LDO is the native utility token of Lido. Lido is a liquid staking solution for Ethereum, allowing users to stake their ETH with no minimum deposits or maintaining of infrastructure. It is used for granting governance rights in the Lido DAO, managing fee parameters and distribution, along with governing the addition and removal of Lido node operators.
Bitvavo makes it as easy as possible to buy digital assets and cryptocurrencies.
1. Sign Up
Create a free account with which you can buy, sell, send, receive and store Lido DAO. Access your Bitvavo account from every location, on mobile and desktop.
2. Transfer Funds
Verify your account and transfer Euros to your Bitvavo wallet using one of the 8 supported payment methods.
3. Buy and Trade
Buy or sell over 150 digital assets and pay a maximum trading fee of 0.25%. Store your assets in your Bitvavo wallet or send them to your external wallet.
Storing Lido DAO and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Lido DAO without any technical knowledge. Here is a brief overview of the existing wallet options to store your Lido DAO:
Hosted wallets are wallets where the private keys to your Lido DAO are managed by a third party such as Bitvavo. Access to your account is protected by a password and other advanced security features. Once you are logged in, you can easily and conveniently manage your Lido DAO online. Bitvavo offers standard hosted wallets for all digital assets that are offered on the platform.
A software wallet is a program installed on your computer or other device in order to use and manage your Lido DAO. Using a software wallet gives you full control over your private keys, so you are not dependent on third parties. The risk is that you alone are in charge of the security of your Lido DAO, and if malicious parties have access to your device, your private keys (and therefore your Lido DAO) can be stolen.
A hardware wallet is a physical device on which you can store your Lido DAO offline. It is one of the safest ways to store your Lido DAO, because the private keys are stored on a separate and offline device. Access to this device is often protected by a password. In many ways, a hardware wallet can be compared to a safe in which your Lido DAO is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Lido DAO. Once you have purchased Lido DAO on Bitvavo, you can choose to send your Lido DAO from your Bitvavo wallet to your own software or hardware wallet.