Lido Staked Ether is a liquid staking resolution for Ethereum backed by various top-tier service providers. Liquid staking is a replacement for locking up a user’s stake. With Lido, you can stake any quantity of Ethereum (ETH) through its DAO-regulated smart contracts. 

When users stake their Ethereum with Lido, they get a staked balance—Lido Staked Ether. You can use the token for lending, collateral and more, making it highly valuable in the marketplace. Additionally, doing all of this doesn’t stop you from earning daily staking rewards.

If you’re looking to learn how to buy Lido Staked Ether, here you go. 

How to Buy Lido Staked Ether—Quickfire Walkthrough to Buy Lido Staked Ether Network Token in less than 10 Minutes

Lido Staked Ether is available for purchase on many growing decentralized exchanges like Uniswap, Suchiswap and Pancakeswap. Pancakeswap is one of the leading DEX’s with a great outlook and optimum security. It is the most suitable to get Lido Staked Ether because it makes the process convenient and straightforward. 

Buying Lido Staked Ether should not take you more than 10 minutes. The steps below show you how to buy Lido Staked Ether right now.            

  • Step 1: Get Trust Wallet: For you to use Pancakeswap efficiently, you need a crypto wallet. Trust Wallet is the most satisfactory to use due to the great convenience it offers. To download on your device, you can either use Google Playstore or iOS.
  • Step 2: Search Lido Staked Ether: After downloading, open and search for ‘Lido Staked Ether.’
  • Step 3: Deposit Funds Into Wallet: You can either purchase cryptocurrency using your debit/credit card or transfer digital tokens from a different wallet. 
  • Step 4: Connect to Pancakeswap: Click on ‘DApps.’ You will see this below the Trust Wallet app.  Click and select ‘Pancakeswap”. Next, click the ‘Connect’ button. 
  • Step 5: Buy Lido Staked Ether: After connecting Pancakeswap to your Trust Wallet, click the ‘Exchange’ button. A drop-down icon will appear below the ‘From’ tab. The next thing you have to do is choose the cryptocurrency you want to swap for Lido Staked Ether. Under the ‘To’ tab, you will see another drop-down icon—that is where you will choose Lido Staked Ether (stETH). 

Type in the amount of tokens you want to purchase and click the ‘Swap’ button to complete the process. 

After you have completed the transaction, the Lido Staked Ether will show in your wallet. It will remain secured in your wallet until you are ready to withdraw your tokens.

Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile. 

How to Buy Lido Staked Ether—Full Step-by-Step Walkthrough

Understandably, the quick guide above may seem a bit confusing. If that’s the case, we have provided a more in-depth section here to help you through. When you follow these steps closely, you are on your way to becoming a pro in buying Lido Staked Ether!

Here’s how it goes.

Step 1: Download Trust Wallet

As you have learned in the quickfire walkthrough, you need a decentralized exchange platform like Pancakeswap to access Lido Staked Ether. Likewise, a crypto wallet is needed to access Pancakeswap, and the best to use is Trust.

Trust Wallet is fit for both new users and pros. Additionally, it has the backing of the largest cryptocurrency exchange in the world—Binance.

To get started:                 

  • Download Trust Wallet via Google Playstore or iOS on your mobile device.
  • After installing the app, the next thing to do is open and create your login credentials.
  • Your login process will include creating your PIN and noting down a 12-word passphrase. This passphrase is essential to recover your account if you forget your login details or misplace your phone.

Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile. 

Step 2: Deposit Funds into your Account

Once you have performed the Trust Wallet setup process, you will have to deposit funds to initiate any transaction. You can deposit in one of the following ways:

Transfer Digital Assets from Another Wallet

One major thing you need for this process is to have digital assets in an external wallet. Below are the steps to follow:

  • Open the Trust Wallet app and click on ‘Receive.’
  • Pick the digital asset you want to send to the Trust Wallet. 
  • You will be sent a unique wallet address to accept the cryptocurrency you chose. 
  • Copy and paste the address into the external wallet where you have the cryptocurrency. 
  • Type in the amount of tokens you want to transfer. 
  • Confirm the transaction. 

On confirming, the tokens will be sent to your Trust Wallet within 20 minutes. 

Buy Crypto with Your Debit/Credit Card

The second way to deposit funds in your account is to buy crypto with your debit/credit card. This is an alternative if you do not have any cryptocurrency in an external wallet. 

The good news is that Trust Wallet allows you to use a debit/credit card to initiate the purchase. Below are the steps: 

  • Locate the ‘Buy’ button at the top of the Trust Wallet app. Click on it. 
  • This will direct you to a page where you will see the list of tokens you can get using your debit/credit card. 
  • You can purchase any coin of your choice. However, it is best to buy Binance Coin (BNB) or other options like Bitcoin and Ethereum. 
  • You will need to complete a Know Your Customer (KYC) process, since you’re using fiat.
  • The KYC process requires you to enter some personal details and upload an ID issued by the government like a passport or driver’s license. 
  • Once the transaction has been processed, the crypto will drop in your account immediately.

Step 3: Buy Lido Staked Ether through Pancakeswap

After securing the digital assets in your Trust Wallet, you can proceed to visit Pancakeswap and buy Lido Staked Ether using a direct swap process. A direct swap process enables you to exchange one digital asset for another without using fiat money.

 Here is a guide to show you how to perform a direct swap process.

  • Click on the ‘DEX’ button and select ‘Swap’ on Trust Wallet.
  • After that, you will see the ‘You Pay’ tab, where you are to pick the digital asset you want to pay with. 
  • Enter the number of tokens. 
  • Note that the cryptocurrency you are to pick is the one you purchased in Step 2. 
  • Select ‘Lido Staked Ether’ from the ‘You Get’ tab. 

You will receive Lido Staked Ether equal to the tokens with which you paid. Continue the process by clicking the ‘Swap’ button. 

It is that easy! You have successfully purchased your Lido Staked Ether using Pancakeswap. 

Step 4: Sell Lido Staked Ether

Once you have bought Lido Staked Ether, you might begin to ask yourself, “what is the next step to take?” This is a common question among many enthusiasts. 

Well, you most definitely will not let your Lido Staked Ether stay in your wallet forever. A point where you will have to trade will arrive, and your plan will be based on your end goal with the coin. Your goals could be:

  • To exchange Lido Staked Ether to a different cryptocurrency, or
  • To trade and earn fiat money in return. 

If you want to change your tokens into another crypto, you can do so using Pancakeswap. However, to sell into fiat money, you will have to use a third-party exchange, which will require you to complete the KYC process. By implication, you will upload some personal details and upload a government-issued ID.  

Where to Buy Lido Staked Ether Online

Even though the circulating supply of Lido Staked Ether (stETH) is not up to one million tokens, it has a market cap of over $1 billion. Owing to its fast growth and value, the coin is on several crypto exchanges. Therefore, there are many exchanges from which you could buy. Nonetheless, the best option remains Pancakeswap. 

Curious as to why Pancakeswap is the best? Here are the reasons.

Pancakeswap—Buy Lido Staked Ether Through a Decentralized Exchange

Pancakeswap is a Binance Chain-powered DEX used to swap tokens securely and efficiently. A significant benefit enjoyed by Pancakeswap users is the access to numerous digital assets. That way, you can invest in the latest projects and have a diverse portfolio.

The platform also gives a more cost-effective option to users. So, when you use Pancakeswap, you not only get a swift transaction but also increased access to make more profits. The Automated Market Maker (AMM) is a great feature too, as it makes pairing matching of buyers rather seamless. 

Getting started will require you to have a compatible wallet. The best pick for Pancakswap is Trust Wallet. While there are other options like SafePay and TokenPocket, they do not integrate with Pancakeswap as swiftly as Trust.  Once you get your Trust Wallet, you can transfer cryptocurrency into it or you can buy directly using your debit/credit card.

Following that, proceed to Pancakeswap to swap your digital assets for Lido, and that’s it!  What more? With Pancakeswap, you can earn on idle tokens. By having cryptocurrency on the platform, you contribute to the growing liquidity pool, giving you staking rewards in exchange. 

Ways to Buy Lido Staked Ether 

There are several ways you can buy Lido Staked Ether. Your choice depends on your inclination. For example, your preference could be a preferred payment method or a particular crypto exchange. 

The best ways to buy Lido Staked Ether are: 

Buy Lido Staked Ether Using Your Debit/Credit Card

For you to buy Lido Staked Ether using your debit/credit card, 

  • You will purchase a popular cryptocurrency like Bitcoin Coin or Ethereum using a debit/credit card. Trust Wallet supports this payment method.
  • Connect to Pancakeswap.
  • Swap the crypto purchased for Lido Staked Ether.

To buy using your debit/credit card, you will be required to undergo a KYC process. The implication of this is that you cannot make transactions incognito. 

Buy Lido Staked Ether Using Cryptocurrency 

If you do not want to buy Lido Staked Ether (stETH) tokens using your debit/credit card, you can do so by swapping with another cryptocurrency. For this, you need to have digital assets in an external wallet. All you need to do is swap the crypto for Lido Staked Ether via Pancakeswap. 

You will have to transfer the cryptocurrency to a suitable wallet like Trust Wallet. This wallet is recommended because it offers excellent security for your tokens. 

Should I Buy Lido Staked Ether?

The urge to buy Defi coins that have shown impressive growth is understandable. However, the decision should be one you make after adequate research on the token. Your personal research will ensure you have a knowledgeable edge in the crypto world. 

No doubt, it can be pretty tricky knowing the relevant things to read. So, we have gathered some essential things to consider when buying Lido Staked Ether. 

Solve Illiquidity Problem

Lido Staked Ether operates to address the minimum stake challenge arising with ETH. It is an Ethereum 2.0 staking protocol that offers ETH holders the opportunity to earn more rewards even while not having the standard minimum requirement of 32 ETH.

Governed by the Lido DAO, the protocol works pretty much in the same way as ETH, but with a more rewarding system.

You can use Lido Staked Ether in all of the same ways to use ETH, such as:

  • Sell it.
  • Spend it. 
  • And since it is compatible to be used in Decentralized Finance, use it as collateral for on-chain lending.

When a Lido user deposits ETH into the pool, they receive a unique ERC20 token. Since these tokens can be traded and used in a similar way as ETH, Lido solves the problem of funds being unavailable for use, until they are ripe for withdrawal. That way, transactions can continue on the protocol, as illiquidity challenges have been solved. 

Evaluating The Dip

A dip is a short-term, minor slide in asset price. It is also known as a pullback. Based on the idea of price waves, the market’s movement will depend on the overall trend and exchange during an intra-day correction. Although the cost of acquiring a position can be lowered from getting the dip, its danger/compensation ratio should steadily be estimated.

This is because a drop may not be the best when the market becomes bearish. Lido Staked Ether hit an all-time low of $551.78 per token in December 2020 and an all-time high of $4,354 in May 2021. Thus, anyone who bought at $551.78 would have witnessed an increase of about 689% when it reached its all-time high.

Furthermore, as of the time of writing in July 2021, Lido is priced at over $2,126. This project has had a notable trajectory. So, it might be a good buy in terms of value and depending on your purchasing capacity. With an all-time high of $4,354 in May 2021 and a price of $2,126 as at the time of writing, you’re looking at about a 50% discount.

Generates Staking Rewards from Ethereum

Lido Staked Ether produces staking rewards from Ethereum (ETH) 2.0. As a result, your Ethereum balance on the beacon chain stands to rise. 

Additionally, the project has a growing community of users behind it. This is a remarkable perk for any cryptocurrency in the marketplace, since the users determine the traffic level the coin enjoys. 

Risks of Buying Lido Staked Ether

With adequate research, you will understand that cryptocurrency trading has its pitfalls. For example, the cryptocurrency market takes a turn, and the value of Lido Staked Ether invariably changes. Additionally, since it is technology-based, there are several cases of cyber theft or crime, putting digital assets at a risk.

However, you can mitigate the risks by:                                      

  • Researching carefully before choosing an exchange or wallet. This is why Pancakeswap and Trust Wallet are favored by many investors.
  • Ensuring your stakes are reasonable—do not go all in. 
  • Invest in other Defi coins alongside Lido Staked Ether. This helps to expand your portfolio and offers you several streams of cryptocurrency income.
  • Use a dollar-cost averaging strategy to buy Lido Staked Ether.

Best Lido Staked Ether Wallet

To safeguard cryptocurrencies, you need to store them in a cryptocurrency wallet. Your wallet choice depends on the type of token you want to keep. It will help if you also focus on the ease of use and security.

Below you will find a list of the best Lido Staked Ether wallets.

Trust Wallet: Overall Best Lido Staked Ether Wallet

Trust Wallet is the safest you can get when it comes to storing Lido Staked Ether. Trust Wallet is a software app that can be accessed via a mobile device. You can download it through Google Play Store or iOS for free.

It supports a number of cryptocurrencies, and it comes with unmatched convenience. The wallet also gives you complete authority over your private keys. Additionally, you can get digital assets using debit/credit cards and connect with Pancakeswap seamlessly.  

Ledger Nano: Best Hardware Lido Staked Ether Wallet

A Ledger Nano wallet has the capacity to keep a large amount of Lido Staked Ether for a long time. It is a hardware wallet that allows you to be offline without the fear of your account being phished or hacked. 

Coinomi Wallet: Most Reliable Multi-Asset Lido Staked Ether Wallet

Coinomi Wallet is a multi-asset wallet that works perfectly for storing Lido Staked Ether. It is known for its superb security, enhanced anonymity, solid track record, zero fees and a one-time backup.

It is available for download to desktop on Windows, macOS and Linux. It is also available for download on Android and iOS devices. 

How to Buy Lido Staked Ether —Bottom Line

Lido Staked Ether has risen notoriously since its launch. It is one of the coins with high market value as of the time of writing. To buy Lido Staked Ether, you have numerous options to choose from, but none matches using a decentralized exchange like Pancakeswap.

This guide has simplified how to buy Lido Staked Ether using Pancakeswap and Trust Wallet. That way, you can do it all without a third party.

Buy Lido Staked Ether Now via Pancakeswap

 

 

Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile. 

FAQs

How much is Lido Staked Ether?

Similar to other digital assets, the value of Lido Staked Ether is subject to change. As of July 2021, one Lido Staked Ether token is worth just over $2,100.

Is Lido Staked Ether a good buy?

While Lido Staked Ether has exhibited exceptional growth since its launch, it remains volatile and speculative. So do some personal research before making a purchase.

What is the minimum Lido Staked Ether tokens you can buy?

You can buy as little or as much as you desire.

What is the Lido Staked Ether all-time high?

Lido Staked Ether hit an all-time high on May 12, 2021, when it was priced at $4,354 per token.

How do you buy Lido Staked Ether tokens using a debit card?

Begin by utilizing your debit/credit card to obtain a digital asset. You can do this on Trust Wallet. Next, proceed to swap the crypto bought for Lido Staked Ether on Pancakeswap.

How many Lido Staked Ether tokens are there?

Lido Staked Ether has a total supply and circulating supply of over 620 thousand tokens. It has a market cap of over $1.2 billion as of July 2021.