A Tutorial for the Pay with Litecoin, and Coinbase
What are crypto currencies?
Crypto and virtual currencies based on the Blockchain technology are currencies.
During normal payment systems are centralized (such as banks or PayPal), are cryptographic decentralized currencies, and use a secure Peer-to-Peer network, allows a permanent record of all transactions.
Bitcoin was developed in 2009 and is the first crypto-currency. Almost ten years later, crypto-currencies by millions of people, companies and countries are used to transfer values, goods, and services.
Why use crypto to pay?
Pay with crypto-currencies is a simple and effective Alternative to SWIFT and Paypal. More and more companies opt for crypto-currencies to be more flexible, faster and more independent.
The use of crypto-currencies has a number of advantages, such as….
Although there are several crypto-currencies and stock exchanges is the easiest way, the crypto-currency Litecoin and the stock exchange Coinbase to use.
With this method, you can send money to friends or their own receive payments. The method can be used for any type of crypto-currency that is offered on Coinbase.
How can I pay with Litecoin on Coinbase?
Step 1: Create your Coinbase account
Go to www.coinbase.com and create an Account.
Step 2: Buy Litecoin
First, you have to buy Litecoin before you can pay.
- Click on “Buy / Sell”
- Add done of a payment method (if not already)
- Click to purchase Litecoin
- Give the the amount you want to buy – on the right side you see how much Litecoin you will get and what are the charges for the purchase may apply.
Important: make sure a bit more to buy, than you need to the amount to pay in order to pay the fees.
- Buy Litecoin, the amount is then transferred instantly to your Litecoin Wallet.
Step 3: Sending Litecoin
Now, since you own Litecoin, you can transfer it to an account.
- Click on “accounts”
- Click on “LTC Wallet” to your Litecoin wallet
- Click on “Send”
- Give the recipient’s address, a
- IMPORTANT: Always double checkwhether the entered address is also the correct (!)
- Total enter the übereisen – you will be shown both in euros as well as in Litecoin
- Optional: Send a note together with the transaction
- Click on Continue and finish the transaction
Done – you’ve just paid for the first time with crypto!
How do I get Lite coins on Coinbase?
Step 1: share your Wallet address
- Go to “accounts”
- Click on “LTC Wallet”
- Click on “Receive”
- Copy and share your address
The sender must then follow the steps above and you Litecoin to this address.
Step 2: Exchange your Litecoin to Euro
Once you have received the Litecoin amount, you can keep him as litecoins or euros to convert.
- Go to “Buy / Sell”
- Click on “Sell” and select your LTC Wallet
- A born the amount of Litecoin you to convert Euro to.
- Sell your Litecoin
Now you have the Euro in their Euro Wallet in “accounts”.
Step 3: Transfer your balance to your Bank.
If you wish to withdraw your Euros from Coinbase and transfer to your Bank account, just follow the following steps. The transaction time is ~24h.
- Go to “accounts”
- Click on the “USD Wallet”
- Click on “Withdraw”
- Add a Bank account if not done (already)
- Transfer the money to your Bank account
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