How do I purchase litecoin?
The cryptocurrency revolution is in full force! More and more people own bitcoin or other cryptocurrencies. Litecoin is one of the oldest cryptocurrencies and is very popular, you can always find it in the coinmarketcap top ten.
Here you will find a quick guide on how to buy litecoin in three easy steps:
- Step 1: Register an account on BTC Direct
- Step 2: Create a wallet
- Step 3: Start an order
Step 1: Register an account on BTC Direct
In order to buy litecoin you will need to register an account on our platform first. If you haven’t done this yet, click ‘register’ in the top right corner of the screen. If you encounter any problems during the process please contact our support team, we’re happy to help!
When you create an account on BTC Direct we will ask you to identify yourself. We focus on providing a platform where you can buy and sell cryptocurrencies with the greatest of ease. However, offering services without identifying our users would open the door to illicit activity. For instance it could allow criminals to buy coins with a hacked bank account. We expect that laws and regulations will come into force in the nearby future. To ensure that our customers don’t experience any inconvenience to these potential regulations, we already have a clear KYC policy in place.
The documents we receive from you will be saved to an offline, encrypted hard drive. The provided documents are only available to selected BTC Direct employees, and will never be shared with third parties.
Step 2: Create a Wallet
You store cryptocurrencies in a so called wallet. A wallet is similar to a digital bank account. When you buy litecoin it’s important to create a wallet in which you can safely store your coins. Each wallet has its own receiving address that you can find when you’re signed in to the wallet.
There are many different types of wallets. Want to learn more about the differences between them? You can find more information in this article. We’ve also written an article on how to secure your wallet.
For this instruction we’ve chose the Electrum software wallet. You can download this wallet here: https://electrum-ltc.org/.
Step 3: Start an order
Did you receive a confirmation by email that your registration has been completed? Then it’s time to start your first order! Here we’ll explain how:
- Select litecoin in the calculator of our website.
- Enter the desired amount of litecoin, or the amount of euros you would like to spend and click ‘buy litecoin’. The minimum order amount is 10 euros, the maximum depends on your account limit.
- Now you will get to see an overview of your order. In this overview you will be asked to enter your wallets receiving address. You can find this address in your wallet. Please make sure to always copy and paste the address, never type it out manually
- Choose your payment method. Please note: you can only use a bank account that is registered in your own name.
- Check the order once more, read the terms and conditions and agree to them.
- After this, you will be asked to carefully check the order again. Is everything filled out correctly? Then you can release the order. Did you make a mistake? Please do not confirm the order but contact our support team instead, they will help you out.
When will I receive my litecoin?
In most cases it only takes ten minutes for the coins to appear in your wallet after we’ve received your payment. When you use a bank account or credit card that you haven’t used before on our platform it could take a little more time since we need to manually verify the account.
You now know how to register an account, create a wallet and start an order on our platform. Got any questions? Please check out our F.A.Q or contact our support team.