Litecoin First Time Buyer's Guide - How to Buy Litecoin (Bitcoin Ethereum)
First ( to the newcomers)
Make sure you have a secure wallet set up to receive your Litecoins to. I recommend using a Paper wallet or the official Litecoin client.
I highly recommend you purchase a small amount first. Send it to your wallet, send it around, buy some small things, and get a feel for how to send and receive Litecoins to different wallets first. Once you're comfortable using the Litecoin network, then invest more.
I say this because Litecoin is decentralized and there's no head office or customer service desk to call if you make a mistake. If you make a boo boo, then it's bye bye to your coins! So that's why I recommend you make any mistakes with a small amount vs a large one.
Now lets get into the methods to buy Litecoin
1) Flagship Exchange
Pros
Instant exchange at current market rates
Deposit or withdraw funds right from bank
Cons
Must be 18+
Need an account
Some require ID verification
Some have buy/sell limits
Could be hacked
Some Flagship Exchanges
https://www.coinbase.com/
https://www.kraken.com/
https://www.bitstamp.net/
2) Altcoin Exchange
Pros
Instant exchange at current market rates
Some Exchanges (like ShapeShift.io) don't require an account or ID
Cons
Need an account
Some require ID verification
Some have trade or withdraw limits
Could be hacked
Litecoin Altcoin Exchanges
http://www.changer.com/?refid=158583 (no account needed)
https://shapeshift.io/#/coins (no account needed)
https://www.cryptopia.co.nz/
https://bittrex.com/
3) Litecoin ATMs
Pros
Instant exchange
Some have no ID requirements
Some have no buy limits
Coins can’t be lost due to hack
Cons
High percentage markups
Some require ID, phone number, and even fingerprint
Some have limits
Litecoin ATM Location Finders
https://www.athenabitcoin.com/locations/
https://coinatmradar.com/country/226/bitcoin-atm-united-states/
4) Localbitcoins.com (and like sites)
Pros
Instant exchange
Some traders have no ID requirements
No buy limits
Cons
Scammers
You may have to meet in person
Some traders have high percentage markups
Some traders require ID and/or phone number
Some Examples
https://localbitcoins.com
https://www.litecoinlocal.net/
https://paxful.com/
5) Sell your things directly for Litecoins
Pros
Get rid off extra stuff you already have
Possibly higher profit margin for your business
Cons
Must have something to sell
Getting sales can be challenge
Exposure to extreme price volatility
Some Sell Your Stuff Sites
https://bitify.com/
https://www.cryptopia.co.nz/MarketPlace
https://glyde.com/bitcoin
https://www.bitpremier.com/
That's it!
I wish you the best on your Litecoin journey! Be sure to follow me on steemit and check the other links below for more Litecoin info.
Follow me on Steemit:
https://steemit.com/@coinstar1337
Litecoin Charts
https://bitcoinwisdom.com/markets/bitfinex/ltcusd
Get Litecoin @ https://Litecoin.org/