How to buy Lisk (LSK) with a Credit or Debit Card on bitFlyer
These days, it’s hard to imagine what life would be like without a credit card. Whether it’s grocery shopping or paying your bills online, credit cards are used all over the place. When it comes to buying cryptocurrency, however, you might come across some difficulties. Banking providers generally don’t want to deal with digital currencies until they have verified their security, reliability and the regulatory compliances in terms of the locations where purchases are made. So what role does our platform play?
Fortunately, bitFlyer meets all the requirements described above. When compared with other methods, such as SEPA-transfer, buying cryptocurrency— whether it be Bitcoin or Lisk —isn’t difficult at all. Further ahead, we will delve into a detailed guide on how to buy Lisk using a credit card. But first, let’s get a brief overview of what exactly Lisk is.
Lisk is one of the cryptocurrencies available on our site along with Bitcoin, Ethereum, Ethereum Classic, Litecoin, Bitcoin Cash and Monacoin. At the heart of Lisk’s philosophy is a platform designed for creating decentralized applications. If you are familiar with the concept of Ethereum, Lisk is somewhat similar. However, it features a number of significant differences. Lisk doesn’t just focus on the financial sector, but rather on the ability to quickly create blockchain applications for any purpose – from entertainment to logistics.
The main differences are:
- Each individual application (dApp) acts as a separate blockchain. In case of problems with any application, Lisk simply blocks them. The app quickly disconnects from the network without threatening its operation.
- Most of the possible vulnerabilities of a single dApp do not affect the performance of the main network.
- Lisk uses the Delegated Proof-of-stake consensus algorithm, which allows users to receive rewards for mining, practically doing nothing.
The platform itself runs on a native token called LSK. At the beginning of 2020, according to Coinmarketcap, it cost about €1 and confidently held a position in the top 40 among all world cryptocurrencies. The current price needs to be clarified at the time of the purchase. In fact, we’re going to get more into that now.
Advantages of buying Lisk (LSK) with a Credit Card or Debit Card
The main advantages of buying LSK with a credit card are speed and comfort. The process of purchase on bitFlyer is carried out directly, which means you do not need to place orders, wait for their execution or take any further action. The entire process takes no more than 3-4 clicks.
How to buy Lisk (LSK) on our platform?
To buy Lisk with a credit or debit card, you need to register on the platform and pass verification. This means that you need to provide your name, email address, date of birth, country of birth, nationality, identification document number and a phone number. After that, you will be able to access a Trade class account that allows you to conduct all operations with cryptocurrencies, but has restrictions on depositing and withdrawing funds. So with a Trade class account, the amount of replenishment or withdrawal of funds from the account cannot exceed a net worth of €249.99 per transaction, or €2,499.99 of cumulative transactions within a one-year rolling window.
If you go a step further through the KYC policy by providing your bitFlyer ID and residential proof, your account will be upgraded to a higher level – the Trade pro class. With this upgrade, the maximum amount for replenishment or withdrawal of funds becomes unlimited.
Once your account is set up, you can start buying LSK. To do this:
- Go to the “Instant Buy” tab on the side menu.
- Choose the currency you are interested in. In this case, it’s Lisk. Note that the current price of the coin is written underneath its logo and trading ticker.
- Next, select the purchase amount. You can use one of the predefined popular options or enter a custom amount.
- Choose the payment method (credit card).
- Enter the card details, and the cryptocurrency will be credited to your trading account immediately after the transaction.
Please note that unlike bank SEPA transfers, our platform takes a commission for using the instant purchase function. It amounts to 1.95% of the total sum of purchase + € 0.25 per each transaction.
Other methods to buy Lisk (LSK) on bitFlyer
If, for some reason, you do not want to use your credit card, but are still wondering where to buy Lisk, bitFlyer provides other options. You can:
- Use the Instant Buy function and buy the asset you like using third-party financial providers such as iDeal, Sofort or Giropay.
- Use a traditional bank transfer (SEPA transfer). In this case, you will deposit funds to your trading account on the platform.
- Finally, you can fund your account with one of the other available cryptos, sell them on bitFlyer and buy Lisk in return.