How to Buy Lido on Kusama Crypto (WSTKSM)

What is Lido on Kusama (WSTKSM)?

According to Coingecko, Lido on Kusama is : Lido KSM Liquid Staking Protocol, built on the Kusama chain, allows their users to earn staking rewards on the Kusama chain without locking KSM or maintaining staking infrastructure. Lido on Kusama make KSMs liquid while staking. It ensures maximized yield and availability of staking and makes leverage options possible while being decentralized and secure. Users can deposit KSM to the Lido smart contract and receive stKSM or wstKSM tokens in return. Unlike KSM staked directly on the Kusama network, the stKSM and wstKSM tokens are free from the limitations associated with the lack of liquidity and can be transferred at any time. The stKSM and wstKSM token balances corresponds to the amount of the Kusama chain KSM that a holder can withdraw. That becomes possible because of permissionless validator node selection and dynamic reallocation algorithms along with slashing hedging deployed on Moonbeam parachain and empowered by XC-20 cross-chain token standard. wstKSM is a wrapped version of stKSM. Due to the nature of Lido, the amount of stKSM on your balance is not constant — it changes daily as staking rewards come in. As some DeFi protocols require a constant balance mechanism for tokens, wstKSM keeps your balance of stKSM fixed and uses an underlying share system to reflect your earned staking rewards.

Where can I buy WSTKSM Crypto?

The best website to buy Lido on Kusama is Simpleswap.

With Simpleswap you can buy almost every reputable token without needing to register or providing proof of identity. The process is incredibly simple and quick.

How to Buy Lido on Kusama on Simpleswap

To buy Lido on Kusama on Simpleswap, first you need to click here to access the Simpleswap App. Now, click the "Buy Crypto" tab, select your fiat currency, and then select WSTKSM, just like in this example:

Once you selected the currency you want to pay in, and WSTKSM, you need to paste your respective wallet address where you want to receive your WSTKSM.

With Simpleswap, you'll receive your Lido on Kusama directly on your on-chain wallet without need to deposit and withdraw like in every other exchange.

You can now choose between Google Pay or card to complete the payment:

Once you complete the payment, all you gotta do is wait a few minutes for the payment confirmation, and for the on-chain transaction to complete. Once all that is completed you should see your updated balance in your wallet.

Please make sure you read our Disclaimer. We are not financial advisors.