Lisk (LSK) coin is one of the top 100 cryptocurrencies by market cap, according to coinmarketcap. It would be right to say that LSK coin has several features as a cryptocurrency that places Lisk ($LSK) among the top 100 coins. Today, Koinpost is a publishing a step-by-step guide on how to buy Lisk and what is LSK coin.
What is Lisk [LSK] Coin?
Lisk cryptocurrency was created out of a hard fork in May 2016. Interestingly, the hard fork led to a transformation in the database from SQLite to PostgreSQL. It is to be noted that Lisk [LSK] is an open source project.
Lisk is described as a sidechain and Dapp development platform. The Lisk Sidechain Development Kit platform facilitates the development of Dapps and formation of a sovereign blockchain secured by the Lisk blockchain.
As per Lisk’s official website, Lisk’s native coin LSK, is a utility token. As per the website, it signifies that LSK is used to complete numerous activities on the Lisk blockchain. LSK is used when one wants to send a transaction or vote for one’s preferred delegate. The costs associated with using Lisk services are covered using LSK tokens.
How to Buy Lisk [LSK]?
In the next sections, we will be describing the methods to buy Lisk using different means including fiat, altcoins, and Bitcoins. At press time, there are several exchanges which offer Lisk buy and sell. Some of these exchanges include HitBTC, Huobi, Coinall, Binance, Bittrex, Okex, and Kucoin. However, each exchange offers only a limited number of pairings. Some of the popular pairings include LSK/USDT, LSK/BTC, LSK/BNB, and LSK/ETH.
Below are the steps for how you can buy Lisk:
Step 1: Select a suitable crypto exchange supporting Lisk
You can find the list of exchanges supporting Lisk, HERE.
Step 2: Sign up on the selected exchange
Suppose the selected exchange is Binance. Now, go to Binance official website and sign up. You can purchase Lisk with BTC, ETH, etc. Now, login to Binance dashboard.
Step 3: Add funds to your exchange account
Find the Deposit tab and click on it. Under that, select the coin which you want to deposit. Suppose, you select BTC to deposit. Now, send the BTC amount to the BTC address given on the screen. Remember, not to send BTC to ETH address or any other altcoin address.
Step 4: Buy Lisk by exchanging crypto
If you have deposited BTC, convert Bitcoin into Lisk by selecting the BTC/LSK market. You can either place a limit order or a market order.
Moreover, you can instantly exchange Bitcoin for Lisk [LSK] on some non-custodial exchanges as well. These include Changelly as well as Shapeshift. However, at present Lisk is temporarily unavailable on Shapeshift. But Koinpost will update you as soon as the service is back online.
Do refer to ‘Lisk Coin Wallet’ section below to know more about LSK wallet and phases involved in the formation of a Lisk digital wallet.
As a precaution, we don’t recommend one to hold one’s purchased LSK coins on any exchange. You can store your LSK tokens on a hardware wallet like Ledger. Crypto exchanges have some percentage of funds on hot wallets which might get hacked. Although, Binance have created a special fund called ‘SAFU’ which claims to compensate the users in case they face a hacking attack on Binance.
Buy Lisk [LSK] with Fiat
Presently, there are a few crypto exchanges that provide an LSK/ Fiat Currency pairing to purchase LSK coins with fiat currencies. As per coinmarketcap, Bivavo and Bitbay exchange offer LSK/EUR pair. Indian exchange BitBNS offer LSK/INR pair. South Korean Exchange Upbit offer LSK/KRW pair. Exmo offer LSK/RUB and LSK/USD pair. It is to be noted that these all are small exchanges with low volumes. Moreover, they are also a bit risky as compared to top 10 exchanges on coinmarketcap. On the basis of trade volumes, it is a bit safe to purchase LSK with Bitcoin on Binance, HitBTC, Bittrex or Huobi Global based on trade volumes.
Buy Lisk [LSK] with Cryptocurrencies (BTC or Altcoins)
Different exchanges provide the option to buy LSK coins with other cryptocurrencies. Binance offers LSK/BTC, LSK/ETH, and LSK/BNB pairs. Coinex offer LSK/BCH and LSK/BTC pair. HitBTC offers LSK/EOS pair. However, the liquidity is very low at the time of reporting. HitBTC also offers LSK/ETH pair. HitBTC, Binance, Huobi Global, OKEx, and Kucoin- all these exchanges offer LSK/ETH pair.
Binance and Coinex have the highest reported volume on a daily basis, at press time. Because of high volumes, they provide high LSK liquidity.
Buy Lisk [LSK] with Bitcoin
There are a number of crypto exchanges where prospective LSK buyers can buy Lisk coin. The exchanges offering LSK/BTC pair include Binance, CoinEgg, HitBTC, Bittrex, and Changelly. To get LSK coin, one needs to buy Bitcoin on an exchange and then trade that Bitcoin for Lisk.
Lisk Coin Exchange
To buy Lisk [LSK] in other countries, the following crypto exchange websites might be useful:
Changelly is one of the top websites to buy and exchange several digital assets.
At present, Changelly supports more than 100 virtual currencies including Lisk [LSK]. Changelly charge a fee of 0.25 percent on every crypto exchange.
What’s more, Changelly doesn’t require KYC. User can log in with his email ID and exchange the desired coins. To buy LSK, you will need a Lisk address where you want LSK tokens to be deposited.
On Changelly, you can buy some specific cryptocurrencies with debit or credit card also.
Click Here to Register & Buy Lisk From Changelly
Binance is the largest cryptocurrency exchange by market cap in terms of daily reported trading volumes. Binance supports trading of several cryptocurrencies including Lisk [LSK].
Binance started in mid 2017 and did an ICO for its native BNB tokens. Since then, it has come a long way and has become the topmost cryptocurrency exchange around the globe. Till date, it has done many successful IEOs and supports numerous coins.
At present, it supports 571 trading pairs (including LSK trading pairs). Binance has garnered the support of a very big crypto community due to its easy to navigate User Interface and high liquidity.
What’s more, Binance is one of the cheapest crypto exchange to buy and sell digital currencies. They charge only 0.1% fee per transaction.
Click Here to Register & Buy Lisk From Binance
OKEx is one of the topmost centralized cryptocurrency exchanges by daily trading volumes. OkEx lets you to buy LSK coin with three pairs.
OKEx started off in 2017 and has its headquarters at Malta. It has a colorful and easy to navigate user interface. The Lisk [LSK] pairs it supports are LSK/USDT, LSK/BTC, and LSK/ETH. Among these pairs, LSK/USDT has the highest trading volume on OKEx.
Click Here to Register and Buy Lisk on Okex
4. Huobi Global
Founded in China, Huobi is presently a Singapore-based cryptocurrency exchange. It was founded in 2013. Huobi allows you to buy LSK with 2 trading pairs. It offers high liquidity for LSK coin specifically when talking abour LSK/BTC pair. The Lisk trading pairs supported by Huobi Global are LSK/BTC and LSK/ETH.
Click Here to Register and Buy Lisk on Huobi Global.
Poloniex is a US-based digital asset exchange founded in 2014. Recently, Poloniex spun out of its parent organization Circle. Poloniex supports Lisk trading by providing two trading pairs.
Poloniex offers more than hundred virtual currencies to its users to trade. Furthermore, it also provides the deposit of USDT. However, due to regulatory issues, Poloniex spun out of its parent company and recently announced that US customers won’t be able to trade on their exchange after November 1, 2019.
It is to be noted that Poloniex is not best for beginners in crypto trading. This is because there is no way to buy cryptocurrencies from fiat currency. However, the user interface of Poloniex is quite straightforward for traders of all levels.
Poloniex exchange charges a fee in the range of 0.15% to 0.25% on all cryptocurrency trades. The fees essentially depends upon whether you are a maker or a taker, like all other exchanges.
Poloniex provides the supported for 2 major Lisk pairs. These include LSK/BTC and LSK/USDT.
Click Here to Register & Buy Lisk From Poloniex
Kucoin is one of the emerging cryptocurrency exchanges started in 2017 and has its native token with the ticker- KCS, also known as, Kucoin Shares.
Kucoin supports two trading pairs for LSK coin. These include LSK/BTC and LSK/ETH. The LSK/BTC pair has got a decent liquidity of Lisk coin. Overall, Kucoin is a good exchange for beginners to try a hand in the crypto trading world.
Click Here to Register & Buy Lisk From Kucoin
Bittrex is one of the most popular cryptocurrency and digital asset exchange or website to buy/sell cryptocurrencies. It has an attractive user interface. They have got a significant liquidity of Lisk. Furthermore, the cryptocurrency exchange have been supporting buy/sell of LSK coin for quite some time now.
Moreover, they are based out of the United States and are well-regulated as well as obedient with all of the present rules of the country. Furthermore, Bittrex have 352 active markets listed on its exchange platform, as per coinmarketcap. Bittrex has a trading fees of 0.25 percent.
What’s more, Bittrex exchange provide access to several progressive trading tools. Because the UI is quite clean, therefore the beginners should experience no inconvenience in trading. To initiate an account on Bittrex, you can follow this official guide published on their website.
Click Here to Register & Buy Lisk From Bittrex
Lisk Coin Price
At the time of writing, Lisk (LSK) has a market capitalization of $96.6 Million, with a price of $0.797 a pop. Notably, the present price of Lisk is significantly down as compared to its all-time high of $39.31 on 7, January, 2018. Moreover, Lisk reached an all-time low of $0.95 on March 2, 2017. According to coinmarketcap, Lisk is having a volume of $2.1 Million, at the time of reporting. Lisk is up by 0.89% on a daily chart.
It is to be noted that in terms of market capitalization Lisk is positioned at 54th rank, as per coinmarketcap and is showing a negative ROI of 60% from the date of its release.
Lisk Coin Wallet
One should set up a Lisk Nano digital wallet for storing the purchased LSK coins, prior to purchase of LSK coins. It is to be noted that Lisk Nano is the official GUI wallet developed by the Lisk team. Lisk Nano wallet doesn’t require you to download the complete blockchain. This is because, you automatically get connected to Lisk full nodes hosted by Lisk foundation. Therefore, no synchronization is required.
This Lisk wallet, once properly setup and filled with funds, can later be used to sell LSK coins. For selling the Lisk tokens, the coins first need to be transferred from the Lisk wallet to a cryptocurrency exchange of your choice and then traded for the available cryptocurrency as per the availability of corresponding trading pair.
At present, Lisk Nano provides support for Mac, Windows, and Linux.
Lisk Coin News
To get latest updates about LSK coin and its price analysis, you can refer to Koinpost’s LSK Coin category page. To know more about Lisk and its future roadmap, you can refer to its official website, Here. Also, for latest updates, you can refer to Lisk’s official Twitter account.