In this guide you’ll get information about where to buy Lithium, if you are planning to buy LITH token – You’re in the right place!
Lithium Finance is a decentralized platform that can put a price on the unpriced. It is a DeFi protocol that has (decentralized) pricing oracle for the illiquid assets. Illiquid assets refer to unpriced or unconventional assets that don’t come with pricing standards or they can be difficult to value. Such assets include secondary tokens, crypto projects, private equity, NFTs, real estate, and digital assets.
These kinds of assets often lack thorough information onchain. In most cases, there is no complete price info or whatsoever. That’s why Lithium is using crypto economic incentives and also wisdom of the crowd to provide the price. The protocol also builds collective intelligence regarding the price, so people in general won’t be misled.
In short, Lithium is a decentralized protocol that would ‘price’ illiquid and unlisted assets in real world by using collective wisdom. It also develops reward and incentivization to ‘invite’ users and make them interested. For every valuable info they can provide, they will be rewarded. The protocol basically builds a connection; a bridge, between traditional finance and DeFi. It is done to expand and broadening the investment market.
Lithium comes with the so-called DMI, or Determinant-based Mutual Info, mechanism which can be used to solve the pricing issues. There are two main participants’ types: Wisdom Nodes and Wisdom Seekers. The Seekers would ask questions and provide LITH as the bounty (for the answers). The Nodes are the ones providing answers, but they need to pledge their LITH as a way to show their confidence in the answers. This DMI mechanism is the consensus to get the right answer from specific questions.
Lithium (LITH) Features
- Illiquid data. Lithium is the protocol providing (first party) data to various ranges of illiquid assets.
- DeFi bridge. The proprietary consensus mechanism is able to construct the foundation for connecting real assets to DeFi.
- Convenient platform. The information about the price can take place efficiently, safely, and quickly – and it applies to wide assets range.
- LITH token. This is the core of the platform, powering the entire operation
- Wide ranges of contributors. The collected decentralized data come from many contributors all over the world.
Where to Buy, Sell and Trade Lithium aka LITH
You can basically use debit card, credit card, or even PayPal to buy the Lithium (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Lithium 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 Lithium. 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 Lithium currency and exchange your Ethereum / Bitcoin / Tether with the Lithium
- Store your Lithium 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 Lithium, 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 Lithium:
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 LITH/BTC or LITH/ETH or LITH/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you LITH/USDT – so you need to convert your BTC or ETH to USDT first in order to buy Lithium (LITH)
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 Lithium (LITH) 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 Lithium (LITH) 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 Lithium. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Lithium (LITH) 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 Lithium (LITH) with Skrill?
You can’t buy LITH directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Lithium. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Lithium (LITH) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair LITH/BTC and begin the transactions.
Can I Buy Lithium (LITH) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support LITH/ETH trading pair.
What Is the Best Payment Method to Buy Lithium (LITH)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Lithium right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Lithium (LITH)?
Once you have purchased the Lithium, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Lithium (LITH)?
Find a crypto exchange which allow pairing LITH 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 Lithium (LITH) 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 Lithium is to buy it from a reliable exchange.
Pricing information is crucial in business, especially in finance and trading. Imagine how powerful it will be to be able to unlock it, especially for the assets that are difficult to price. Through Lithium, illiquid assets won’t have to be mystery anymore. This platform may not be for everyone, but for those who are interested, they need to buy Lithium (LITH) first as their way in.