How to Buy Kyber Network Crystal Crypto (KNC)

What is Kyber Network Crystal KNC?

According to Coingecko, Kyber Network Crystal is : What Is Kyber Network (KNC)? Kyber Network is a hub of liquidity protocols that aggregates liquidity from various sources to provide secure and instant transactions on any decentralized application (DApp). The main goal of Kyber Network is to enable DeFi DApps, decentralized exchanges (DEXs) and other users easy access to liquidity pools that provide the best rates. All transactions on Kyber are on-chain, which means they can be easily verified using any Ethereum block explorer. Projects can build on top of Kyber to utilize all the services offered by the protocol, such as the instant settlement of tokens, liquidity aggregation, and a customizable business model. Kyber looks to solve the liquidity issue in the decentralized finance (DeFi) industry by allowing developers to build products and services without having to worry about liquidity for different needs. The Kyber Network Crystal (KNC) token is a utility token that is the "glue that connects different stakeholders in Kyber's ecosystem." KNC holders can stake their tokens in the KyberDAO to help govern the platform and vote on important proposals — and earn staking rewards in Ethereum (ETH) that come from trading fees. What Makes Kyber Network Unique? Kyber Network is the first tool that allows anyone to instantly swap tokens without the need of a third-party, like a centralized exchange. The unique architecture of Kyber is designed to be developer-friendly, which enables the protocol to be easily integrated with apps and other blockchain-based protocols. DeFi has many use cases and possibilities. Therefore, no single liquidity protocol can fit the needs of all liquidity providers, takers, and other market participants. Kyber’s liquidity hub architecture allows developers and the Kyber team to rapidly innovate and integrate new protocols into the overall Kyber Network to cater to different liquidity needs. In April 2021, Kyber launched the Kyber DMM, the world’s first dynamic market maker protocol (DMM). Kyber DMM is a next-generation AMM designed to react to market conditions to optimise fees, maximise earnings, and enable extremely high capital efficiency for liquidity providers, especially for stable pairs with low variability in price range (like USDC/USDT, ETH/SETH). They will be able to support pools with extremely high amplification factors, which means given the same liquidity pool and trade size, slippage can be 100x (or more) better than typical AMMs. Depending on their amplification strategy, liquidity providers can maximise the use of their capital and have the opportunity to earn much more fees relative to their contribution size, while takers can enjoy extremely low slippage on their trades. Kyber DMM is the first of many new liquidity protocols that will be launched on the Kyber 3.0 Liquidity Hub. In the Kyber ecosystem, KNC token holders play an important role in deciding new growth and value-capture opportunities and incentive mechanisms. Through KyberDAO, KNC holders can participate in the governance of the network by voting on important proposals. Kyber’s community is sizable and made up of a wide range of developers, in addition to other members of the blossoming DeFi industry. Kyber’s fully on-chain design enables the protocol to maintain full transparency and verifiability. The platform claims to be the most used liquidity hub in the world. How Is the Kyber Network Secured? As an ERC-20 token, Kyber is built on top of and secured by the Ethereum blockchain. In addition, Kyber uses an extensive trust and security model that protects users from misbehaving administrators or exchanges, thanks to security measures built in both at the protocol and smart contract level. The platform has been audited by several third-party security firms and researchers, including Chainsecurity, which have determined that the protocol is secure and hence free of vulnerabilities.

Where can I buy KNC Crypto?

You can buy Kyber Network Crystal on Uniswap.

Why should you buy Kyber Network Crystal?

Kyber Network Crystal is really one of a kind project. The roadmap is incredibly promising and if the dev team can keep up with the with it, it's only a matter of time for the market to catch up. It's a very risky play but one that can yield amazing profits. Do you own diligence and research the project further so you can make your own decision.

How to Buy Kyber Network Crystal Crypto?

Step 1 - Setting up a Metamask Wallet

Metamask is by far the most used walled in the world of Ethereum. Whenever you want to buy and sell cryptocurrencies or even use blockchain apps that run on the Ethereum Network, Metamask will be your best friend. Setting up the wallet is also very simple and easy.

Head over to metamask.io and click Download. You'll need to use Google Chrome, Brave Browser, Firefox, or Microsoft Edge for this to work. So make sure you are using one of these four browsers. Now at the end of the page, click on the browser you're using and install the extension.

You are now the Welcome Page of Metamask. Click on 'Get Started.' Now click on 'Create a Wallet.' Choose a strong password for your Metamask wallet and continue.

Very Important Part! Keeping your backup phrase safe is the difference between having millions in your account or be that guy on the landfill looking for his old hard drive.

Click on reveal your backup phrase and write every word down on paper. Make sure you don't save your backup phrase on anything digital. This is for your security. After you wrote down your backup phrase, you'll be asked to confirm it. Click on every word in the correct order, and you should be done.

Step 2 - Buy Ethereum on Simpleswap

Simpleswap is the easiest way to buy crypto today. Free from registrations, KYC and third-party custody. With Simpleswap we can buy ETH and receive it directly on our on-chain Metamask wallet, skipping most of the steps we'd have to take through a traditional exchange.

Click here to access Simpleswap

Just click the Buy/Sell Crypto tab, insert the USD amount you want to trade for ETH, and click "Exchange", just like this:

Now all you have to do is click the Metamask fox logo to directly copy and paste your Metamask Ethereum address. It should add it automatically.

You can now choose between Google Pay or card to complete the payment:

Once you complete the payment, all you gotta do is wait a few minutes for the payment confirmation, and for the on-chain transaction to complete. Once all that is completed you should see your updated balance in Metamask.

Step 3 - Buy Kyber Network Crystal on Uniswap with ETH

Buy KNC on Uniswap with ETH

Uniswap is currently the number one Decentralized Exchanged in the world, and it's simply the best place to buy cryptocurrencies that aren't available on sites like Coinbase or Binance.

Before we head over to Uniswap, we need to prepare your Metamask Wallet to receive Kyber Network Crystal. Open Metamask, scroll all the way down, and click here:

Select Custom Token and paste this token contract address there:

0xdefa4e8a7bcba345f687a2f1456f5edd9ce97202

The rest should autofill, and you need to click next and then add tokens. Your account is now ready to receive Kyber Network Crystal (KNC).

You can check the price and confirm the correct token address of Kyber Network Crystal on Coingecko.

Let's buy some Kyber Network Crystal!

Go to Uniswap. On the upper right corner, click on Connect Wallet and select Metamask. A confirmation popup should open on Metamask (click on the "little fox logo" if you don't see it). Now you need to accept, connect, and your wallet should be connected to Uniswap.

Select a token and paste the Token contract address: 0xdefa4e8a7bcba345f687a2f1456f5edd9ce97202

Click Import and accept the terms.

Now you have to select the amount of ETH you want to trade for KNC. After you confirm it, another popup will appear from the Metamask extension and you should approve the transaction.

Wait a few minutes, and your KNC should appear on your Metamask Wallet.

Congratulations! You are now a proud Investor of Kyber Network Crystal!

In case your transactions keep on failing, adjust your slippage tolerance. To do that, click on Uniswap's gear icon, and put 5% here:

Adjust slippage on uniswap