Just as gold and silver are often viewed as complementary investments, Litecoin (LTC) can be seen as the digital silver to the digital gold Bitcoin (BTC). There are multiple crypto exchanges for buying and trading Litecoin. We'll show you how to buy Litecoin (LTC) on Binance through this step-by-step guide.
Where To Buy Litecoin?
Some of the most popular exchanges to buy LTC include Binance, Coinbase, KuCoin, and Kraken. When choosing an exchange to purchase LTC, it's essential to consider factors such as fees, security, user interface, and supported payment methods. It's also important to note that some exchanges may only be available in some countries or regions.
Step-By-Step Guide On How To Buy Litecoin:
Follow the below steps to buy Litecoin using the Binance exchange.
Step 1: Register for a Binance account
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The first step is to register for a Binance account; if you already have a Binance account, you can skip this step.
To register, visit the Binance website and click on the "Register" button at the top right-hand corner of the page. You will then be prompted to enter your email address and create a password. You can also use the main sign-up with an email or phone option.
After completing this step, you will receive an email confirmation from Binance.
Create an account using your personal phone number or email address on Binance. Registering as an entity if you want to buy Litecoin as a Limited company business on the Binance exchange is also an option.
Step 2: Verify your identity on Binance
Before you can buy LTC on Binance, you will need to verify your identity. To do this, click the "Profile" button on the top right-hand corner of the page and select "Identity Verification."
Follow the instructions provided by Binance to complete the verification process.
To complete your Binance registration process and start buying crypto on the Binance platform, you must submit a valid government-issued passport or Driving license based on your country of residence.
Step 3: Buy LTC
There are numerous ways to buy Litecoin on the Binance exchange, and it all comes down to your preference. We will explore some popular methods to buy Litecoin on Binance.
Option 1: Fund your Binance account with crypto
This method is helpful for anyone who owns crypto on other platforms or wallets. Once you have transferred your Bitcoin to a Binance account, you can buy Litecoin with Bitcoin as Binance supports trading BTC/LTC pair.
After verifying your identity, you can fund your Binance account with crypto. To do this, click the "Deposit" button on the top right-hand corner of the page. You will then be prompted to select the cryptocurrency you want to deposit. Select the cryptocurrency you wish to deposit and follow the instructions provided by Binance. Once your cryptocurrency has been deposited, you can proceed to buy LTC.