How to buy Lido Staked Ether (STETH) in the UK

Learn how to buy Lido Staked Ether (STETH) in our step-by-step guide.

Where to buy Lido Staked Ether in the UK

It looks like STETH may not be available to purchase on an exchange in the UK.

You can still purchase STETH by using a decentralised exchange (DEX) instead. Decentralised exchanges are web applications that run on blockchains like Ethereum and allow users to trade any asset directly with one another.

Decentralised exchanges (DEX) are unregulated and run using autonomous pieces of code known as smart contracts. To use a DEX you must interact with the blockchain directly, which is not recommended for novice users. Please learn about decentralised exchanges first if you're unfamiliar.

How to purchase STETH using a decentralised exchange.
  1. Find STETH on a decentralised exchange and make sure Lido Staked Ether can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
  2. Buy ETH to trade for STETH using an exchange like CoinJar. You will need to purchase enough ETH to swap for STETH as well as ETH to pay for transaction fees on the Ethereum network (known as gas). You can use a service like Etherscan to get an idea of how much gas fees currently cost.
  3. Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
  4. Trade ETH for STETH on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
  5. Wait for the transaction to finalise and the STETH tokens will arrive in your wallet.
  6. You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet.

You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in the UK.

Best Lido Staked Ether wallets to store your STETH

You can keep your STETH 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.
Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply.

Is Lido Staked Ether a good investment?

Ethereum’s upgrade is one of the biggest developments in crypto, and its transition to proof-of-stake is a clear demonstration of where the future of the space lies. However, there are a number of factors that should be considered before purchasing stETH:
  • Purpose. All stETH in circulation is created by people using Lido to stake their original ETH. Buying stETH instead of ETH means you won't have access to the rewards from staking. The main purpose of stETH is to allow ETH owners to get more flexibility out of their staked ETH.
  • Fees. Commissions are high for delegation of tokens for staking – Lido pockets a cool 20% of your returns.
  • Use case of tokens. These coins are not actually ETH, so can’t be used to pay gas fees and your staking rewards are in stETH, not ETH. Returns from staking could balance this out, but this will be a risk factor for some users. Tokens can only be used in DeFi apps that accept stETH.
  • Risk. It is always worth considering the risk that the ETH 2.0 project fails or is delayed in some way.

Additional information about Lido Staked Ether can be found using our STETH analysis tools.

Today's Lido Staked Ether price versus ATH

Compare today's price of Lido Staked Ether ($1047.24 USD) against its all-time-high price of $4829.57 USD on 10 November 2021. The closer the bar is to 100%, the closer STETH is to reaching its ATH again.

Lido Staked Ether's price: $1047.24
ATH date: November 10, 2021
21.68%

Lido Staked Ether ATH: $4829.57


How to trade, convert or sell Lido Staked Ether

You can convert or sell your STETH with the same exchange you bought it through:
  1. Sign in to the exchange you have STETH on.
  2. If you store your Lido Staked Ether 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 STETH you'd like to convert or sell.
  5. Confirm the sell price and fees and close your sale of Lido Staked Ether.
  6. Complete your transaction and move your STETH to a wallet for storage.

Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.

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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