A Step-by-Step-Guide on how to buy Litecoin (LTC)
Step 1 – Signup to CEX.io In the beginning you'll need to buy one of the major currencies. Exchanges commonly accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for alternative Coins. Click the button below for registration and to get your Bitcoin (BTC) or Ethereum (ETH).
Step 2 – Transmit Your Funds to an Exchange Your Ethereum or Bitcoin has to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is alike. Litecoin (LTC) is accessible on Binance, so we will use that as an sample. Not sure on how to send funds from Coinbase to an Crypto Exchange? (Follow this guide) Make sure you've selected the right coin you want to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, and so forth. In the case you're dealing with a decentralized exchange, like Airswap or DDEX could be different (Follow our how-to).
Step 3 – Find Litecoin (LTC) As soon as your deposit has been approved, you'll now have access to your finances and you can commence purchasing and trading. To buy Litecoin (LTC) on Binance, you will want to hover over the ”Exchange” tab and after that click on “Basic”. To spot Litecoin (LTC), you'll need to insert the short name of the asset (LTC) into the search box, which is marked in the image. Be certain of having selected the proper grouping, we've highlighted this too. Click on “LTC/BTC” to go ahead.
Step 4 – Purchase Litecoin (LTC) As soon as you have discovered Litecoin (LTC), you'll be presented with a Chart with Prices (in the Center of the image) and some Order Books (on the Left of the image). For now we're going to create our own Limit Order. The ”Price” field will be automatically filled with the most latest price Litecoin (LTC) was sold for. You can change this to your favoured rate. The ”Amount” field is the volumen of LTC you wish to buy. The field with the “Total” tag is the total price in Bitcoin that you'll pay for the whole amount of LTC. When you're happy, click on “Buy LTC”. Your plan will be filled as soon as a Vender trades their LTC for the price you gave.
Step 5 – Withdraw Litecoin (LTC) Unless you are frequently trading, never keep your crypto coins on an Exchange for an extensive time period. In order to withdraw your Litecoin (LTC), go to the ”Funds” tab and click on “Withdraw”. Litecoin (LTC) can be securely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Locate Litecoin (LTC) by using the given drop-down box. Put into the volumen of Litecoin (LTC) you would like to take off. Don't forget the presented minimus/fees. Also make sure you have filled your precise withdraw address. If you're glad, click “Submit”. You may be asked for email/phone verification ahead of a withdrawal.