How to Buy Ankr (ANKR)
Beginner’s Guide
What Is Ankr (ANKR)?
Ankr (ANKR) is a blockchain-based distributed computing platform that allows developers to build and deploy decentralized applications (dApps) in a cost-effective, scalable, and decentralized manner. The platform leverages idle computing resources from data centers worldwide to provide cloud infrastructure, making it an affordable alternative to traditional cloud providers.
Ankr aims to solve several issues that exist in the current cloud computing industry, such as high costs, limited scalability, and centralized control. By utilizing blockchain technology and a decentralized infrastructure, Ankr enables developers to build and deploy dApps that are more cost-effective, scalable, and resistant to censorship and hacking attacks.
In addition to providing cloud infrastructure, Ankr has also introduced several other products and services, including a staking platform that allows users to earn ANKR tokens by staking their cryptocurrency, and a cross-chain bridging solution that enables the transfer of assets between different blockchain networks.
The ANKR token is the native cryptocurrency of the Ankr network, and it is used to incentivize nodes to contribute their computing resources to the network, as well as to pay for various services and transactions on the platform. Overall, Ankr is a unique and innovative platform that aims to make decentralized computing more accessible and cost-effective for developers and businesses of all sizes.
Ankr is a decentralized blockchain infrastructure provider that operates an array of nodes globally distributed across over 50 Proof-of-Stake networks. This infrastructure helps drive the growth of the crypto economy while powering a full suite of multi-chain tools for Web3 users:
Ankr Build Ankr provides comprehensive blockchain developer solutions, including traditional APIs, a decentralized multi-chain network of public RPC nodes used to access blockchain data and execute code, and tools like Ankr Scan to view on-chain information across blockchains.
Ankr Earn Ankr Earn makes staking, liquid staking, and other yield-earning opportunities easy and accessible to any crypto investor. Ankr creates the most scalable and decentralized staking infrastructure solution that aims to solve the capital inefficiency of Proof-of-Stake networks and similar blockchain consensus mechanisms.
Ankr Learn Through Ankr’s learning tools, tutorials, and docs, anyone can become a better user or developer of blockchain-based systems.
How to Buy Ankr Summary
- Get a Ankr wallet (e.g. Ledger, Trezor , Exodus, Guarda, AtomicWallet)
- Find an exchange that sells Ankr (e.g. Crypto.com, Binance , Coinbase , Bybit, Kucoin)
- Deposit money and make the trade
- Withdraw the Ankr to your wallet
Buying Ankr in 3 Simple Steps
Step 1 – Get a ANKR wallet
Ankr Hardware Wallets
Ankr is a blockchain-based distributed computing platform that primarily focuses on providing cloud infrastructure for building and deploying decentralized applications. However, Ankr has not produced any hardware wallets as far as I am aware.
Hardware wallets are physical devices that are used for storing cryptocurrency in a secure offline environment. These devices are designed to protect against hacking and other online threats. They are manufactured by different companies such as Ledger, Trezor, and KeepKey.
While Ankr is not involved in producing hardware wallets, it is important to store cryptocurrency securely using reputable hardware wallets to prevent theft or loss.
The best option for storing any cryptocurrency would be to use a hardware wallet. These are pieces of hardware that store the private key to your coins offline.
Today, there are two leading hardware manufacturers to choose from – Ledger and TREZOR. Both companies have different models of hardware wallets that will get the job done.
If you want deeper insights on specific models, you can read my Ledger Nano X review or my TREZOR Model T review.
Ankr Software Wallets
Ankr is a blockchain-based distributed computing platform that primarily focuses on providing cloud infrastructure for building and deploying decentralized applications. As far as I am aware, Ankr does not have its own software wallet.
A software wallet, also known as a hot wallet, is a digital wallet that stores cryptocurrency on a software application. Software wallets are accessible via the internet, and they are usually less secure than hardware wallets. Popular examples of software wallets include MyEtherWallet, Trust Wallet, and Atomic Wallet.
If you’re using the Ankr platform to store or transact cryptocurrency, you can use any compatible software wallet to manage your funds securely. It’s important to ensure that the wallet you choose is reputable, secure, and compatible with the cryptocurrency you hold. Always remember to keep your private keys safe, and backup your wallet in case of any technical issues or lost access.
Hardware wallets cost money, so if you’re not sure how serious you are about cryptocurrencies and just want to get a taste of what they feel like, perhaps you would be better off starting with a software wallet.
A software wallet is a free program that lets you store your coins on your computer or mobile phone.
The easiest Ankr coin software wallets to get started with are undoubtedly Exodus, Atomic Wallet and Guarda . All wallets are very intuitive. Exodus, Atomic Wallet and Guarda is available on desktop for Windows, Mac and Linux, as well as on mobile for both iOS and Android. If you want more information you can read my Exodus, Atomic Wallet and Guarda review.
Step 2 – Find an Ankr (ANKR) Exchange
Buy Ankr through Crypto.com
- Crypto.com is a cryptocurrency exchange company based in Singapore. As of May 2022, the company reportedly had 50 million customers and 4,000 employees. The exchange issues a token, Cronos. The company was initially founded in Hong Kong by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo in 2016 as “Monaco”. In 2018, the company was renamed as Crypto.com following a purchase of a domain owned by cryptography researcher and professor Matt Blaze. Domain sellers valued the domain at US$5–10 million.
Buy Ankr through Binance
- Binance is a cryptocurrency exchange which is the largest exchange in the world in terms of daily trading volume of cryptocurrencies. It was founded in 2017 and is registered in the Cayman Islands. Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software.
Buy Ankr through Coinbase
- Coinbase is a convenient and cheap way to buy Ethereum and the platform is open to 200+ countries). Coinbase will sell you CRO for a variable fee that depends on your payment method (credit cards have a higher fee than wire transfers), order size and market volatility. Here’s how you buy Ethereum on Coinbase: Open a Coinbase account Add your payment method (Credit card or bank account) Go to “Buy/Sell” and select the amount of Ethereum you desire Click “Buy Cronos”
Buy Ankr through Bybit
- The exchange prides itself on delivering multilingual online support to its customers and is committed to providing a transparent and efficient trading experience. The products on the platform include BTC/USD, ETH/USD, LTC/USD, and XRP/USD perpetual contracts. A perpetual contract resembles a traditional futures contract in many ways. Its main difference, however, is that it doesn’t have an expiry date. Hence, traders are allowed to hold their positions for as long as they need to.Moreover, the exchange boasts a 100,000 TPS state-of-the-art matching engine. While many of its competitors have suffered from repeated overload problems, this high-performance matching engine makes it possible for Bybit to stand above the competition.The Bybit cryptocurrency broker platform is operated by the Bybit Fintech Limited which is registered on the British Virgin Islands, with headquarters in Singapore. The company was launched in March 2018, making it a fairly young player on the market.
Buy Ankr through Kucoin
- Kucoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 8 million registered users from 700+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique ranking is in the top 5 globally. Known as the “People’s Exchange”, KuCoin operates in Seychelles, providing users with multi-language and 24/7 customer service. Meanwhile, KuCoin has established local communities all over the world in South Korea, Japan, Spain, Italy, Vietnam, Turkey, Russia, India, and other regions, providing users with the most local services. Currently, 1 out of every 4 crypto holders in the world is with KuCoin.
Step 3 – Withdraw Your Ankr (ANKR)
To withdraw your Ankr (ANKR) from an exchange, you’ll typically need to follow these steps:
- Log in to your account on the exchange where your ANKR is held.
- Navigate to the “Withdraw” or “Send” section of the exchange.
- Select ANKR as the cryptocurrency you want to withdraw.
- Enter the wallet address where you want to send your ANKR. Make sure to double-check the address to ensure that it is correct, as sending ANKR to the wrong address can result in a loss of funds.
- Enter the amount of ANKR you want to withdraw. Be sure to check the withdrawal fee, as this will be subtracted from your total withdrawal amount.
- Review and confirm the transaction details, including the withdrawal address and the amount of ANKR being withdrawn.
- Complete any two-factor authentication or other security steps required by the exchange.
- Submit the withdrawal request.
The time it takes for your ANKR to arrive in your wallet can vary depending on network congestion and other factors. Once your ANKR has been sent to your wallet, you should see the transaction appear in your wallet’s transaction history.
OVERVIEW
Who Are the Founders of Ankr?
Co-founders Chandler Song and Ryan Fang (Forbes 30 Under 30 laureates) founded Ankr in 2017 shortly after graduating from the University of California, Berkeley after being early participants in the Blockchain at Berkeley program. Chandler was working as an engineer at Amazon Web Services at the time where he met Stanley Wu, the third co-founder. Together, they took on a mission to build the most decentralized and scalable Web3 infrastructure possible.
What Makes Ankr Unique?
Ankr is a unique blockchain-based distributed computing platform that sets itself apart from other infrastructure providers through several key features:
Cost-Effective: Ankr provides a more affordable cloud infrastructure for developers and businesses by utilizing idle computing resources from data centers worldwide. This enables users to access computing resources at a lower cost than traditional cloud providers.
Scalability: Ankr offers a highly scalable infrastructure that allows developers to easily scale their decentralized applications in real-time, without the need for complicated server management or additional infrastructure.
Decentralization: Ankr leverages blockchain technology to provide a decentralized and secure platform that allows developers to build and deploy decentralized applications with ease. This also ensures that the platform is resistant to censorship and hacking attacks.
User-Friendly: Ankr’s platform is designed to be user-friendly, with an intuitive interface that allows developers to easily deploy and manage their applications. This makes it an ideal choice for developers of all levels of experience.
Green Computing: Ankr is committed to reducing the environmental impact of computing by utilizing idle computing resources that would otherwise go to waste. This means that Ankr is able to provide cloud infrastructure while reducing energy consumption and carbon emissions.
Overall, Ankr’s unique combination of cost-effectiveness, scalability, decentralization, user-friendliness, and commitment to sustainability make it a standout distributed computing platform in the blockchain industry.
Ankr is uniquely positioned as a node infrastructure and decentralized web services provider that allows DApps and blockchains to run and communicate with each other seamlessly while allowing users to earn more with their assets by delegating them easily to validator nodes. This is in contrast to centralized solutions like AWS Blockchain and many others.
What Is the ANKR Token? ANKR is the native utility token needed for transactions and payments for many of Ankr’s services as well as platform governance. ANKR has capabilities as an ERC-20, BEP-2, and BEP-20 token, and it is also available on the Polygon, Avalanche, and Fantom networks.
The ANKR token will play a core function in enabling institutional and independent node providers to monetize their nodes’ excess capacity and allow node consumers to benefit from a pay-as-you-go model, disrupting traditional blockchain API providers forcing users into paid plans requiring oversubscription.
How Many Ankr (ANKR) Coins Are There in Circulation?
According to the information available on various cryptocurrency data websites, as of my knowledge cutoff date of September 2021, the total circulating supply of Ankr (ANKR) coins was approximately 11,508,819,261 ANKR.
It’s worth noting that the circulating supply of ANKR coins is subject to change due to various factors, such as mining rewards and token burns. Therefore, it’s always a good idea to verify the current circulating supply of ANKR coins on a reliable cryptocurrency data website or by checking with the Ankr team directly.
How Is the Ankr Network Secured?
The Ankr network is secured through the use of a combination of blockchain technology and traditional security measures.
Firstly, the Ankr network leverages blockchain technology to provide a decentralized and secure platform. The platform utilizes a consensus algorithm called Proof of Useful Work (PoUW), which incentivizes nodes to contribute their idle computing resources to the network in exchange for ANKR tokens. This ensures that the network is highly decentralized and resistant to attacks.
Additionally, the Ankr network implements several traditional security measures to further enhance its security. For instance, the platform utilizes Secure Socket Layer (SSL) encryption to secure data in transit, while data at rest is encrypted using Advanced Encryption Standard (AES) encryption. The platform also uses multi-factor authentication and other identity verification measures to prevent unauthorized access to user accounts.
Moreover, the Ankr team regularly conducts security audits and implements security patches to ensure that the network remains secure and free from vulnerabilities. They also have bug bounty programs in place to incentivize security researchers to identify and report any security issues.
Overall, the combination of blockchain technology, traditional security measures, and proactive security practices make the Ankr network a highly secure and resilient platform for decentralized computing.
Ankr utilizes verification nodes in the block validation process, and as such can ensure that the quality of the network itself is maintained and that any bad actors are removed from the system.
In order to ensure that the system remains secure and that only good actors are picked, Ankr employs a reputation-based system. This filters actors based on node contributions. Furthermore, a performance test is used to fairly distribute their differing computational resources based on their workload.
Ankr also employs the intel SGX as its main component. This allows for a high level of security against certain hardware and software attacks due to the fact that it processes executions inside of the hardware itself.
When we discuss off-chain data and its processing, there is a Native Oracle System, or NOS for short, that transfers between the on-chain smart contracts as well as the off-chain data. This NOS is secure and requires authentication.
The Data Source Security itself is handled through TLS 1.2,1.3 and Perfect Forward Security, or PFS.
Where Can You Buy Ankr?
Ankr (ANKR) can be bought and traded on a variety of cryptocurrency exchanges. Some popular exchanges that support ANKR trading include:
- Binance
- Huobi Global
- BitMax
- Gate.io
- KuCoin
- Uniswap
- SushiSwap
- Balancer
- 1inch
These exchanges typically allow you to buy ANKR with other cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH), or with fiat currencies such as USD, EUR, or GBP.
It’s important to note that cryptocurrency exchanges often have different fees, deposit and withdrawal methods, and verification requirements, so it’s a good idea to compare options and choose an exchange that meets your needs. Additionally, be sure to exercise caution and do your own research before buying any cryptocurrency, as the cryptocurrency market can be volatile and unpredictable.