How to Buy Lisk with Credit or Debit Card
There are two options to buy Lisk with a credit or debit card. First is to convert currency into Bitcoin, then convert Bitcoin into Lisk. This can be done on the exhchange Binance.
Alternatively, you can use Changelly which is faster, but the fees are higher. If timing is an issue, it is better to use Changelly.
How to Buy Lisk with Bank Transfer
There are two ways to buy Lisk with a bank transfer or wire. See our tutorial below for instructions on each method.
Method 1 - USD/EUR -> BTC -> Lisk
Step 1: Buy Bitcoin
Coinbase is a very beginner friendly US based exchange, that sells cryptocurrency to most countries and all US states. To see if Coinbase supports your country, check this link! Coinmama handles credit or debit card purchases. Coinmama is great because they have higher credit or debit card purchasing limits than Coinbase, as well as fast delivery of your funds. Bitpanda. Bitpanda is an exchange that processes credit or debit card purchases. Their fees are slightly lower, but ONLY sells Bitcoin to residents of European Union (EU) countries.
Coinbase is the most beginner friendly while Coinmama is great for credit or debit transactions as it has higher purchase limits and quick delivery. BitPanda is great (but it only works in Europe) and has a 5% fee on credit or debit purchases. We will use Coinbase in this example. Also, if you purchase over $100 of Bitcoin through the following link, you will receive an extra $10 BTC for FREE! Create an account on Coinbase if you don’t have one already and then add your payment method.
After creating your Coinbase account, you need to add a payment method. If you are going for the route with the lowest fees, it is best to use a bank transfer. If timing is more important, use a credit or debit card, as this is much faster!
The Coinbase signup process takes time, but this is to ensure security. Click the Buy/Sell tab on the top/middle of your screen. From this page, you can easily purchase Bitcoin, Litecoin, or Ethereum. All of these cryptocurrencies can be converted into Lisk on exchanges such as Binance, but for this tutorial we will use Bitcoin.
Fiat to Bitcoin Exchanges
|Coinbase||USA||1.49% - Bank|
|Coinmama||Mostly Everywhere||5.5% Credit/Debit|
|Bitpanda||Europe ONLY||5% - Credit/Debit|
After hitting Confirm Buy, you are finished with this step! Next will be transferring the Bitcoin to a Lisk exchange. Also, at this point, we strongly suggest setting up two-factor authentication (2FA) on all exchanges. Two factor authentication combines two different verification methods to ensure the real user is trying to access the account.
Bitcoin to Lisk Exchanges
Step 2: Transfer your Bitcoin
Once you have Bitcoin, you will need to move it to an exchange that has BTC/ADX pairs. Binance is hugely popular due to its intuitive interface and solid customer support. Click the send button on Coinbase as seen in red highlight in the picture below. You will be asked for the recipient’s wallet address. Enter your Binance Bitcoin address, which you can find by going to the “Funds” tab on the Binance navigation bar, then clicking “Balances”. Once on this screen, you will see a list of coins. Scroll down to Bitcoin, and hit the “Deposit” button. Copy the address that appears and paste into Coinbase. Click send on Coinbase, and wait about 30 minutes for your BTC to arrive.
Step 3: Buy Lisk
After you send bitcoin to Binance, go to the BTC/Lisk trading page and enter a price with which you are comfortable. You can look at the order book to get a sense of the current rates. After your order is processed, you will see it in your Lisk wallet balance in Binance!
Method 2 - Changelly
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 logins to make the sign-up seamless.
Step 2: Upon creating an account, go to the main page as seen here, and use the conversion box to initiate an exchange. 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 an extra step. The exchange VirWoX allows you to convert paypal balance into Bitcoin. Read our tutorial on this conversion. Once you have Bitcoin, you can send it to Binance just like the example above.
Can I Buy Lisk on Coinbase?
Coinbase does not currently sell or trade Lisk. If you want to buy Lisk, please follow the above steps. You can trade Bitcoin for Lisk on Binance. If you don’t yet have any Bitcoin, use Coinbase to get started!
Step 4: How to securely store Lisk
The offical Lisk Wallet is the best place to start.
First, download the correct wallet for your operating system. In this example, we will download the wallet on Mac.
Just like other Mac programs, drag the wallet into the applications folder and double click to launch. If you do not have an account already, you will need to create a new one. After clicking create, you will be asked to create random data by moving your mouse around, which will generate a private key and passphrase. Keep your pass phrase somewhere safe, preferably not on your computer. Also, it is a good idea to create a backup on a USB drive or other storage device. After clicking “Yes it’s safe” the program will ask you to enter the missing word. This question is asked to prove that you saved and can retrieve the passphrase.
The Lisk Wallet interface is intuitive: there are send and receive buttons and a section for voting. You should learn about voting if you plan to store Lisk for the long term. Voting allows you to “forge” and receive Lisk for FREE! Learn more about Lisk forging here.
What is the Total Supply of Lisk?
There are currently approximately 116,200,000 LSK.