How to buy Litecoin (LTC) in the UK
There are two main options for buying Litecoin (LTC) in the UK. The first will take two steps, as we are going to be buying the coin with Bitcoin (BTC) and then converting it to LTC on an exchange. Alternatively, you can buy LTC with GBP on Bittylicious, though rates may be less competitive. At the end of the guide, we recommend safe ways to store your Litecoin.
Option 1: BTC -> LTC with Bitfinex
In this method, you will trade BTC for LTC using Bitfinex 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:
Click here for a detailed guide on buying BTC in the UK
Now that you have BTC, the process for buying LTC on Bitfinex is as follows…
- 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
- Create an account at Bitfinex here
- Deposit BTC into your Bitfinex wallet…
- Click Deposit on the top bar menu
- Click Bitcoin
- Copy your Exchange Wallet address
- Send Bitcoin to this address, and wait for the transaction to receive the required confirmations
- Now that you have Bitcoin in your Bitfinex account, use the Trading menu option in the top-right of the screen to select LTC then LTC/BTC.
- Complete the Order Form on the left side to exchange your Bitcoin for Litecoin. Order form notes…
- Use Limit if you would like to set a price for your order – you can then type in values, or choose the highest bid or lowest ask using the green and red buttons above your BTC price
- Using Market will result in the order executing immediately according to the best market price available when the order is placed. Using this option ensures your order is fulfilled most rapidly, though you are unable to specify your desired price as in Limit
- Use the green button above AMOUNT LTC to use as much of your BTC balance as possible in the order, unless you wish to keep some Bitcoin on the exchange for other trades
- Click Exchange Buy to send your order to market, and wait for it to be filled. If you used a Limit order that isn’t being filled, you can always cancel the order and set a new one at a different price.
- When your order is fulfilled, your Litecoin (LTC) will appear in your Wallets area
Congratulations, you purchased Litecoin!
Option 2: Buy Litecoin with GBP on Bittylicious
If you don’t fancy using an exchange, you can buy Litecoins and other cyrptocurrencies such as Ethereum on Bittylicious. This site is solely dedicated to buying bitcoin and altcoins such as LTC with British Pounds (GBP), form other British sellers.
- Set up a wallet (if you haven’t already done so). We recommend Jaxx
- Head to Bittylicious and select ‘Litecoins’ from the coin drop-down
- Enter your Litecoin address (from the wallet you set up) and email address
- Specify the amount of LTC you’d like to purchase
- Choose whether you’d like to pay by bank transfer, credit/debit card, or Paym – Bank transfer is the cheapest option
- Hit Get some coins and follow the instructions
- Coins will be delivered to the wallet address you specified
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.