Buy Litentry (LIT)
What is Litentry?
Litentry is a parachain on the Polkadot network that focuses on giving users control over their data. Litentry accomplishes this by allowing users to link their data to various accounts and services, and then consent to the use of that data. Litentry also offers a number of other features, including the ability to create and manage decentralized identities, and access to a number of different data analysis tools. Litentry's parachain is designed to work with the Polkadot relay chain, providing a high degree of security and flexibility. In addition, Litentry is compatible with a number of different blockchains, making it easy to integrate into existing infrastructure. Litentry therefore offers an effective solution for those who want to take control of their data.
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Why buy Litentry with Anycoin?
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Balances in the Anycoin Vault, are kept in a foundation. This foundation has only one purpose, to preserve our customer funds. This construction ensures that customers are entitled to compensation in the unlikely event of Anycoin Direct's bankruptcy. In addition, we want to reiterate that we always want to give customers a choice between using the Anycoin Vault and sending coins to an external wallet.
Extra information about Litentry (LIT)
How can I store LIT?
You can store your LIT tokens in our Vault. Here your tokens can also be found in a well organized environment. From the Vault you can easily buy, sell and swap any cryptocurrency we offer for another cryptocurrency.
Can I buy LIT with iDEAL?
Yes, you can buy LIT with iDEAL at Anycoin Direct. You can also pay with Paypal, SEPA, Sofort, VISA, Mastercard and EPS.
Do you need to buy a whole LIT?
You don’t need to buy whole cryptocurrencies to trade them. You can buy small parts of any cryptocurrency. For example, on Anycoin Direct, the minimum purchase amount is €10.
Is it safe to buy LIT ?
Yes, buying LIT is safe with Anycoin Direct as we have advanced security techniques and are officially licensed by The Dutch Central Bank. Buy LIT safely with us with a wide range of payment options.
Is LIT legal in the UK?
Yes, LIT is legal in England. You don't have to worry about the legality of buying LIT .
Do I have to pay taxes on my cryptos?
Depending on the amount of cryptocurrencies you own and the country you live in, the rules for this are different. Always make sure to get information from your personal government authorities.
Can I buy LIT anonymously at Anycoin Direct?
No, identification is mandatory for all our clients. We are required to conduct a thorough client due diligence. This is done using the Know Your Customer principle.
Can I do a business transaction with Anycoin Direct?
Yes, it is possible to make a business transaction through Anycoin Direct. While creating an account, you can choose a business account.
What can LIT be used for?
Litentry has a cross-chain identity aggregator that secures sensitive user data. This can be used in the following cases:
Airdrop (Drop3 Platform)
Previously, users could get airdrops (receiving crypto coins for free) based on unique wallet addresses, but with Litentry it happens based on unique identity. As a result, people with multiple wallets do not directly have a better chance of winning an airdrop.
Each user has a unique ID; this is the only information available. In fact, there is no other information insightful about the user. This unique ID is linked to other platforms, for example, thus sharing data, but in a safe way.
The app can be used on other networks, using your wallet to verify your identity. You use the Litentry authenticator for this.
Additionally, the platform can also be used to independently share data with each other. That is, no third party can store data of your identity.
Who are the founders of Litentry?
Litentry was founded by Hanwen Cheng, a Chinese software developer who, for example, was the product owner of Parity, an Ethereum offline wallet. Litentry has offices in Berlin, Munich and Hangzhou, as well as many teams working from home spread around the world. Other than that, not much is known about the team behind Litentry.
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