How to Purchase Ethereum (ETH) using Bancor Network (BNT)

To buy Ethereum using Bancor Network, first, find a cryptocurrency exchange that supports the ETH/BNT trading pair, such as YouHodler, Binance, BTSE or Wirex. Create an account, verify your identity, and deposit your BNT into your exchange wallet. Locate the ETH/BNT pair on the trading platform and place an order to exchange your Bancor Network for Ethereum. If the ETH/BNT pair is unavailable, you can first exchange Bancor Network for a stablecoin like Tether (USDT) or a fiat currency, then trade that for Ethereum. Be mindful of potential exchange fees, which vary by platform and can affect the total cost of your transaction. In Germany, it’s also important to consider the tax implications of your trades, as capital gains tax may apply to your profits from cryptocurrency transactions.