top of page

Start Using Litecoin

LitecoinLogoCoin.png
  • 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

LookIntoLitecoinHeaderImage.png

 

Disclosure: Please note that nothing on this page constitutes, or is meant to constitute, financial advice of any kind we are not responsible for any loss that you suffer as a result of any financial transaction, regardless of whether or not you enter such transaction based in any way upon anything you learn from this page. If you require advice in relation to any financial matter, you should consult an appropriate professional.  Writers on this site own Litecoin and therefore have a bias to write pro-litecoin articles.

©2020-2024 by lookintolitecoin

bottom of page