Last update: Jun 6, 2022

How to Buy Litentry (LIT)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy Litentry. Depending on where you’re located, you’ll have various trading platforms to choose from.

In this guide, we not only cover the top 3 global crypto exchanges, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

Litentry

How to Buy Litentry – 4 Easy Steps

1. Choose a crypto exchange

Finding a crypto trading platform isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have Litentry of course.

2. Sign up with the crypto exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger exchanges.

4. Buy Litentry

Now that you have what you need to buy Litentry, head over to the market or buy section of the cryptocurrency exchange and buy some LIT.

If the crypto exchange doesn’t have any Litentry on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has Litentry first), and trade your Ethereum for Litentry.

Where to Buy Litentry (LIT)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
BinanceUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
FtxUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX
Etoro logoUSD, GBP, AUD, EUR, and more50+credit card, skrill, paypal, bank transfer, and moreVisit eToro
Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell Litentry

  1. Sign into the crypto exchange where you bought Litentry.
  2. Move your Litentry to the right place on the crypto exchange. Some exchanges have trading accounts you need to use for buying and selling.
  3. Sell Litentry.

 

Crypto trading

How to Buy Litentry (LIT) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy Litentry in Australia, the process remains the same:

  1. Find a cryptocurrency exchange below.
  2. Sign up for an account.
  3. Fund your account with AUD.
  4. Buy Litentry if it’s available. If the exchange doesn’t have Litentry. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Litentry), and trade your ETH for Litentry.

Or, if you’d like to learn more about the exchanges we prefer, read our list of the top crypto exchanges in Australia.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Swyftx logoAUD, NZD300+bank transfer, POLi pay, PayID, credit cardVisit Swyftx
Binance logoUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
Ftx logoUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX

How to Buy Litentry (LIT) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy Litentry in Canada, the process remains the same:

  1. Find a crypto exchange below.
  2. Sign up for an account.
  3. Fund your account with CAD.
  4. Buy Litentry if it’s available. If the exchange doesn’t have Litentry. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Litentry), and trade your ETH for Litentry.

Also, take a look at our analysis of the best places to buy bitcoin in Canada If you’re interested in learning more about which exchanges we prefer.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Bitbuy logoCAD15+Wire transfer, Interac e-TransferVisit Bitbuy
Coinberry logoCADBitcoin, Ethereum, Litecoin, BCH, XLMInterac e-Transfer, Wire transfer, Credit card, Debit cardVisit Coinberry
Ndax logoCADBitcoin, Ethereum, Litecoin, and 4 morewire transfer, Interac e-Transfer, Bank draftVisit ndax

How to Buy Litentry (LIT) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy Litentry in the UK, the process remains the same:

  1. Find a crypto trading platform below.
  2. Sign up for an account.
  3. Fund your account with GBP.
  4. Buy Litentry if it’s available. If the exchange doesn’t have Litentry. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Litentry), and trade your ETH for Litentry.

Or, if you’d like to know more about which exchanges we recommend, look at our list of the places where to buy cryptocurrency in the UK.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Cex logoGBP, USD, EUR10+Bank transfer, credit card, debit cardVisit CEX
Coinjar logoGBP50+Bank Transfer (FPS), Visa, MastercardVisit Coinjar
Coinbase logoUSD, GBP, EUR150+Bank transfer (FPS), credit/debit cardVisit Coinbase

Cryptocurrency trading

Considering buying Litentry? LIT Rundown

Litentry aims to address a controversial issue in the crypto industry.
It wants to link identifiers with crypto-based wallets so that, instead of a third party, the blockchain checks users identities. Litentry allows crypto and blockchain projects to offer dedicated services based on the identity's qualified information.

Cross-Platform Identity A user's identity is the collection and use of data. It may allow access to specific services. A good Alipay credit score could help you get a microloan. A cross-platform identity, on the other hand makes it much easier for users to log into different applications. Web3.0 wouldn't be able to provide a seamless identity management experience without a cross-chain identification. Litentry is a pioneer in cross-chain identity revolution. It allows users to select identities from different chains and link them together, and then use them as the first-order logic in multiple decentralized applications. Litentry also uses blockchains to decentralize, so users are not constantly monitored.

Powered By Blockchain: This platform is built upon Substrate which allows Litentry to take advantage of the most advanced technologies in the blockchain industry. Litentry plans to take part in the parachain sale, to secure a spot on Polkadot. This will enable it to access the Polkadot cross-chain ecosystem and shared security.

Privacy-Focused Today's users are very concerned about their privacy, particularly when it comes to money. Litentry offers an incognito on chain data processing feature that ensures users' privacy.

Fully decentralized: Litentry processes computations and DID verification aggregates from anyone seeking an identity-based service. It then shares a trustable outcome. While maintaining privacy and decentralization, the network randomly selects validators to verify the process.

LITT Token: LITT is a native token for the Litentry network. It has multiple uses. The token can be used to pay a fee for credit/reputation calculation on the network. The platform also uses LITs as a reward for indexing identity databases, stake to be an identity registrar and deposit in DeFi lending services analyzed.

The world is closer to a fully functioning Web3.0 ecosystem. This will allow it to see more uses cases for a cross-chain identification provider to facilitate a seamless user experience. Litentry, an innovative solution that interconnects a large amount of data and protects the privacy of users, is a major step forward. These features are also ideal for DeFi, decentralized KYC and on-chain governance.

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author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.