Ankr is a distributed computing platform for the development of Web3, otherwise known as the decentralized internet. Ankr utilizes idle computing power in data centers and edge devices to make it easy and affordable for anyone to participate in blockchain ecosystems by building Dapps, hosting nodes, or staking.
The ANKR token can be used to pay for services on the Ankr platform, such as node deployment and API services, participate in on-chain governance, and as insurance for network participants.
Are you interested in how to buy Ankr but don’t know where to start?
Read on for our deep dive into the Ankr Network and the ANKR token, and learn how to purchase ANKR in a few simple steps or check the real-time Ankr Price on CoinStats, one of the best crypto platforms around.
Let’s dive in!
Ankr
Founded in 2017 by CEO Chandler Song, the Ankr platform was created as a distributed computing platform that utilizes blockchain technology to develop Web3, also known as the decentralized internet.
Ankr aims to leverage idle computing power to allow enterprises to use untapped cloud computing power from on-site data centers and devices at an affordable rate while also allowing companies to monetize their spare computing power.
Its main goal is to build a marketplace and infrastructure platform for Web3-stack deployment to enable resource providers and end-users to connect to decentralized applications and blockchain technologies. The Ankr Node Marketplace provides users with the ability to deploy full blockchain nodes and validator nodes in minutes. The Ankr API Marketplace provides one-click deployable API solutions for public blockchains and DeFi protocols.
Ankr’s proprietary cloud infrastructure operates independently of existing cloud infrastructure providers (compared to public cloud providers) and is supported by geographically dispersed enterprise-grade data centers for increased stability and resilience. It simplifies the deployment of blockchain nodes by allowing developers to easily host them and eliminates the need for complex and costly centralization setups.
In 2019, the ANKR project launched the staking protocol Stkr, allowing users to stake Ethereum (ETH) in return for aETH, representing the future gains on the deposited staking balance. This way, participants are rewarded for staking through the Stkr protocol. They can also deploy development nodes, build DApps on the network, and stake on the ANKR Web3 platform.
Ankr Tokens
The native token of the network is ANKR. It has multiple utilities, which involve payments and access to apps deployed on the platform, staking, and voting on governance proposals.
With a limited supply of 10 billion ANKR tokens, new coins should be minted once the total supply is depleted unless changes are suggested and voted on by network participants. ANKR may be a good long-term store of value, as the finite supply serves as an anti-inflation mechanism.
The current circulating supply of Ankr tokens is 8,162,899,377 out of the 10 billion tokens in the total supply.
While its main utility power is powering the Ankr ecosystem, you can also trade ANKR in the crypto market. The ANKR token also serves as a reward for network participants and stakers.
It’s worth noting that ANKR is a token built on the Ethereum blockchain, meaning holders can store ANKR tokens in an Ethereum wallet, of which there are several.
Ankr Price
Due to market volatility, the Ankr price is subject to changes and is influenced by traditional factors like market sentiment, the broader economy, and project developments. The Ankr price is also influenced by the amount of ANKR being staked and the overall progress of the Ankr ecosystem.
The 24-hour trading volume of Ankr is $46,440,196. It has a market cap of $500,230,894 and is currently ranked #110 of all cryptocurrencies by total market cap.
Why You Should Buy Ankr
If you’re a cryptocurrency investor with long-term plans for your assets, investing in Ankr may be a path to take.
Ankr offers investors a great deal. Cloud-computing providers can offer underutilized resources to users requiring cloud infrastructure on this blockchain network. The providers are compensated in ANKR tokens, and users receive several other benefits from purchasing ANKR on the Ankr network.
Here are some reasons why you should make an Ankr purchase today are:
- Ankr is changing the crypto game
The cloud-computing world is relatively well defined, and only a handful of large players dominate the market. Pricing power dwells mainly with cloud-computing providers in such an oligopolistic structure.
Ankr seeks to change this structure. The network takes current underutilized hardware from cloud-computing providers and rents it out. In exchange for ANKR tokens, cloud-computing companies maximize the use of their computing power.
The Ankr blockchain network is eco-friendly in that it has found a way to create utility for end-users by using what exists rather than contributing to the sector’s energy consumption.
- Ankr provides decentralized services
Decentralization is buzzing in the crypto world for a reason. Blockchain projects like Ankr aim to democratize the economy by cutting into the centralized market power of a few companies controlling any one sector.
Ankr offers network stability and relatively low-cost cloud-computing services to companies looking for decentralized options by using a decentralized network of providers.
Increased adoption could increase the value of Ankr as the demand for decentralized solutions increases. Therefore, those banking on the value of ANKR tokens as representative of the value its ecosystem creates may consider ANKR an intriguing growth option.
- Ankr is bringing staking to a new level
Besides cloud computing, Ankr also provides a unique value in how investors stake tokens. Staking is the process of locking one’s tokens into a given blockchain protocol to allow validation of crypto transactions. Stakers receive interest in additional tokens; this is a passive income opportunity most crypto investors are interested in.
Ankr’s StakeFi product provides a fascinating way for investors to stake their tokens while putting up smaller capital investments. The platform does this by utilizing synthetic derivatives to limit the initial capital investors need to put up.
Similar to options in the stock market, Ankr is fast becoming a revolutionary force in this expanding area of decentralized finance. So, you should consider buying Ankr if you want to diversify your long-term cryptocurrency investment strategy.
How to Buy Ankr
Follow our step-by-step guide to start buying Ankr (ANKR) right away!
Step #1: Find the Best Exchange for Ankr
Several cryptocurrency exchanges support Ankr, making buying, selling, and trading Ankr at its current price on these crypto exchanges easy. So your first step is to find a cryptocurrency platform offering some of the lowest transaction fees in the industry to trade, buy, and sell ANKR. You should also compare the security, reputation, deposit methods, supported fiat currencies of the platforms to choose the one that best suits your needs.
Here are some suggestions:
Binance
The benefit of purchasing ANKR on this platform is the lowest fees compared to competing platforms. Binance’s increased liquidity enables you to quickly buy and sell Ankr to take advantage of moving market news.
Although US users are prohibited from purchasing Ankr on this platform, it’s best suited to Canada, Australia, the UK, Singapore, and international users.
Gate.io
Gate.io has grown into a major trading platform. Although it’s not the most popular cryptocurrency platform, it provides beginners with a straightforward interface while maintaining advanced charts for various skill levels- including advanced traders.
Often the first to add new tokens, Gate.io boasts many altcoins, including ANKR.
US residents, excluding New York and Washington state, can buy Ankr on this exchange.
Coinbase/Coinbase Pro
Available on Android, desktop, and IOS, Coinbase/Coinbase Pro offers trading opportunities in over 140 cryptocurrencies, including ANKR. Coinbase has a simple-to-use platform that attracts first-time crypto investors.
The exchange allows trading to all USA residents, excluding Hawaii.
Cryptocurrency platforms differ by fees, payment methods, security offered, etc. You’ll need to research the best crypto platform that supports Ankr and best fits your needs.
As a beginner, you don’t need a wide range of features, and there is always the option to switch exchanges later.
Step #2: Create Your Account
After choosing a reliable exchange, the next step is creating your account on the platform. The requirements differ depending on the platform and your choice of crypto.
For example, creating an account with Binance will require personal information such as your full name, email address, home address, and a copy of your passport or government-issued ID. You need to provide this information to get verified and start trading. The exchange will send a verification email after you create your account, and once you confirm your email, you can trade on the platform.
Step #3: Deposit Funds into Your Account
After verifying your account, you need to fund your account to buy ANKR and other cryptocurrencies. You can choose a payment method, i.e., bank or wire transfer, credit or debit card, or deposit crypto from a crypto wallet to buy Ankr. The payment method you choose to buy ANKR will depend on the platform, your location, and preference.
Credit or Debit Card
A credit card allows borrowing money from the bank and paying later, while a debit card grants access to your bank funds.
Step #4: Purchase Ankr
After creating an account on your preferred cryptocurrency exchange and funding your account, you can now buy ANKR.
On an exchange like Binance, there are two ways of buying ANKR- placing a limit order or a market buy. A limit order lets you fix the price you want to purchase ANKR for, while a market buy automatically fills your order at the best price available.
It may be better to use the percentage buttons below the input box – for example, selecting to exchange %50 of your Bitcoin for ANKR. Once you’re happy with the amount, press the green button marked “buy ANKR” to complete your order. How much ANKR you buy depends on your investment strategy and personal finances.
You can also buy Ankr through CoinStats by clicking the “buy” button, redirecting you to supported exchanges for your purchase.
Storing Your Ankr
Storing your ANKR tokens in a crypto wallet for extra security is wise.
Several software wallets are available for free download from the App Store or Google Play. Consider the advantages of the CoinStats Wallet, which lets you buy or track your crypto from a single place.
Although software wallets offer substantial protection, they’re still vulnerable because they offer online storage.
A hardware wallet is a safer alternative. It’s a secure form of storing your private keys offline, thereby reducing the chances of a hack. Remember that recovering your funds might be impossible if you lose your private key.
Final Thoughts
Cryptocurrencies, including ANKR, are complex, speculative, and involve significant risks. They are highly volatile and subject to market sentiments.
The past performance of ANKR is no assurance of its future performance.
Obtain your own advice, and consider your own circumstances before relying on the information in this article.
Verify the nature of any service or product (including its relevant regulatory requirements and legal status) and review the relevant regulators’ websites before making any investment decisions.
You can also check our blog for additional informative articles about wallets, crypto exchanges, and tokens, including How to buy Gala and several other cryptocurrencies.
