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How to buy Litecoin (LTC) – a step by step guide

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 act.

Note: Pictures can be clicked to see a larger version. If you’re confused by any terms used, a glossary can be found here.

Now you need to determine where you’re going to 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 vulnerable to having your coins stolen.

So, choose this option only if you’re certain you have good security practices and are adequately technically minded.

Wij all hear of computers and phones being hacked. Websites running illicit code to steal passwords. Phishers tricking people into clicking linksom 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 cork into your pc 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 specimen, 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.

Once you have your Ledger, here’s a step by step guide to setting it up.

Related movie: Mining Fantomcoin With Minergate

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