CryptocurrencyLitecoin

How to Buy Litecoin? [Step by Step Guide]

Read our full guide on how to buy Litecoin

If you are here this is because you want to know how to buy Litecoin (LTC). This is a question that many users and investors are currently making. This is due to the fact that Litecoin is one of the most popular and useful virtual currencies in the world. 

In this step by step guide on how to buy Litecoin you will have all the necessary information to acquire this virtual currency. You will know where to get this digital asset and how to store it later. If you want to sell Litecoin you will also have valuable information. 

How to Buy Litecoin? 

This is the step by step guide on how to buy Litecoin. Follow this guide and you will have your first LTC with you. 

Step 1 – Create an Exchange Account

The first thing you have to do to buy Litecoin is to create an exchange account. This is going to be the easiest way on how to buy Litecoin. You will have to select the exchange you want to use. Remember not all the platforms will be available in your country. 

Binance would be a great platform to use because it supports credit and debit card purchases. This is similar to what Coinbase is currently doing. However, with Coinbase you will also be able to link your bank account to your account. 

Some other exchanges include Kraken, Bithumb, Bitstamp, KuCoin and many others. The platform you select will depend on your needs and the digital assets you want to buy. 

Step 2 – Deposit Funds to the Exchange

The second step will be to deposit money. Depending on the exchange you are using this will work in a slightly different way. If you are using Binance, then you can purchase digital assets with debit or credit cards.

If you are using Coinbase or Bitstamp, you can link your bank accounts and make a transfer of EUR or other fiat currencies supported by each of the platforms. If instead, you do not want to use credit/debit cards or a bank transfer, you will have to deposit virtual currencies. 

Go to the “deposit” tab in the exchange you use and select the virtual currency you want to deposit. 

As you can see in the image below, you see the deposit section in Binance:

This is going to make it very easy for you to get access to Litecoin. 

Step 3 – Buy Litecoin

Now, the goal is to buy Litecoin. If you acquired Litecoin using a credit or debit card, then you can avoid this step. If you have processed a transaction from your bank account, then you can go to the exchange section on the platform you are using and go to the LTC markets. 

If you deposited cryptocurrencies such as Bitcoin (BTC) or Ethereum (ETH) in order to buy Litecoin, then you will have to also go to the exchange and acquire Litecoin. As you can see in the Binance platform, you can easily buy Litecoin. 

You will have to select the amounts of funds you want to acquire and open a limit or market order. 

Step 4 – Store Your Litecoin

Although this is a guide on how to buy Litecoin, you will also have to withdraw your Litecoin and store them properly. Exchanges can be a good way to get access to Litecoin but it is not usually a good place where to store your funds. 

You will have to find a Litecoin wallet. For example, the safest wallets include hardware solutions such as Ledger or Trezor. These two are the best solutions to store Litecoin. However, holding your coins in other platforms can also be a good solution if you do not have a hardware wallet.

Two other options include desktop wallets or mobile wallets. These will be very useful as long as you hold your private keys. This will prove you are the real owner of your funds. 

Conclusion – How to Buy Litecoin?

This guide about how to buy Litecoin (LTC) will be very useful if you want to get access to Litecoin. This virtual currency could become a very useful cryptocurrency in the future as the entire market continues to grow and evolve. 

Litecoin could become a key player as the virtual currency is going to have privacy-focused solutions and features. Furthermore, the fast transactions it can process could be very positive for investors to buy Litecoin and to get access to one of the most popular virtual currencies in the world. 

Tags

Related Articles

Back to top button