How to buy Lido DAO (LDO) in the UK
Learn how to buy Lido DAO (LDO) in our step-by-step guide.
You can buy Lido DAO (LDO) on a cryptocurrency exchange like Uphold. These specialised marketplaces that allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. Lido is a DeFi platform that allows users to earn staking rewards on ETH without losing access to the value of the staked Ether. Here's how to buy Lido DAO.
How to buy Lido DAO in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
- Compare crypto exchangesThe 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.
- 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.
- Make a depositOnce verified, you can deposit £ using the payment method that best suits you – credit card, debit card and wire transfer payments are widely accepted.
- Buy Lido DAO You can now exchange your funds for Lido DAO. On easier-to-use exchanges, this is as simple 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 in the UK
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.
How do I find the best places to buy Lido DAO?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in the UK to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Lido DAO?
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 Lido DAO.
- 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 LDO 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.
What is the easiest way to buy Lido DAO?
The easiest way to buy LDO 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.
Before buying LDO, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of Lido DAO has been performing recently.
Best Lido DAO wallets to store your LDO
You can keep your LDO 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 learn more about wallets and compare them with our comprehensive guide.
Recent Lido DAO developments
Is Lido DAO a good investment?Investing 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.
Additional information about Lido DAO can be found using our LDO analysis tools.
Today's Lido DAO price versus ATH
Compare today's price of Lido DAO ($0.64059 USD) against its all-time-high price of $7.3 USD on 20 August 2021. The closer the bar is to 100%, the closer LDO is to reaching its ATH again.
ATH date: August 20, 2021
Lido DAO ATH: $7.3
How to trade, convert or sell Lido DAOYou can convert or sell 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 convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of LDO you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Lido DAO.
- Complete your transaction and move your LDO to a wallet for storage.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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