Last update: Jun 6, 2022

How to Buy NKN (NKN)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy NKN. Depending on where you’re located, you’ll have different trading platforms to choose from.

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

Let’s get started!

Nkn

How to Buy NKN – 4 Easy Steps

1. Choose a crypto exchange

Finding a crypto trading platform 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 NKN of course.

2. Sign up with the crypto 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 crypto exchanges.

4. Buy NKN

Now that you have what you need to buy NKN, head over to the market or buy section of the cryptocurrency exchange and buy some NKN.

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

Where to Buy NKN (NKN)

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 NKN

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

 

Crypto trading

How to Buy NKN (NKN) 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 NKN in Australia, the process remains the same:

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

Alternatively, if you want to know more about the exchanges we recommend, look at our comparison of the safest crypto exchanges in Australia.

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 NKN (NKN) 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 NKN in Canada, the process remains the same:

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

Also, take a look at our analysis of the most trusted crypto exchanges in Canada If you’re interested in learning more about the exchanges we would recommend.

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 NKN (NKN) 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 NKN in the UK, the process remains the same:

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

Or, if you’d like to know more about the exchanges we prefer, read our list of the sites for bitcoin trading in the UK.

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 NKN? NKN Rundown

NKN (or New Kind of Network) is an open-source protocol that allows peer-to-peer networks to share bandwidth and Internet connectivity. Alpha, and Whitfield Diffie, inventor of public-key cryptography as advisors. NKN Mainnet launched July 2019, and now has more than 25,000 full consensus nodes (more that Bitcoin or Ethereum).

Notable uses for NKN are:

  • Content Delivery System (contract with Chinese video giant iQIYI).
  • Edge computing (contract with China Mobile
  • D-chat (secure messaging application)
  • nShell (secure remote access to terminals)


NKN's consensus algorithm is based upon Cellular Automata: A New Kind of Science and Ising Model. This model uses a simple local majority rule to allow for system-level convergence in a limited number of iterations. The goal of the design is to scale to arbitrarily many equal consensus nodes.

NKN uses a global addressing system based on public key to allow peer-to-peer communication without centralized servers. The routing of packets uses Chord Distributed Hash Tables (DHT), which map each NKN address with a random position on the Chord DHT ring.

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.