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Start Using Litecoin

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  • Start by buying some litecoin and using a wallet

  • It's more engaging when you have a little skin in the game

  • It's good to take control of your litecoin outside of an exchange

Step 1. Learn about litecoin

Aim: Learn how many total litecoin there are

  • There will only be 84 Million litecoin

  • Litecoin's scarcity schedule is decreased every four years

  • Litecoin's next halving is scheduled for 2023

  • Learn more at the litecoin halving page

Step 2. Get a Wallet

Aim: Make and backup a litecoin wallet 

  • Download Litewallet.

  • Make a new wallet and write down the 12 words presented to you using pen and paper. These 12 words act as a key to access your litecoin.

  • Make another copy of these words (again, using pen and paper) and put them both somewhere hidden/safe in your house.

  • In lite wallet, click receive and copy the address shown on screen, this can be done by clicking on the QR code.

Step 3. Buy some litecoin

  • Aim: Get a small amount of litecoin

  • Select one of the many places to buy litecoin

  • Only buy a small amount of litecoin to start (in a later step we will improve your backup redundancy).

  • These recommendations let you buy litecoin quickly at the cost of reduced privacy.

  • Buying Privately is detailed in a later step.

Step 4. Give some litecoin

Aim: Give some litecoin to a family members and friends

  • Find a friend who you want to give some litecoin to

  • Have your friend send you their litecoin address or scan their QR code on their mobile wallet

  • Verify address and send litecoin from litewallet

Step 5. Spend some litecoin

Aim: Spend litecoin at a business

  • Download the SPEDN or Gemini App

  • Go to one of the merchants on the current list of stores (Ulta, Lowe's, Baskin Robins, Dunkin Donuts, etc)

  • Open up SPEDN or Gemini App, and select Litecoin and the merchant

  • Load QR code, and scan as gift card at checkout

Step 6. Get a Hardware Wallet

Aim: Purchase a hardware wallet

  • Select one of the top hardware wallets

  • Setup the hardware wallet

  • Write down recovery seed words (store them in a safe/secure place)

  • Write down you public address (this is where you will send you litecoin to)

     

Step 7. Backup your Wallet

Aim: Backup your seed phrase on metal

  • Purchase a metal seed backup (learn more here)

  • Punch in your 12 or 24 words

  • Secure and store the metal backup

Step 8. Join the twitter community

Aim: Get on twitter and chat with other litecoin supporters

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