How to buy Litecoin (LTC) in the UK (2020)
Current Price: £40.76 24hr: 1.65%
Step 1: Buy Bitcoin
In this method, you will trade BTC for LTC using Binance exchange. Thus, in order to begin, you first need to acquire some Bitcoin (BTC)…
Buy Bitcoin: You can do this via the following self-explanatory services:
- CEX.io (recommended; buy with £GBP)
- Sign up for an account and buy BTC straight away with your debit or credit card, or bank transfer.
- Local Bitcoins (buy with £GBP)
- Buy BTC from other Brits using bank transfer.
- Coinbase (buy with EUR)
or, click here for a detailed guide on buying BTC in the UK
Waiting for a bank transfer or verification? Get a head-start by signing up for your Binance account while you wait…
Now that you have BTC, the process for buying LTC on Binance is as follows…
Step 2: Trade Bitcoin for Litecoin on Binance
- Register for a Binance account here
- Deposit Bitcoin into your account by heading to Funds -> Deposits Withdrawals in the top menu
- Click the + next to Bitcoin to reveal the wallet address – send Bitcoin here
- Once Bitcoin has reached your Binance wallet, head to Exchange -> Basic via the top navigation bar
- Use the panel to the right side of the screen (which shows many currency pairs alphabetically, starting AMB/BTC, ARK/BTC, etc.)
- Type IOTA in the search bar
- Click the LTC/BTC link to reach the market page
- See the Buy LTC panel (pictured below), set your Buy parameters, and click the big green button
- This places an order, which can be watched via the Orders tab in the top navigation bar
- When your order is filled, the exchange is complete, and your LiteCoin will appear in your Litecoin wallet under the Funds tab
Congratulations, you purchased Litecoin!
Litecoin Wallets: Safely Storing your LTC
We always recommend that you move your cryptocurrencies off of exchanges if you are planning to hold on to them. This way, you’ll hold the keys to your wallet, and therefore will truly own your coins.
Hardware Wallet (recommended)
The most secure option that we recommend is to purchase a hardware wallet: a small electronic device that is immune to many of the threats that software wallets face (such as viruses and hacks).
The most reputable and appropriate hardware wallet for most of our visitors is the Ledger Nano S, which allows you to securely store a number of cryptocurrencies, including Litecoin. You can see a full list of supported cryptocurrencies here.
If you’re not ready to buy a hardware wallet, you can also use a software wallet. We again warn you, however, that this leaves your coins vulnerable to attacks and malware, as well as a malfunctioning computer. If you choose to store your coins on a wallet, we recommend you choose one of the official wallets from the Litecoin website.