How to Buy Litecoin (LTC) in Cyprus

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

Step 1 – Join Kraken

You will first need to buy units of the top-tier currencies. Exchanges usually accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for alternative Coins. Follow the Link below to register and getting your welcome Ethereum (ETH) or Bitcoin (BTC).

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

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

Make sure you've selected the right coin you wish to deposit.

Bitcoin must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, and so forth. If you're working with a decentralized exchange, such as Airswap or DDEX could be divergent (Just follow our how-to).

Step 3 – Find Litecoin (LTC)

Once your deposit has been verified, you'll now have access to your assets and you can commence purchasing and trading. To purchase (LTC) Litecoin on Binance, you'll want to hover over the tab which is called “Exchange” and after that click on “Basic”.

To find Litecoin (LTC), you'll need to insert the shortname of the coin (LTC) into the search box, which is marked in the graphic. Make sure you have choosen the right pairing, we've marked this also. Click on “LTC/BTC” to continue.

Step 4 – Buying Litecoin (LTC)

Once you've located Litecoin (LTC), you will be presented with a Chart with Prices (in the Center of the image) and some Order Books (on the Left of the picture). And now we're going to make our Limit Order.

The field with the “Price” tag will be filled automatically with the recent tariff (LTC) Litecoin was sold for. This can be changed to your desired price. The “Amount” field is the quantity of LTC you like to purchase. The field with the “Total” tag is the total price in BTC that you'll settle for the whole volumen of LTC.

If you're glad, make a mouse click on “Buy LTC”. Your plan will be filled when a Seller sells their LTC for the price you offered.

Step 5 – Withdraw (LTC) Litecoin

Unless you're frequently trading, never keep your coins on an Crypto Exchange for an extended time period. To take off your Litecoin (LTC), hover over the “Funds” tab and click on “Withdraw”. (LTC) Litecoin can be stored safely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (LTC) Litecoin by using the given drop-down box. Put into the quantity of Litecoin (LTC) you would wish to withdraw. Take into account the shown minimus/fees. Also make sure you have entered your correct withdraw address.

When you're satisfied, click on “Submit”. You may be asked for verfication via phone/email before a take off.

Congrats! You've successfully bought and stored Litecoin (LTC) in Cyprus.

That's it!

Take offs from Cryptocurrency Exchange can take anywhere from 1 – 30 minutes (depending on usage of the network). As soon as you have proved your withdrawal with Ethplorer.io or Etherscan.io and the Litecoin (LTC) is safe in your wallet, you are done.