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.

About LitecoinHow to buy Litecoin and where to store it

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

  1. 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.
  2. Log in to your newly created Coinbase account now and click on the Buy/Sell tab.
  3. Click on Litecoin now.
  4. Select your payment method i.e. Bank Deposit, VISA or Wire Transfer.
  5. 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.

  1. Open LiteVault and register using your email.
  2. Save your account identifier somewhere safe.
  3. Now in the LiteVault account, click on Generate new address.
  4. Copy your Litecoin address now and head over to Coinbase.
  5. 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.

Buy Bitcoin from Localbitcoins

  1. Open Localbitcoins.com and sign up. Use this link to sign up if you want to earn a little bit of reward. Go through the email confirmation and ID verification to be eligible to buy Bitcoin from LBC.
  2. Once done, Log in to your LocalBitcoins account.
  3. On the LocalBitcoins.com homepage, you will find options to buy Bitcoin Online, Bitcoin using Cash and some other options.
  4. The preferred option is to buy online. Choose the cheapest seller. Always check the limit of the seller and buy Bitcoin from the one that suits your limit.
  5. After selecting the seller, read the terms of trade and prepare your identity for verification.
  6. Begin the trade now. Transfer money to the seller and he will release your Bitcoin.
  7. The Bitcoin you just bought will appear in your LocalBitcoins wallet.

Step#2: Transfer Bitcoin to Binance

  1. It’s time to transfer the Bitcoin from Coinbase or Localbitcoins to Binance now.
  2. First of all, open Binance website and sign up. Use this link to sign up on Binance to earn a little bit of reward. Verify your identity as per the requirements of Binance.
  3. Now on Binance, click on Funds > Deposits > Select BTC and copy the Deposit address.
    • LocalBitcoins: Log in to your LocalBitcoins.com account and click on Wallet. Paste the Binance Bitcoin deposit address, enter the amount of BTC you want to send and then send it. You will get BTC in your Binance wallet in a few minutes.

Step#3: Trade Bitcoin for LTC (BTC LTC)

  1. Now that we have got the Bitcoin in Binance wallet, it’s time to trade it for LTC.
  2. Open Binance and log in.
  3. Now click on Exchange > Basic.
  4. From the right side, select LTC/BTC.
  5. Now from the right side, select the rate that suits you the most. It’s always recommended to place a low buy order. The red ones show the people who are selling. The sell orders from bottom to top are low to high and the green ones are buy orders, they are from top to bottom high to low.
  6. Enter the amount of LTC you want to purchase and also enter the rate at which you want to buy.
  7. Place the buy order. As soon as someone sells at your desired rate, you will get LTC in your Litecoin wallet at Binance.

 

More information on Litecoin:

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.