How to buy and store your Lisk coins in Lisk (LSK) wallet

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Lisk (LSK) cryptocurrency has been in the market for almost two years, having been released in 2016. It is gaining a lot of popularity, especially due to the fact that its blockchain is based on the Ethereum technology. Every investor wishing to use Lisk coins, have to understand how to use the Lisk (LSK) wallet.

Lisk incorporates Software Development Kit (SDK), a JavaScript framework enabling developers to develop apps that are compatible with the Lisk blockchain. With the SDK, developers have access to some of the best user friendly app developing tools. With this, the developers can develop games, shopping applications as well as any other kind of apps on the Lisk ecosystem.

With the JavaScript framework, Lisk network is a step ahead of even Ethereum. In most of the cryptocurrencies’ networks, developers are first forced to learn the new code for them to develop any app on the crypto’s network.

Investors eyeing to own Lisk (LSK) coins have to get a way of acquiring the Lisk token, the LSK. The best way of doing this is buying a more popular crypto coin like Bitcoin or Ethereum and exchange it for LSK latter.

So, as an investor, you will have to look for an exchange offering bitcoin or Ethereum. When choosing the exchange you have to consider an exchange that will also be able to accommodate LSK tokens. An example of such exchanges include exchanges where you can buy Lisk: Binance, Yuanbao, Poloniex, BitSquare, Jubi, Bittrex, Shapeshift, HitBTC, BitBay, BitBays, YoBit, Livecoin, Bloombit, Touzibi, OpenLedger, Changelly and BitMEX.

After buying the Bitcoin or Ethereum using Fiat currency via PayPal, credit card or debit card, you should then proceed and exchange the Ethereum or Bitcoin for Lisk coins.

You can choose to store the Lisk coins in the original exchange (where they have been obtained after exchanging the Bitcoin or Ethereum) or you can opt to transfer them into a Lisk wallet. Storing your Lisk coin on the exchanges is not secure, especially since they are online stores very prone to online scams and hacks.

The best place to hold your Lisk coins is in the Lisk (LSK) wallet. It is available for Windows, Linux and Mac operating systems. There is also a web Lisk wallet as well, although not very popular among investors.

For you to access the services of the Lisk (LSK) wallet, you will have to follow the following steps to install the wallet:

  1. Download the Lisk wallet from the official Lisk website.
  2. Install the Lisk wallet on the device you are using.
  3. Open the installed wallet and create a Lisk account.
  4. Obtain a secret passphrase, store it safely and verify it.
  5. Then you can now send and receive Lisk (LSK) coins from and into your Lisk (LSK) wallet respectively.

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