How to buy Litecoin

How to buy Litecoin

How-to-buy-Litecoin

With Litecoin’s price exploding this week, lots of people are trying to enter the market but have no idea on how to buy them. Getting money in to BTC-e.com is quite cumbersome and with the local Litecoin vendors running out of stock within a short period of time, investors and interested parties are unable to get their hands on any Litecoin.

 

Litecoin is a faster version of Bitcoin that uses a larger memory intensive algorithm known as Scrypt. In the crypto-currency world, Litecoin has a huge potential. The local Litecoin business has just started and doesn’t have the infrastructure that Bitcoin has. Being new in the market, online payment systems and exchanges for Litecoin are still under development so it will be easier in the future.

 

The best way to get Litecoin now

Surprisingly the easiest way to enter the Litecoin market is to take your Bitcoin and turn it in to Litecoin. We will highlight the various ways to buy Litecoin.

How-to-buy-Litecoin-02

 

How to buy Litecoin (USA)

  1. Sign up for an exchange account with BTC-E.
  2. Sign up for an online payment system account with Coinbase.
  3. Link your banking account to Coinbase.
  4. With the bank account linked, buy Bitcoin from Coinbase.
  5. In BTC-E, go to the Finance section to generate bitcoin deposit address. Copy the address.
  6. In Coinbase, go to the Send/Request section to send Bitcoin to the BTC-E bitcoin deposit address. Paste the address generated from BTC-E.
  7. When the Bitcoin deposit shows up at BTC-E, go to the LTC/BTC section to purchase the amount of Litecoin that you want.

Note: To sell Litecoin for USD, reverse the transaction (sell LTC to BTC, transfer BTC to Coinbase, sell BTC, transfer USD to bank).

 

How to buy Litecoin (Europe-method 1)

  1. Sign up for an exchange account with BTC-E.
  2. Wire transfer/deposit funds in to BTC-E with one of the approved methods under Finance section of BTC-E.
  3. In BTC-E, go to EUR/LTC section to purchase the amount of Litecoin that you want.

Note: To sell Litecoin for EUR, reverse the transaction (sell LTC to EUR, transfer EUR to bank)

 

How to buy Litecoin (Europe-method 2)

  1. Sign up for an exchange account with BTC-E.
  2. Sign up for an online payment system account with Bitstamp.
  3. Wire transfer/deposit funds in to Bitstamp account under Deposit section (SEPA/International bank).
  4. Wait for the deposit to appear in Bitstamp.
  5. Buy Bitcoin from Bitstamp under Buy/Sell section.
  6. In BTC-E, go to the Finance section to generate bitcoin deposit address. Copy the address.
  7. In Bitstamp, go to the Withdrawal section to transfer Bitcoin to the BTC-E bitcoin deposit address. Paste the address generated from BTC-E.
  8. When the Bitcoin deposit shows up at BTC-E, go to the LTC/BTC section to purchase the amount of Litecoin that you want.

Note: To sell Litecoin for EUR, reverse the transaction (sell LTC to BTC, transfer BTC to Bitstamp, sell BTC, transfer EUR to bank).

 

How to buy Litecoin (International-method 1)

  1. Sign up for an exchange account with BTC-E.
  2. Sign up for an online payment system account with PerfectMoney.
  3. Wire transfer/deposit funds in to PerfectMoney account under Deposit section (International bank).
  4. Wait for the deposit to appear in PerfectMoney.
  5. In BTC-E, go to the Finance section then under USD, select Deposit. Choose payment method as PerfectMoney.
  6. In BTC-E, go to LTC/USD section to purchase the amount of Litecoin that you want.

Note: To sell Litecoin for USD, reverse the transaction (sell LTC to USD, transfer USD to PerfectMoney, transfer USD to bank).

 

How to buy Litecoin (International-method 2)

There is another option to buy Litecoins, that is through trading with local BTC vendors.

  1. Sign up for an exchange account with BTC-E.
  2. Locate a local BTC vendor or go to Localbitcoins.com.
  3. Trade Bitcoin in Localbitcoins.com with cash or with online transfers. As with all online trades, choose a seller with a good reputation. Learn more about your first trade in Localbitcoins.com.
  4. After the transaction has been successful, wait for the Bitcoin to appear in Localbitcoins.com.
  5. In BTC-E, go to the Finance section to generate bitcoin deposit address. Copy the address.
  6. In Localbitcoins.com, go to the Wallet section to transfer Bitcoin to the BTC-E bitcoin deposit address. Paste the address generated from BTC-E.
  7. When the Bitcoin deposit shows up at BTC-E, go to the LTC/BTC section to purchase the amount of Litecoin that you want.

 

Purchased Litecoin can be stored at BTC-E exchange or transferred to a Litecoin wallet on your computer. For large quantities of coins though, it is not recommended to store the Litecoin in the exchange or online wallet. Whenever possible, use the two-factor authentication and strong passwords to protect your crypto-currency investment.

 

Update: Added a new method for international investors to buy Litecoin with PerfectMoney.


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