What is Lido DAO (LDO)?
LDO is the governance token of Lido DAO. Lido DAO is a liquid staking protocol which works on the Ethereum blockchain. It enables users to stake their ETH in Ethereum’s beacon chain, which locks the assets. Lido DAO then allows these assets to be liquified by issuing stETH. The purpose of the Lido protocol and stETH is to allow those who’ve staked their ETH to retain some liquidity as their ETH is locked until further upgrades to the Ethereum mainnet are completed. You can buy and sell LDO for any major cryptocurrency – like ETH and XRP – or traditional currency such as Canadian Dollar, US Dollar. Trading cryptocurrencies is like foreign exchange of traditional currencies – you trade LDO for ETH the same way you trade CAD for USD. You can also trade LDO to CAD based on the LDO price. To learn how to buy Lido DAO / LDO, scroll down to see how to buy Lido DAO.
How to buy Lido DAO (LDO)?
Here's how to buy Lido DAO on Coinsquare
To buy Lido DAO, simply follow these steps:
1. Sign up for a Coinsquare account and verify your identity
This is the first step to buying LDO. Verifying your identity helps us to properly connect your funds to your account.
2. Fund your account with Canadian Dollars
Funding is like putting gas into a car – it helps you get where you want to go.
3. After funding, select LDO from the list on the trade section
Coinsquare lets you trade LDO without leaving the app. You can also check the Lido DAO price and convert LDO to CAD or USD on the platform.
4. Select a currency you’ve funded and use it to check the LDO price
In the Coinsquare app, all currencies available to trade can be found in the drop down list.
5. Buy Lido DAO (LDO)
Congratulations! You’re now the proud owner of LDO. You can either HODL or use it to exchange LDO to CAD or any other cryptocurrency listed on Coinsquare.
Where do I keep my Lido DAO (LDO)?
At Coinsquare, we offer customers the power of easy transactions and cold storage security. Client assets are securely stored 1 to 1 in cold storage with approved custodians, kept separate from operational funds, and never utilized for lending purposes.
All client assets are held in trust with external, licensed custodians with a combined $680M USD in insurance. Additionally, CCML maintains Vault Risk insurance beyond those of its custodians that cover risks related to the cold storage of its clients’ crypto assets. And the cash held in your account is insured against insolvency by the Canadian Investment Protection Fund (CIPF). This means that in the unlikely event that Coinsquare (CCML) becomes insolvent, CIPF will cover any shortfall of cash held in client accounts up to $1 million CAD per account.
Ready to add Lido DAO (LDO) to your portfolio?
Create your account, fund it with spare change and get a little bit of LDO.
