How to Buy Livepeer (LPT)

Livepeer is an Ethereum-based network for video transcoding, released in 2018. The major reason for designing such a network was to reduce the costs that video streaming had before. Livepeer is a scalable Platform As-a-Service (PaaS) for startups or organizations to add live or on-demand videos more easily. It reformats videos so that anyone with any range of bandwidth or any device can see them without any problem. Therefore, Livepeer makes streaming more reliable and cost-effective. It can reduce the cost of video streaming by up to 50x compared to previous methods.

LPT is the official token of this network that is mainly used to secure the network and support the video encoding process. Livepeer Token (LPT) is an ERC-20 token that is used to coordinate with participants on the Livepeer network. LPT holders can make money on the Livepeer platform. They are either called orchestrators or delegators. Depending on their role, every video they broadcast will have a reward for them, which will be paid in Ether, or a stable coin such as DAI. The maximum supply of LPT is around 25 million tokens, and almost 23 million are in circulation. LPT set its highest price record of $101 per token in November 2021 and showed it could be a profitable investment.

Livepeer uses a two-layer consensus mechanism that is a combination of the Ethereum blockchain and a Delegated Proof-of-Stake (DPoS) security model, which guarantees the security of this network. Apart from its network, Livepeer Token is also secure. If you want to use the tokens for different processes on the platform, it is better to choose a software wallet. But if you consider buying LTP as an investment, hardware wallets are more protected.

LTP is mostly considered a rewarding coin that is used on the Livepeer network. People who want to stream a video on this platform can spend their coins on the network. In addition, LTP owners with more streaming videos will receive Ether or DAI rewards. Therefore, people can make money by using their LPT coins and streaming videos. LPT also has other uses, such as staking, trading, or voting. Therefore, LTP owners can also use their coins to vote to make changes on the network.

Without a doubt, one of the main reasons for buying coins is their probable investment profit. LPT is one of the popular coins that has shown it could be a profitable investment. Therefore, you can buy Livepeer Tokens from a trusted exchange like Blocktrade, keep them in a secure wallet and wait until their price rises. However, you should know that the future of cryptocurrencies is not predictable. Even if the price predictions of a coin show it will be profitable, any incident might change everything. Therefore, if you are a beginner in this world, it is recommended to invest as much as you can afford to lose. You can make an exit point for your investment to avoid any loss.