In this guide you’ll get information about where to buy Lossless, if you are planning to buy LSS token – You’re in the right place!
Whereas other platforms are focusing on investment or DeFi management, Lossless is more focused on security, especially for hack mitigation. This is a decentralized platform that is designed to reduce the possibility of hacking or other security threats for token creators. The protocol would freeze fraudulent transaction and then return the (stolen) funds to the owners’ account. The action is based on fraud identification parameters’ set that is managed automatically by the platform.
This is a reliable platform as it is designed and created by a team of experts in crypto, DeFi, fin-tech, cyber security, and blockchain. The focus is about hack mitigation, but users can also take part in the possible investment opportunity. Lossless wants to prevent the upcoming hacks that may happen in the DeFi sector. It believes that DeFi sector should be safe and protected so it can grow bigger and further.
The LSS token is the native token within the platform, enabling users to take part within the network. The holders of the token can stake and then freeze the fraudulent transactions. The action will then be audited. Through evaluation, it would be revealed whether it is a hack – or not.
Lossless (LSS) Features
- Urgent freezing. The API in Lossless makes it possible for the bots (the hack spotting ones) to detect and then freeze the possible fraudulent transactions. The rewards would be then secured for the creator (of the bots).
- Fraud analysis. It’s the committee’s responsibility to overview the frozen transactions. They also have to validate frauds and make decisions whether or not they should permanently freeze the receipt addresses.
- Reversing the stolen funds. The committee also enacts transaction reversal’s proposal. Then, the code reverts the funds to the rightful owner again.
- Fast response. The platform has its own community, consisting of white hat hackers that create bots for the hack spotting, scan the transactions, and then freeze the hacks through the available dashboard.
- Decision-making body. The partnership of Lossless committee, (independent) third party auditors, and the affected token creator is crucial. They validate the hack and then take the necessary action to return the funds to the owners.
Where to Buy, Sell and Trade Lossless aka LSS
You can basically use debit card, credit card, or even PayPal to buy the Lossless (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Lossless 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 Lossless. 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 Lossless currency and exchange your Ethereum / Bitcoin / Tether with the Lossless
- Store your Lossless 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 Lossless, 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 Lossless:
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 LSS/BTC or LSS/ETH or LSS/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you LSS/USDT – so you need to convert your BTC or ETH to USDT first in order to buy Lossless (LSS)
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 Lossless (LSS) 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 Lossless (LSS) 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 Lossless. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Lossless (LSS) 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 Lossless (LSS) with Skrill?
You can’t buy LSS directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Lossless. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Lossless (LSS) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair LSS/BTC and begin the transactions.
Can I Buy Lossless (LSS) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support LSS/ETH trading pair.
What Is the Best Payment Method to Buy Lossless (LSS)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Lossless right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Lossless (LSS)?
Once you have purchased the Lossless, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Lossless (LSS)?
Find a crypto exchange which allow pairing LSS 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 Lossless (LSS) 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 Lossless is to buy it from a reliable exchange.
DeFi sector is flourishing and yet it is still prone to attack. Despite the technology (accessibility, security, and UX), the sector suffers from constant hacking that hurts the crypto world. Lossless wants to prevent such thing from happening again and again, and that’s why they create such a platform and such a technology. Those who want security should buy Lossless (LSS) to get access to the platform.