Below is a step-by-step image guide on How to buy Litecoin, on Cex.io, one of the newest crypto-currency exchanges that accept credit card payments and bank transfers for FIAT.
The below-listed steps are pretty straightforward and will also be described in detail for anyone’s reference.
The first thing you need to do in order to buy Litecoin on CEX is to create an account. To create an account on CEX, click on the button below and follow the instructions.
You have the possibility to register with your Email address or social media login ( Facebook, Google. VK, Github).
We recommend using the Email address and a very secure password that includes Numbers, Symbols, Capital Letters, and Lower-Case Letters. Use a mix of different types of characters to make the password harder to crack.
Perfect! You have successfully created an account on CEX.io.
Once you have signed-up, your account is activated. You have 24h to confirm your email address through the email you just received:
Next step though, is to go to Verification in the top right corner under your user id(make sure you safely store that for reference).
Click on Start Verification and complete all the steps required.
Complete ID information as per indicated fields
Make sure data is correct, corresponds to your documents and use the English language.
The residential address is your current address(where you are living for the moment), and the permanent address should be the same as your billing address used for official correspondence.
You need to then, upload photos/scans of the document supporting information provided by you in the previous steps. Make sure that your photos/scans meet the following requirements:
The identity document you provide can be :
Please make sure letters are Latin.
Make a selfie while holding the identity document that you used to fill in the Verification form.
Before uploading an image on the Verification form, please make sure to follow photo requirements:
In case of a low-quality selfie, the Compliance Officer may ask you to try uploading it once more.
Please, provide photos/scans of documents proving the address stated in Verification form. Choose one of the following options:
Note: If you have only online utility bill or electricity bill, then you may provide it following such obligatory requirements:
Please, make sure that your scans correspond to the following requirements:
Note: If you do not have any documents from the list above with Latin transliteration, you can provide us one of the following:
Once you perform all the verification steps, Cex.io will verify you as soon as possible.
Once you are verified, you will receive an email confirming this.
You can now fund your account. You can opt for one of the following:
If you choose to deposit, you have again, 3 available options:
If you choose to fund your account from the card, you need to input card data. Please note that you can fund your account only from your personal card, not 3rd parties cards.
If you choose to fund your account from a bank account, please carefully read the notices and instructions they provide.
At the moment of writing, CEX.io stated the following:
Due to the specifics of our payment partner’s operations, we cannot guarantee payment processing time. Currently, transaction processing may take 2 to 60 days. We would like to emphasize that every single deposit and withdrawal was received by our users since the company was founded in 2013. Our team is working hard on service improvement and soon will be able to provide you with faster and more convenient payment options for wire transfers in USD.”
Also note that for bank transfers, Cex.io has a minimum amount of $1000/transfer.
Once you click on the Proceed button, you will receive the details for our bank transfer. Please note that the below image is only an example, DO NOT use it for your transfer. To make sure your transfer is correct, use the details given to your account.
Below you can find the step by step process to buy your first coin. It’s rather straightforward but you need to be careful with a few aspects.
Scroll down until you reach the Buy/Sell section:
Market stands for the market price. Basically, the asking price of that moment on the exchange and Limit is a fixed price which you are willing to offer for that coin.
Let me put it in simpler words it’s like you want to buy a used car and you go to a website and see different offers for the same model. You can either choose to buy it from whoever wants to sell it first, irrespective of the price they ask. Or, you have in mind a budget you are willing to spend and base the purchase on this, choosing an offer or negotiating with an owner so that you purchase at the maximum price you are willing to pay.
There might be cases in which you decide to purchase at the market price to do it faster or for other reasons. But most of the cases we suggest you go for the limit option and maybe wait a bit so that your order gets filled.
For the moment even if the option is there we suggest you do not use Margin trading, this involving a high risk.
You will see your order if you scroll down to the Active Orders section.
You need to wait until this is filled and voila! You have your first crypto!
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