Everyone knows the original cryptocurrency Bitcoin, while only a few people outside of the cryptocurrency…
Make light work of buying Litecoin.
Charlie Lee created Litecoin in 2011, forking it from Bitcoin’s network. At the time, Charlie Lee’s main objective for the digital currency was to develop a lighter version of Bitcoin. That means cheaper, faster transactions with a secure LTC network for everyday use. Since then, it has remained as one of the most popular tokens to date, ranking as the fourth largest token in terms of market cap.
Read more about Litecoin in this coin profile.
How to create a Litecoin wallet
Sign up for a free Coindirect account and you will automatically get a free Litecoin online wallet . You can use your Litecoin wallet to buy, sell, store, send (withdraw) and receive (deposit) LTC.
How to create Litecoin address?
Once you have signed up for a free Coindirect account all you need to do press the ‘Receive’ button to reveal your Coindirect Litecoin wallet address.
How to buy Litecoin with a credit card?
- Sign up for a free Coindirect account
- Find your Litecoin Wallet and click the ‘Buy’ button in your Litecoin Wallet.
- Select “New VISA Card (EUR)” or “New credit card (NGN)” if you are in Nigeria.
- Enter EUR value of BTC you want to purchase (more than the minimum limit) or the BTC amount you want to buy and then click ‘Preview Buy’
- You will receive a quote, press ‘confirm’ before timer runs out (counts down from 55 seconds)
- Type in your credit card details and pay
- You will be taken to a page to verify your transaction
- Finally you will be redirected back to your Coindirect Wallet once the payment is successful
How to buy Litecoin from your bank account?
If you are in South Africa or in Europe in a SEPA country you can deposit ZAR and EUR into your Coindirect ZAR Wallet or Euro Wallet respectively.
To fund your account you have to transfer money using bank transfers. To get the funding instructions so that your account is credited:
- Go to your ZAR/EUR wallet and click the “Fund now” button. Alternatively click the Fund tab in your Coindirect wallet and click on “Transfer Now”.
- Select the bank to transfer to from the drop down menu to get payment details and the reference you should use (highlighted in blue)
- Transfer the money from your bank account into the account shown on the screen then wait for the bank transfer to be processed (0-3 business days depending on the bank).
- Once the funds reflect in your ZAR wallet, go to your Litecoin wallet and click “Buy” and select “Wallet (ZAR)” or “Wallet (EUR)” as you payment method.
How to sell Litecoin
You can sell Litecoin from your Coindirect wallet by clicking the ‘Sell’ button in your Litecoin wallet.
If you are in a SEPA region or South Africa. You can sell your Litecoin and instantly get money transferred to your Wallet (ZAR or EUR).
If you are in another region with no local currency wallet. You can sell your Litecoin by creating a sell offer on the marketplace.
You now know how to buy Litecoin instantly from almost anywhere in the world. Make sure to download the Coindirect App to trade Litecoin from the palm of your hands.
Credit card limits
Make sure that your account is verified so that your credit card purchase limits are increased.
Currently, the limits for credit card purchases in South Africa are:
Unverified users – R3000/€178
Verified users – R15000/€893
Share this post with your friends so they can purchase Litecoin using their credit cards. If you send them a link through the Earn program, you both will receive 5 XRP for free when they perform their first transaction.