Home » Crypto » Lisk Cryptocurrency : How To Buy Lisk – Beginner’s Guide

Lisk Cryptocurrency : How To Buy Lisk – Beginner’s Guide

Specifications

  • Block Time – 10 seconds
  • Round Time – 17 minutes
  • Supply – 100 million LISK + annual forging rewards (currently 4 LSK per block)
  • Consensus System – Delegated Proof – of – Stake (DPoS)
  • Ticker Symbol – LSK

Lisk is an open – source blockchain platform which is powered by LSK tokens that will allow developers to write decentralized applications in the JavaScript programming language. It came into being in early 2016 and is one of the numerous blockchain application platforms. It has been designed in a way that developers can create their own decentralized apps which are similar to Ethereum and NEO.

Lisk is depended on its own network of the blockchain along with a designated token which is known as “LSK”. It allows other developers to create as well as distribute and manage blockchain applications of a decentralized nature.

The main motive of Lisk is to provide that infrastructure. With Lisk, programmers can do away with writing the core blockchain code themselves as they will be assisted in developing custom, industry – specified applications that work on top of Lisk’s blockchain framework.

Lisk is still under development and it aims to be user – friendly and is geared towards mass adoption. It has launched its own digital token (LSK) in May, 2016 to help raise funds to finance the project. The Lisk tokens are also used to handle fees and transactions within the larger Lisk ecosystem.

How is Lisk Different From Bitcoin

Basically, Lisk is a software development platform, and there is a cryptocurrency which is associated with it. They are used to pay fees or make transactions within applications built on the broader Lisk framework. In contrast to that, Bitcoin was designed to be a stand – alone digital currency that is universally accessible.

Lisk vs Ethereum

The similarity between both Lisk and Ethereum is that they are decentralized applications. However, the diiference lies in the language. On one hand, Ethereum platform requires most developers to learn the Solidity programming language, Lisk is built with JavaScript, which is a language that is already well – known and popular.

Where can I Use LSK to Pay

One who owns Lisk can use the Lisk tokens to finance projects build on the Lisk platform. The team behind Lisk is working to generate a framework that makes it easy to build entire applications using blockchains technology. In order to run these applications, users will need to pay fees with the Lisk token.

How to Buy Lisk

If you wish to purchase Lisk, you can do so from the popular cryptocurrency exchanges, which includes Bittrex and Poloniex. Before you buy Lisk, you can download the Lisk wallet to hold your funds. In most cases, you cannot buy Lisk directly with fiat currency – you will have to use Bitcoin

Name Payment Method Available Fiat Currency Available Cryptocurrency
Changelly Credit Card, Debit Card USD, EUR BTC, BCH, ETH, XMR, ZEC, DASH, XRP, ETC, LTC, DOGE, XLM,1ST, ADX, AMP, ANT, BAT, BCN, BNT, BTG, CFI, CVC etc
CoinSpot Cash, BPAY, POLi, Cryptocurrency AUD BTC, BCH, ETH, XRP, ADA, XEM, LTC, XLM, MIOTA, TRX, DASH, NEO, XMR, EOS, QTUM, BTG, LSK, ETC, XVG etc
Binance Cryptocurrency BTC, XRP, USDT, ETH, NEB, XVG, TRX, NEBL, ETH, NEO, FUN, ETC, BCC, POE, DASH, ELF, ICX, BNB, ZRX, APPC etc

Is it Possible to Make Money with Lisk

Lisk is in its early stage of development. However, it has indeed witnessed a considerable growth since its initial release in 2016. The value of Lisk is not clear yet; the ultimate value of Lisk will become clearer once more applications begin to use the Lisk framework. Those who see potential in the larger Lisk framework may choose to buy into the token with the assumption that it will increase in value as the project develops. However, cryptocurrencies are not reliable, and there is no guarantee you can make money with Lisk.

Things to Keep in Mind While Purchasing Lisk

It is important to note that Lisk‘s platform and Lisk’s Software Developement Kit (SDK) is still in the developmental stage. It is slowly but surely growing. However, only time will tell when it comes to how successful Lisk will be in terms of mainstream adoption.

While the Lisk platform has many unique features, there are other blockchain frameworks competing in this space. As more applications begin to implement the Lisk infrastructure, we’ll get a much clearer picture of what the future holds for this new technology.


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