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Buy Balancer (BAL) in UK With GBP | CoinJar

Balancer

BAL

£0.000GBP

Figures shown refer to the past. Past performance is not a reliable indicator of future results. Pricing data is provided by CoinJar.

BAL price calculator

GBP

BAL

Overview

#384Popularity

DeFiAsset type

2020Active since

What is Balancer?

Buy Balancer (BAL): Balancer is a decentralised finance (DeFi) protocol running on the . Its primary goal is to incentivise a distributed network of computers to operate a decentralised exchange where users can buy and sell any cryptocurrency. Think of as a unique type of index fund within the crypto world.

How Does Balancer Work?

Balancer pools

Balancer pools are at the heart of the Balancer protocol. These pools are created by users who bundle together various cryptocurrencies from their portfolios.

Each Balancer pool can contain up to eight different tokens. The value of a pool is determined by the percentages of each token within it.

For example, a Balancer pool might start with 25% Ethereum (ETH), 25% DAI, and 50% Aave (LEND).

Self-balancing mechanism

Balancer uses smart contracts to ensure that each pool maintains the correct proportion of assets, even as individual token prices fluctuate.

If the price of a specific token increases significantly (e.g., LEND doubles in value), the pool automatically reduces its holding of that token to maintain the original weight distribution.

Liquidity providers (those who deposit assets into the pool) continue to earn fees during this rebalancing process.

Incentives for liquidity providers

There’s good news for users that provide liquidity to a Balancer pool. They earn part of the trading fees that are paid by traders who use their funds.

These liquidity providers are rewarded with a custom cryptocurrency called BAL.

By depositing assets into Balancer pools, they contribute essential liquidity to the network, enabling smooth trading for other users.

Why do investors buy BAL?

Liquidity mining

Investors buy BAL tokens to participate in liquidity mining. By staking their assets in Balancer pools, they earn BAL tokens as rewards.

Liquidity mining incentivises users to provide liquidity, which is crucial for the efficient functioning of decentralised exchanges.

Governance rights

BAL holders have governance rights within the Balancer ecosystem.

They can vote on proposals related to protocol upgrades, fee structures, and other important decisions.

This democratic governance model allows the community to shape the future of Balancer.

Speculation

Like any other cryptocurrency, some investors buy BAL tokens speculatively, hoping that their value will appreciate over time.

As Balancer gains popularity and adoption, demand for BAL may increase.

Conclusion: Why investors buy Balancer (BAL)

Balancer’s innovative approach to liquidity provision and self-balancing pools sets it apart from other decentralised exchanges like Uniswap and Curve. As the DeFi space continues to evolve, Balancer remains an essential player, attracting both liquidity providers and investors seeking exposure to this dynamic ecosystem.

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How to buy Balancer with CoinJar

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Frequently asked questions

What is Balancer?

Balancer is an Ethereum-based Automated Market Maker (AMM) protocol that serves as both a decentralised exchange (DEx) and a self-balancing portfolio management tool.

It allows traders to provide liquidity for their ERC-20 tokens and offers a unique approach to managing portfolios within the crypto space.

Standard Risk Warning The above article is not to be read as investment, legal or tax advice and it takes no account of particular personal or market circumstances;

Important Note for UK Residents: If you come across this article, remember that cryptocurrency investment is high-risk. Be prepared to lose your entire investment. No protection is guaranteed if things go wrong. Remember, this article does not constitute

There is a risk that any particular stablecoin may not hold their value as against any fiat currency; or may not hold their value as against any other asset. Stablecoins carry the following risks: Depegging events: Depegging events may occur with stableco

‘Meme coins’ (e.g. DOGE, SHIB, PEPE) are crypto-assets whose value is driven primarily by community interest and online trends. Meme coins carry the following risks: Volatility risk: Meme coins can have extreme price volatility, often experiencing rapid a

Specific risks associated with wrapped tokens CoinJar offers certain Wrapped Tokens such as Wrapped BTC (WBTC) which stems from DeFi. Pegged to the same value as Bitcoin itself, WBTC is a way of representing Bitcoin ownership on the Ethereum network (i.e

Specific risks associated with DeFi tokens Decentralised Finance (or ‘DeFi’) tokens (e.g. UNI, AAVE) are crypto-assets linked to financial applications and protocols built on decentralised blockchain technology. DeFi tokens carry the following risks:

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