A Step-by-Step-Guide on how to buy Litecoin (LTC) in Faroe Islands
Step 1 – Join Kraken In the beginning you'll need to buy one of the bigger currencies. Exchanges commonly accept either Bitcoin or Ethereum in exchange for any other Cryptocurrency. Click below to register and to get your welcome Bitcoin (BTC) or Ethereum (ETH).
Step 2 – Transmit Your Ethereum or Bitcoin to an Exchange Your Ethereum (ETH) or Bitcoin (BTC) will need to be sent over to an Exchange now. Every exchange has a deposit form that is identical. Litecoin (LTC) is obtainable on Binance, so we will use that as an sample. Unsure on how to send funds from Coinbase to an Crypto Trader? (Follow this manual) Make sure you've chosen the exact coin you want to deposit. Bitcoin must be sent to a BTC deposit address, ETH to an Ethereum deposit address, etcetera. If you're dealing with a decentralized exchange, like Airswap or DDEX could be different (Follow these easy steps).
Step 3 – Locate (LTC) Litecoin As soon as your deposit has been approved, you will directly have access to your funds and you can commence invest and trading. To purchase (LTC) Litecoin on Binance, you'll want to hover over the tab which is called “Exchange” and then mouse click on “Basic”. In order to discover (LTC) Litecoin, you'll need to insert the shortname of the coin (LTC) into the search box, which is highlighted in the picture. Be certain of having selected the proper pairing, we have highlighted this also. Click on “LTC/BTC” to progress.
Step 4 – Acquisition of (LTC) Litecoin After you have found (LTC) Litecoin, you will be presented with a Price Chart (in the Center of the image) and a few Order Books (on the Left of the picture). For now we are going to create our Limit Order. The “Price” field will be filled with the recent price Litecoin (LTC) was sold for. This can be changed to your desired price. The field with the “Amount” tag is the quantity of LTC you wish to buy. The “Total” field is the aggregated price in BTC that you will settle for the complete quantity of LTC. If you are satisfied, click on “Buy LTC”. Your plan will be filled as soon as a Vendor sells their LTC for the price you offered.
Step 5 – Withdraw Litecoin (LTC) Unless you are trading, best advise is not to keep your crypto coins on an Crypto Exchange for an longer time period. In order to take off your (LTC) Litecoin, hover over the tab called “Funds” and click on “Withdraw”. Litecoin (LTC) can be safely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate (LTC) Litecoin by using the provided drop-down box. Enter the amount of (LTC) Litecoin you'd wish to withdraw. Don't forget the shown fees/minimums. Also make sure you have entered your correct withdraw address. When you're satisfied, click “Submit”. You could be requested for email/phone verification ahead of a withdrawal.