The most interesting thing about Bancor is the way trading is done. There are no bids, asks, market makers or takers. If you are willing to exchange a token there, you will simply be provided with a price. Bancor uses a formula for generating it, based upon the current prices at other exchanges and available liquidity. You would have to use an external wallet, like MetaMask (and the few others which are supported) in order to send the transfer. The company provides a very good tutorial for newcomers. Obviously, this business model is in the true spirit of cryptocurrencies. One access the platform with his own wallet, makes a transaction and leaves. There is no centralized storage of each trader’s coins and hence no risk of an “exit scheme” – the exchange simply taking all of the client’s assets and closing. While the Bancor Network is quite transparent (unlike some of the shadier establishments in the world of crypto), their service is not that suitable for active traders.
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