So you want to get your hands on some litecoin as you believe that, just as with bitcoin, it has a bright future. However, you do not have the patience, the will or the computing power to accrue your litecoin through the mining process. Don’t worry! Just as with bitcoin, it is possible to buy litecoin either through a litecoin exchange or on the open market. Let’s take a look at your options.

1. www.livebitcoinnews.com Bitcoin Network, News, Charts, Guides and Analysis
How Can I Buy Litecoin?
So you want to get your hands on some litecoin as you believe that, just as
with bitcoin, it has a bright future. However, you do not have the patience,
the will or the computing power to accrue your litecoin through the mining
process. Don’t worry! Just as with bitcoin, it is possible to buy litecoin
either through a litecoin exchange or on the open market. Let’s take a look
at your options.

2. How Can I Buy Litecoin? LiveBitcoinNews.Com
Use an exchange
So, the first option is through an exchange. Many of the more reputable
bitcoin exchanges will also offer you the option of converting your
traditional fiat currency into litecoin. In order to do this, simply open an
account with the exchange of your choice (make sure you do your
research has bitcoin exchanges are not yet regulated and you want to
make sure that you go with an exchange you can trust). Having opened
your account, deposit your domestic fiat currency. You can then use this
currency to buy litecoin. Once bought, the litecoin will appear in your
account balance and you can withdraw to the litecoin address. As a quick
aside, we covered how to set up a litecoin address in the previous lesson
but if you’re short on time, simply go to the litecoin website at
www.litecoin.org – you will likely be required to offer some form of ID to the
exchange you choose so as they can verify your identification. Don’t be
concerned about this, it’s completely normal and standard operating
procedure across the reputable exchanges.

3. How Can I Buy Litecoin? LiveBitcoinNews.Com
Buy on the open market
Just as with bitcoin, it is also possible to buy litecoin on the open market.
There are numerous websites that bring together potential buyers and
sellers of litecoin in return for what often amounts to a small percentage of
the overall transaction. As ever, just as you would if you are buying
something on eBay, make sure you check the reputation of the seller
before handing over your traditional fiat currency. The seller you choose
should have strong feedback across the platform through which you have
decided to transact. All you need to do is give your chosen seller the
address of your litecoin wallet, transfer than your funds and check your
wallet to ensure they have been sent.
So now you know how to buy, sell, store and mine bitcoin litecoin. But what
can you do with them? What are the current laws surrounding any capital
gains or taxation etc.? Find out here…