Below you will find a step-by-step guide for converting tokens on the Bancor Network using your Bancor Wallet. This wallet is linked to the Bancor Network and enables you to instantly convert between any two tokens on the network.
Let’s get started:
Step 1: Go to https://www.bancor.network/
Step 2: Click the Buy/Sell button
At this stage, if we identify that you are not logged into Bancor, you will be prompted to log in. Choose your favorite social messaging app and sign in.
Step 3: Enter Amount to Convert
In the widget screen, you can choose the amount of tokens that you would like to convert. You also have the option to change the "From" and "To" tokens using the drop down menu.
If you decide to change your action from "Buy" to "Sell" or vice versa, you can easily navigate between these options within the widget.
Step 4: Advanced Settings (optional)
After you enter the token amount and set the action you’d like to perform, you can open the “Advanced Settings” option and limit the transaction to a specific maximum price. By limiting the price, you ensure that the transaction will only execute if the price you pay per unit is below the rate limit you set.
Although setting a price limit prevents you from paying rates that are higher than what you want to pay per unit for a given conversion, transactions that are not executed due to the limit are still charged Ethereum network gas fees.
Once you have your transaction ready to execute, click the “Buy” or “Sell” button and proceed to the next screen.
Step 5: Review Gas Fees
This step displays the highest possible Ethereum network gas fee that your conversion will incur. After reviewing the transaction cost, enter your wallet password and press Convert.
Step 6: Conversion in Process
Congrats! Your transaction was sent to the Ethereum blockchain and is now being processed. If you want to see your transaction on the blockchain, simply click "View Your Transaction on EtherScan” to see its status. Status may take some time to update, depending on Ethereum network traffic.
Once the transaction has been confirmed, you will be able to view your tokens in your Bancor wallet.
Step 8: Check Your Wallet Balance
Click on your profile picture in the top right corner of the screen and select “My Wallet”.
Here you can see your tokens, transaction history & your token balances.