How to Buy Litecoin (LTC) in Canada

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

Step 1 – Join Kraken

You will first need to buy units of the top-tier coins. Exchanges usually accept either Ethereum or Bitcoin in exchange for any other Cryptocurrency. Follow the Link below for registration and to get your first Ethereum or Bitcoin.

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

Your Bitcoin or Ethereum will need to be sent over to an Exchange now. Every exchange has a deposit form that is similar. Litecoin (LTC) is obtainable on Binance, so we will use that as an example. Unsure on how to send Coinbase funds to an Cryptocurrency Exchange? (Follow these easy steps)

Make sure you have chosen the precise coin you want to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, and so on. If you are dealing with a decentralized exchange, such as Airswap or DDEX could be unlike (Just follow our manual).

Step 3 – Find Litecoin (LTC)

Once your deposit has been approved, you will instantly have access to your finances and you can commence purchasing and trading. To purchase Litecoin (LTC) on Binance, you will want to go to the tab which is called “Exchange” and click on “Basic”.

In order to discover (LTC) Litecoin, you'll need to insert the short name of the asset (LTC) into the search-box, which is marked in the image. Be certain of having choosen the right grouping, we have highlighted this too. Click on “LTC/BTC” to continue.

Step 4 – Purchase (LTC) Litecoin

After you've located (LTC) Litecoin, you'll be presented with a Chart with Prices (in the Center of the picture) and some Order Books (on the Left of the image). For now we're creating our own Limit Order.

The “Price” field will be filled with the up-to-date rate Litecoin (LTC) was traded for. You can change this to your favoured rate. The “Amount” field is the quantity of LTC you like to purchase. The “Total” field is the whole price in BTC that you will settle for the complete volumen of LTC.

If you are satisfied, click on “Buy LTC”. Your order will be filled as soon as a Seller trades their LTC for the price you submitted.

Step 5 – Withdraw (LTC) Litecoin

Unless you are regularly trading, best advise is not to keep coins on an Cryptocurrency Exchange for an longer time frame. To take off your (LTC) Litecoin, go to the “Funds” tab and mouse click on “Withdraw”. Litecoin (LTC) can be stored safely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (LTC) Litecoin by using the given drop-down box. Drop in the quantity of (LTC) Litecoin you'd like to withdraw. Take into account the demonstrated fees/minimums. Also make sure you have entered your correct withdraw address.

When you are glad, make a mouse click on “Submit”. You may be asked for verfication via phone/email ahead of a take off.

Congratulations! You have successfully bought and safed (LTC) Litecoin in Canada.

That's it!

Withdrawals from Cryptocurrency Exchange can durate between 1 – 30 minutes (depending on usage of the network). Once you have proved your withdrawal using Etherscan.io or Ethplorer.io and the (LTC) Litecoin is safe in your wallet, you are finished.