While Litecoin’s price exploded this week, lots of new investors and other interested people were waiting to enter the market. Unfortunately, they stumbled upon one big problem: they were unable to get their hands on some Litecoin and therefore couldn’t enter the fuzz.. We all know that getting money into BTC-e.com for example is almost impossible and local Litecoin vendors ran out of LTC within a split second. So, what will be your best chance to get your hands on some Litecoin? It’s good to see that the Local Litecoin business is starting, but it’s still relatively small.
The best solution right now
I would advise you to Google a local Bitcoin vendor located within your country of residence. This because international wire transfers can be a pain in the neck (ID confirmation, Wire Transfer etc.). Before you purchase your Bitcoins, calculate how many BTC you need for the amount of Litecoins you want. You can check the LTC/BTC rate right here.
Buy Litecoin with Bitcoin
Open an account on one of the big exchanges (like Cryptsy or BTC-E) and send your Bitcoins to your exchange wallet. After this you can trade your Bitcoins to Litecoins (keep in mind that Bitcoin’s price could be heavily conducted to price fluctuations will transferring to an exchange). When you’ve successfully converted your BTC into LTC you can send your LTC to your own (offline) wallet. Although it may take some extra steps and time, it is a good wat to get Litecoin save in your own wallet.
- Find yourself a local BTC vendor and purchase BTC (if unable, try Localbitcoins.com)
- Transfer BTC from your wallet to the exchange of your choice (like Cryptsy or BTC-E)
- Switch BTC to LTC (keep in mind that over time your amount of LTC could decline due to BTC’s volatility)
- Transfer your received coins to your offline LTC wallet
Brent from Litecoinweb (a Dutch website about Litecoin)