How To Buy Litecoin

**UPDATE Jul 2017 – NOTE: BTC-e is no longer trading, it was shut down in July 2017.**

There are numerous cryptocurrency exchanges where you can purchase Litecoins, but this guide will focus on the BTC-e exchange, as at the time of writing it has the best LTC/USD currency pair rate and the highest LTC/USD trading volume.

Note: BTC-e are currently not accepting international money wire transfers from US bank accounts or US citizens, you can however use other payment methods, such as OKPay.

Step 1. Open a BTC-e account

  • Go to btc-e.com and click Sign Up.
  • You’ll need to supply your email, a username and a password (choose a password you don’t use anywhere else).

btc-e-signup

 

Step 2. Secure your account with two-factor authentication

  • Install and open the Google Authenticator application on your mobile device (phone, tablet).
  • Go to Finances > Security in BTC-e.
  • Click the ‘Create a Key‘ button.

btc-e-create-key

  • Take a screenshot and/or print the QR code, Private key and Base32 Private key (this will ensure you can use them again, should you need to install the Authenticator on a different device).

btc-e-qr-code

  • Using the Google Authenticator go to Add Entry > Scan Barcode and scan the QR code. When successful, you will see a number that changes every 30 seconds – this is your one-time password.
  • Enter the one-time password into BTC-e.
  • Tick all 3 boxes to apply the two-factor authentication to Login, Withdrawal and Security settings and save the settings.
  • Important, save the screenshot file offline (USB stick) and delete it from your computer.

Step 3. Send funds to your exchange account

  • From the Finances section, go to USD, Deposit.
  • Choose a payment method and follow the instructions carefully.

btc-e-USD-deposit-methods

  • If you’re going to send cash via ‘International Wire Transfer, ensure your bank does not truncate any of the information. The ‘Details of Payment’ is your unique reference and must be sent complete.

btc-e-wire-transfer

Step 4. Trade (buy some Litecoins)

Once your funds are showing in your account (can take up to 10 days depending on the deposit method), you can place  a buy order…

Step 5. Remove the money hold (optional)

To prevent fraud, BTC-e will normally place a withdraw hold on your account (prevents you from making a withdrawal within a certain time frame after the deposit). The amount of time the money hold is in place depends on the deposit method used. Follow the guide below to remove the money hold.

btc-e-submit-ticket

  • Complete the form and attach the following:
    • Photo ID; and
    • Utility bill

Note, they only accept scans, not photos. Make sure the name on the documents matches the bank account holder name.

How To Copy/Transfer The Litecoin Blockchain To Another Computer

You want to have the Litecoin-Qt client on another computer (maybe you’re helping someone out with a slow internet connection) and you don’t want to have to have to wait for the blockchain to download again – that’s OK, you can copy it from one computer to another…

This example is for Windows and assumes that Litecoin-Qt has already been installed.

Step 1. Locate the blockchain folders

  • Go to the following folder:
C:\Users\[YOUR USERNAME]\AppData\Roaming\Litecoin

Step 2. Copy the folders that contain the blockchain

  • Copy the ‘blocks’ and the ‘chainstate’ folders to a portable device (USB stick, DVD, Hard-drive).

blockchain location

Step 3. Update the other computer

  • Connect the portable device to the computer you want to copy the blockchain to.
  • Locate the same folder and copy & paste the the 2 folders in.

That’s it – you can now start Litecoin-Qt.

How To Import Your Private Keys Into Litecoin-Qt

If you don’t have a copy of your wallet.dat file, but you have the private keys, you can follow this guide to get your Litecoins out of your paper/offline wallet and into a new wallet in Litecoin-Qt.

Note: After you do this, your paper/offline wallet will be empty. Any Litecoins you want to keep in a paper/offline must be sent to a different paper/offline address.

Step 1. Sync Litecoin-Qt

  • Open Litecoin-Qt and wait for it to sync with the network (synchronize the blockchain on your computer with the current one on the network).

sync-wallet

Continue reading How To Import Your Private Keys Into Litecoin-Qt

How To View Your Litecoin Balance In Your Offline Wallet

This post applies to Litecoin-Qt client (wallet).

You can also check your balance with a blockchain explorer.

Assuming you have already secured your wallet and taken it offline, this guide shows you how you can view your balance within the Litecoin-Qt client offline.

Step 1. Synchronize your wallet with the network

  • Open Litecoin-Qt and wait for it to sync with the network (synchronize the blockchain on your computer with the current one on the network).

sync-wallet

  • Close Litecoin-Qt.

Continue reading How To View Your Litecoin Balance In Your Offline Wallet

Step-By-Step Guide To Securing your Litecoin Wallet

Step 1. Ensure your computer is free from malware (viruses, bots, trojans etc.)

  • This step is critical – it helps prevent  someone from trying to steal your private keys and access your coins. Use a program such as Microsoft Security Essentials to scan your whole computer before proceeding.
  • You have to be certain that your computer hasn’t been comprised  before continuing.
  • If you have any doubts and you want a 100% secure environment then follow my Live Linux guide before going to step 2.

Continue reading Step-By-Step Guide To Securing your Litecoin Wallet