Cryptocurrencies have become an innovative breakthrough of the last decade, as they give people back control over their assets and make it possible to make settlements with lightning speed without involving banks.
Since Litecoin is also a great investment option, right now we are seeing cryptocurrencies revolutionizing the traditional financial system. Therefore, the question “how to buy litecoin” worried not only ordinary people, but also payment giants.
Watching the financial market revolution is exciting, but being part of it is exciting. This is where the main problem arises: most people think that to acquire a cryptocurrency you need some kind of super-complex knowledge, and to buy litecoin you need to be a programmer.
This is by no means the case. All that any person needs to buy a crypto is a convenient, secure, and easy-to-use application, in order to transfer the fiat currency.
Transferwise fully meets the specified criteria. It is an innovative open source multi-currency wallet that provides the ability to instantly send and receive fiat currency using its online payment system. In order to buy litecoin with transferwise here is a quick guide on how to do it.
Table of Contents
1. Installing Transferwise app
Follow the link in the App Store or Google Play Market depending on your operating system, download and install the Transferwise app . It will take no more than 2 minutes.
2. Launching the application
At the first launch, Transferwise will ask you to signup using your mobile phone number. Afterwards, you will need to proceed with Know Your Customer (KYC) procedure. In order to know more about KYC verification, check this guide on how to get verified easily. Once verification is done, usually after few hours, you are good to go!
3. Buying litecoin cryptocurrency using a P2P Crypto Exchange: step by step instructions.
- On the main screen of the platform, select a cryptocurrency (i.e litecoin) and go to the “Buy” tab.
- Select the type of fiat currency you would like to use, and then select Transferwise as the method of payment and finally indicate the purchase amount.
- The application will calculate the approximate amount of receiving the cryptocurrency you are purchasing. Make sure to double check the rates using a crypto price calculator. For example, if you are buying Litecoin for Indian Rupee, you must check the LTC to INRrate prior to opening a trade.
- Choose the most suitable trader for you and click the “Next” button, then wait until Escrow is done from the seller.
- Now it remains to check all the details of the purchase. The “Pre-check” page will show the purchase rate, all commissions and the total amount received. Be sure to read this information and if everything is in order – click “Confirm”.
- They will confirm the purchase of litecoin in your application.
- Litecoin will be credited to your Exchange wallet app in a few minutes after the funds are debited from Transferwise account.
Conclusion
Transferwise app is the fastest entry point into the world of multi-currency wallets, and with the use of a peer to peer crypto exchange, you can buy cryptos easily and instantly.
