How to Buy Litecoin (LTC) in Iceland

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

Step 1 – Join Kraken

In the beginning you'll need to purchase units of the bigger currencies. Exchanges usually accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for Altcoins. Click below to register and receive your welcome Ethereum or Bitcoin.

Step 2 – Transfer Your Ethereum or Bitcoin to an Crypto Trader

Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is alike. Litecoin (LTC) is obtainable on Binance, so we will use that as an example. Not sure on how to send Coinbase funds to an Exchange? (Just follow this manual)

Make sure you've chosen the right coin you would like to deposit.

BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, and so forth. If you are dealing with a decentralized exchange, such as Airswap or DDEX could be opposed (Follow our manual).

Step 3 – Locate Litecoin (LTC)

As soon as your deposit has been approved, you will now have access to your assets and you can start buying and trading. To purchase (LTC) Litecoin on Binance, you'll want to go to the “Exchange” tab and after that mouse click on “Basic”.

To discover (LTC) Litecoin, you'll need to insert the short name of the asset (LTC) into the search-box, which is highlighted in the picture. Make sure you have selected the proper pairing, we've marked this too. Click on “LTC/BTC” to go on.

Step 4 – Acquisition of (LTC) Litecoin

As soon as you've located Litecoin (LTC), you'll be presented with a Price Chart (in the Center of the picture) and some Order Books (Leftside of the image). And now we are making our Limit Order.

The field with the “Price” tag will be filled automatically with the most latest tariff (LTC) Litecoin 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 purchase. The “Total” field is the aggregated price in Bitcoin that you'll settle for the complete volumen of LTC.

If you are satisfied, click on “Buy LTC”. Your order will be filled when a Vendor sells their LTC for the price you offered.

Step 5 – Withdraw Litecoin (LTC)

Unless you're trading, never keep your coins on an Crypto Trader for an extended period of time. 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, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (LTC) Litecoin by using the provided drop-down box. Put into the quantity of (LTC) Litecoin you'd like to withdraw. Take into account the demonstrated minimus/fees. Also make sure you have filled your correct withdraw address.

When you are happy, click “Submit”. You could be asked for verfication via email/phone ahead of a take off.

Congrats! You've successfully bought and safed Litecoin (LTC) in Iceland.

That's it!

Take offs from Crypto Trader can durate between 1 – 30 minutes (rely on network usage). As soon as you have confirmed your take off using Etherscan.io or Ethplorer.io and the Litecoin (LTC) is safe in your wallet, you are all done.