People have been wondering how and where to buy Litecoin in Australia. In this guide we will help the people of Australia access Litecoin and other cryptocurrencies.
Cryptocurrency and exchanges are legal in Australia and therefore accessing Litecoin as well as many others is quite simple. Just follow our simple guide and you’ll be trading Cryptocurrency in no time!
Easy Step By Step Guide To Buying Litecoin In Australia
The best exchange to use in Australia in our opinion is KuCoin, It’s a reputable cryptocurrency exchange. KuCoin has has lots of coins listed and boasts low fees. They offer a simple phone application when you’re on the move.
KuCoin accepts AUD deposits which makes it simple for Australians to purchase Litecoin. It also allows the user to access all the other coins that are listed. I personally have an account as KuCoin lists so many coins that aren’t accessible elsewhere.
KuCoin is one of the leading exchanges in the world and that is why we recommend it!
Congratulations! You’re now a registered user on KuCoin now we need to verify your account! Although this may seem annoying, this protects your account from being hacked.
By Verifying your identity, if anything unuasual happens on your account they may ask for your ID. This stops potential fraud which I welcome from all exchanges.
How To Verify Your KuCoin Account In Australia
- Once you’re logged in click on your account and select verification as you can see in the image below.
2. Make sure you select individual account verification and then click on Start Verification.
3. You will now be asked to supply some information. You can choose which document to sumbit such as driving licence or passport.
Congratulations, you have now verified your account with KuCoin, they should not take long to approve your verification should everything have been done correctly.
Great I’m Verified, How Do I Buy Litcoin And Other Cryptocurrency?
Once KuCoin has processed your documents it’s time to buy your Litecoin.
- At the top of the page hover over Buy Crypto and select Credit/Debit Card.
2. You will be presented with the payment screen, in the first box select Australian Dollards (AUD). In the second box select Litecoin (LTC). You have several options for payment but the easy option now is Credit card or Debit Card.
3. Read the disclaimer and if you agree click the checkbox to the agreement and then click on confirm!
4. CONGRATULATIONS! All going well you are now the proud owner of however much Litecoin. You may know a lot about Litecoin already as I doubt you would be looking to buy it with out some research but lets have a quick look at this cryptocurrency now you’ve learn how and where to buy litecoin in Australia…
What is Litecoin & What Is It Used For?
Litecoin was one of the early coins to the market along with Bitcoin and Ethereum. The coin was created by Charlie Lee in 2011. Charlie is a former employee of Google and Coinbase where he was Director of Engineering.
Litecoin was forked from Bitcoin. The main objective of decreasing blockchain generation time from Bitcoins 10 minutes to 2.5 minutes with Litecoin.
Litecoin has a Proof-of-work (PoW) algorithm using scrypt. In 2017 Litecoin adopted segregated witness becoming the first of the top 5 coins by marketcap to do so.
To see how Litecoin is doing today why not have a look at our Litecoin Price Index.