Buy Balancer in India

One of the main features that make Balancer different from other DeFi coins is its Automatic Market-Maker (AMM). This unique system created by the developers of the platform changes the traditional way of buyers and sellers come together to trade. While in traditional trading systems, both parties need to agree with each other, the Automatic Market Maker (AMM) eliminates the traditional system by replacing it with Smart Contracts. The platform also employees a formula that includes 2 or more variables and one constant. In order to ensure that the value of the constant remains the same, the weight or the value of the two variables (the variables signify financial assets like stocks and precious metals) are adjusted by the Automatic Market Maker (AMM) during each trade. This kind of Automatic Market Maker (AMM) is defined as a Constant Product Market Maker (CPMM). While other cryptocurrency platforms also utilize CPMMs for their functioning, Balancer utilizes a more complex form of the system which is capable of taking into account more than 2 variables or assets. The platform also consists of Balancer pools that consist of liquidity assets deposited by multiple users. The pools consist of up to 8 different tokens and each token has a specific weight that amounts up to the total value of the pool. The pools and the tokens that they contain provide liquidity to the protocol and also help in earning money since traders have to pay money for conducting trade on the platform in the form of trading fees.

The Balancer network was first created in June 2020. Since its inception, the platform had started off with a good headstart in terms of both prices of BAL coin in BTC as well as USD. During its initial days, the BAL coin was being traded for 0.00211 BTC per token and $19.66 USD per token. But by the end of the month, the cryptocurrency saw a sharp decline in its valuation and had fallen to $12.66 USD per token while the price of BAL in BTC fell to 0.00139 BTC per token. As the year entered July, the valuation of the cryptocurrency revived a little, but soon dropped down at $9.01 USD per token and 0.000804 BTC per token. Although by the beginning of August, the Balancer cryptocurrency saw a sudden surge in its prices, and by the middle of the month, the price of BAL coin in USD had jumped to $26.11 USD per token while the price of BAL coin in BTC was at 0.002245 BTC per token. On the other hand, the BAL market cap had also reached $181 million USD. As of 27th August 2020, the BAL market cap is at $174,232,621 USD while the price of BAL token in USD is at $25.09 USD per token.

There are many local cryptocurrency exchanges in India that list Balancer Network on their platform and can be acquired using other cryptocurrencies. BuyUcoin is one of the best cryptocurrency exchange platforms that provide users with a wide variety of cryptocurrencies to choose from and offers minimum trading fees to encourage users to benefit from the cryptocurrency market.