A decentralized application (DApp) is similar to any other digital app available on a smartphone or computer, but it employs blockchain technology to protect users’ data. Many DApps, however, require a supply of real-world data to function, and blockchains are not designed to access such datasets on their own. Oracle is an intermediary, bringing data sources into the blockchain-powered DApp. They connect the blockchain to the real world and serve as on-chain APIs to obtain Smart Contracts’ information. With the rise of decentralized finance (DeFi), a greater emphasis has been placed on the function of oracles, and Band Protocol has emerged as one of the market’s rising platforms.
As a result, it is difficult to overstate the importance of transferring off-chain data into the blockchain unless it has significant value and is gaining acceptance. The Band Protocol is essential to blockchain technology for sending real-world data to smart contracts. The Band Protocol may connect to multiple blockchains, potentially broadening its application as DApps develop outside the Ethereum network. Furthermore, Band Protocol is stepping up its DeFi efforts by preparing a blockchain for Web 3.0. This protocol addresses the problem of Smart Contract Apps being unable to access real-world data. Instead, it plans to implement consistent transaction speed, scalability, cross-chain interoperability, and data flexibility.
The Band protocol was first launched on the Ethereum blockchain in 2019 and later developed on its blockchain to transmit data between multiple blockchains using the Cosmos SDK. If you want to learn more about how this project works, please keep reading. We will discuss its ecosystem, development, tokenomics, use cases, benefits, price predictions, and whether you should invest in 2024.
How to Buy Band Protocol– Quick Guide
Check out a quick guide to buying the Band Protocol in just a few simple steps:
- Choose an exchange that offers Band Protocol – we recommend eToro, which is ASIC, CySEC, and FCA regulated.
- Sign up with eToro and verify your account with your government ID or driving license.
- Deposit into your account via bank transfer, PayPal, credit card, or other payment methods
- Search ‘BAND’ in the drop-down menu to see the Band Protocol price chart
- Click ‘Trade’ and select a quantity of BAND coin you would like to buy
Compare Cryptocurrency Exchanges to Buy Band Protocol
Binance
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Libertex
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Where to Buy Band Protocol – Best Crypto Platforms
Band Protocol is a decentralized platform that enables the creation of applications for the next generation of social networks, media-sharing platforms, and e-commerce sites. The section below will share the top crypto platform to buy Band Protocol in 2024. The most popular platform for purchasing BAND cryptocurrency is eToro, which is secure, affordable, and straightforward.
1. eToro: Overall Best Platform to Buy BAND Coin in 2022
eToro ranks first on our best platforms for buying BAND coins. eToro is a leading crypto platform because of its simple copy-trading platform, which allows traders to replicate the trades of experienced investors – or receive exclusive benefits for sharing their trading strategies. eToro provides a comprehensive trading experience with over 3,000 tradeable symbols, including CFDs, forex, and exchange-traded securities.
eToro was established in 2007 and is regulated in two tier-1 and one tier-2 jurisdiction, making it a safe (low-risk) broker for trading forex and CFDs. In other countries, eToro provides a comprehensive online brokerage platform. It is new to the US market and only provides cryptocurrency trading there. The eToro platform offers 27 cryptocurrencies, a transparent fee structure, and a thriving user community. As a multi-asset broker, eToro goes as far as to ensure that traders have a positive experience. eToro, for example, allows you to choose between trading CFDs and the underlying assets straight from the trade-ticket window. A subtle but handy feature.
Cryptocurrency trading is available at eToro via CFDs and trading the underlying security (e.g., buying Bitcoin). Retail traders in the United Kingdom cannot access cryptocurrency CFDs through any broker. Neither entity nor UK residents or even the Netherlands. Furthermore, eToro does not offer cryptocurrency trading in Russia, the Netherlands, or France (including French Territories).
Lastly, you can earn rewards in your wallet for buying and selling Ethereum, Cardano, and Tron.
Learn more about cryptocurrency staking.
Trade BAND On eToro
Depositing funds in the eToro trading account is free, whereas eToro accepts payment via Wire transfer, credit card, debit card, PayPal, Skrill, Sofort, and Netteller. The minimum deposit amount varies depending on the user’s location. Before trading, individual investors in the United Kingdom and the rest of Europe must make a minimum deposit of $200. Users in the United States must also deposit $10.
Update – As of 2024, the only cryptocurrencies eToro users in the United States will be able to trade on the platform will be Bitcoin, Bitcoin Cash and Ethereum.
2. Binance: Trade BAND with Leading Crypto Exchange
Binance gives users all over the world access to hundreds of cryptocurrencies. The global Binance platform, on the other hand, differs from its US counterpart, Binance.us, which only supports over 65 cryptocurrencies. Binance also provides cryptocurrency-to-crypto, cryptocurrency-to-fiat, and fiat-to-crypto currency trading in addition to cryptocurrency trading. They also offer margin trading, futures trading, and ICO listing.
Binance does not provide no-fee trading. However, its fees are lower than even the best cryptocurrency exchanges, which charge fees and commissions. The highest spot trading commission is 0.1 percent. Since some crypto platforms charge over 5% to deposit money and then buy crypto, the low fees are one of the reasons traders use Binance for a large portion of their crypto investments. The fee ranges from 0.015 to 0.10 percent, with debit card purchases costing 3.5 percent or $10, whichever is higher, and US wire transfers costing $15.
Trade BAND On Binance
Binance makes use of two-factor authentication (2FA) and FDIC-insured USD deposits. The leading crypto exchange also protects its US clients with device control, address whitelisting, and cold storage.
3. Crypto.com: Leveraged Trading on BAND
Crypto.com has a massive selection of digital assets and charges reasonable fees. Even though it does not support traditional crypto-to-crypto trading, advanced traders may be keen on its DeFi offerings. Crypto.com is a cryptocurrency platform that, among other things, allows for trading, investing, staking, wallets, and non-fungible tokens. This platform offers over 250 crypto assets, reasonable fees, and discounts for Crypto.com Coin (CRO) holders with extensive holdings.
Moreover, its ecosystem of crypto-related products may make it an excellent choice for those who want to do a lot with their cryptocurrency. Crypto.com is one of the most popular cryptocurrency wallets, with over 9 million global users, allowing you to buy and sell more than 250 cryptocurrencies with low trading fees. Crypto.com processes over $2 billion in transactions per day.
Furthermore, the company provides:
- Credit cards, as well as crypto-to-crypto and fiat-to-crypto services
- Wire transfers
- Cash deposits at any ATM worldwide
Crypto Capital Corp., a subsidiary of Crypto, also offers Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple trading services (XRP). The company’s headquarters are in Hong Kong, with offices in the United States, Japan, Singapore, and South Korea. Samuel Leach and Matt Mickiewicz founded Crypto in Zug, Switzerland, on February 22, 2014.
Trade BAND on Crypto.com
Deposits require a minimum account balance of $1. Fees for makers and takers range from 0.04 to 0.40 percent. Credit and debit card purchases are free for the first thirty days after opening an account. Users can also earn up to $2,000 per referral. The ability to stake cryptocurrencies is the platform’s main selling point. Customers who stake or store cryptocurrency in a crypto.com wallet can earn an annual interest rate of up to 14.5 percent.
The exchange offers staking incentives, Visa card benefits, NFT trading, and DeFi products. Crypto.com offers 180 cryptocurrencies to US customers, the most of any exchange we reviewed. However, unlike some competing exchanges, you must purchase cryptocurrency on Crypto.com using fiat currency such as US dollars.
4. Coinbase: One of the Best Crypto Platforms to Trade Crypto
Coinbase is a credible cryptocurrency exchange that allows you to buy, sell, and exchange cryptocurrencies. Coinbase makes buying Bitcoin as simple as buying stocks through an online brokerage. It was founded in 2012 as a platform for sending and receiving Bitcoin, but it has since expanded to support dozens of different cryptocurrencies and now employs over 4,900 people worldwide. Coinbase is a decentralized organization with no central office.
Coinbase Global, Inc., also known as Coinbase, is an American cryptocurrency exchange platform. It is a decentralized organization with no physical headquarters; all employees work remotely, and it is the largest cryptocurrency exchange in the United States by trading volume. The company provides various high-value products to individual and institutional investors, corporations, and developers. Still, its distinguishing feature is the ability to buy, sell, and trade over 100 different cryptocurrencies and crypto tokens.
In April 2021, the company went public through a direct listing on the Nasdaq exchange. The current quarterly trading volume on the platform is $327 billion, and its current assets are $255 billion.
BAND Price Chart – Coinbase
Most cryptocurrencies, including Bitcoin, Ethereum, LUNA, Uniswap, and Cardano, and meme currencies such as Dogecoin and Shiba Inu, are supported for trading on Coinbase. When using a debit or credit card, Coinbase charges a 3.99% fee; this fee is reduced to 1.499% when ACH transfers are used, and Coinbase Pro enables free bank transfer deposits.
Coinbase Pro’s trading fees are significantly lower and more superficial, following a standard maker/taker model. When you make a trade, and it is filled immediately, the taker fee is applied, lowering the total liquidity available on the exchange. The maker fee is charged for orders not filled immediately, resulting in liquidity and possibly a lower fee.
What is Band Protocol (BAND)?
The Band Protocol is an Oracle platform that provides real-world data to on-chain applications. It also connects APIs to smart contracts to improve data sharing between on-chain and off-chain datasets. The network is more efficient and speedier than rival Oracle alternatives. The protocol also works with several blockchains and innovative contract development tools to reliably send data to and from many blockchains.
The Band Protocol intends to use Cosmos’ under-development Inter Blockchain Communication (IBC) protocol to accomplish cross-chain data transfer. However, it is uncertain how long it will take for the IBC to be operational and available for usage.
Band Protocol started as an ERC-20 project on the Ethereum blockchain in 2019 but later moved to the Cosmos network with the release of Band Protocol 2.0 in June 2020. The new protocol is based on BandChain and created with the Cosmos SDK. BandChain nodes transmit data and participate in block generation and validation, giving them a dual function.
- Band Protocol Ecosystem: The Band protocol has several partnerships and validators in its ecosystem. The following are some of the most important collaborations and validators.
- Clover: CLV, formerly Clover Finance, has collaborated with Band Protocol to deliver secure and reliable data flows to its cross-chain and decentralized applications technology platform. CLV solutions offer connectivity in the growing crypto sector by focusing on connectivity and cross-chain.
- Cronos: The Oracle solution for the Band protocol is now active on Cronos, the blockchain network supported by Crypto.com. This partnership aims to improve the Cronos ecosystem, which is already growing quickly, and give developers access to reliable outside data sources in a decentralized way.
- Oasis: Band Protocol’s scalable and decentralized oracle system has become operational and wholly integrated into the Oasis Network Mainnet. This collaboration promotes quick growth in the ecosystem and increases Band Protocol adoption.
- Cello: Cello now has access to Band Protocol’s permissionless and time-tested data oracle solution. Celo is a blockchain that was designed with mobile devices in mind. It lets anyone with a smartphone use decentralized financial (DeFi) tools and services.
Band Protocol’s Oracle is used to give Celo a data solution that is not only flexible from end to end but also cheap and completely decentralized.
- WeStaking: WeStaking, a widely regarded validator that provides safe staking infrastructure for top blockchain networks, including Cosmos, Terra, Kava, E-Money, and others, has teamed up with Band Protocol. WeStaking is a well-established validator recognized by over 680 unique delegates.
- HashQuark: Band Protocol collaborates with HashQuark, Asia’s leading staking service provider. HashQuark offers blockchain services through several wallets and cloud implementations in public and private clouds. In addition, they have a specialized automatic profit settlement and support service to ensure that all stakeholder profits are maximized.
The Fundamentals of Band Protocol
When did it originate? – 2017
Management Team: Band Protocol’s current CEO is Soravis Srinawakoon. Paul Chonpimai is the CPO, and Sorawit Suriyakarn, a gold medalist programmer, is the current CTO.
Native token: BAND
What it does: The Band Protocol is faster than rival Oracle solutions and is compatible with other blockchain and smart contract development frameworks. The Band Protocol delivers permissionless oracle formation, allowing users to initiate the processing of data requests. It also makes it easy to connect Smart Contracts and gives developers the tools to start using Band Protocol Oracle data.
How does it work?
The Band Protocol provides a bridge between traditional Internet data sources and blockchains. The program handles data requests from decentralized apps and transmits information from the rest of the internet via data feeds. It does this using its blockchain, which helps all its activities to be publicly verified and approved.
BAND Use Case: The BAND token is used as security by validators in data request fulfillment. It is also the main currency on BandChain and is used to pay for private information.
Is It Worth Buying Band Protocol (BAND) in 2024?
In early 2022, the blockchain oracle platform called Band Protocol garnered considerable attention from investors within the cryptocurrency landscape. However, when LUNA experienced a subsequent crash, it had a ripple effect on the market and caused a decline in the value of Band Protocol. Despite this setback, the project’s robust utility and underlying potential managed to retain investor interest and stabilize BAND’s value above $1.
In 2023, the journey of Band Protocol through the unpredictable world of cryptocurrencies continued. At the beginning of the year, it started at $1.41 and showed a promising increase in value when Bitcoin also made an impressive recovery. Despite Bitcoin facing a minor setback around the $24,000 mark, Band Protocol showcased resilience by maintaining its value above $1.60.
According to the most recent market analysis, the present price of Band Protocol is around $1.19, indicating a 0.95% increase in the last 24 hours. With a trading volume of $12.05 million over the past day, the project has contributed to a market capitalization of $152.94 million. Despite changes in the crypto market, Band Protocol maintains a market dominance of 0.01%.
The project achieved its highest trading price of $22.87 on April 15, 2021, marking a significant milestone. On the other hand, its lowest recorded value occurred on November 25, 2019, reaching only $0.204472. It is worth noting that despite facing challenges, the price has exhibited resilience. After hitting a low point of $0.923992 since reaching its all-time high (ATH), it rebounded and reached a subsequent peak of $1.490190.
As per market sentiment analysis, there is currently a bearish trend in Band Protocol’s price prediction sentiment. At the same time, the Fear & Greed Index stands at a neutral 50, indicating a balanced market sentiment among investors.
Regarding the supply dynamics, the circulating supply of Band Protocol currently stands at 128.05 million BAND tokens out of a total maximum supply of 100 million BAND. Over the past year, the project has experienced a yearly supply inflation rate of 263.87%, resulting in the creation of 92.86 million BAND tokens.
Band Protocol holds an impressive ranking of #29 within the DeFi Coins sector, highlighting its significant role and contribution to the decentralized finance ecosystem. Additionally, it secures a commendable position of #67 within the Ethereum (ERC20) Tokens sector.
The upcoming year holds great promise in the crypto landscape. With this dynamic sector’s continuous growth, investors and enthusiasts eagerly follow Band Protocol’s journey, anticipating further developments.
Will the Price of Band Protocol (BAND) Go Up in 2024?
Amidst a challenging market downturn, Band Protocol has shown remarkable resilience and unwavering commitment to innovation in the API space. As a respected member of the Open API Initiative, Band Protocol is on a revolutionary journey to transform APIs, enhancing its native token, BAND, with unparalleled utility that distinguishes it from other assets in the market.
Band Protocol’s expansion through 2022 has been driven by a surge of innovative solutions. Collaborative ventures with renowned projects like Clover, Cronos, and Active Nodes have not only expanded Band Protocol’s reach but also contributed to an upward trajectory in the price of BAND. However, the overall downturn in the market eventually resulted in a valuation slightly above $1 for this resilient token.
In the year 2023, BAND experienced a period of growth and vitality. This was evident in the continuous rise of green candles on price charts, reflecting optimistic price movements. While Bitcoin played a role in this resurgence, the solid inherent qualities of Band Protocol were instrumental in driving its impressive ascent.
Band Protocol’s unwavering dedication to progress is evident through its groundbreaking developments, as highlighted in the latest roadmap. These strategic endeavors hold great potential to inject fresh momentum into the price of BAND, fostering excitement and anticipation within the cryptocurrency community.
In a recent collaboration, Band Protocol has partnered with Horizen, a well-known public blockchain platform recognized for its scalable ecosystem that supports decentralized applications (dApps). This joint effort highlights Band Protocol’s dedication to cross-chain data oracles.
The partnership’s main goal is to expand the reach of decentralized oracle services to EON, a newly launched EVM-compatible intelligent contracting platform by Horizen. This integration aims to provide real-time pricing information and reliable data access for various sectors, including decentralized finance (DeFi), gaming, and non-fungible tokens (NFTs) within the vast EON ecosystem.
Band Protocol has taken a proactive approach by introducing SubDAOs, an innovative concept led by Shine Sutheeravet, the head of operations at Band Protocol. This pioneering strategy addresses the complex challenges commonly faced by decentralized autonomous organizations (DAOs).
SubDAOs present a versatile solution that addresses complexity management, optimal resource allocation, specialized expertise, adaptability, inclusivity, and scalability. An innovative proposition suggests transforming the Cosmos Group module into councils to establish robust governance frameworks that facilitate effective decision-making.
Band Protocol continues to position itself as a pioneer within the blockchain realm with the unveiling of the Pricefeed Module. Designed as a transformative solution for Cosmos developers seeking seamless access to accurate and reliable price data from BandChain, this integration extends the capabilities of both Band Protocol and the broader Cosmos SDK-based blockchain ecosystem. This strategic enhancement amplifies the appeal of BandChain but also empowers developers to harness real-time data through the innovative Pricefeed Module.
Analyzing the indicators, the future trajectory of BAND’s price appears promising. The short-term 50-Day Simple Moving Average (SMA) is poised to reach an estimated value of $1.193616. The Relative Strength Index (RSI), a widely recognized momentum oscillator, currently stands at 48.65. This value reflects the neutral stance of the BAND market, signifying a balanced equilibrium between oversold and overbought conditions.
Band Protocol (BAND) Price Prediction: Where does BAND go from here?
The recent increase in the BAND price has restored the community’s faith in the token, but its price is still a long way from its all-time high. e. While this level seems unattainable this year, read below to learn what the long-term prediction about this token says.
Band Protocol Price Prediction 2023
Experts say that since the current increase is because of Bitcoin gaining more support, Bitcoin’s stability above the $22k mark will decide whether this asset climbs higher. A conservative estimate says the BAND price may climb above $2 by the end of 2023. Bullish investors say that the $3 level will be crossed by the end of the year. New product rollouts like the Bandchain Cosmos chain integrations and EVM compatible chains integration program may put the BAND price closer to its bullish estimate ($3).
Band Protocol Price Prediction 2024
We will likely see BAND protocol leverage its Open AI membership to bring more innovations, leading to more integrations and collaboration. That will make BAND’s price follow the other assets that it supports. That factor alone will help push the value of this asset. Based on the developments that are bound to happen within this ecosystem, it is likely that the BAND price will reach $4 by the end of 2025
Band Protocol Price Prediction 2025
2025 will see the talk of crypto growing common in tech circles. With its unique OpenAPI-centric approach, Band Protocol can become part of significant Web 3 projects. We estimate it will help pump the BAND price beyond $5 by the end of 2025.
Band Protocol Price Prediction 2026 And Beyond
Band Protocol will become a staple part of the crypto space by 2026, leading to the BAND price increase linearly and sparingly. We estimate that Band Protocol’s native token will be worth $7 by the end of 2026.
Will it ever cross its all-time high? It may, but the current market fundamentals and technical indicators don’t put BAND’s value reaching its all-time high till 2030. However, considering the volatile nature of the crypto market, this estimation is more likely speculation – which means our predictions can be overturned if the market enters another bull or bear cycle.
Summary
Price projections for the Band Protocol, with only minor differences in value, roughly reflect long-term growth expectations. Some price forecasts are bullish, while others are bearish. Due to tremendous investor interest and the incorporation of popular platforms into the Band Protocol ecosystem, BAND has seen significant growth. Band Protocol could be an excellent long-term investment if you are an investor looking for a token to add to your portfolio. However, before you trust any cryptocurrency futures market, you must first study and comprehend fundamental analysis.
Band Protocol connects DApps to blockchains to provide a solution. The Protocol platform encourages users to share real-world data with decentralized blockchain applications (DApps). For example, if an app developer wants to inform customers about the exchange rate volatility, it must estimate the cost later. Band Protocol offers and evaluates external data using technology that incentivizes a specific class of users known as validators to ensure its Smart Contracts function correctly.
To trade BAND, our recommended regulated broker is eToro. The platform is licensed and regulated by the FCA and has one of the best reputations in the industry. Furthermore, eToro offers a wealth of educational resources to assist newcomers to the market learn the ropes.
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FAQ
Any risk in buying BAND now?
The Band Protocol value is expected to increase because scarcity drives up prices. Please remember that every investment has some level of risk. So before coming to conclusions, please only invest according to your risk tolerance and conduct as much research as possible.
Is it safe to buy BAND?
For each transaction, Band Protocol selects validators randomly. For example, scripts that convey information are only executed after passing a run-time security check. DApps that access Band Protocol data can also set their security constraints. Furthermore, both Voyager and Coinbase support Band Protocol, and both exchanges are trusted US-based platforms you can trust.
How much will BAND be worth in 2030?
BAND has tremendous potential to rise rapidly to new levels in terms of pricing. However, it is expected that its value will rise. According to our specialists and analysts, it might reach a high of $10.97 by the end of 2030.
Will BAND ever hit $5?
According to technical analysis and BAND price prediction, the token has the potential for an uptrend; therefore, it might reach $5 in 2025.
