Last update: Jun 6, 2022

How to Buy Anchor Protocol (ANC)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy Anchor Protocol. Depending on where you live, you’ll have various cryptocurrency exchanges to choose from.

In this guide, we not only cover the top 3 global crypto trading platforms, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

Anchor protocol

How to Buy Anchor Protocol – 4 Easy Steps

1. Choose a cryptocurrency exchange

Finding a crypto exchange isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have Anchor Protocol of course.

2. Sign up with the cryptocurrency exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger cryptocurrency exchanges.

4. Buy Anchor Protocol

Now that you have what you need to buy Anchor Protocol, head over to the market or buy section of the cryptocurrency trading platform and buy some ANC.

If the crypto exchange doesn’t have any Anchor Protocol on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has Anchor Protocol first), and trade your Ethereum for Anchor Protocol.

Where to Buy Anchor Protocol (ANC)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
BinanceUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
FtxUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX
Etoro logoUSD, GBP, AUD, EUR, and more50+credit card, skrill, paypal, bank transfer, and moreVisit eToro
Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell Anchor Protocol

  1. Sign into the crypto exchange where you bought Anchor Protocol.
  2. Move your Anchor Protocol to the right place on the exchange. Some exchanges have trading accounts you need to use for buying and selling.
  3. Sell Anchor Protocol.

 

Crypto trading

How to Buy Anchor Protocol (ANC) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy Anchor Protocol in Australia, the process remains the same:

  1. Find a cryptocurrency trading platform below.
  2. Sign up for an account.
  3. Fund your account with AUD.
  4. Buy Anchor Protocol if it’s available. If the exchange doesn’t have Anchor Protocol. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Anchor Protocol), and trade your ETH for Anchor Protocol.

Also, take a look at our analysis of the best crypto exchanges in Australia if you’re interested in learning more about which exchanges we would recommend.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Swyftx logoAUD, NZD300+bank transfer, POLi pay, PayID, credit cardVisit Swyftx
Binance logoUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
Ftx logoUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX

How to Buy Anchor Protocol (ANC) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy Anchor Protocol in Canada, the process remains the same:

  1. Find a crypto exchange below.
  2. Sign up for an account.
  3. Fund your account with CAD.
  4. Buy Anchor Protocol if it’s available. If the exchange doesn’t have Anchor Protocol. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Anchor Protocol), and trade your ETH for Anchor Protocol.

If you’d like to know more about the exchanges we like, check our list of the cryptocurrency brokers in Canada.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Bitbuy logoCAD15+Wire transfer, Interac e-TransferVisit Bitbuy
Coinberry logoCADBitcoin, Ethereum, Litecoin, BCH, XLMInterac e-Transfer, Wire transfer, Credit card, Debit cardVisit Coinberry
Ndax logoCADBitcoin, Ethereum, Litecoin, and 4 morewire transfer, Interac e-Transfer, Bank draftVisit ndax

How to Buy Anchor Protocol (ANC) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy Anchor Protocol in the UK, the process remains the same:

  1. Find a cryptocurrency exchange below.
  2. Sign up for an account.
  3. Fund your account with GBP.
  4. Buy Anchor Protocol if it’s available. If the exchange doesn’t have Anchor Protocol. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Anchor Protocol), and trade your ETH for Anchor Protocol.

It’s also possible to check out our comparison of the UK bitcoin exchanges if you’re interested in learning more about which exchanges we would recommend.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Cex logoGBP, USD, EUR10+Bank transfer, credit card, debit cardVisit CEX
Coinjar logoGBP50+Bank Transfer (FPS), Visa, MastercardVisit Coinjar
Coinbase logoUSD, GBP, EUR150+Bank transfer (FPS), credit/debit cardVisit Coinbase

Cryptocurrency trading

Considering buying Anchor Protocol? ANC Rundown

Anchor Protocol offers a lending and borrowing method that yields up to 19.5% on stablecoin deposits. Lenders have the opportunity to deposit their UST and enjoy attractive rates while also enjoying low volatility. Borrowers have the ability to convert their LUNA collateral into useful assets, without losing control.

Anchor Protocol is a high-yield, low volatility investment that can attract risk-averse investors. This will increase demand for UST. This encourages the adoption and use of UST as a stablecoin, and subsequently the adoption in DeFi of Terra. The price of LUNA will rise due to increasing adoption of Terra (whose founders were behind the launch Anchor Protocol).

Because of its simple and elegant user interface, Anchor is different from many money market protocol like Aave or Compound. The protocol's core purpose is to connect borrowers with lenders. It allows them to borrow in stablecoin and not lose their investments. The latter can also get a lower interest rate on their stable assets.

Lenders link their Terra Station wallets and deposit UST. They pay a 1.60 UST transaction charge and receive the protocol's 19.5% annual rate pro-rata for each block transaction (every eight second).

Borrowersbond LUNA tokens to receive BLUNA (bonded LUNA) in return. They can borrow up 60% of the collateral they have deposited in UST, and pay an interest rate slightly higher than what is paid to lenders. After 21 days, bonded LUNA can be removed from bond. They also receive ANC tokens that are distributed by protocol to encourage its adoption.

To earn staking benefits on Terra, the protocol uses revenue from spread between lenders' and borrowers' interest rates. These rewards range between 5% to 7% each year. The Anchor Yield reserve is the protocol’s treasury, which covers its expenses when rates are not at a stable equilibrium. Terraform Labs injected 70,000,000 UST into Anchor’s Yield Reserve during the summer 2021 cryptomarket correction to ensure protocol stability.

Related:

author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.