How to Buy Litecoin (LTC) in Cayman Islands

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

Step 1 – Join Kraken

You will first need to buy units of the bigger currencies. Exchanges commonly accept either Ethereum or Bitcoin in exchange for alternative Coins. Click below to register and getting your welcome Ethereum (ETH) or Bitcoin (BTC).

Step 2 – Send Your Ethereum or Bitcoin to an Crypto Exchange

Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Exchange now. All exchanges have a deposit form that is identical. Litecoin (LTC) is available on Binance, so we're going to use that as an illustration. Not sure on how to send Coinbase funds to an Crypto Exchange? (Just follow this how-to)

Make sure you have selected the correct coin you wish to deposit.

BTC must be sent to a BTC deposit address, ETH to an Ethereum deposit address, and so forth. In the case you are working with a decentralized exchange, like Airswap or DDEX could be different (Just follow our guide).

Step 3 – Find Litecoin (LTC)

Once your deposit has been approved, you will directly have access to your assets and you can launch invest and trading. To invest in (LTC) Litecoin on Binance, you will want to hover over the “Exchange” tab and click on “Basic”.

To spot Litecoin (LTC), you will need to insert the short name of the asset (LTC) into the search-box, which is highlighted in the graphic. Be certain of having selected the correct pairing, we've marked this too. Click on “LTC/BTC” to proceed.

Step 4 – Purchase Litecoin (LTC)

As soon as you've found (LTC) Litecoin, you will be presented with a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the picture). For now we're creating our own Limit Order.

The “Price” field will be filled with the most latest rate (LTC) Litecoin was sold for. This can be changed to your desired price. The field with the “Amount” tag is the amount of LTC you like to purchase. The “Total” field is the total price in Bitcoin that you will pay for the whole volumen of LTC.

If you're satisfied, click on “Buy LTC”. Your order will be filled when a Vender trades their LTC for the price you submitted.

Step 5 – Withdraw (LTC) Litecoin

Unless you're trading, best advise is not to keep crypto on an Crypto Exchange for an longer period of time. To withdraw your Litecoin (LTC), hover over the “Funds” tab and mouse click on “Withdraw”. Litecoin (LTC) can be stored securely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

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

If you are happy, make a mouse click on “Submit”. You may be asked for phone/email verification before a withdrawal.

Kudos! You have successfully bought and stored (LTC) Litecoin in Cayman Islands.

That's it!

Take offs from Cryptocurrency Exchange can durate anywhere from 1 – 30 minutes (depending on usage of the network). Once you have proved your withdrawal using Etherscan.io or Ethplorer.io and the Litecoin (LTC) is safe inside your wallet, you're done.