How to buy Balancer (BAL) in Australia?
- 1. Get an Ethereum wallet
- Since Balancer is an ERC20 token you need an Ethereum wallet to purchase it.
- This is where you will store your purchased cryptocurrency. You can get a free online wallet or a hardware wallet.
- Elbaite does not hold your cryptocurrency in their own centralised wallet. Elbaite believes, your cryptocurrency is only yours if it is in your wallet.
- 2. Find an offer from a trusted seller
- Find an offer on a peer to peer exchange at a price and amount you would like to buy.
- Elbaite is a peer to peer exchange that connects trusted sellers to trusted buyers through our unique TraderTrust system.
- 3. Pay for your purchase
- Pay the agreed amount using your bank account.
- On Elbaite you can pay using OSKO / PayID or mobile banking to the Elbaite escrow bank account where it is kept safe until you receive your Balancer in your wallet. The seller will never know your banking details, keeping your data private.
What is Balancer?
A Balancer Pool is an automated market maker with certain key properties that cause it to function as a self-balancing weighted portfolio and price sensor.
Balancer turns the concept of an index fund on its head: instead of paying fees to portfolio managers to rebalance your portfolio, you collect fees from traders, who rebalance your portfolio by following arbitrage opportunities.
BAL is the governance token to the Balancer protocol, and are a keyway of decentralizing the governance of the protocol such that it remains resilient over time, and protected from the failure of any single stakeholder.
More Balancer information