How to Buy Litecoin (LTC) in Australia

A Step-by-Step-Guide on how to buy Litecoin (LTC) in Australia

Step 1 – Signup to Kraken

You'll first need to purchase one of the bigger coins. Exchanges normally accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for any other Cryptocurrency. Follow the Link below to register and getting your welcome Bitcoin (BTC) or Ethereum (ETH).

Step 2 – Transmit Your Bitcoin (BTC) or Ethereum (ETH) to an Cryptocurrency Exchange

Your BTC (Bitcoin) or ETH (Ethereum) will need to be sent over to an Exchange now. Every exchange has a deposit form that is identical. Litecoin (LTC) is available on Binance, so we're going to use that as an sample. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Follow this how-to)

Make sure you've chosen the exact coin you want to deposit.

BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, et cetera. If you're using a decentralized exchange, like Airswap or DDEX could be divergent (Follow our how-to).

Step 3 – Find (LTC) Litecoin

As soon as your deposit has been affirmed, you'll directly have access to your assets and you can launch invest and trading. To invest in (LTC) Litecoin on Binance, you'll want to hover over the tab which is called “Exchange” and after that click on “Basic”.

In order to discover (LTC) Litecoin, you will need to put the shortname of the coin (LTC) into the search-box, which is highlighted in the image. Be certain of having selected the correct grouping, we have highlighted this also. Click on “LTC/BTC” to continue.

Step 4 – Buy Litecoin (LTC)

As soon as you've discovered (LTC) Litecoin, you will be presented with a Price Chart (in the Center of the image) and some Order Books (Leftside of the picture). Next we are creating our own Limit Order.

The field with the “Price” tag will be automatically filled with the up-to-date tariff (LTC) Litecoin was traded for. You can change this to your favoured rate. The field with the “Amount” tag is the amount of LTC you want to buy. The field with the “Total” tag is the aggregated price in BTC that you will pay for the complete quantity of LTC.

If you are glad, click on “Buy LTC”. Your plan will be filled as soon as a Vender trades their LTC for the price you offered.

Step 5 – Withdraw Litecoin (LTC)

Unless you're regularly trading, you should never keepyour coins on an Cryptocurrency Exchange for an extended time frame. In order to take off your Litecoin (LTC), hover over the “Funds” tab and mouse click on “Withdraw”. (LTC) Litecoin can be safely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find Litecoin (LTC) by using the given drop-down box. Enter the amount of (LTC) Litecoin you would like to withdraw. Don't forget the displayed fees/minimums. Also make sure you have filled your precise withdraw address.

When you're satisfied, click on “Submit”. You could be requested for verfication via email/phone before a withdrawal.

Congrats! You have successfully purchased and stored (LTC) Litecoin in Australia.

That's it!

Take offs from Crypto Exchange can take between 1 – 30 minutes (rely on usage of the network). Once you've proved your take off using Ethplorer.io or Etherscan.io and the Litecoin (LTC) is safe in your wallet, you're done.