How to buy BNT on MyEtherWallet



A detailed guide on smart contract trading via MyEtherWallet

Following our recent announcement on opening BNT for trading, we would like to provide our community with additional tools on how to securely trade BNT tokens using different popular wallet options.

Here we outline how to trade using MyEtherWallet:

Pre-Requisite

Before you start, please locate the following and make sure you have them available for the next steps of the process.

BNT token contract address: 0xDaf0aAA703f5231B77Dd03A5819472E871F8bc6b

0xDaf0aAA703f5231B77Dd03A5819472E871F8bc6b EtherToken contract address: 0x2FCE056A40E3B5709d9062391E00d16310299B11

0x2FCE056A40E3B5709d9062391E00d16310299B11 BancorChanger contract address 0xCA83bD8c4C7B1c0409B25FbD7e70B1ef57629fF4 ( do not send ETH to this address. Please follow the instructions below)

0xCA83bD8c4C7B1c0409B25FbD7e70B1ef57629fF4 ( Please follow the instructions below) EtherToken contract ABI link

link BancorChanger contract ABI link

Please note that all images use demo details. Do not try to use the addresses indicated in the images.

Change BNT Token

Both “Buy” and “Sell” actions are now part of the contract and will be executed with the “Change” action. This will simplify the process by changing one coin to another instead of having separate actions of “Buy” and “Sell” as a two step function.

From ETH to BNT (“Buy” BNT)

Changing ETH to BNT can be done easily following the steps below:

Step 1:

Send funds from your wallet to the EtherToken contract address.

Click “Send Ether & Tokens”

Enter the EtherToken contract address (found at the top of this post) as the “To Address”

Set “Gas Limit” to 150,000

Step 2:

Open MyEtherWallet and select the “Contracts” tab.

MyEtherWallet “Contracts” tab

Step 3:

Before actually changing ETH into BNT, you will need to allow the changer contract to access your EtherToken balance.

Enter the EtherToken contract address and ABI (found at the top of this post) and click “Access”.

Step 4:

Select the “approve” action

Enter the “spender” address (this is the BancorChanger contract address)

Enter the amount you would like the contract to be able to take from your address in wei (no funds will be moved in this action)

easy ETH to wei converter https://converter.murkin.me/

Step 5:

Now you are ready to change ETH to BNT. Follow these steps carefully:

Enter the BancorChanger contract address and ABI (found at the top of this post).

Step 6:

***** Do not perform this step until trading starts at 14:00GMT*****

Select the “Change” action

Enter the “from” address (this is the EtherToken contract address)

Enter the “to” address (this is the BNT token contract address, found at the top of this post)

Enter the amount you would like to change from ETH to BNT in wei

Important: Enter “Min return” amount (see details below)

***** Do not perform this step until trading starts at 14:00GMT*****

What is Min Return?

This indicates the minimum amount of tokens you are willing to receive at the end of the change, basically setting a maximum price you are willing to pay for each token. We recommend using 90%-95% of the price visible on our site.

For example, you aim to change 5 ETH to BNT.

If you set the value to 225 (you need to indicate this in wei which would be 225,000,000,000,000,000,000) this means the transaction will only be executed if the current price can return you 225 BNT or more. If it cannot, you will lose the gas fee that accompanies your transaction. This is why we recommend the slight buffer on your desired price.

easy ETH to wei converter https://converter.murkin.me/

Step 7:

Click the “write” button and confirm your transaction.

This concludes the purchase action and will result in changing your ETH to BNT tokens.

From BNT to ETH (“Sell” BNT)

Step 1:

Open MyEtherWallet and select the “Contracts” tab

myetherwallet “Contracts” tab

Step 2:

Enter the BancorChanger contract address and ABI (found at the top of this post).

Step 3:

***** Do not perform this step until trading starts at 14:00GMT*****

Select the “Change” action

Enter the “from” address (this indicates the BNT token contract address)

Enter the “to” address (this indicates the EtherToken contract address)

Enter the amount you would like to change from BNT to ETH token in the smallest nomination (keeping in mind 18 digits after the decimal point. if you want to change 1 BNT to ETH, you need to indicate 1,000,000,000,000,000,000 BNT)

easy ETH to wei converter https://converter.murkin.me/

Important: Enter “Min return” amount (see details below)

***** Do not perform this step until trading starts at 14:00GMT*****

What is Min Return?

This indicates the minimum amount of tokens you are willing to accept at the end of the change, basically setting a minimum price you are willing to offer for each token. We recommend using 90%-95% of the price visible on our site.

For example, you aim to change 500 BNT to ETH.

If you set the value to 11 (you need to indicate this in wei which would be 11,000,000,000,000,000,000) this means the transaction will only be executed if the current price can return you 11 ETH or more. If it cannot, you will lose the gas fee that accompanies your transaction. This is why we recommend the slight buffer on your desired price.

easy ETH to wei converter https://converter.murkin.me/

Step 4:

Click the “write” button and confirm your transaction.

Step 5:

Now that the funds are in your EtherToken address, you will need to withdraw them into your ETH wallet address.

Enter the EtherToken contract address and ABI (found at the top of this post) and click “Access”.

Step 6:

Select the “withdraw” action, enter the relevant addresses and amount.

Price Discovery

Our smart contract enables the option to check the price rate using our price discovery protocol which is programmed into the contract. However, we recommend using our website’s price discovery page for easy access.

Find your BNT Balance

Not sure how much BNT you have? Want to confirm? Not a problem. Follow these steps and you will immediately see how much BNT you have in your wallet:

Step 1:

Go to etherscan.io (this will take you directly to the Bancor Token contract).

Step 2:

Go to point #6 “balanceOf” and enter the address from which you’ve sent the funds to purchase BNT.

Step 3:

Etherscan will return the current balance of the address (the number will be in wei, meaning 2,000,000,000,000,000,000=2 BNT.)

As always, we welcome all community feedback on the process and these instructions and will constantly strive to improve them for ease of use. In the future, you’ll be able to use our simple web app and wallet to buy and sell BNT, and other smart tokens, in a friendly and secure environment.

The Bancor Devs



