How To Buy Lympo (LYM)?

A common question you often see on social media from crypto beginners is “Where can I buy Lympo?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process. 

Step 1: Create an account on an exchange that supports Lympo (LYM)

First, you will need to open an account on a cryptocurrency exchange that supports Lympo (LYM).
We recommend the following based on functionality, reputation, security, support and fees:

In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.

Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.

Step 2: Deposit funds into your account

Many cryptocurrency exchanges will allow you to purchase Lympo (LYM) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.

Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.

Step 3: Buy Lympo (LYM)

This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Lympo (LYM) or Lympo (LYM) trading pairs. Look for the section that will allow you to buy Lympo (LYM), and enter the amount of the cryptocurrency that you want to spend for Lympo (LYM) or the amount of fiat currency that you want to spend towards buying Lympo (LYM). The exchange will then calculate the equivalent amount of Lympo (LYM) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of Lympo (LYM) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.

Alternative ways to buy Lympo (LYM)

Because the project is very new, it is only offered directly on a select number of exchanges. If you’re not comfortable connecting your bank account to any of these smaller exchanges, or if you cannot connect your bank account to them for geographical reasons. Then you can instead create an account on any of the major exchanges and simply transfer the funds from there.
Out of the major exchanges we recommend the following based on functionality, reputation, security, support and fees:

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

Simplecryptoguide.com

What Is Lympo (LYM)?

Built on the Ethereum blockchain, Lympo aims to make the world a healthier place by creating a fair user-generated health and fitness data ecosystem where individuals and companies can trade data fair and square using the Lympo token (LYM).

The ultimate Lympo goal is to establish a marketplace where the harvested data can be used efficiently, and every ecosystem player is treated fairly. Think of Airbnb or Uber, but for matching people with sports and wellness specialists.

The Lympo ecosystem is designed for:

• Data owners. Individuals who generate data by using mHealth devices and apps for health benefits.
• Gyms, trainers, insurers, physicians, sports inventory creators – parties which can use data to improve current equipment, workouts, regimens, plans and health of their clients.
• Data proxies and processing businesses. Lympo API will empower third-party companies to develop data-driven healthcare solutions.

What Problems Does Lympo Solve?

People are growing increasingly concerned about their health, lifestyle, and well-being. This trend reflects well on consumer behavior – the growing demand for different health apps, wearables, devices, growing interest in sports and mindfulness activities like yoga, meditation or healthy food choices.

All these trends are also the driving force behind booming mobile health (mHealth) and wearables tech market which has experienced immense growth in recent years. Such a shift in consumers lifestyle choices also presents many new challenges and opportunities for both users and entrepreneurs.

One of the major issues is lack of cohesiveness, interconnectivity, and cooperation between users, companies and their data. For instance, many phones and wearables can track users activity level, eating habits, measure heart rate, sleep cycles or even blood pressure. Such data is rich with valuable information and is sought by various companies and researchers. However, large quantities of data collected by mHealth apps and devices are not cross compatible and lack a single universal point of access.

Lympo bridges the gap by introducing a new fair mobile health data system that incentivizes users for getting healthier and sharing their data. It also brings more transparency and control in the space. Eventually, Lympo wants to become the standard go-to point for all the stakeholders in the emerging niche.

Many players can benefit from the Lympo solution. Users will get benefits from the marketplace. The new clients will easily discover gyms and personal trainers. Businesses will have a chance to obtain the data directly from their users and use it to personalize services and offers.

Finally, a highly segmented market and insufficient incentives present a serious challenge with far-reaching implications. A well-adopted universal solution could lead to the development of new wave applications, services, and tools to improve medical care, insurance policies, and data-driven sports analytics.

Long story short, Lympo seeks to disrupt the health and fitness data market by:

• Rewarding users for reaching their health goals with cryptocurrency.
• Bringing control of the user data back to users hands.
• Improving users privacy.
• Enabling data sharing.
• Bringing more transparency in the data acquisition process for all stakeholders, including individuals, trainers, health organizations and research companies.
• Fostering innovation in the space.

How Does Lympo Work?

The Lympo ecosystem consists of the Lympo platform and its core components, Ethereum blockchain and smart contracts, user community and various health and wellness service providers.

It is secured by the Ethereum blockchain which enables the exchange of value with Lympo utility tokens. It means that all users have access to all data generated on the network and the record of previous transactions.

However, personal user data is not stored in the blockchain itself. Instead, it is kept on servers in the peer-to-peer network. The blockchain element mainly serves as the payment network and processing tool that enforces the exchange of data. All on and off-chain data is secured using end-to-end encryption.

User-generated data can be imported from different devices, like smart health apps, wearables, and electronic fitness devices, gyms and fitness centers, and even medical records.

The Lympo ecosystem is composed of three parts:

• Lympo digital wallet and reward mechanisms.
• Lympo marketplace.
• Lympo crowdfunding and investment platform.

The Lympo Digital Wallet and Reward Mechanisms

Mobile Lympo fitness wallet is at the heart of the Lympo ecosystem and functions as a gateway for onboarding users. It allows creating a profile, fill in the health data and connects to user’s favorite sports and health trackers.

The users receive rewards in LYM tokens for sharing their data. The app also has an integrated feature that allows personal trainers and coaches to challenge clients to achieve individual goals and receive tokens for their efforts.

Lympo Marketplace

The Lympo marketplace lists all goods and services on the platform. Users can spend their tokens to find the best personal trainer, premium features of the platform (etc. to increase exposure or extra options for health and sports data storage), purchase health and wellness products offered by Lympo partners, healthy food and supplement providers.

Lympo Crowdfunding Platform

Lympo crowdfunding platform is an investment hub which provides LYM holders an opportunity to invest in promising fitness, wellness, and health startups. Major market players will rate the opportunities, and these will also benefit from the extra exposure. Investment transactions will be conducted with LYM tokens only.

What is the LYM token?

The LMT token is a fungible cryptographic token initially released on the Ethereum blockchain. LMT is the main utility token to mint and purchase sports collectible digital cards that represent unique content stored on blockchain.

In Phase 1 of the Lympo NFT platform, Lympo will issue a predefined set of digital sports collectible cards in the form of NFTs, featuring world-famous athletes and clubs, influencers, and O’Lympians (which are custom characters sport hero characters created by Lympo). These unique collectible cards can only be obtained via staking of LTM tokens during Phase 1, but will later become available for purchase using LTM tokens.

In Phase 2 of the Lympo NFT platform, various content and entertainment activities will be launched to activate the NFTs minted in Phase 1. They will include sports games with LMT being the main utility token and in-game currency.

These games will implement a Play-to-Earn model. Game players will be able to utilize their Lympo digital sports collectible cards to create and upgrade their sports hero characters, and then form teams, play against other players, and win tournaments, earning rewards with real-world values.

Lympo development updates in 2023

Lympo has seen significant developments in 2023, focusing on integrating blockchain technology with the world of sports and expanding its market presence:

• Blockchain and Sports Integration: Lympo is actively forging the future of blockchain and sports, emphasizing the use of its platform in the sports industry. This includes initiatives like NFT staking, where users can stake NFTs to earn rewards, and NFT minting, which allows the staking of tokens to obtain NFTs. An upcoming game titled “Anichess” is also part of Lympo’s expansion into the gaming domain.

• $SPORT Token for LMT Owners: Lympo has introduced the $SPORT token for LMT token owners. This initiative involves two snapshot claims: the first allows LMT token owners before January 10, 2022, to claim $SPORT tokens at a 1:1 ratio, and the second snapshot offers $SPORT tokens to those who bought LMT tokens between January 10th and January 16th, 2022, which will be vested over three years.

• Lympo Athletes Program: The platform has recruited top athletes, immortalizing their career highlights in licensed NFT collections exclusively available on Lympo. This list includes prominent figures from various sports like chess, football, basketball, MMA, rugby, swimming, and cricket.

• Market Performance: As of the latest data, Lympo’s (LYM) price is around $0.003356, showing a 4.67% change in the last 24 hours. The market cap stands at approximately $2,773,923, placing it in the mid-lower range in the cryptocurrency market ranking.

• Community and Global Reach: Lympo continues to grow its community and user base. The platform’s focus on sports, health, and wellness through blockchain technology appeals to a diverse audience, contributing to its global presence in the crypto market.

These developments indicate Lympo’s commitment to integrating blockchain technology with sports and fitness, along with expanding its offerings in the NFT space and cryptocurrency market​​​​​​.

Official website: https://nft.lympo.io/

Best cryptocurrency wallet for Lympo (LYM)

There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.

HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for Lympo (LYM)?

Deciding which type of wallet to use depends on a variety of factors, including:

• How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades. 
• What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
• Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
• How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
• What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.

For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.

If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.

Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).

Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).