Where and How to Buy LISK (LSK) | Step-by-Step Guide

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How to Buy Lisk

Lisk (LSK) is primarily listed on “cryptocurrency only exchanges”. This means your best option is to trade Bitcoin or Ethereum on one of these exchanges for Lisk. In this guide, we’ll show you exactly how to buy Lisk using other cryptocurrencies.

Use these links to jump to our step-by-step guides for:

You can learn how to buy Bitcoin and buy Ethereum here.

Lisk Cryptocurrency Exchanges

Before diving into our step-by-step guide, you can check out the table below for more information on the cryptocurrency exchanges we’ll be covering.

ExchangeTrading FeesWithdrawal LimitsReviewVisit

Binance

0.1%2 BTC equivalent / 24 hours w/ no verification

100 BTC equivalent / 24 hours w/ "Level 2" Verifcation

Binance Review

Visit Binance

bittrex altcoin exchange logo SMALL

Bittrex

0.25%.04 BTC equivalent / 24 hours w/ "Basic" verification

100 BTC equivalent / 24 hours w/ "Enhanced" Verification

Bittrex Review

Visit Bittrex

Binance is our top choice of exchange that offers trading for LSK. Of all the options available, Binance offers the easiest account creation and verification process. Binance only requires users to provide an email address for 2 BTC equivalent daily withdrawal limits, while other sites require more personal information.

Below you can see the exact process from signing up to buying Lisk.

Learn more about this exchange in our Binance Review.

1) Create Your Binance Account

The first step is to sign up for a Binance account. Registration is simple, only requiring an email address and to create a password.

Binance Sign up Register

Once you've submitted the registration form, you'll need to verify your email address. This is simply done by clicking the link Binance has emailed you.

Binance Email Sent Sign Up Confirmation

2) Secure Your Binance Account

Upon logging into your account for the first time, you'll likely be prompted to enable 2-Factor Authentication (2FA). While this is not required, it's highly recommended.

Binance 2FA Prompt

2FA helps to secure your account by requiring an additional passcode when login attempts are made. Binance offers 2FA through the Google Authenticator App and SMS text messaging. We recommend using Google Authenticator, as SMS 2FA has known security vulnerabilities.

Once you select Google Authenticator, Binance will show you step-by-step how to set it up.

Binance Google Authenticator Set Up

You can also set up 2FA at any time from your "Account" page.

Binance Account Page

From your "Account" page, you'll also be able to submit verification documents, should you need higher withdrawal limits than the default 2 BTC equivalent per 24 hours.

3) Deposit Bitcoin or Ethereum to Binance

Locate the "Deposits" page, under "Funds" in the main menu. Here you can search for the cryptocurrency you want to deposit. We recommend Ethereum over Bitcoin, as it's faster and has lower network fees (fees from their respective networks, not Binance).

In this example, we'll be depositing 1 ETH.

Binance Deposit Ethereum Step 1

Once you've selected the cryptocurrency you want to deposit (in our case Ethereum), Binance will give you an address where you can send your deposit.

Binance Deposit Ethereum Step 2

After you've sent funds to the given address from your cryptocurrency wallet, your deposit will soon show up as pending while it completes the required number of block confirmations. For our ETH deposit, it took about 5 minutes for our deposit to be completed. Other cryptocurrencies like Bitcoin, that have longer block confirmation times, will take longer to deposit.

Binance Pending ETH Deposit New

Step 4) Buy Lisk (LSK) With Bitcoin or Ethereum on Binance

After your deposit has been processed, you’re ready to buy Lisk on Binance.

Locate the exchange in the upper left-hand corner of the menu (1). There are two views for the exchange, “Basic” and “Advanced”. We recommend using the basic view and that’s the option shown below.

Binance Buy Lisk LSK

Next find your trading pair (2). In this example we’re looking to trade Ethereum for Lisk, so we find the LSK/ETH trading pair.

Use the “Buy LSK” order form to make your purchase. You can place a market or limit buy order (3). For the sake of simplicity, we’ve chosen to place a market order. Market orders simply require you to enter the amount of LSK you want to purchase, and the exchange will automatically buy that amount at the best possible price.

After completing your order, your purchased Lisk will be available in your account’s LSK wallet. Keep in mind that Binance charges a 0.1% fee to trade. In this example, the 0.1% (or 0.005 LSK) was charged for the order. This leaves the account with 4.995 LSK.

Binance Lisk LSK Balance and Withdrawal

You can withdraw your Lisk by clicking on the “Withdrawal” button.

Buy Lisk on Binance

Bittrex is another great exchange for those of you wanting to buy Lisk with other cryptocurrency. Keep in mind, Bittrex requires more personal information to make withdrawals and has lower initial limits.

Bittrex requires your name, address, and birthdate for “basic verification”, which will allow you to withdraw the equivalent of 0.4 BTC per day.

Below you can see the exact process for buying Lisk on Bittrex.

Step 1) Create a Bittrex Account

Initially you will only need to provide your email address and create a password to make a Bittrex account. Like with Binance, you’ll be sent an email from Bittrex to verify your email address.

Bittrex Sign Up

Step 2) Verify Your Bittrex Account and Improve Security

Assuming you ever want to withdraw from Bittrex (Of Course You Do!), you’ll want to begin the verification process immediately. Locate the “Basic Verification” form in the settings section of your Bittrex account.

Bittrex Basic Verification

After filling out and submitting this form, your information will be checked against public records. This process is done automatically and should be very quick. If they’re able to verify your information, you’ll be able to withdrawal the equivalent of 0.4 BTC per day.

You can further increase your limits to 100 BTC per day by following the enhanced verification process. This requires submitting identification documents.

You should also enable 2FA, which can also be found under your account settings.

Bittrex 2FA

Step 3) Deposit Cryptocurrency onto Bittrex

On Bittrex, Lisk can currently only be traded for Bitcoin. To deposit Bitcoin or other cryptocurrencies to Bittrex, locate the “Wallets” page of your account.

Next, use the search bar to find the cryptocurrency you wish to deposit.

Once you’ve found the cryptocurrency you want to deposit, click on the “+” icon next to that cryptocurrency. Send the specified cryptocurrency to the address given.

Bittrex Deposit

Step 4) Buy Lisk (LSK) With Bitcoin on Bittrex

All Bittrex markets can be located by clicking the Bittrex logo in the upper left-hand corner of your account.

Enter “LSK” in the search bar for “Bitcoin Markets”, then click “BTC-LSK”.

Bittrex Lisk LSK Markets

Bittrex does not offer market orders, so you’ll need to place limit order. This means you’ll need to choose both the amount of Lisk you want to buy and the price per Lisk you’re willing to pay. This can be done through the “Buy LSK” order form.

In the “Order Book”, you can see what prices other buyers (BIDS) are offering and what price sellers (ASKS) are asking for.

Bittrex Buy Lisk LSK

After you’ve completed your purchase, your Lisk will be available in your LSK wallet. Bittrex charges a 0.25% fee, but this is taken from your Bitcoin balance (unlike Binance where it’s taken out of the Lisk you receive).

Bittrex Lisk LSK Balance

Buy Lisk on Bittrex

The Unhashed Team is dedicated to teaching the world how to safely get involved in cryptocurrency.

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