4. How to Buy Litecoin
Exchanges are one of the fastest, safest, and easiest ways to buy Litecoin. This guide will take you through how to get set up through Gemini. Click here to see if they allow trading in your area.
*Side note: You must be 18+ in order to buy on Gemini
Other Good Exchanges to Look Into:
Gemini
This is one of the most reputable exchanges in the Western Hemisphere. They work tirelessly to keep in line with U.S. regulations so you don’t have to worry about it being seized by the government. Also, all USD are FDIC insured. Government issued currency i.e. USD, EUR, and CAD, is also insured up to $250,000.
Step 1 (Referral Link)
Click on this referral link and fill out the information requested. Both you and I get $10 worth of free Bitcoin if you trade up to $100 in 30 days if you do!
Step 2 (Connect Your Bank Account - Mobile View)
The first screen you see on your left is the “Markets” page. Click on the bottom right “Account” button and from there, connect your bank account. One thing to note is that buying Litecoin is limited to $15,000 per week so fund your account using Wire Transfers for more sizable purchases.
Step 3 (Buy Litecoin)
Now that you have funded you’re account, it’s time to buy Litecoin. go back to the “Markets” tab on the bottom left and then click on the “Litecoin” market. From there, click the button “Buy.”
From here you can either make a one-time purchase or set up recurring purchases to dollar cost average your investments. Then choose the amount of LTC you want to buy in USD value.
Swipe right to confirm your order and you will have successfully bought Litecoin! It’s that easy.
It is also important to note that Gemini will charge you a fee if you buy LTC this way. If you’d like to buy Litecoin with less fees, log onto gemini.com and request for Active Trader. It is an extension of Gemini and is for more experienced traders. In order to use it, you will need to know how to place market orders. Also, it is not guaranteed that you will buy LTC when you submit an order. For newcomers, I highly suggest starting off with Gemini’s “Buy/Sell” option until you can learn more about limit orders.
Step 6 (Send Your Litecoin to Your Wallet Address)
To send your Litecoin to your desktop wallet like Electrum LTC, click on “Accounts” on the Gemini website and then “send” under your LTC wallet. From there you can copy and paste your address from your Electrum LTC wallet under “Recipient,” enter how much LTC you want to send, and push “Continue.” You will have to pay a small fee (typically .01 LTC) to give to miners who will verify your transaction.
The End!
If you bought Litecoin, then congratulations! I welcome you to the Lite Side. 😎.