Beginner – s Guide to Buying Litecoin (LTC) te 2018
A Step-by-Step Beginner’s Guide
Buying cryptocurrency doesn’t have to be complicated!
Go after the steps below to get began investing ter Litecoin (LTC).
Step 1: Buy Bitcoin (BTC)
Exchange your fiat currency for Bitcoin at a top exchange.
I use Coinbase because it is one of the longest running and most reputable places to buy Bitcoin. It also has a well designed and easy-to-use interface.
After signing up and ID verification, you can buy Bitcoin with major currencies (USD, EUR, GBP, etc.) via online canap transfer or with credit/debit card.
Other good places to buy Bitcoin are:
- CEX.IO (Worldwide online)
- LocalBitcoins (Worldwide peer-to-peer marketplace)
Step Two: Open an account with an exchange that trades Litecoin
Now that you have some Bitcoin, you need a place to trade it for LTC.
Here is a list of online exchanges where LTC can be bought and sold:
Exchanges are listed te order of trade volume (descending).
This list is current spil of March 2018.
Step Trio: Get your Bitcoin address
After opening an account at one of the exchanges above, obtain your BTC wallet address.
The details for obtaining a wallet address vary from exchange to exchange, but it is usually relatively straightforward.
Make sure to get your “deposit” or “receiver” address.
It will be a long string of random characters, looking something like this:
Copy this address for the next step. (Your own unique address of course, not the address above!)
Step Four: Send Bitcoin to your fresh wallet address
Send Bitcoin from your Coinbase account (or any other account/wallet funded with BTC) to your receiver BTC address from the step above.
Step Five: Trade BTC for LTC
After you receive the BTC ter your secondary exchange account (it usually takes a few minutes) you can trade it for Litecoin within the exchange.
The details for trading currencies vary depending on the exchange.
Generally, you will look for the LTC/BTC trading pair and buy or “place an order” to buy LTC with your BTC arqueo.
Your order may pack instantly or after a brief while. If there is a delay, it is usually to find sufficient matching “sell” order(s) for your buy order.
Step 6 (Optional): Store your Litecoin te a private wallet
Now that you’ve got some coin, you can just leave it at the exchange where you bought it. Maybe you want to hold your LTC or maybe you want to trade it for other coins.
Another option is to stir your coins to a wallet.
Here is a list of wallets that hold LTC:
There may also be a coin-specific Litecoin wallet, which you can search for here.
Ter genérico, there are different types of wallets – hardware, desktop/software, mobile, web or paper. Some have cross-functionality but most are dedicated to single toneel. Each type of wallet has different pros and cons but they all provide the benefit of having an extra place to store your digital currency.
Enlargened security may be advantage of storing your coins te a private wallet, since exchanges have bot hacked te the past. It can also be good to have a backup location to store your LTC and will give you options for moving your coins ter the future.
About this guide
This is intended spil a beginner’s “101” guide that provides a quick and effortless route for acquiring Litecoin.
There are many subtleties and best practices (such spil using secure passwords, 2-factor authentication, etc.) to consider when buying digital currencies. There are slew of sites out there that provide a wealth of information about cryptocurrency and altcoins. The point of this guide is to simplify the discussion a bit for the universal objective of purchasing LTC. Spil always, use common sense .