Buying Lisk in 8 simple steps

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So, you are interested in buying the new crypto currency Lisk! Buying Lisk is pretty simple and you don’t have to be a computerexpert to buy Lisk.

Beneath are 8 simple staps, when following these you’ll have a wallet filled with the crypto currency Lisk.

Buying Lisk, a simple manual:

TL;DR: You have to start an account at Coinbase where you’ll deposit funds. With these funds you have to buy Bitcoins. The next step is beginning an account at Poloniex where you will send the purchased Bitcoins. With your Poloniex account, loaded with Bitcoins, you can buy Lisk. And that’s how simple it is to buy Lisk!

 

Step 1: Create an account at Coinbase

Create an account at Coinbase. This is one of the biggest marketplaces involving Bitcoin. Coinbase enables you to easily buy and sell Bitcoins.

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Step 2: Complete your account with your personal data

After you are logged in, click on: Buy/Sell Bitcoins on the left. Now you have to add some personal data including your telephone number, your address and something to identify yourself. Your telephone number will be used for two-way verification. Each time you want to log in you’ll be send a SMS with a code. This is a very safe way to prevent your account being hacked.

Step 3: Adding funds to Coinbase

After you added the necessary data you’ll have to add some regular money to your account. There are a few options regarding to payment. You can use your credit card, or you can transfer by wire (altough this will take a few days to complete). Depending which country you are from there may be other payment methods. Choose a payment method which suits you and add funds to Coinbase to purchase Bitcoins!

 

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Step 4: Buying Bitcoins

After you’ve added funds to your account you will be able to purchase Bitcoins via Coinbase. Coinbase uses the current Bitcoin exchange rate which you can see in the right upper corner in your account screen.

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Now you have to click on Buy/Sell Bitcoin in the left top corner. Fill out the necessary fields. Depending on how much funds you enter you’ll see the amount of Bitcoin it is worth at the moment.

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After the click on the “Buy Bitcoin Instantly” and you’ll receive the Bitcoin almost immediately.

Now click on Send/Request in the menu on the left and keep this page open. The next step is making an account at another Bitcoin marketplace. Unfortunaly you can’t buy euros or dollars on this marketplace, that’s why we’ve used Coinbase to purchase Bitcoin.

Step 5: Making an account at Poloniex

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Go to Poloniex and click on “Create your account”. Fillout the necessary data. After that you’ll receive an email to activate your account. Click on the link in the email and voila, your account is activated.

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Now we are going to transfter the Bitcoin from Coinbase to Poloniex. This is necessary to buy Lisk.

Step 6: Get your own Bitcoin address at Poloniex

Poloniex may look a bit overwhelming at first glance. Don’t worry, we will teach you the basics.

To get your Bitcoins from Coinbase to Poloniex you’ll have to get your Bitcoin address at Poloniex. This is quite easy actually. In the top right corner click on “Balances”. After that, click on “Deposits & Withdraws”.

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You’ll see a list of all Crypto currencies. On this page you can deposit of withdraw your crypto currencies. Search for Bitcoin. And click on the right one because there are others like BitcoinDrak and BitcoinPlus which we won’t use during this tutorial.

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Maybe you’ll get the alert “Got it, show me the Bitcoin address”. Click on this and you’ll see your very own Poloniex Bitcoin address!

 

sc9A Bitcoin address is made up from 34 chars. This is a mix of numbers and lower/uppercase letters.

Select and copy this address.

Step 7: Transfer your Bitcoins from Coinbase to Poloniex

Go back to your Coinbase account and go to the “Send/Request” page. Paste your Poloniex Bitcoin address at the “Recipient” field. Type in the amount of Bitcoin you have at Coinbase (you can see this at the “BTC Wallet” field on the left) in the “Amount” field.

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You can fill in the “Note” field to keep track of your transactions. If everything is ready click on “Send Funds”. Afer this, comfirm it by clicking on.. “Confirm” 🙂

 

BTC Wallet

Because the Bitcoin network has all kinds of checks and verifications to keep it safe it can take a while before you’ll see the Bitcoins appearing in your Poloniex account. You can check this at the same page you got your Bitcoin address at the “Total Balance” field.

 

Bitcoin

Step 8: Buying Lisk at Poloniex.

 

Okay, we are nearly finished! We are going to buy Lisk at Poloniex!

BTC = Bitcoin

LSK = Lisk

 

Click on “Exchange” in the left top corner. After that, select “BTC:LSK”. This will show you the current exchange rate regarding Bitcoin and Lisk.

Poloniex Exchange

After you’ve selected LSK/BTC click in on “BUY LSK” in the left down corner.

Buying Lisk

You’ll see the following things:

Price = he current exchange rate regarding Bitcoin and Lisk

Amount = How much you Lisk you can/want to buy

Total = The amount of Bitcoin you’ll have to pay.

When you click on “You have 0.xxxxx BTC” the site will automaticly show you how much Lisk you can buy. Because the exchange rate fluctuates it can be possible you want to buy Lisk at a lower Bitcoin amount. Fill in the BTC field to see how much LSK you can get.

After you click on “Buy” you’re order is placed. Because you are bidding it can take some time before your bid is accepted. You’ll something like below:

Lisk exchange

Looking at the table “Sell LSK” you can see if your bid is complete and how many LSK you currently own. This is ofcourse also the place where you can sell your LSK for Bitcoin.
Then you can transfer your Bitcoin back to Coinbase. There you can sell your Bitcoin for euros or dollars.

Congratulations! You’ve bought Lisk in 8 simple steps!