How to Buy Litecoin Cash
So you have made up your mind to buy Litecoin Cash and you don’t know where or how to get started, relax, you are a step away from the solution. In this post, we have put together an essential guide to help you navigate your way into buying Litecoin Cash.
Here is what we are going to be covering in this essential guide:
- What is Litecoin Cash (LCC)?
- How to Buy Litecoin Cash (LCC)?
- Create Litecoin Cash (“LCC”) Digital Wallet
- Buy Litecoin Cash (“LCC”) Coin
- Litecoin Cash Digital Wallets
- Litecoin Cash Exchanges
- Litecoin Cash Price
- The Differences: Litecoin Cash, Litecoin, and Bitcoin
Why not ride with us as we get started…
What Is Litecoin Cash?
Litecoin Cash (LCC) is a Litecoin fork that has a higher max supply, runs the SHA256 mining algorithm, and has better difficulty adjustment.
Remember, in 2017, cryptocurrency fork was like a buzz work in the Crypto ecosystem. Also, there was more fork in 2017 than any other year. It then appears that the team behind Litecoin tried to “cash in” on this other means of raising capital. Simply put, Litecoin Cash is a fork on the original Litecoin.
How to Buy Litecoin Cash (LCC)?
Before you think of buying Litecoin cash, you would need a Litecoin cash wallet to enable you to receive your coin. You can also use the same wallet to sell the coin to any of the crypto exchanges.
Let’s take a step by step guide on how to buy LCC
Step #1: Set Up A Digital Wallet
There are several digital wallets online for you to download to receive your Litecoin cash. However, some of these wallets might be fake. So how do you know a real wallet? Very simple! Visit the Litecoin wallet official website and you would see a list of some wallets that they recommend. Downloading any of the wallet means you are in safe hands because the team cannot recommend a fake wallet.
Once you download the wallet, the next step is to run and execute the wallet on your desktop, following the instructions. After that, you need to import the private keys to protect your wallet so that you don’t suffer a loss. You can import the private by clicking on “file” and then “import private key”.
The private key alone cannot provide a robust security to secure your LCC, you then need to encrypt the wallet. Click on “settings”, then “encrypt wallet,” it will lead you to a page where you will create a secure password. Ensure you create a strong password containing numbers and symbols, and make it at least 16 characters.
Once you have successfully encrypted the wallet, you will see an icon around the bottom of the wallet indicating that the wallet has been encrypted and locked.
Thereafter, you need a receiving address for you to receive your LCC from exchanges. How do you get the receiving address? Select the “receive tab” and copy the address you see there. Please note that each time you intend buying LCC, you need to generate a new address before you place your order.
Step #2: Place Order For Litecoin Cash
After successfully creating a digital wallet, the next step is to place an order for Litecoin cash via an exchange. You can purchase Litecoin using the United States dollar or any of these three cryptocurrencies – Ethereum, DOGE, and Bitcoin.
Buying LCC with Fiat Currencies Or Cryptocurrencies
If you are interested in buying LCC with fiat-based currencies, you can do so on YObit. YObit is the only platform you can buy or sell LCC by pairing LCC/RUR or LCC/USD. What about if you are interested in buying LCC with Cryptocurrencies? Read on to find out!
Buying LCC With Cryptocurrencies
The following are the steps to follow to buy LCC with Cryptocurrencies:
#1. Open an account with an exchange: An exchange like coinbase is a reputable platform. If you don’t have an existing account with them, you can visit their website to open a new account. Once your new account is ready, use your debit or credit card to purchase either Bitcoin, Ethereum or DOGE. Note that you would pay the transaction fee which, of course, won’t break the bank.
#2. Sign up on YObit: After purchasing either Bitcoin, Ethereum or DOGE, you would have to sign up on the YObit platform,band confirms your email address.
#3. Transfer Bitcoin, Ethereum or DOGE to your YObit account: You can transfer the coin by clicking on the “funds” tab, and search from the coin you bought. Click on the coin you bought and select “deposit”. Copy and paste the deposit address from Coinbase, and the send. The coin you bought on Coinbase would immediately appear on YObit.
#4. Trade The Coin In Exchange For LCC: Return to the YObit trading platform and search for any of the currency pairs -either LCC/ETH, LCC/DOGE or LCC/BTC. Effect the transaction bearing in mind the coin you bought from coinbase. Once you are done with the transaction, LCC will appear on your account if you check the “withdrawal” section of the “funds” tab on YObit. Your Litecoin cash will remain on the YObit platform until when you are ready to sell them.
Litecoin Cash Digital Wallets
As you already know, crypto wallets are virtual storage which allows users to privately hold Cryptocurrencies until when they want to sell. You can send or receive LCC from your digital wallet. One of the best digital wallets for mobile we have seen so far is Coinomi.
If you are using Windows or MAC OSX, we suggest the QT wallet. You can download these wallets on the official website of Litecoin cash.
Litecoin Cash Exchanges
Currently, the following exchanges have listed LCC on their platforms:
- YObit
- TradeSatoshi
- CryptoBridge
- Mercatox
- MeanXtrade
As the demand for LCC surges, we believe more exchanges will start to list the coin for sale.
Litecoin Cash Price
According to Coinmarketcap, the price of Litecoin cash is $0.005646.
The Differences: Litecoin Cash, Litecoin, and Bitcoin
Litecoin shares some elements of Bitcoin and Litecoin but still delivers a hybrid. LCC mining is more accessible than Bitcoin and the original Litecoin project. In terms of maximum supply, LCC has 840 million LCC coins in supply, while Bitcoin has about 21 million coins.
Also, the team behind Litecoin cash has no affiliation whatsoever with the team behind the original Litecoin.
Final Thoughts
There you have it! Investing in LCC can be lucrative, but ensure you buy LCC from a reputable platform like coinbase.
We hope that this guide has given you a base to kick-start your Crypto trading career. If you are still in doubt, don’t hesitate to reach out to us via the comment box below.