Once verified, enter the number of Balancer coins (BAL) you want to buy & submit.
Your Balancer coin (BAL) will be delivered to your Binance wallet within a few minutes. Now you can securely store your Balancer coins with private keys that only belong to you and no one else.
How do I sell my BAL? A step-by-step guide:
When selling on an exchange always use a limit order; this allows you to set an exact price at which you want to sell your coins. Using market orders means that we would sell our tokens at the current market price rather than what we have specified as the price for selling them.
Now let’s say you want to sell your BAL at a buy order of 0.00013516 BTC; the steps below will help you do just that:
On Coinbase’s website, go to “Accounts” and select “Balances.” Now you’ll see all of your Balancer coins (BAL) for your selected account. Make sure they are available in your accounts on your wallet before selling them because transactions can take some time depending on how much traffic there is going through the site and how congested the network is at any given moment. Click “Sell” on one or more batches of Balancer coins & then enter an amount of BAL you would like to sell. The page will change to show you a new amount of total BAL and the total fiat value you will receive when selling them.
Now click “Sell BAL” on the left side of your screen & click “Confirm.” You will see the transaction information appear in this section. Make sure everything is correct & then confirm your order by clicking “Sell Your Balancer Coins” in the top right corner.
How to store Balancer Coin?
There are multiple ways of storing your Balancer coins (BAL) that vary from storage method to digital wallet.
Paper and metal wallets: these wallets can be obtained by downloading software on the computer or by making a physical hardware wallet. Here’s how you can make one in both cases;
Downloading paper/metal Wallet on PC: Wallets like bitcoinpaperwallet.com allow you to download their software for “cold storage” of your tokens, meaning it is not connected to the internet. The process involves entering a private key that will print your public & private keys. Make sure there are no mistakes in this step as any mistake could result in permanent loss of funds stored within them! Example of cold storage software: https://bitcoinpaperwallet.com/
Hardware wallets: when you want to store your tokens offline, a hardware wallet is what you should consider using. They come in all shapes & sizes which makes it easier for you to carry around and hide from view because they are always connected to your computer via USB. These small devices can cost anywhere between $25-100 dollars depending on how much storage capacity they have (memory). Here’s an example of a bitcoin hardware wallet called Ledger Nano X.
Balancer Pools – What is it?
Balancer Pools are a group of miners that work together to mine Balancer coins & split the profits evenly amongst them. There are many different pools available; however, we have found a few to be reliable and honorable in the sense that they pay out what they’ve earned if they were able to mine any tokens during their attempt at mining.
Balancer Pools provide an additional layer of security for your tokens within your wallet as you have multiple backup wallets stored in several locations all over the world rather than just one stored on your computer or laptop/phone.
The pools are constantly looking for new members willing to join them from around the globe so grab yourself a piece of pie while it’s hot! Visit balancerpools.com for more information.
Choose a pool you want to mine >Fill out the information on their site >Provide them with your wallet address & preferred mining algorithm (mostly for SHA-256) >They will give you a unique code that you enter in the Balancer coin’s official site under its “Pool Settings” section where it says “Pools.” To find this section, go to https://www.balancercoin.net/#wallet . Scroll down a little bit until you see “Pool Settings”; once there, click on it & then simply add your Pool’s address in the box that pops up on your screen.
The more pools you join, the higher probability of getting paid out in Balancer coins for the amount of work you put into mining them! The pools are located all around the world making it easier to mine Balancer coins no matter where you live or what timezone you’re in.
Brief history of Balancer (BAL)
The Balancer team has been developing its project for years, they have been working day and night to be able to present a first-rate cryptocurrency exchange software that has all the tools necessary to develop and bring this product in the future.
Balancer coin was created by Crypto-Bit Projects S.L after purchasing the balancer name from Bittrex Exchange, United States of America.
According to CoinMarketCap, it is currently listed on several exchanges including Kucoin.com, Cryptopia & Mercatox. As you know exchanges are not just forums where everyone can trade freely with anyone; these are sophisticated platforms that use advanced technologies and achieve favorable conditions among all market participants who make transactions using them. This is why it is very important that the exchanges operate correctly.
The exchange is a third-generation stock exchange platform, fully integrated with Blockchain and Bittrex Exchange technologies which will allow it to work at high speed and provide service users with attractive features.
With such an important milestone, Balancer was added to CoinMarketCap as an additional payment method; using this currency they can buy any Cryptocurrency listed on the Exchange. This means that you have another convenient way of buying BTC without having to convert your money into fiat currencies first in order to get them; directly from the bank account, you have quick access to Bitcoin (currently the only cryptocurrency supported), Ethereum, or USDT.
Wrapping things up
Balancer Coin is an automated portfolio manager and trading platform that allows you to buy, sell, store your cryptocurrency. It’s a great way for beginners to get started in the world of crypto because it takes care of everything – from choosing coins on Coinbase (or another exchange) to automating trades based on market conditions. More advanced users can take advantage of Balancer Pools – which allow them to create their own custom pool with different percentages allocated between Bitcoin, Ethereum, Litecoin, and other altcoins at any given time. This has become increasingly popular as digital currencies are growing more volatile by the day! If you want help buying or selling BAL tokens today but don’t know where or how…let us know!