How to buy Litecoin in South Africa, let we will try to give some information regarding this issue
Litecoin is a decentralized digital currency like Bitcoin.
It uses encryption that is the same as bitcoin to transfer and also has a transaction confirmation feature.
The main difference between Bitcoin and Litecoin is that LTC has a larger number of coins and has a faster transaction rate.
In South Africa, Litecoin has become very popular besides other cryptocurrencies such as Bitcoin and Ethereum.
Buy LTC in South Africa is even easier because there are several ways that can be used by digital currency investors.
Cryptocurrency is gradually found in Africa. In countries such as South Africa, Ghana, Kenya, Botswana, Zimbabwe, and Nigeria, there are similarities in digital currencies, especially Bitcoin.
In fact, there is more than 1000 merchant who accepts Bitcoin in South Africa.
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Buy Litecoin Through Coindirect
Coindirect is one of the leading cryptocurrency exchanges in South Africa
Registered on the Isle of Man and has offices in London and Cape Town
The latest news is that they are expanding their network to Europe which offers Euro wallets for customers to buy and sell 43 cryptocurrencies using EUR.
Thus customers can buy or sell cryptocurrency with ZAR or EUR using Coindirect Wallet
Step to buy LTC through Coindirect is
- First, you need to create an account through their homepage
- Second, you need to verify your account, in profile, you will find an option verify yourself then follow instruction
- Third, you can buy Litecoin, you will find various seller there
- Fourth, You can pay with Paypal and bank transfer
- Five, manage your Coindirect wallet
- Sixth, Save your account with Two-Factor Authentication, you can download on google play app Google Authenticator then connect through the profile menu
Buy Litecoin Through Coinmama
Coinmama is a very popular exchange cryptocurrency, you can buy cryptocurrency using a credit card
Established in 2013, registered in Slovakia owned by New Bit Ventures Limited based in Israel.
The company operates in 188 countries around the world, South Africa is one of those countries.
Coinmama offers a high purchase limit, especially in the case of credit card transactions. Users must do KYC before buying using a credit card.
By verifying you can buy up to $ 5,000 per day and a maximum purchase limit of $ 30,000 per month.
For you to buy on Coinmama, you have to take steps, make sure you already have a Litecoin wallet, this is for storing LTC that you buy.
- The first step, you make sure to access the right Coinmama site, to avoid phishing, after that, you register your account
- The second step is the verification process when you register then you will get a confirmation result for verification, you click the verification line
- The third step, you fill in the info profile form and must enter the correct data
- Step four, Know Your Customer (KYC), for this, you need to take a selfie with facial details and your hand holds an identity card and write Coinmama and the date when you verify.
- Step five, if the verification is complete, then you can navigate the more coins menu then choose Litecoin and choose the amount you will buy the advantage if you use a credit card, the transaction process only takes a few minutes
- But if you use SEPA, this can take two days, and maybe you will get a different amount from when you bought because the calculation of the value is when your order is processed, if the market conditions are volatile, you might get Litecoin, not as you expect it
- You fill in, using your wallet to receive LTC that you bought, then the process checks out
Buy Litecoin through Ice3X
Ice3x is a cryptocurrency exchange in South Africa, which allows users to buy Litecoin, but there are also a number of other options that you can choose from.
The steps you need to do to start using their services are generally the same
- Step one, you register your account through the Ice3x website address
- Then step two, verify your account, whether, for email or profile details, you must provide correct information
- Step three, you need to deposit into your ICe3x account before start trading
- Step four, if the funds are already available in your account, then you can use the website platform by navigating the menu to buy Litecoin, you can easily search the website
Buy Litecoin Through Altcointrader.
Altcointrader is a growing trading platform in South Africa, which provides cryptocurrency trading services with South African Rand currencies
This is a kind of broker for cryptocurrency trading, but because in some countries it still does not have definite regulations regarding the exchange of cryptocurrencies, including in South Africa, Altcointrader is not regulated
So is this safe for traders? So far there have been no negative reviews about them, and all of them.
But they did not offer a deposit card credit option, only using wire transfers.
So maybe if the consideration is about a credit card deposit, this platform is not suitable for you
Then how to start trading using their platform?
- Like most users need to register first on their website
- Furthermore, you also need to verify, even though this is not a regulated broker but they say anti-money laundering and ask for a selfie photo by holding your identity card
- Step three is that you need to make the first deposit of money to be able to start trading using their web trading platform based platform using the tradingview chart
Buy Litecoin Through Coinbase.
Users in South Africa can also get services to buy Litecoin on Coinbase, this is an exchange that is also widely used by users in many countries because Coinbase supports more than one hundred countries.
For payments, Coinbase supports the use of credit cards and bank transfers, you can adjust the type of payment you use
To start using Coinbase services, like the exchange in general.
- The first steps are to register an account
- Then it requires a verification process, by requiring this ID photo to prevent anti-fraud and show this is you
- After all the processes have been completed, you can start trading using their platform to buy Litecoin or something else.
Buy Litecoin without verification
Is it possible to buy LTC without verification
because most exchanges provide requirements by requiring ID photos as part of verification?
The answer is possible because some exchange does not provide conditions that entice to send photo IDs.
So this is to buy LTC without verification
Maybe you’ve heard about Paxful exchange, this is an exchange where users can make transactions without verification.
but they provide verification requirements if members have more than 1500 $ in their wallets, for this, they must verify ID
But both do not require an ID for trading and both offer a 2 BTC withdrawal limit per 24 hours without verification
To use the Paxful platform you need to register, who will get a free wallet from Paxful
Then enter what amount you will spend and choose the payment method
You need to choose a seller by comparing one and the other.
If you have determined you can live chat and make transactions and complete the purchase process.
Buy Litecoin with credit card
To buy LTC using a credit card, there are several sites that you might find, when you use buy Litecoin search with credit cards
But users should be careful because there are also many phishing or scam websites even though they are on top of searches.
If you find a trusted exchange that accepts credit cards as a payment method this will be much safer
For example, Coinbase which is an exchange that has many users.
they also accept credit cards as a method of payment.
You only need to choose a credit card payment method from all available options
Both of which offer purchases of cryptocurrency using a credit card.
But maybe you need to explore further to get a review of the two exchanges,
So by getting the more detailed information, you get an idea of whether it’s good to buy LTC there
Indeed, you will find many sites that offer credit card payments.
You must be vigilant because not all of them will be safe for investment.
Especially if your purpose is to use LTC for trading.
Besides being risky, if you choose an untrusted exchange then you might lose your money
How to buy Litecoin with PayPal
Paypal is a strict payment tool in the regulation of usage, they do not use for money games, or gambling, and most for online purchases.
Therefore not many exchanges that use Paypal as a way of payment in purchasing Litecoin, for example, Binance and Kraken they don’t, accept Paypal
But you can still buy Litecoin by using Paypal, which is by buying at Paxful, this is also one of the leading exchange in the world, this exchange available payment use Paypal.
Then how to buy Litecoin using Paypal?
If you don’t have an account with Paxful, you need to register first and then verify account
But if you are already a Paxful member then the next step is to click select currency then choose any flat currency like as USD, Yen or Euro
Enter value Litecoin that will buy with the use of these currencies, then click select way to pay, and search.
Hence the result will show the list of traders that allows buying LTC with Paypal.
Traders offer prices maybe with different values from one another, you can choose those with lower prices and with a good reputation, chat with the seller to the finishing process to buy your Litecoin.
If there are no traders selling LTC using Paypal, you can first buy Bitcoin, and then with Bitcoin, you exchange it with LTC
You sell Bitcoin and choose the payment method option with LTC then click search, you will find the result that the trader accepts Litecoin as a way to pay.
Chat with the buyer to the complete transaction.
How to Buy Litecoin Cash?
Litecoin cash or LCC is resulting from hard fork Litecoin
Use SHA-256 with the aim of being able to do better processing.
Then how to buy Litecoin cash?
Not all exchanges offer LCC or Litecoin cash to be traded, you need to find an available LCC exchanger, maybe there is only one exchange that offers LCC is Yobit
But this exchange is a less popular exchange and reportedly there are negative reviews that are taken into consideration
So you should be careful
If you want to buy LCC hence you need first to register an account to YoBit and verify your account.
If you want to buy LCC with Bitcoin or BTC then you need to have BTC in your account if you want to buy LCC with a fiat currency.
Maybe if it’s not available then all you can do is buy Bitcoin and exchange it for Litecoin cash.
Litecoin is a leading cryptocurrency, with a fifth rank, in Coinmarketcap, allowing crypto traders to be able to get profits by using Litecoin as a trading asset, but it is not as easy as imagined.
Litecoin values sometimes go down and sometimes go up, so you must have good analytical skills to be able to gain profit.
Choosing an exchange and payment method is also a concern for crypto traders, using trusted exchange services will be safe in investment and trade, while payment methods that support several ways will also provide convenience for traders.