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How to buy Liquity (LQTY)

Learn how to buy Liquity (LQTY) in our step-by-step guide.

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What will I need to buy Liquity?

To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.

An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Liquity.

  • This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
  • Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing LQTY with your local currency then you will need to pass KYC.
  • Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
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What are the best ways to buy Liquity?

Once you've created an account, you will need to deposit funds to buy LQTY with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to to buy LQTY:

  • Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
  • Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
  • Cryptocurrency: You can usually purchase LQTY by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for LQTY on the spot market to see what cryptocurrencies it can be traded for.
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What is the easiest way to buy Liquity?

The easiest way to buy LQTY is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.

Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.

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Best Liquity wallets to store your LQTY

You can keep your LQTY on the exchange you purchased it on, or move it to a personal wallet:

  • Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
  • Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your LQTY below.
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Trezor Model T Wallet
★★★★★ 4

Price (USD)
$219
Supported assets
1,456+
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Ledger Nano X Wallet
★★★★★ 4.6

Price (USD)
$149
Supported assets
5,500+
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SafePal S1 Wallet
★★★★★ 4

Price (USD)
$49.99
Supported assets
30,000+
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Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.

Is Liquity a good investment?

Buying cryptocurrency can be a risky endeavor, but there are precautions you can take to help mitigate risk. In the case of LQTY, here are some things worth considering:

  • Frontend: Interestingly, the Liquity developers do not operate a frontend for accessing the protocol. Instead, third-party services are in charge of integrating, deploying and hosting the application. These operators are rewarded with a proportion of LQTY tokens generated.
  • Stability pool: As a lending platform, Liquity has measures in place to prevent substantial economic damages and ensuring solvency. One of these key strategies is a stability pool, which is used to back the LUSD stablecoin. To achieve this, Liquity has an incentive program for Stability Providers, where they deposit their LUSD in exchange for a pro-rata share of liquidated collateral. Collateral is typically liquidated whenever the ratio from a specific borrower drops under the minimum 110%.
  • Token use-case: LQTY can be earned in three ways - by contributing to the stability pool, creating a frontend to host the Liquity infrastructure, or by participating in Uniswap's LUSD liquidity pool. LQTY can then be staked for additional income, which comes in the form of fees from issuing loans.
  • Competition: Liquity is a unique protocol that lets users borrow a stablecoin interest-free, with a relatively low minimum collateral. However, it is far from the only decentralized lending protocol out there, and its point of difference may not be enough to drive adoption. Platforms such as Aave, Curve and Kava all provide relatively similar services with already-established userbases.
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    Today's Liquity price versus ATH

    Compare today's price of Liquity ($1.53 USD) against its all-time high (ATH) price of $146.94 on April 05, 2021. The closer the bar is to 100%, the closer LQTY is to reaching its ATH again.

    Current price: $1.53
    All time high: $146.94
    1%
    98%

    How do I trade, convert or sell Liquity?

    You can convert or sell your LQTY with the same exchange you bought it through:
    1. Sign in to the exchange you have LQTY on.
    2. If you store your Liquity in a digital wallet, compare crypto exchanges to convert or sell it on.
    3. Choose Sell or Convert and place a sell order.
    4. Choose the amount of LQTY you'd like to convert or sell.
    5. Confirm the sell price and fees and close your sale of Liquity.
    6. Complete your transaction and move your LQTY to a wallet for storage.
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    How to buy other cryptos


    Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance 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 cryptocurrencies discussed.

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