How to buy Leasehold tokens on LDEX

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This guide will show you how to purchase Leasehold (LSH) tokens on LDEX — A similar approach could also be used to purchase any other token listed on LDEX using Lisk (LSK) as the exchange cryptocurrency.

If you don’t already own LSK tokens, you will need to buy some on a (fiat-to-crypto) centralized exchange or get them over-the-counter (OTC) from someone who willing to sell you some.

This guide has been divided into 3 steps:

  • Step 1: Buying LSK tokens on an exchange using fiat currency
  • Step 2: Moving LSK tokens to your personal Lisk wallet
  • Step 3: Buying LSH tokens using tokens from your personal Lisk wallet

Step 1: Buying LSK tokens on an exchange using fiat currency

The simplest way to buy Lisk with a fiat currency is through a centralized exchange.

The following centralized exchanges support purchasing Lisk (LSK) using fiat:

  • Kraken (EUR, USD)
  • BitBay (EUR, USD)
  • bitFlyer (EUR, USD)
  • bitpanda (CHF, EUR, GBP, USD)
  • Coincheck (JPY)
  • UpBit (IDR, KRW, SGD)

The market to buy Lisk with Euros is called LSK/EUR and the market to buy Lisk with US dollars is called LSK/USD… All fiat market names for Lisk follow a similar convention.

For some fiat currencies like the Chinese Yuan (CNY), it may not be possible to buy Lisk with a single trade. In such a case, you will need to buy Bitcoin first, then you will be able to convert that Bitcoin into Lisk. This means that you will need to do a trade on two different markets; first, you will need to buy Bitcoin on a BTC/CNY (or XBT/CNY) market and then you will need to use your newly purchased Bitcoin to buy Lisk on an LSK/BTC (or LSK/XBT) market.

Step 2: Moving LSK tokens to your personal Lisk wallet

Once you have bought some LSK on a centralized exchange, you will need to withdraw them into your own personal LSK wallet. Only when LSK tokens are inside your personal wallet, you will be able to exchange them for LSH tokens using LDEX.

If you don’t already have a personal Lisk wallet, you will need to create it. One way to create a Lisk wallet is to use the Lisk wallet application (https://lisk.io/wallet). The Lisk wallet application is useful if you want to use Lisk later but if you just want to buy some Leasehold tokens, then it is not necessary — You can also create a Lisk wallet directly using the lisk-dex-ui application.

You can either download the lisk-dex-ui application from the LDEX website (https://ldex.exchange/) or you can simply use the hosted version here (in this case, no installation or signup is necessary): https://ldex.exchange/trade/

From the lisk-dex-ui application, you can generate a new Lisk wallet in a few seconds by clicking on the green Sign in button near the top right corner of the screen and then clicking on the relevant Generate wallet button like this:

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Click on the ‘Generate wallet’ button under the LSK text area
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It will create a LSK wallet passphrase and address

Once you have generated a LSK wallet, you should copy your 12-word secret passphrase and your public wallet address and save them in a safe place (write them down or save them in a file on your computer).

Make sure that you never share your wallet passphrase with anyone and make sure that you don’t lose it. Nobody will be able to recover your tokens if you lose your passphrase.

Once you have generated your personal LSK wallet, you should go to your centralized exchange website where you bought your LSK tokens and tell it to withdraw your LSK tokens — The exact process differs between different exchanges. On Kraken, for example, you need to go to a Funding section, then you find your Lisk wallet and click on the Withdraw button next to it and follow the prompts.

At one point it should ask you for a wallet address to withdraw the LSK tokens into; at this point, you will need to provide your personal wallet address which you generated earlier (the long number which ends with an L) and confirm the withdrawal.

It can take some time for the withdrawal to go through (sometimes a few hours depending on the exchange) but once it finishes, you will have received tokens inside your personal LSK wallet and you can use these two purchase some LSH tokens on LDEX.

Step 3: Buying LSH tokens using tokens from your personal Lisk wallet

First, you need to open your lisk-dex-ui application (the one which you used to generate your personal Lisk wallet) and click on the green Sign in button near the top right of the screen.

Then you should type in or copy-paste the passphrase of your personal LSK wallet into the top text area. Then you will need to click on the second Generate wallet button which is below the second text area.

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You need to generate a Leasehold (LSH) wallets to buy LSH tokens
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Submit to sign in with both wallets

Make sure that you write down or save the second Leasehold (LSH) wallet details in a safe place (both the passphrase and the wallet address). Be careful not to confuse your LSH wallet with your LSK wallet.

Once you’ve written down or saved the LSH wallet details, you will need to click on the submit button to sign in with those two wallets. You always need to be signed in with both wallets in order to trade on the LSH/LSK LDEX market.

Once you’re signed in, you can buy some Leasehold (LSH) tokens simply by typing the amount of of Lisk (LSK) that you wish to convert inside the Amount text field near the bottom left of the screen (inside the BUY section). Then you click on the green Submit button like this:

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The gray number directly above the ‘Submit’ button tells you how many LSH tokens you can expect to get

Note that the rows of red and green entries on the right side of the SELL/BUY section represent a list of all open sell (red) and buy (green) orders which you can exchange your tokens with. This area is called the order book. The white price in-between shows the last trade price. The lowest current sell offer which you can buy is the red one at the bottom.

As soon as you’ve placed your order, it should show up as pending in the YOUR ORDERS section:

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Pending order with progress spinner

Once it goes through, you should see your wallet balance update in the SELL section:

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Balance is visible in the SELL area

You can also view your Leasehold wallet balance by searching for your wallet address here in Leasehold Explorer: https://explorer.leasehold.io/

CTO at Leasehold, creator of SocketCluster http://socketcluster.io, ex-LiskHQ developer. https://github.com/jondubois

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