Cyber Network It is a decentralized exchange for trading Ethereum tokens. Unlike centralized exchanges, this exchange doesn’t need a third party and does your transaction directly. The token of this exchange is provided with the abbreviation KNC to provide liquidity for this platform, and in this article we want to discuss how to buy and sell Cyber Network digital currency in centralized and decentralized exchanges.
Introduction of KNC digital currency
Cyber Network was first launched in 2017 by Loi Luu, Victor Tran and Yaren Velner. The Kyber Network is a protocol for exchanging Ethereum tokens with the standard ERC-20 Is. Cyber Network digital currency is also the native token of this network which is used in it. Developers of other digital currency projects use KNC to provide liquidity. In this case, other projects will also get more liquidity, and on the other hand, the exchange of Ethereum tokens will be done at a higher speed and an easier process.
The full name of the native token of the Kyber network, Kyber Network Crystals is that with the symbol KNC is shown. All those using the Kyber network are required to pay network fees in the native KNC token. In addition, KNC holders can invest in it and earn profit by trading it, and for every amount of this token they get voting rights in the network. You can buy and sell Cyber Network digital currency from centralized and decentralized exchanges, and you can use Cyber Network wallets to store it.
To learn more about this project and its native token, you can read the article What is Cyber Network? read the
Introduction of centralized exchanges to buy cyber network
Centralized exchanges are popular among cryptocurrency traders. Usually, many traders use spot, margin and futures trading Centralized exchanges use. There is no special or difficult function to start working with these exchanges. Just enough in them Register done, authenticate yourself and finally, after charging your user account in the exchange, start trading Cyber Network digital currency.
Of course, you should consider that the centralized exchange you choose supports the Kyber Network token. In the following, we introduce some reliable and good centralized exchanges that support this currency. To top up your user account, you need to transfer some fiat currency or any other digital currency you have to the exchange account. Maybe at the very beginning, you fiat currency Or don’t have a stablecoin like USDT. In this situation, you can get help from centralized Iranian exchanges like Valex to convert your Toman into a stable coin.
It should be noted that foreign centralized exchanges usually do not support Iranian users. That is, due to existing sanctions, Iranian users cannot authenticate and it is possible that after some time your account will be blocked and all your assets will be lost. Some examples of centralized exchanges for buying and selling Cyber Network digital currency are:
- Binance exchange
- Coinbase exchange
- Kucoin exchange
- BitStamp exchange
- Kraken exchange
- Valex exchange
Cyber network currency trading in decentralized exchanges
Decentralized exchanges They work completely differently from centralized exchanges. As much as centralized exchanges are suitable for professionals and beginners, decentralized exchanges are usually used by professionals and familiar with the environment. Because the lack of familiarity with the environment of decentralized exchanges and the inability to analyze the digital currency market may cause loss and destruction of your assets.
There is no need for intermediaries to use decentralized exchanges. You directly own your assets and can trade them whenever you want. Transactions in decentralized exchanges in the form of peer to peer and they have lower transaction fees than centralized exchanges. On the other hand, the positive thing that there is in decentralized exchanges for the way of buying and selling Cyber Network digital currency is that there is no need for authentication in them.
Some examples of decentralized exchanges for buying and selling Cyber Network digital currency are:
- Pancake swap (PanCakeSwap)
- Kyber Swap Classic
- DFX Finance
- QuickSwap
- Sushi Swap
How to buy and sell Cyber Network digital currency in the best exchanges
After getting to know the centralized and decentralized exchanges that support KNC digital currency, you should get to know how to buy and sell this currency in them. In the following, we are going to discuss how to trade in two examples of the best international exchanges. But before starting the training, you should know that due to existing sanctions, when using these exchanges, your Iranian identity should not be revealed. It means using a filter or Change software IP It helps you to change your location from Iran and create your user account with another identity.
Kucoin exchange
Important point about Coin exchange, the absence of problems with Iranian users and the support of Cyber Network digital currency. So it can be a good choice for all Iranian users to easily do their digital currency transactions without authentication. On the other hand, the security of Kocoin exchange is extremely high and the transactions with 2.0% fee he is doing it. To start buying and selling Cyber Network digital currency in this exchange, you must first Account Open yourself to it. Now, in the same way as we mentioned above, top up your user account with some fiat currency or stablecoin.
Go to the main page of Kocoin exchange, see the price of your desired currency, which is Cyber Network, and analyze its charts for the future of Cyber Network. Now you can make your transaction and decide to buy Cyber Network. Keep in mind that in Kocoin exchange, you can do margin, spot and trade robot trading.
Valex exchange
Valex 1 exchange Centralized exchange Iranian with high security and relatively low transaction fees. This exchange supports many digital currencies including Cyber Network and allows you to trade them. One of the positive features of Valex exchange is proper authentication for Iranian users Direct support from Toman Is. That is, you can directly transfer your Toman assets to the exchange account and buy some cyber network digital currency with it. So there is no need to convert Tomans to other fiat currencies.
Learning to buy and sell Kyber Network digital currency in Valex exchange
As we mentioned above, Valex exchange is a good option for Iranian users. With this account, learning how to trade in it is definitely a need for many Iranian traders. In the following, we will teach you how to create your account and make your transactions in a few simple and short steps.
Creating a user account in Valex exchange
In order to start trading in the Valex exchange, you need an account, which you must create according to the following steps.
- Enter the main page of Valex exchange site.
- From the right side of the page, on the “Register” click.
- On the page that opens, enter the required information, i.e. your mobile number and desired password, and click on the option “Register” click.
- After a few minutes, one 6 digit code An SMS will be sent to your mobile phone and you must enter the code in the desired box.
Recharge user account at Valex exchange
Like all exchanges, you need to top up your user account to use Valex exchange. Do this carefully according to the steps below.
- an optionwallet» is on the left side of the box, click on it.
- From the options available on the new page, “deposit” Choose.
- Now enter the required information, i.e. the card number and the deposit amount to the user account, so that it is transferred to the payment portal of the exchange.
- On the page related to the payment gateway, you must enter the detailed information of your bank card to complete the transaction of charging the user account.
How to buy and sell Cyber Network digital currency in Valex exchange
Now that you have charged your user account, you can easily make the desired transactions in the exchange. There are two ways to carry out a transaction at Valex exchange.Instant buying and selling” And “Advanced buying and selling” There is. Instant buying and selling related to digital currency trading is done at the current market price. But advanced buying and selling is a little different and usually people who are good at the market use it; Because your transaction in this method is done at a different price and at a specific time. Of course, each of the trading methods in the Valex exchange has its advantages; But you should know that advanced trading requires experience and knowledge.
The future of cybernetic digital currency
KNC, like other altcoins, is looking for improvements in its network, which will lead to an increase in the price of its native token. This token is currently trading at $0.65. According to experts’ analysis, Cyber Network digital currency can be suitable for long-term investment and we may see good profits from it in the coming years. In which exchange do you prefer to trade? Write us your reason.
The article on how to buy and sell Cyber Network (KNC) digital currency was written for the first time on Wallex blog. appeared.
