This is a detailed guide to buy Litecoin which goes by the symbol LTC. Apart from learning how to buy LTC, you will also learn where to buy LTC. The guide will also explain where to store LTC and how to set up Litecoin wallet.
Litecoin is pretty similar to Litecoin. It is actually a clone of the Litecoin. Litecoin has often referred to Litecoin what Silver is to Gold. Litecoin fixes a lot of problems that Litecoin seems to be facing. Litecoin consumes heavy resources to perform a transaction. This makes Litecoin consume a lot of time as well. Whereas, the Litecoin doesn’t consume a lot of resources and it also performs the transactions in the least amount of time.
Another difference between the Litecoin and the Litecoin is the supply. There are only 21 Million Bitcoins that will ever be mined while there are 84 Million Litecoins in the world. Litecoin has existed for last 9 years. Its age adds up the trust as well. Litecoin is a good alternative to avoid heavy fees and also to save some time.
How to buy Litecoin (LTC)
Step#1: Buy Litecoin
Litecoin can be purchased directly from Coinbase using a credit card or a bank account. Here are the steps to buy Litecoin from Coinbase.
Buy Litecoin from Coinbase
- Open Coinbase website and sign-up. Go through the email confirmation, verification (provide your phone number and your ID) in order to complete the sign-up procedure on Coinbase.
- Log in to your newly created Coinbase account now and click on the Buy/Sell tab.
- Click on Litecoin now.
- Select your payment method i.e. Bank Deposit, VISA or Wire Transfer.
- Fill up the on-screen details now to get the Litecoin now. Your Litecoin will appear in the Accounts tab.
Step#4: Store LTC in Litecoin Wallet – LiteVault Web Wallet
Litecoin has a variety of wallets. To store Litecoin for now, I have selected the LiteVault Wallet. It’s an online secure wallet and it’s quite efficient. Here’s how to store your Litecoin in the LiteVault.
- Open LiteVault and register using your email.
- Save your account identifier somewhere safe.
- Now in the LiteVault account, click on Generate new address.
- Copy your Litecoin address now and head over to Coinbase.
- Now open Coinbase and click on Accounts. Under accounts, you will find options to Send and Recieve Litecoin. Click on Send and paste the Litevault Litecoin deposit address here. Enter the amount of Litecoin you want to send and then send it. It will take a few minutes for you to receive Litecoin.
Just in case Coinbase does not support your country, you will have to buy Bitcoin from Localbitcoins and then transfer it to Binance to exchange it for Litecoin. Click on the Localbitcoins method button below to access it.
More information on Litecoin:
- Litecoin Price Tracker – CryptoPit Coin Price Tracker
- Litecoin Official Website – litecoin.com
- Reddit Community – r/litecoin/
- Litecoin Wallet – All Litecoin Wallets
- Github – Github Repository
- Exchanges – Coinbase | Binance
Important Note: This guide is for educational purposes only. This should not be taken as a piece of advice. Our mission is only to help you buy a certain currency. Always follow the golden rule of cryptocurrency investment that says: Invest what you are willing to lose. Cryptocurrency is a highly risky investment. DYOR before investing.