Recently, the Barnbridge platform has become popular in the DeFi community. Due to Barnbridge’s popularity and usefulness, many users typically ask important questions like “how to buy Barnbridge (BOND)” and “where to buy Barnbridge.”
If you want to buy Barnbridge but don’t know where to start, you should read this article from start to finish. We will cover the fundamental steps of buying Barnbridge, as well as some important topics about the cryptocurrency.
Barnbridge (BOND) Buying Guide
Step 1: Find An Exchange That Supports BOND
To start buying BOND, you must create an account in a compatible crypto exchange. Finding this exchange is easy because there are numerous active marketplaces that support BOND.
Cryptocurrency platforms may be similar in purposes but different in operation. Some crypto exchanges have seamless functionality while others have premium security with reasonable transaction fees.
- 500+ Cryptocurrencies Available for Trade
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- Available in Europe, Asia, Oceania, Africa
- 1500+ Cryptocurrencies Available for Trade
- Fees (Maker/Taker) : 0.2%*-0.2%*
- 10% reduced trading fees & up to $170 in USDT vouchers*
- Available in North America, South America, Europe, Asia, Oceania, Africa
Registering to a crypto exchange will take only a few minutes. To start, you must enter your basic personal details like full name, email address, and password. The crypto exchange may also require you to add a home address and a phone number for verification.
You probably need to fill up a KYC (Know Your Customer) form before proceeding with any transaction. The KYC process is a security option implemented by heavily regulated exchanges and financial websites.
Step 2: Deposit Funds to Your Exchange Account
Before buying a BOND token, you must add funds to your new crypto account. Depositing funds is easy because most exchanges allow crypto-to-fiat transactions. Some of the popular examples of fiat currency are USD, AUD, and EUR. You can fund your account through debit cards, credit cards, bank transfers, and e-wallet transfers.
Crypto exchanges have different payment methods for transactions. These methods probably have higher fees than the ones you’re commonly using. So, before depositing funds to your crypto account, you should do your own research.
Step 3: How to Buy Barnbridge Officially?
Learning how to buy BOND is not difficult. First, you must go to a crypto exchange’s search bar. Oftentimes, the search bar is located on top of the website page. Once you’ve located the search bar, start looking for the BOND ticker. You can also look directly for BOND trading pairs to save time. Afterwards, just enter the amount of the BOND tokens that you want to buy.
You must always double-check the transaction details to avoid errors or inconsistencies. Additionally, before the transaction, crypto exchanges might refer you to their exclusive wallet software. This wallet is essential for storing your cryptocurrencies, but it is optional since you can always create an individual software wallet. If you have money to spare, you can even purchase a hardware wallet with competitive security encryption.
Everything You Have to Know About Barnbridge (BOND)
The Barnbridge platform is a risk tokenization system designed to formulate hedges against yield sensitivity and asset volatility. By tokenizing various risk positions, Barnbridge can offer better liquidity pools and flexible risk management. The tokenized positions in Barnbridge are known as senior or junior tranches. These tranches are also ERC-721 and ERC-720 tokens to begin with.
Barnbridge is not a centralized legal or financial incorporated entity. Rather, it is a decentralized platform powered by Ethereum. The native token of Barnbridge, BOND, is essential for governance and proposal voting. In effect, BOND holders determine the general direction of the Barnbridge decentralized platform.
Barnbridge also has three major applications for risk management. The SMART Yield offers debt pools linked to prominent money markets like Compound and AAVE. Barnbridge’s other two products are SMART Exposure and SMART Alpha. These products are useful for hedging portfolio risk and asset volatility.
How Does BOND Work?
The Barnbridge crypto-hedging platform operates with diverse risk management systems. These systems work side by side with active markets, relying on pooled collateral deposited into other profitable systems. Afterwards, the Barnbridge protocol organizes different levels of yields into specific tranches.
The BOND token extends the usefulness of the Barnbridge platform. This token is also powered by Ethereum, allowing users to vote on proposals or projects. Staking BOND tokens will generate continuous rewards and incentives.
What Makes Barnbridge (BOND) Unique?
Barnbridge is unique because of its useful products and systems designed for hedging the risks of derivatives. If you’re losing money from derivatives and money market options, you should try any of Barnbridge’s products.
These are the popular products of Barnbridge:
- SMART Yield – Mint bonds, stake them, and earn variable rewards
- SMART Exposure – Automatic rebalancing of two assets in your portfolio
- SMART Alpha – Junior users pay a portion of an underlying asset to Seniors. If the price appreciates, Juniors receive more of the price. Conversely, Seniors receive price protection up to a certain limit. The trade-off is that they must agree to exposure during market upswings.
Who Are the Founders of Barnbridge?
The Founders of Barnbridge are Troy Murray and Tyler Ward. Murray has extensive crypto experience as he once founded a crypto R&D firm called RUDE_Labs.
Tyler Ward, on the other hand, founded Proof Systems – a digital marketing company focused on the fintech sector. Ward also worked with various entities like ConsenSys, SingularDTV, and snglsDAO.
What Are the Use Cases of Barnbridge?
Barnbridge has several use cases revolving around its key products. Understanding these use cases will help you determine if Barnbridge is aligned with your risk appetite.
- Treasury pools for asset diversification
- Perpetual asset speculation (everyone has opportunities in Barnbridge)
- Low-volatility collateral for lending entities
- BOND staking incentives
Who Builds on Barnbridge (BOND)?
The Barnbridge decentralized platform is the solution for investors who are tired of adjusting to different types of exposure in crypto markets. Service providers can also use the Barnbridge platform to grow their crypto assets without spending too much.
Official website: https://barnbridge.com/
Essential Points of the Barnbridge (BOND) Whitepaper
The Barnbridge Whitepaper emphasized the products and operating aspects of the Barnbridge platform. The paper also highlighted the multiple use cases and purposes of the BOND governance token.
These are the strong points of the Barnbridge (BOND) Whitepaper:
- Barnbridge risk tokenization products
- Junior and Senior tranches
- BOND staking rewards
- Barnbridge app and specifications
- BOND tokenomics
- Barnbridge DAO roadmap
- Future plans
The Best Cryptocurrency Wallet for BOND
After knowing how to buy BOND, you should think about the security of your cryptos next. Fortunately, you can always choose from dozens of available crypto wallets. You should pick a crypto wallet based on your trading habits and security preferences.
You will likely begin your crypto journey with hot storage wallets. These digital wallets are connected online, allowing easy access whenever you want. Hot storage wallets are also cheaper than cold storage wallets. However, one downside of a hot wallet is its vulnerability to online theft. You may need to use additional security measures to keep your hot storage wallet safe.
On the other hand, cold storage wallets are physical hardware wallets. Since cold wallets are tangible, their security level is better than digital wallets. You can put a physical storage wallet in a separate deposit box for premium protection.
What Factors Affect My Choice of Crypto Wallet for BOND?
At first, you might get confused with the diverse choices of crypto wallets in the market today. Knowing the common buying factors for crypto wallets will help you make the right decision.
Check out the important factors affecting your choice of BOND wallet:
- Are you a regular trader? If so, then a hot storage wallet is the best choice for you. A hot wallet allows a quick and easy log-in method to your chosen platform. In less than a minute, the integrated hot wallet will let you trade BOND right away.
- Not all wallets support a wide range of cryptocurrencies. The best crypto wallets are those that will let you trade hundreds of cryptocurrencies without limitations.
- When it comes to security, a physical cold storage wallet is better than a hot wallet. You can simply store your cold wallet in a private safe deposit at home or the bank. Just make sure that your private seed phrase is safe and secured.
- Setting up a digital wallet is free. On the other hand, getting a cold storage wallet requires money because you need to buy the physical hardware.
- Do you want to see detailed technical analytics? In that case, you can never go wrong with hot wallets. In most cases, hot wallets generate technical analytics and semi-accurate market insights to help you make a trading decision. Cold wallets also have analytics capabilities that you can tweak freely.
Ledger vs. Trezor – The Best Crypto Wallet for Traders and Investors
Now that you already know how to buy BOND, you must protect your investment by choosing a cold storage wallet. As mentioned above, cold wallets offer better security levels than hot wallets.
When it comes to cold storage wallets, it’s best to start with Ledger or Trezor products.
Ledger is a popular cold wallet brand because of its reliable security features. The Ledger interface, for example, will only let you send cryptos if you’re connected to a personal computer or device.
If Ledger excels in security functions, Trezor wins in terms of intuitiveness and compatibility. Trezor’s interface is beginner-friendly, allowing fast and efficient trades once the device is ready. Trezor products are also compact and appealing to the eyes.
General Market Overview for Barnbridge (BOND)
Do you want to learn more about Barnbridge (BOND) and other crypto coins? Check out our crypto blog and expand your knowledge about cryptocurrencies!
Additionally, here are some important topics in our blog:
- Trading speculation about Barnbridge (BOND)
- The current market prices of cryptos
- Detailed price charts with comprehensive histories
- Whitepaper summaries of cryptos
- Founder profiles and their related works
- Up-to-date cryptocurrency news and developments