How to Buy Litecoin (LTC) in South Africa

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

Step 1 – Signup to Kraken

You'll first need to purchase one of the bigger currencies. Exchanges normally accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for Altcoins. Click below for registration and receive your first ETH (Ethereum) or BTC (Bitcoin).

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

Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is alike. Litecoin (LTC) is obtainable on Binance, so we're going to use that as an sample. Unsure on how to send Coinbase funds to an Exchange? (Just follow this manual)

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

BTC must be sent to a BTC deposit address, ETH to an Ethereum deposit address, et cetera. In the case you are working with a decentralized exchange, like Airswap or DDEX could be opposed (Follow these easy steps).

Step 3 – Locate (LTC) Litecoin

Once your deposit has been affirmed, you'll now have access to your finances and you can commence purchasing and trading. To buy (LTC) Litecoin on Binance, you'll 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 cointype (LTC) into the search-box, which is highlighted in the graphic. Be certain of having selected the proper pairing, we've highlighted this too. Click on “LTC/BTC” to progress.

Step 4 – Purchasing Litecoin (LTC)

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

The “Price” field will be filled with the up-to-date rate (LTC) Litecoin was sold for. This can be changed to your favoured price. The field with the “Amount” tag is the amount of LTC you like to buy. The “Total” field is the total price in BTC that you will pay for the complete amount of LTC.

If you're glad, make a mouse click on “Buy LTC”. Your plan will be filled as soon as a Vendor trades their LTC for the price you offered.

Step 5 – Withdraw (LTC) Litecoin

Unless you're frequently trading, best advise is not to keep your coins on an Cryptocurrency Exchange for an extended time period. In order to take off your (LTC) Litecoin, hover over the tab called “Funds” and mouse click on “Withdraw”. (LTC) Litecoin can be stored safely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Find (LTC) Litecoin by using the given drop-down box. Drop in the amount of (LTC) Litecoin you would like to take off. Take into account the displayed minimus/fees. Also make sure you have entered your right withdraw address.

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

Kudos! You have successfully purchased and stored Litecoin (LTC) in South Africa.

That's it!

Withdrawals from Crypto Exchange can durate anywhere from 1 – 30 minutes (rely on usage of the network). As soon as you've proved your withdrawal with Etherscan.io or Ethplorer.io and the (LTC) Litecoin is stored in your wallet, you're done.