Ultimate guide on how to
buy Lisk (LSK) on Private: BitBay

Step by step overview on how to buy Lisk (LSK) on BitBay

Here is a step by step image guide on how to buy Lisk (LSK) on Bitbay, one of Europe’s leading cryptocurrency exchanges. The process is listed below and is very straightforward.

  1. Sign-up for an account on BitBay
  2. Get Verified on BitBay
  3. Secure your BitBay account by setting 2FA
  4. Start Trading on BitBay

1. Sign-up on BitBay

To start, go to https://bitbay.net/en.

Click on “Open a Free Account” on the bottom center of the page.

how to register on BitBayThen click the ‘Email’ button.

how to register on bitbay

Enter your email address and tick the agreement box to declare that you have read their terms and conditions. Additionally, you can also check the next button if you like to receive updates regarding features on BitBay. Click on the Register button to proceed.

Enter your email ID and check the box declaring that you have become acquainted with the regulations and privacy policy and that you accept their terms. Check the next box if you’d like to receive updates about new and interesting features from Bitbay. Then click on the Register button.

Open up the account activation email from Bitbay in your inbox and click on the “Activate Account” button.

how to register on BitBay

To finish your registration, you will have to create your username and password. Come up with a password that has at least eight characters. It must include upper and lower case letters, numbers and special characters. Re-enter your password and create a 4-6 number security code(PIN). Hit ‘Next’ to continue.

how to register on BitBay

Select your ‘Country’ from the drop-down menu and your default currency. To complete your registration click on the ‘Create Account’ button.

how to register on BitBay

Awesome! Your BitBay registration is now complete.

 

2. Get verified on BitBay

If you plan to deposit US Dollars, Euros or Polish Zloty, you must go through a verification process.

To do this, you must log-in to your account first by clicking on the ‘Log-In’ button at the upper right of the screen.

how to log in on BitBay

Click on ‘Dashboard’ at the top left of the page.

how to verify your BitBay account

Click on ‘Verify your Account’ on top the page.

how to verify your BitBay account

Choose whether your account is Personal or Company. For individuals choose the ‘Personal account’ option. Whereas ‘Company account’ is for company use.

How to verify your BitBay account

A form will pop-up wherein you have to enter your Name, Surname, Home address, Postal code, City, and Country. Click Next to proceed.

How to verify your BitBay account

After you click on next, you will be asked to enter your ID number, Expiry date, Issued date of your ID, Birth date, and Phone number.

How to verify your BitBay account 5

Verify your address and provide an identification document on the next page. It should be within six months from the issue date. This document can be a bill, agreement, official paper or a bank account statement and must be in jpg or png format. Click ‘Next’ to continue. Provide a copy of your ID (front and back) to complete this process. Read through the guidelines to make sure you don’t miss important details. You will know the status of this action within 24 hours.

Note: Identification Document should be government-issued, Driver’s License or Passport, etc.

Nice work on verifying your BitBay account!

 

3. Secure your BitBay account by setting a 2-factor authentication (2FA)

What is 2FA?
Two-factor authentication, also known as 2FA, is an extra layer of security or added protection which we refer to as multi-factor authentication. Not only the username and password are required but also a piece of information that only a user possesses. This process is to confirm a user’s claimed identity.

The 2FA process helps lessen the number of identity theft cases and as well as phishing via email. It would be harder for potential intruders to gain access and steal someone’s identity and personal data without that piece of information that only the account owner knows.

In the case of exchanges what the user has are his/her login details such as the username and password. The form of 2FA that a user possesses for this instance is a token or code. The code can be received either through SMS on a user’s mobile phone or via applications like Google Authenticator or Authy.

In this step, we will use the Google Authenticator app to illustrate the enabling process of 2FA on your BitBay account. To start,  go to the ‘Security’ tab located on the right panel.

Check this if you want to learn more about Google Authenticator.

How to enable 2fa on BitBay

Tick on ‘Google Authenticator’ to activate 2FA and then click the ‘Save Changes’ button.

How to enable 2fa on BitBay 2

Open your Google Authenticator app and scan the barcode. Enter the Authentication code that is generated by the app to the field provided. Hit Confirm to continue.

How to enable 2fa on BitBay 3

Finally, to confirm the action taken, you will have to enter a code that you receive in your email from Bitbay.

Perfect! Your BitBay account is now secured.

 

4. Start trading Lisk (LSK) on BitBay

After passing the account verification stage, your account will now be able to accept deposits. Once there is money in it you can go ahead and buy your first Lisk (LSK) on BitBay. Below is the summary of the buying process.

Click on the ‘Exchange’ tab at the top left of the page to see the various currencies that you can buy and sell. Click on Place an Order. Select a Lisk (LSK) that you wish to buy and its amount. After this, the price gets calculated automatically. Alternately, you can also enter a dollar value or the amount you are willing to spend, and the amount of Lisk (LSK) that you’ll receive gets calculated automatically. Verify that all information is correct. Click on the ‘Buy’ button to finalize the transaction.

How to buy Lisk (LSK) on BitBayCongratulations! You have just completed your first Lisk (LSK) transaction on BitBay.

Transferring Lisk (LSK) from Private: BitBay to other exchanges.

Transferring Lisk (LSK) from Private: BitBay to wallets.

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