Buy Lisk with Credit and Debit Cards
The are two methods of buying Lisk with credit and debit cards. The first method is done by buying Bitcoin or Ethereum on an exchange such as Coinbase and then converting the purchased crypto into Lisk on an exchange such as Binance.
The second method, uses the shapeshifting service Changelly and allows you to maintain control of your private keys.
Buy Lisk with Bank Transfer
Just like credit and debit cards, the first method of obtaining Lisk with a bank transfer or wire is by buying Bitcoin or Ethereum on a fiat to crypto exchange such as Coinbase, and converting the purchased cryptocurrency into Lisk, on an exchange such asBinance.
You can also use the shapeshifting service Changelly which allows you to maintain control of your private keys.
All will be explained below, with clear pictures and steps!
Step 1: Aquire Bitcoin or Ethereum
There are several exchanges to buy Bitcoin and Ethereum on.
The reason we have to purchase this way is because most cryptocurrencies are only traded on Bitcoin and Ethereum pairs. This will be further explained in step 2.
Coinbase is a very beginner friendly US based exchange, that sells cryptocurrency to most countries and all US states. Expect a 1.49% fee on bank transfer purchases, and a 3.99% fee for credit and debit purchases.
Coinmama is another option that focuses on credit and debit card purchases. Coinmama is great because they have higher debit and credit card purchasing limits than Coinbase, as well as instant delivery. Coinmama’s fees are around 5.5%.
Bitpanda is an exchange that also focuses on credit and debit card purchases. Their fees are between 3%-4%, and only sells Bitcoin and Ethereum to European countries.
How to Buy Cryptocurrency on Coinbase
If you signup to Coinbase through this link, you will recieve an extra $10 worth of Bitcoin on your first $100+ order.
After creating your Coinbase account, you will want to add a payment method. If you are trying to get the most bang out of your buck, I would reccomend using a bank transfer. If time is a concern, maybe go with credit or debit card, as there is instant delivery!
Click the Buy/Sell tab at the top/middle of your screen. From this page, you can easily purchase Bitcoin, Litecoin, and Ethereum.
After hitting Confirm Buy, we are ready to go to the next step!
How to Buy Cryptocurrency on Coinmama
After your account is verified, you can go to the navigation bar and purchase Bitcoin or Ethereum, using USD or EUR.
Send the purchased cryptocurrency to the address of the exchange you decide to use in the next step.
Step 2: Moving Bitcoin or Ethereum to Binance
After aquiring Bitcoin/Ethereum, you will need to move it to the cryptocurrency exchange Binance.
Most cryptocurrency exchanges only allow cryptocurrency to be purchased with Bitcoin or Ethereum. That is why we need to convert our money to cryptocurrency, and then send the purchased cryptocurrency to an exchange where our coin is sold.
In order to send your newly purchased crypto to Binance, you will need locate your Binance deposit address.
This can be found on Binance by going to the navigation bar, mousing over “Funds” and clicking Deposit Withdrawals. This page has the deposit addresses for every coin on their exchange.
Locate Bitcoin or Ethereum, depending on what you purchased and copy the address.
Now that we have our deposit address, we will need to send it from Coinbase. Click the send tab as seen below, and enter it into the recipient box. Click confirm and wait for your currency to arrive to Binance!
Step 3: Buy some Lisk!
After sending your bitcoin to Bittrex, you will want to go to the BTC/Lisk trading page and enter a ratio you are comfortable with. You can look at the orderbook and see the going rates. After your order is processed, you now hold Lisk!
How to Buy Lisk with Changelly
Step 1: Create an account on Changelly. They have a relatively easy signup process and allow the use of Google, Twitter or Facebook for faster signups.
Step 2: After creating an account, you will want to go to the main page as seen here, and use the conversion box. In this example, we are going to buy Lisk with USD!
How to Buy Lisk with PayPal
Due to Paypal’s chargeback feature, buying Lisk with Paypal takes a few extra steps. The exchange VirWoX allows you to convert paypal balance into Bitcoin. Read our tutorial on this conversion. Once you have obtained Bitcoin, you can send it to Bittrex just like the above example!
Can I Buy Lisk on Coinbase?
At the time of this writing, Coinbase does not sell Lisk. There have been several rumors however, and many think that in early 2018 we will see several new coins, including Lisk, added to Coinbase. If you are interested in buying Lisk, just follow the steps above! You can trade Bitcoin’s for Lisk on Binance. If you don’t own any Bitcoin, use Coinbase!
Step 4: How to Store your Lisk, Securely!
For Lisk, I reccomend the offical Lisk Wallet. Below will be a tutorial on how to use the wallet!
Start off by downloading the correct wallet for your operating system. This guide will show how to install the wallet on Mac.
Drag the wallet into your applications, and launch it. Create a new account if you do not already have one. After clicking create, you will be asked to move your mouse randomly, to generate a private key and pass phrase. Save your passphrase somewhere safe, and create a backup on a USB or other storage device.
After clicking “Yes it’s safe” you will be asked to enter the missing word. This is to prove that you saved it responsibly. The Lisk Wallet interface is very clear. There are send and receieve tabs, and a section for voting. If you plan on storing Lisk for the long term, I highly reccomend voting. Voting allows you to forge and receive FREE Lisk. Read more about Lisk forging here.
What is the Total Supply of Lisk?
There are currently 116,260,112 LSK.