In this guide you’ll get information about where to buy Lido DAO Token, if you are planning to buy LDO token – You’re in the right place!
Lido DAO claims itself as a decentralized platform that offers liquidity for the staked assets. The platform wants to simplify staking process of digital assets and make sure that it would be easy, simple, and efficient.
Lido DAO is constructed as a community building a service for liquid staking, and it’s designed for Ethereum. The platform enables its users to earn the (staking) reward without having to lock assets or maintaining any staking infrastructure.
Users are able to start staking within Phase 0 within Ethereum 2.0. Ethereum may be the staking economy today, but staking within the first stages would have its own high (market) risk which is related to the frozen staked assets. The frozen assets can’t be accessed until transfer process takes place next year. Until it happens, no one can withdraw the staked assets or sell them to an exchange.
This is when Lido’s function comes to an existence. The liquid staking protocol is able to solve these issues. Thanks to the platform, users are able to deposit their assets in (Lido) smart contracts and get the reward. LDO is set as the native token with many functions, such as governance, fee distribution and parameters management, and others.
Table of Contents
Lido DAO Token (LDO) Features
- A handy protocol. Lido constructs its own state-of-the-art protocols for liquid staking process to grow the (staking) economy
- Staking activity. Lido enables its users the ability to stake their assets so they can get staking rewards in a daily basis. Not only users are able to stake any amount, they won’t have to worry about any minimum or such thing alike.
- Minting benefit. When staking, users basically mint the staked tokens. It would be pegged with ratio 1:1 to the initial stake. To compound the yield, the staked tokens could be used across DeFi ecosystem.
- DeFi Focus. Blockchain platforms are constructed with financial benefits as a part of its operation and mechanism. When users stake their assets, they want to get profits. Through Lido, users are able to use their own staked assets to get yield on the top part of the yield. Use the tokens, which can get the daily rewards, as collateral. Users are able to get yield farming, manage lending, and others.
Where to Buy, Sell and Trade Lido DAO Token aka LDO
You can basically use debit card, credit card, or even PayPal to buy the Lido DAO Token (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Lido DAO Token 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 Lido DAO Token. 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 Lido DAO Token currency and exchange your Ethereum / Bitcoin / Tether with the Lido DAO Token
- Store your Lido DAO Token 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.
Get $10 Bonus when you sign up for Coinbase!
- 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 Lido DAO Token, 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 Lido DAO Token:
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 LDO/BTC or LDO/ETH or LDO/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you LDO/USDT – so you need to convert your BTC or ETH to USDT first in order to buy Lido DAO Token (LDO)
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 Lido DAO Token (LDO) 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.
- 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 Lido DAO Token (LDO) 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 Lido DAO Token. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Lido DAO Token (LDO) 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 Lido DAO Token (LDO) with Skrill?
You can’t buy LDO directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Lido DAO Token. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Lido DAO Token (LDO) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair LDO/BTC and begin the transactions.
Can I Buy Lido DAO Token (LDO) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support LDO/ETH trading pair.
What Is the Best Payment Method to Buy Lido DAO Token (LDO)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Lido DAO Token right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Lido DAO Token (LDO)?
Once you have purchased the Lido DAO Token, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Lido DAO Token (LDO)?
Find a crypto exchange which allow pairing LDO 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 Lido DAO Token (LDO) 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 Lido DAO Token is to buy it from a reliable exchange.
Those who want to make use of the liquid staking service on Ethereum can consider Lido DAO, especially since the platform offers a simple mechanism. There will be no drama or complication, and users can still expect the greatest profits. However, the only way to join the platform is to buy the token, so be sure to buy Lido DAO Token (LDO).