Ever had a challenging time swapping your favorite cryptocurrency token?
Every cryptocurrency investor has been there. You have specific crypto, and you wish to convert it into something like Bitcoin or Ethereum. Unfortunately, the cryptocurrency exchange does not allow it. If you find a platform that supports this swap, the high fees make you drop the plan.
To sort all these problems, Kyber Network was born. KNC is a decentralized exchange where you can swap tokens with bare minimum fees. Yes, nobody runs KNC. There is a set code that runs the whole network, making it 100% decentralized.
What is the Kyber Network coin (KNC)?
The Kyber Network coin (KNC) is the native currency of the Kyber Network. There is a maximum capped supply of KNC coins at 177 million. According to coinmarketcap, all 177 million coins are in circulation. Hence, it is only a matter of time to see the KNC price shoot up.
Kyber Network cryptocurrency live price today as of 13th April 2022:
KNC price in INR – 290 INR
KNC price in USD – 3.8 USD
Why should I buy the Kyber Network coin KNC?
Here are a few reasons you must consider investing in the Kyber Network coin.
1. This tool allows you to swap tokens instantly minus the need for an exchange platform.
2. KNC allows vendors to accept different cryptocurrency types while still being paid in the crypto they choose.
3. Finally, for a coin that pumped over 383% in 2021, there is tremendous scope for this coin to boost again.
What is the use of the Kyber Network coin?
Here are a few use cases of this coin that regular investors must know.
1. Swap tokens, earn tokens or vote on governance.
2. Paying fees for transactions on the network.
3. Trade tokens at the best rates you can find online.
4. Build on the Defi industry’s most used liquidity hub.
How to buy Kyber Network coin KNC in India?
There are many cryptocurrency apps in the market where you can purchase the Kyber Network coin. However, I believe the best cryptocurrency apps in India are these two platforms that I have been using – Binance and WazirX.
Here are the basic steps you must follow on each cryptocurrency app.
1. Sign up
2. Add a Bank account
3. KYC verification
4. Deposit INR/USD in your wallet.
5. Start trading
Kyber Network coin KNC crypto price prediction:
In 2021, the Kyber Network coin grew from 60 INR to 290 INR, a whopping 383% increase. If you invested INR 6000 and bought 100 KNC coins, their value during that year would be INR 29,000.
In 2022, the cryptocurrency market is going through a bear phase. The Kyber Network coin has fallen to INR 290 today. Hence, price predictions have taken a severe hit. However, if you believe in the future of the KNC network, I see them ending the year between INR 380 – INR 634 (25 – 110% growth.)
1. Is cryptocurrency legal in India?
Yes, cryptocurrency is legal in India. From 1st April 2022, if you buy any digital currency, you will incur a 30% + 1% TDS cryptocurrency tax in India.
2. Can the KNC coin be converted to cash in India?
Yes. You can buy the KNC coin on multiple currency exchange platforms in India. These platforms support buying the KNC coin in INR.
3. Is Kyber Network coin a good investment in 2022?
Yes. As this coin has reached the maximum supply and is one of the rare decentralized currency exchanges, there is immense scope for double-digit gains every year.
4. Which is the best research tool for cryptocurrency online trading?
I am a diehard Token Metrics fan. Their ratings and analysis allowed me to uncover hidden crypto gems. For any newbie or experienced professional, having Token Metrics is the best thing possible. If you sign up using my special link, you will get a LIFETIME discount of 10% on all plans.
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