Litentry (LIT) is a cross-chain identity aggregator that enables decentralised identification (DID) aggregation, verification and credit calculation, allowing users identities to be linked to multiple distributed protocols. Litentry collects and distributes DIDs to different blockchains. The network features an identity matching and identity staking mechanism.
Litentry is built on the substrate network, a platform that is natively compatible with Polkadot (DOT). Substrate is working towards eradicating identity redundancy in the Web3-powered application ecosystem.
LIT is the native utility token of Litentry and performs a number of different functions. LIT tokens are primarily used as a reward for indexed identity databases and as a fee for credit/reputation computation. Additionally, these tokens are also used for staking purposes and secure on-chain governance.
The best place to buy Litentry is right here at Swyftx! Swyftx offers a fast, secure, and user-friendly platform that allows traders to easily deposit Australian dollars to trade Bitcoin and other cryptocurrencies instantly. We offer competitive fees and excellent customer support and we are proud to be Australia's highest-rated crypto exchange as per our Trust Pilot Reviews.
Yes, Swyftx is a safe and secure platform to buy and sell Litentry (LIT). Swyftx employs a range of advanced security measures to protect user funds and personal information and has been awarded ISO27001 certification for information security.
Swyftx is a AUSTRAC registered exchange that conducts regular security audits and maintains strict compliance with Australian Anti-Money Laundering and Counter-Terrorism Financing Laws.
You can find more information on our security practices here.
The price of LIT is determined by the forces of supply and demand in the market. Similar to other assets, the price of Bitcoin is determined by the number of buyers and sellers in the market at any given time.
Some significant factors that can influence the demand for Bitcoin are adoption rates, Macro economic factors, News events, upgrades and advancements in its tech and investor sentiment.
You can deposit Australian dollars (AUD) into Swyftx via a number of methods including:
Swyftx also allows you to deposit cryptocurrency from another wallet into your account.
Swyftx does not allow you to directly buy Litentry with credit card, however, we do support credit and debit card deposits. Once your deposit has arrived in your account, you can then buy LIT instantly.
Swyftx has a trading fee of 0.6% for all buy and sell orders. In addition to the trading fee, Swyftx applies a spread to each cryptocurrency trade.
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