How to buy Litecoin (LTC) – a step by step guide
Litecoin is a peer-to-peer internet currency that enables instant, near-zero cost payments to anyone ter the world.
Each Litecoin represents the value of the currency on the blockchain.
This guide is not, and should not be regarded spil ‘investment advice’ or spil a ‘recommendation’ regarding a course of activity.
Note: Pictures can be clicked to see a larger version. If you’re confused by any terms used, a glossary can be found here.
If you use this listig to sign up to Coinbase wij’ll both receive ten dollars of free coins when you spend overheen $100 (or the omschrijving ter your currency).
Press the ‘sign up’ button and pack out your name (make sure this is exactly how it’s written on your photo ID), email, password and location.
Just like a US handelsbank, Coinbase is regulated by the US government, and has to go after rigorous financial rules. So they take verifying your identity very gravely. It’s a agony, but it does give Coinbase a reputation for being the most trusted way to convert fiat currency to cryptocurrency.
To verify your account you vereiste supply a phone number, upload an pic of your photo ID and verify a credit/debit card or bankgebouw account before you can buy.
Note: If you have problems verifiying your ID using your laptop, attempt downloading the Coinbase app (on Iphone or Android), signing into your Coinbase account and verifying your ID using your phone camera.
Using a credit/debit card on Coinbase means higher fees but offers instant purchasing. Using a canap transfer is cheaper but slower (taking up to a week to get your coins).
Merienda your payment details are verified, click ‘buy/sell’ on the top spijskaart.
Select ‘Litecoin’, and at the bottom of the pagina choose how much to spend ter your específico currency / how many coins you want to buy.
Merienda you’re glad with the amount, click the big ‘Buy’ button.
You’ll be asked to confirm your purchase.
Press the ‘Confirm Buy’ button.
Congratulations! You now own some Litecoin.
Now you need to determine where you’re going to store your Litecoin. There are three options:
This is the easiest option, and pretty safe (spil long spil you enable 2-factor authentication). But exchanges have bot hacked before, and many people simply choose having their coins under their own control.
There are slew of wallets out there, for desktop and mobile, and a utter list of Litecoin approved wallets can be found te the ‘download’ section of their official webpagina.
Storing your coins ter a wallet on your laptop is spil safe spil you make it- if you lose or leave behind your password you can lock your coins away forever, or if your laptop is hacked and security compromised you can be relajado to having your coins stolen.
So, choose this option only if you’re certain you have good security practices and are reasonably technically minded.
Wij all hear of computers and phones being hacked. Websites running illicit code to steal passwords. Phishers tricking people into clicking linksaf that steal information from their computers.
Another line of defence to keep our coins from being siphoned out of our wallets is essential.
And that’s a hardware wallet.
Hardware wallets butt-plug into your rekentuig like a USB stick, and they have one job- to be a firewall inbetween your coins and the outside world.
To do this, they encrypt the private keys to your cryptocurrency wallets so that no-one- not even you- can know them. That way only someone with physical access to your hardware wallet- and who also knows its password- has a chance to access and stir your coins.
Their basic proefje, the Nano S, makes it effortless to manage your coins- it’s klein and discreet, and wallet management is achieved through a petite LCD screen and two buttons.
Their cutting-edge Ledger Blue is more astounding, permitting you to treat your coins with a pad-like interface, and is regarded spil the most advanced product on the market.
Merienda you have your Ledger, here’s a step by step guide to setting it up.