We know that all of your friends have been talking about cryptocurrencies in recent months. Maybe you are asking yourself what the craze is all about. But the cryptocurrency world is not as scary or complicated as it may sound. No, you don’t have to be a computer geek or a stock exchange guru in order to be successful. Most of the people who got rich within days are just lucky enough to have put a couple of hundred dollars into a currency that has had a price surge.
Now you are probably wondering how are going to hit the right currency and gain massive revenue. But let us tell you something – the crypto market is highly volatile and nothing guarantees success. However, if you consider yourself a newcomer you might want to start with something you can afford. Something, which doesn’t cost $15.000 dollars. If that is the case, we present you Litecoin.
Litecoin is a blockchain-based cryptocurrency that derived from the Bitcoin stem back in 2011. Former Bitcoin employee, Charlie Lee decided to develop a new digital currency, better than the one he worked for. Litecoin outperforms its big brother by transactions speed (4x faster) number of coins (4x more) and mining, as Litecoin requires cheaper mining hardware. Anyway, why put your money in Litecoin? As of 9.1.2018, one Litecoin token is traded for $241.61. Just one year ago, the price was $3.96. If you had bought Litecoin tokens for $1000 then, now you would have had just over $60 000. Doesn’t sound bad for a passive income, does it? Have a look at the charts.
Ok, let’s get things going. How on Earth do you buy Litecoins? Follow our step-by-step guide and get your tokens in a couple of minutes.
Step 1. Create an account in Coinbase.
You just have to enter your email to get things going.
Once you input valid email, you have to fill in your name as written in your ID/Passport. Coinbase had established itself as a trustworthy and secure marketplace. In order to keep up the good work, they require user verification. You should supply the platform with phone number, photo of your Passport or ID and verified credit/debit card or bank account.
Step 2. Choosing a payment method. In Coinbase you can purchase digital tokens via credit/debit card (fast and with higher fees) or via bank account (cheaper but slower).
When you click on the buy/sell button on the top menu you can enter the amount of Litecoins you’d like to purchase. Once you are ready click “Buy Litecoin Instantly”.
Step 3. Confirm your order.
Congratulations! You made it! You now own Litecoin. From now on, it is up to you how to store it. You can choose from keeping it in Coinbase or using a desktop/web wallet. A simple yet efficient way to keep your coins safe is just leaving them in your LTC wallet in Coinbase. Just make sure you have 2-factor authentication. It will prevent culprits from making transaction even if they manage to get your password.
We hope you enjoy your journey in the cryptocurrency world. And remember, trading with money might lead to massive losses as well as gains! Always take measured risks!
Note that cryptocurrencies are highly volatile and you may lose large sums of money in a couple of minutes! Take measured risks!