How to buy Lido Staked Ether (STETH) in Australia

Lido Staked Ether
STETH- USD
$3,874.61
- $49.83 ( - 1.27%)

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How to buy Lido Staked Ether

Look for an exchange that supports both fiat and cryptocurrency to simplify buying Lido Staked Ether.

  1. Open an account on an exchange that supports STETH.
    Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
  2. Deposit funds into your account.
    Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Lido Staked Ether.
  3. Buy Lido Staked Ether.
    Complete your Lido Staked Ether purchase and then find the best wallet to store STETH.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is Lido Staked Ether?

stETH tokens are the basis of the Lido staking solution, which allows users to enjoy the benefits of staking Ethereum 2.0 while still retaining their Ethereum 1.0 holdings. This is a workaround for one of the chief issues raised by the ETH 2.0 rollout – if you stake your original ETH on the new chain, the wait for transactions to be enabled could be up to 3 years, during which your ETH will be irreversibly locked. According to Stakehound, Lido allows users to stake ETH on the ETH 2.0 chain, and in exchange offers stETH tokens that are correlated 1:1 with the value of these original ETH holdings. Although they are technically derivatives, they can be used in all the same ways, granting holders valuable liquidity they’d otherwise be denied.

Lido Staked Ether (STETH) is the 37th largest cryptocurrency in the world by market cap, valued at $5,349,514,491. The current price of Lido Staked Ether is $3831.84, which is -0.387% lower than yesterday. Prices have ranged between $3929.61 and $3791.34 over the past 24 hours. All prices are listed in US dollars and accurate as of October 17, 2021 05:10 UTC.

Where to buy

Unfortunately, at this time no major exchanges offer this coin. However, you may be able to purchase it with another cryptocurrency, just be sure you're following all legal restrictions and requirements.

Consider buying a different cryptocurrency after comparing popular exchanges.

Lido Staked Ether at a glance

Information last updated October 17, 2021 05:10 UTC.
Coin symbolSTETH
Coin MarketcapUS$5,349,514,491
Total STETH supply1,396,069
Circulating STETH1,396,069
Current priceUS$3831.84
All time highUS$4,309.29
IndustryLiquid staking
Token usesStaking, rewards
NetworkEthereum

Lido Staked Ether price performance over time

Historical prices compared with the price of US$3831.84.

1 hour -0.57%
24 hours -0.39%
7 days 7.51%
14 days 13.58%
30 days 8.35%
60 days 26.72%
200 days 119.97%
1 yearN/A

How to sell Lido Staked Ether

You can cash out your STETH with the same exchange you bought it through:

  1. Sign in to the exchange you have STETH on.
    If you store your Lido Staked Ether in a digital wallet, compare crypto exchanges to sell it on.
  2. Place a sell order.
    Choose the amount of STETH you'd like to sell.
  3. Complete your transaction.
    Confirm the sell price and fees and close your sale of Lido Staked Ether.

What to consider when buying Lido Staked Ether

Ethereum’s upgrade is one of the biggest developments in crypto, and its transition to proof-of-stake is a clear demonstration of where the future of the space lies. However, there are a number of factors that should be considered before purchasing stETH:
  • Purpose. All stETH in circulation is created by people using Lido to stake their original ETH. Buying stETH instead of ETH means you won't have access to the rewards from staking. The main purpose of stETH is to allow ETH owners to get more flexibility out of their staked ETH.
  • Fees. Commissions are high for delegation of tokens for staking – Lido pockets a cool 20% of your returns.
  • Use case of tokens. These coins are not actually ETH, so can’t be used to pay gas fees and your staking rewards are in stETH, not ETH. Returns from staking could balance this out, but this will be a risk factor for some users. Tokens can only be used in DeFi apps that accept stETH.
  • Risk. It is always worth considering the risk that the ETH 2.0 project fails or is delayed in some way.

Disclaimer: Cryptocurrencies, including Lido Staked Ether, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of STETH is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Lido Staked Ether or any other cryptocurrency discussed.

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