In this guide you’ll get information about where to buy Lien, if you are planning to buy LIEN token – You’re in the right place!
The Lien Protocol is a smart contract that allows the bifurcation, or trenching, of ETH into two components: stable and variable. The Liquid Bond Token (LBT) is the variable component, while the Stable Bond Token (SBT) is the stable component (SBT). The LBT is intended to absorb the majority of the volatility, or risk of fluctuation in the ETH: USD market. Because of this feature, the LBT is a supercharged financial product that functions effectively like a 2x leveraged call option on ETH. This feature of the SBT makes it an ideal collateral for the stable coin, iDOL.
The app is simple to use for Lien Protocol users. The Lien app will let users to purchase, trade, and sell assets just like any other exchange service. However, the Lien Protocol’s mechanics and what goes on behind the scenes are complicated. It may be cool and entertaining to users.
- Official website: https://lien.finance
- Twitter: https://twitter.com/lienfinance
- Telegram: https://t.me/lien_finance
- Whitepaper: https://lien.finance/whitepaper
Table of Contents
Lien (LIEN) Features
- iDOL. It is a stable currency backed by ETH derivatives that is not subject to market volatility or human control. iDOL is an ERC20 token designed to be steady in relation to the US dollar. iDOL is only backed by ETH derivatives, with no centralized assets serving as collateral. The iDOL price is stabilized by market mechanisms acting on arbitrage possibilities. Because the Lien Protocol lacks governance, iDOL tokens are immune to censorship.
- LBT. It is an ETH token that has been leveraged. If you are optimistic on ETH, you may use LBT to generate leveraged long trades. During flash collapses, you don’t have to worry about margin calls or liquidations. There’s no reason to be concerned about counterparty risk. This is a considerable edge over other leveraged trading approaches.
- LIEN. The Lien Token (LIEN) is a utility token that allows holders to earn reductions on protocol costs while transacting on the Lien Protocol and FairSwap. Fees are collected in ETH or iDOL and given proportionally as discounts/rebates to Lien Token holders at the end of each month. When users mint the iDOL stable coin and swap assets through FairSwap, the Lien Protocol imposes a fee (0.2 percent) (0.3 percent – variable). Lien Token holders are responsible for 100% of Lien Protocol fees and 20% of FairSwap costs.
Where to Buy, Sell and Trade Lien aka LIEN
You can basically use debit card, credit card, or even PayPal to buy the Lien (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Lien 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 Lien. 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 Lien currency and exchange your Ethereum / Bitcoin / Tether with the Lien
- Store your Lien 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 Lien, 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 Lien:
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 LIEN/BTC or LIEN/ETH or LIEN/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you LIEN/USDT – so you need to convert your BTC or ETH to USDT first in order to buy Lien (LIEN)
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 Lien (LIEN) 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 Lien (LIEN) 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 Lien. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Lien (LIEN) 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 Lien (LIEN) with Skrill?
You can’t buy LIEN directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Lien. You can buy BTC/ETH with skrill by using these exchanges::
- LocalBitcoins
- Paxful
- Virwox
- SpectroCoin
- Lykke
- Exmo
- Coingate
Can I Buy Lien (LIEN) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair LIEN/BTC and begin the transactions.
Can I Buy Lien (LIEN) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support LIEN/ETH trading pair.
What Is the Best Payment Method to Buy Lien (LIEN)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Lien right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Lien (LIEN)?
Once you have purchased the Lien, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Lien (LIEN)?
Find a crypto exchange which allow pairing LIEN 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 Lien (LIEN) 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 Lien is to buy it from a reliable exchange.
Conclusion
The increase in collateral for stable coins prompts investors to enter the cryptocurrency market. However, many investors, particularly newcomers, continue to find the market unfriendly. They must not only choose suitable and profitable targets among a large number of crypto projects, but they must also navigate some intricate processes relating to a variety of challenges. The Lien (LIEN) is present to establish a simpler mechanism that will entice regular investors to join the community, increasing the value of the LIEN.
