We are frequently asked why tokens cannot be converted on the Bancor Network using Bitcoin. The answer is quite simple:
Bancor Protocol is currently only available on the Ethereum blockchain. As such, only ETH and other ERC20 tokens can be used in Bancor's decentralized liquidity network. You can purchase BNT (or any other token in the network) for any other token in the network, currently ETH, GNO and STX, with many more onboarding shortly.
In the future, Bancor will be available on other smart contract-enabled Blockchains such as Bitcoin (post RSK), NEO, EOS, etc. Stay tuned for developments and updates via our blog available at https://blog.bancor.network
Still wondering why we chose to launch our network on the ethereum blockchain?
Check out this great community-generated article “Why Bancor Chose Ethereum" which offers some additional insight from a Bancor user.
