How to Buy Livepeer Crypto (LPT)

What is Livepeer LPT?

According to Coingecko, Livepeer is : The Livepeer project aims to deliver a live video streaming network protocol that is fully decentralized, highly scalable, crypto token incentivized, and results in a solution which can serve as the live media layer in the decentralized development (web3) stack. In addition, Livepeer is meant to provide an economically efficient alternative to centralized broadcasting solutions for any existing broadcaster. In this document we describe the Livepeer Protocol - a delegated stake based protocol for incentivizing participants in a live video broadcast network in a game-theoretically secure way. We present solutions for the scalable verification of decentralized work, as well as the prevention of useless work in an attempt to game the token allocations in an inflationary system. The Livepeer Token (LPT) is the protocol token of the Livepeer network. But it is not the medium of exchange token. Broadcasters use Ethereum's Ether (ETH) to broadcast video on the network. Nodes who contribute processing and bandwidth earn ETH in the form of fees from broadcasters. LPT is a staking token that participants who want to perform work on the network stake in order to coordinate how work gets distributed on the network, and to provide security that the work will get done honestly and correctly. LPT has the following purposes: It serves as a bonding mechanism in a delegated proof of stake system, in which stake is delegated towards transcoders (or validators) who participate in the protocol to transcode video and validate work. The token, and potential slashing that occurs due to protocol violation, is necessary in order to secure the network against a number of attacks. More below. It routes work through the network in proportion to the amount of staked and delegated token, essentially serving as a coordination mechanism. It is a unit of account that is specific to the Livepeer ecosystem, which forms the basis of a SectorCoin concept, applicable to additional functionality to be introduced in the future. Services such as DVR, closed captioning, ad insertion/monetization, and analytics can all plug into the Livepeer ecosystem and potentially make use of the security provided by staking LPT. An initial allocation of Livepeer Token will be distributed so that stakeholders can fulfill various roles in, and use the network, and then additional token will be issued according to algorithmically programmed issuance over time. Following the conventions of Ethereum and many popular ERC20 tokens, LPT will be divisible by 10 ^ 18, with larger denominations such as the LPT itself intended to be used for user level transactions such as staking, and smaller denominations intended to be used for protocol accounting.

Where can I buy LPT Crypto?

You can buy Livepeer on Uniswap.

Why should you buy Livepeer?

Livepeer is really one of a kind project. The roadmap is incredibly promising and if the dev team can keep up with the with it, it's only a matter of time for the market to catch up. It's a very risky play but one that can yield amazing profits. Do you own diligence and research the project further so you can make your own decision.

How to Buy Livepeer Crypto?

Step 1 - Setting up a Metamask Wallet

Metamask is by far the most used walled in the world of Ethereum. Whenever you want to buy and sell cryptocurrencies or even use blockchain apps that run on the Ethereum Network, Metamask will be your best friend. Setting up the wallet is also very simple and easy.

Head over to metamask.io and click Download. You'll need to use Google Chrome, Brave Browser, Firefox, or Microsoft Edge for this to work. So make sure you are using one of these four browsers. Now at the end of the page, click on the browser you're using and install the extension.

You are now the Welcome Page of Metamask. Click on 'Get Started.' Now click on 'Create a Wallet.' Choose a strong password for your Metamask wallet and continue.

Very Important Part! Keeping your backup phrase safe is the difference between having millions in your account or be that guy on the landfill looking for his old hard drive.

Click on reveal your backup phrase and write every word down on paper. Make sure you don't save your backup phrase on anything digital. This is for your security. After you wrote down your backup phrase, you'll be asked to confirm it. Click on every word in the correct order, and you should be done.

Step 2 - Buy Ethereum on Simpleswap

Simpleswap is the easiest way to buy crypto today. Free from registrations, KYC and third-party custody. With Simpleswap we can buy ETH and receive it directly on our on-chain Metamask wallet, skipping most of the steps we'd have to take through a traditional exchange.

Click here to access Simpleswap

Just click the Buy/Sell Crypto tab, insert the USD amount you want to trade for ETH, and click "Exchange", just like this:

Now all you have to do is click the Metamask fox logo to directly copy and paste your Metamask Ethereum address. It should add it automatically.

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 Metamask.

Step 3 - Buy Livepeer on Uniswap with ETH

Buy LPT on Uniswap with ETH

Uniswap is currently the number one Decentralized Exchanged in the world, and it's simply the best place to buy cryptocurrencies that aren't available on sites like Coinbase or Binance.

Before we head over to Uniswap, we need to prepare your Metamask Wallet to receive Livepeer. Open Metamask, scroll all the way down, and click here:

Select Custom Token and paste this token contract address there:

0x58b6a8a3302369daec383334672404ee733ab239

The rest should autofill, and you need to click next and then add tokens. Your account is now ready to receive Livepeer (LPT).

You can check the price and confirm the correct token address of Livepeer on Coingecko.

Let's buy some Livepeer!

Go to Uniswap. On the upper right corner, click on Connect Wallet and select Metamask. A confirmation popup should open on Metamask (click on the "little fox logo" if you don't see it). Now you need to accept, connect, and your wallet should be connected to Uniswap.

Select a token and paste the Token contract address: 0x58b6a8a3302369daec383334672404ee733ab239

Click Import and accept the terms.

Now you have to select the amount of ETH you want to trade for LPT. After you confirm it, another popup will appear from the Metamask extension and you should approve the transaction.

Wait a few minutes, and your LPT should appear on your Metamask Wallet.

Congratulations! You are now a proud Investor of Livepeer!

In case your transactions keep on failing, adjust your slippage tolerance. To do that, click on Uniswap's gear icon, and put 5% here:

Adjust slippage on uniswap