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How to buy Lido DAO (LDO)
Learn how to buy Lido DAO (LDO) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
How to buy Lido DAO
1. Compare crypto exchanges
The easiest way to buy Lido DAO is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
2. Create an account
To create an account on an exchange you will need to verify your email address and identity. Have some photo ID and your phone ready.
3. Make a deposit
Once verified, you can deposit $ using the payment method that best suits you – alipay, bank transfer, cash and neteller payments are all widely accepted.
4. Buy Lido DAO
You can now exchange your funds for Lido DAO. On easier-to-use exchanges, this is as easy as entering the amount you want to purchase and clicking buy. If you like you can now withdraw your Lido DAO to your personal wallet.
Where to buy Lido DAO
Find an exchange to buy, sell and trade LDO by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Steps on how to buy Lido DAO
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Lido DAO.
- Compare cryptocurrency exchanges that supports LDO.
Cryptocurrency exchanges differ by fees, security and payment methods, so you'll need to research which is the right fit for you. As a beginner, you don't need a big range of features, and you can always change exchanges later.
- Create an account on an exchange.
You can sign up for an account by selecting the Go to site button. This will take you to the account creation page, where you can fill in your details, starting with your name and email address..
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Lido DAO.
- Buy Lido DAO.
Complete your Lido DAO purchase and then find the best wallet to store LDO.
What to consider when buying Lido DAOInvesting in cryptocurrency is a risky exercise and it is recommended you research the coin that you're interested in to make sure you understand the benefits and risks involved. Here are some of the key features of LDO you should understand before buying it:
- Distribution. While there are 1 billion LDO tokens, two-thirds of tokens are currently locked with Lido DAO founding members. After 1 year the tokens held by Lido DAO founding members will be vested over the next year. As of January 2021, only 0.4% of LDO are unlocked.
- Major backers. In December 2020 European digital asset investment company KR1 invested $US0.15 million in Lido in exchange for LDO tokens.
- stETH vs LDO. According to the Lido website Lido has two tokens: stETH token which is a proxy for Ethereum and LDO which is the governance token. Think of stETH token as the liquid alternative for staked Ether, as it can be transferred and traded freely. stETH has the same value as the Ethers that are staked on Lido. LDO, on the other hand, gives users voting rights in Lido.
How to sell Lido DAO
You can cash out your LDO with the same exchange you bought it through:
- Sign in to the exchange you have LDO on.
If you store your Lido DAO in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of LDO you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Lido DAO.
Disclaimer: Cryptocurrencies, including Lido DAO, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of LDO is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Lido DAO or any other cryptocurrency discussed.
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