How to buy LockTrip (LOC) in Australia
Learn how to buy LockTrip (LOC) on 3+ crypto exchanges in our step-by-step guide.
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You can buy LockTrip (LOC) on a cryptocurrency exchange like KuCoin. These specialised marketplaces that allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. LockTrip is a blockchain-based travel marketplace that allows users to search and book hotel rooms all across the world by eliminating middlemen. Here's how to buy LockTrip.
How to buy LockTrip in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
- Compare crypto exchangesThe easiest way to buy LockTrip is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
- Create an account To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
- Make a depositOnce verified, you can deposit $ using the payment method that best suits you – cryptocurrency, PayPal, wire transfer and credit or debit card payments are widely accepted.
- Buy LockTrip You can now exchange your funds for LockTrip. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your LockTrip to your personal wallet.
Where to buy LockTrip in Australia
Find an exchange to buy, sell and trade LOC by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy LockTrip?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Australia to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy LockTrip?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading LockTrip.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing LOC with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
Where can I buy LockTrip with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy LOC with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy LOC on the following exchanges:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase LOC by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for LOC on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy LockTrip?
The easiest way to buy LOC is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying LOC, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of LockTrip has been performing recently.
Best LockTrip wallets to store your LOC
You can keep your LOC on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Is LockTrip a good investment?Below are a few aspects which you should be aware of before you invest in LOC:
- Supply. There is a limited supply of LOC tokens of 18,585,933 tokens. Unlike many inflationary tokens in the market, these tokens being limited could often entail them being perceived as being more scarce and thus, highly valued. With each booking being made, the supply would keep shrinking.
- Smart Contracts. The platform runs on smart contracts which enable managing customer/host relationships and is programmed to manage scenarios with the native utility token, LOC. The LockTrip dApp is built on the Ethereum Virtual Machine (EVM) serving as a single open-source location, free to use by anyone across the globe, where all properties/hotels available for booking will be visible to all.
- Lower cost. The purpose of the LockTrip project is to connect customers to the property owners/hotels directly. This would mean removing the middlemen involved which would result in lower travel expenses for customers and more competitive pricing for hotels and property owners, on average passing on a benefit of about 20% to the customer.
- Roadmap. LockTrip developers are expanding the use case of the dApp which currently includes booking hotels and flights. The team has plans to expand into other service areas including parking spot rental, bike rental, car rentals. They also have a project in the entertainment industry called EVEDO, which is in the IEO stage and will be built on the LockTrip blockchain so it can leverage its unique features.
Additional information about LockTrip can be found using our LOC analysis tools.
Today's LockTrip price versus ATH
Compare today's price of LockTrip ($1.24 USD) against its all-time-high price of $2020-11-13T14:39:33.891Z USD on 01 January 1970. The closer the bar is to 100%, the closer LOC is to reaching its ATH again.
ATH date: November 13, 2020
LockTrip ATH: $11.34 USD
How to trade, convert or sell LockTripYou can convert or sell your LOC with the same exchange you bought it through:
- Sign in to the exchange you have LOC on.
- If you store your LockTrip in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of LOC you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of LockTrip.
- Complete your transaction and move your LOC to a wallet for storage.
Disclaimer: Cryptocurrencies, including LockTrip, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of LOC 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 LockTrip or any other cryptocurrency discussed.
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