A Quick Start Guide to Litecoin
Where Do I Buy Litecoin?
One of the safest and most secure ways to buy Litecoin is through verified cryptoexchanges. I personally recommend Coinbase.
This guide will take you through the process step-by-step for Coinbase. It also has a list of other recommended exchanges.
Where Do I Store Litecoin?
If you keep cash in a wallet, then you keep Litecoin in a Litecoin wallet. The recommended Litecoin wallet for newcomers is Electrum-LTC. It's simple, fast, and easy to use. Click on the Electrum-LTC logo below for a guide on how to properly set up your Litecoin wallet.
However if you have a little extra cash to spend, I highly recommend a hardware wallet as it is one of the most secure ways to store your Litecoin. Read more about the advantages of a hardware wallet here.
How Do I Send Litecoin to My Wallet?
You can send Litecoin to a Litecoin address like you would send e-mails to an e-mail address. The difference is that Litecoin wallets will give you hundreds of Litecoin addresses. This helps protect your identity and pseudoanonymity. If you click on the "Receive" tab, Electrum-LTC will automatically select a Litecoin address that you can use. Copy that.
Now go back into your Coinbase account -> Accounts-> LTC Wallet->send-> paste the Litecoin address you copied from Electrum-LTC.
It is very important that you copy the right address. Sending it to the wrong Litecoin address is like sending an e-mail to the wrong e-mail address. You'll never get it back.
Confirm That Your Received It
Wait a few minutes to confirm that your Electrum-LTC shows the correct balance of Litecoin. This usually takes 2.5 minutes.
You are now a proud owner of Litecoin. Please take your time reading through the Litecoin 101: Newcomer Guides to learn more about blockchain technology and how to keep your Litecoins safe!
Remember to share with your friends and donate below! Until next time, onwards and upwards. 😁
Official Litecoin Websites:
- www.reddit.com/r/litecoin (I’m a moderator here. Come say hi!)
- Official Litecoin Community Chatting Channels: Discord, Telegram, IRC.
L.S.C. Donation Addresses
BTC: 3HFCMjr6xQKSfmU7wCPzrZJVvgwrdf7Qzd (Segwit address. Legacy and Segwit chains accepted)