How To Buy Litecoin With USD, Paypal, Credit Card
Litecoin (LTC), second biggest cryptocurrency after Bitcoin is growing at good rate. The digital currency has experienced a meteoric rise in recent months. The total value of the crypto-currency is currently at 88 million U.S. dollars. Mt. Gox, which is the largest bitcoin exchange is also considering to add Litecoin in their exchange in coming months. Their decision to support litecoin marks increasing interest in virtual currencies.
Well this is a long method, including two exchanges and bitcoin but this is the easiest and safest way to buy Litecoins with Paypal or Credit Card. Let’s have a brief introduction first. Paypal / Credit Card >> VirWoX Exchange >> USD to SLL (Linden Dollar) >> SLL to Bitcoin >> Transfer Bitcoins to Vircurex Exchange >> Buy Litecoin.
Buy Litecoin with Paypal / Credit Card :
Step 1 : Go to VirWoX (Click here) and register your account by clicking on “Not registered yet” link. Once you finish the registration, login to your VirWoX account. Ignore the message saying Your avatar connection has not been validated yet.
Note : VirWoX support a wide range of deposit methods including Paypal, Credit Card, UKASH, Paysafe Card, Money Bookers, Sofort banking or Neteller etc.
Step 2 : Login to your VirWoX account and click on “Deposit” and add some funds to your VirWoX account, you can add funds in various methods including Paypal and Credit Card.
Step 3 : Now you have to convert your USD / EUR/ GBP in to SLL (Linden $). Linden $ (SLL) is currency of The virtual world, Second Life. Just click on USD / SLL, EUR / SLL or GBP / SLLand place a buy order.
Step 4 : Now go to BTC/SLL exchange and buy bitcoins of your desired amount.
Step 5 : Congratulations, now you own bitcoins in your VirWoX wallet, you can transfer these bitcoins to another litecoin exchange wallet.
Step 6 : Create a new account at Vircurex exchange (Click here) to trade BTC for LTC. Once your account is created just login to your Vircurex account and generate your bitcoin deposit address in Accounts (click here).
Step 7 : Now back to VirWoX account, go to “Withdraw” section, first option is bitcoin withdrawal. Now add bitcoin payee address you generated in previous step and hit the withdrawal button.
- For new VirWoX accounts, bitcoin transfer can take up to 48 hours.
Step 8 : Now buy Litecoin with your recently transferred bitcoins (click here).
Note : If you would like to trade in any other currency pair go to your user settings (choose “Settings” from the top of the menu) Then select the Layout tab. You should see a checkbox called “Show only BTC rates”. Uncheck this to see all currency combinations.
Step 9 : You can anytime transfer your LTC to another exchange i.e. BTC-e or your wallet from Vircurex. Click account, then to the right of LTC click make a withdrawal, then it will ask you to type in how much LTC you would like to withdrawal, and the address of where you want to send this money and funds should be transferred in about 30 minutes.
That’s it. If you still have any doubt or question, ask us in comments section right after the break.