In this guide you’ll get information about where to buy Lokr, if you are planning to buy LKR token – You’re in the right place!
Lokr is a decentralized platform for escrow and token locking that implements multi-chain nature and all-in-one features. It has its own privacy setting and security that will protect users’ data, privacy, and comfort. The platform wants to promote that DeFi space (and its operation) can be a trusted and safe place, and it builds trust through technologies and myriads of features. The platform believes that human element should be removed from the equation, focusing on digital governance through codes. It also believes that omni-channel and seamless digital services can be easily accessed through desktop, tablet, and mobile for easy management.
Token ecosystems are complicated and complex. By giving back full controls to users, while allowing them to be connected to various different platforms, Lokr believes that escrow platform can be a powerful one, with robust user experience within its core. They also believe that the entire token ecosystems (and also the economy) can be made simpler with more trusts and reliability, encouraging network participants to be responsible for the token distribution.
Lokr is about flexible and fully customizable framework, allowing wider adoption and acceptance of DeFi and blockchain economies. The platform offers simplified ways and methods to get access to token locking mechanism through a simple user interface. Thanks to their technologies and efforts, network participants, validators, and investors can enjoy monetizing opportunities and a wide array of payout options, and they no longer have to depend on any third-party escrow service or centralized token holder.
- Official website: https://www.lokr.io/
- Twitter: https://twitter.com/Lokr
- Telegram: https://t.me/Lokr
- Whitepaper: https://docsend.com/view/pimr5znxhc5g6vah
Table of Contents
Lokr (LKR) Features
- Lokr. This is designed as the world’s multi-chain and also most versatile token escrow service. It focuses on users and their needs; thus, allowing cross-chain support via Polkadot. Users can enjoy monetization of the locked tokens while enjoying the flexible and customizable release schedules. It also supports token unlocks with event based mechanism.
- Swapr. This is the token swapping protocol with cross-chain nature and peer-to-peer nature. It supports cross-chain (atomic) swaps with multi-sig and privacy options. This feature can swap the tokenized (digital) asset – any of them. Moreover, it implements Lokr Oracle feeds for instant execution with event basis system.
- Polkadot basis. The platform is constructed on Polkadot chain, which ensures fast delivery and other positive traits.
Where to Buy, Sell and Trade Lokr aka LKR
You can basically use debit card, credit card, or even PayPal to buy the Lokr (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Lokr as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy Tether first. After you get the ETH or BTC or USDT, you can convert it to Lokr. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.
In general, the process would be:
- You go to the online exchange and buy the Ethereum (ETH), Bitcoin (BTC), or Tether (USDT)
- Find a crypto exchange that supports Lokr currency and exchange your Ethereum / Bitcoin / Tether with the Lokr
- Store your Lokr to a secured wallet
Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) or Tether (USDT)
There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.
The site will ask for some basic information about yourself, make sure to tell the truth. Otherwise, you could face withholding of your investment. Make sure to type your name, your e-mail, and your password correctly. The stronger your password is, the safest your money will be. You will be asked to check your status as a living being using a re-captcha box and to agree to the terms of use of the platform.
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- You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
- Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
- You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.
That’s the first step in buying Lokr, once you get your Bitcoin or Ethereum or Tether, you can continue to the next step.
Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments
After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH or USDT from your Coinbase wallet.
With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.
These are the best exchanges we can recommend for you to exchange BTC or ETH or USDT with Lokr:
Gate.io is a crypto exchange service that is part of Gate Technology Inc. Gate.io is registered in Virginia, United States, and founded in 2017. They only handle transactions using cryptocurrencies, so you won’t find Fiat options with them. Since they work with the best ranked digital assets in the industry, they can average up to $48million in transactions.
- Deposit Methods: Cryptocurrency Only
- Fiat Currencies: N/A
- Supported Cryptocurrencies: BCH, EOS, TRX, ONT, ETH, BTC, BTM, AE, OCN, ADA, IHT, XRP, ETC, NAS, LTC, & over 1040+ more
- Trading Pairs: 1801+
IMPORTANT! Once you are registered to the crypto exchange above, Go back to COINBASE and send your Bitcoin/Ethereum/Tether to your new exchange. Find the LKR/BTC or LKR/ETH or LKR/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you LKR/USDT – so you need to convert your BTC or ETH to USDT first in order to buy Lokr (LKR)
Step 3: Managing Your Crypto Assets in a Secure Wallet
As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.
You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.
There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.
For Securing your Lokr (LKR) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
- Secure
- Mobile Friendly
- Easy to Manage
- Supported Coins: 1200+
TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.
- Invented for your digital independence
- keeps your keys safe
- Easily back up your entire wallet
- Supported Coins: 1093+
Frequently Asked Questions (Faqs)
Can I Buy Lokr (LKR) with PayPal?
You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the Lokr. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Lokr (LKR) with Cash?
You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:
- Make sure you have a BTC / ETH wallet before you buy from seller
- Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.
Can I Buy Lokr (LKR) with Skrill?
You can’t buy LKR directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Lokr. You can buy BTC/ETH with skrill by using these exchanges::
- LocalBitcoins
- Paxful
- Virwox
- SpectroCoin
- Lykke
- Exmo
- Coingate
Can I Buy Lokr (LKR) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair LKR/BTC and begin the transactions.
Can I Buy Lokr (LKR) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support LKR/ETH trading pair.
What Is the Best Payment Method to Buy Lokr (LKR)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Lokr right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Lokr (LKR)?
Once you have purchased the Lokr, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Lokr (LKR)?
Find a crypto exchange which allow pairing LKR with BTC or ETH or USDT – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine Lokr (LKR) and Not Buying It?
You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a Lokr is to buy it from a reliable exchange.
Conclusion
Lokr may not be for everyone, but it would be a perfect platform for those who want to enjoy trusted escrow service as well as tokenized locking method. With Lokr main’s products, users can enjoy various services easily although they need to find an entryway to the protocol, which means that they need to buy Lokr (LKR) first.
