QuadrigaCX is a digital marketplace, which allows users to buy and sell Litecoin on the open market. Trading Litecoin on this Canadian based trading platform is very convenient. Below you can find a step by step image guide on ‘How to buy Litecoin on QuadrigaCX.
These steps are pretty straightforward and easy to follow.
Click “Register” at the top right-hand corner of the page beside the “Login” button.
Fill in your details, check the Security box and click Continue.
Your registration is now complete. Kindly take note of your “Client ID” as this is required to access your account.
Congratulations! You have now successfully created an account on QuadrigaCX.
Log-in to your account, click on your “Registered name” that is located in the upper right-hand corner and click Verify.
To start the verification process enter your current address and phone number, then click Submit.
To unlock the ability to fund your account, you will need to pass the ID & Address verification. Hit “Continue” to proceed to the next page.
Note: Verification is NOT necessary if you plan to fund with, trade or withdraw cryptocurrencies.
Upload the needed documents. Verification typically takes 3-5 business days and will be validated through a confirmation email.
Note: If the documents do not meet the requirements a message with instructions on how you can accomplish them will be sent.
Wondering what 2FA is?
Two-factor authentication (also known as 2FA) is a type (subset) of multi-factor authentication. It is a method of confirming a user’s claimed identity by utilizing a combination of two different factors: 1) something they know, 2) something they have, or 3) something they are.
An excellent example of two-factor authentication is the withdrawing of money from an ATM; only the correct combination of a bank card (something that the user possesses) and a PIN (personal identification number, something that the user knows) allows the transaction to be carried out.
In the case of exchanges what the user knows are the login details username and password and what he possesses is the 2nd factor for the authentication which is a code. The code can be either received through SMS on users personal mobile phone or found in an application like Google Authenticator or Authy.
So, to get to the 2FA section, please click on your “Registered name” located at the upper right-hand corner and then click on Profile Settings.
Activate the “Google Authenticator” by changing the status to Active.
Install the “Google Authenticator” on your smartphone or tablet. After installing you will need to configure the application to work with QuadrigaCX by scanning the QR code or by typing the secret code.
After scanning the QR code, a 6-digit code will appear which you need to enter inside the “Enable” box.
See here for more details regarding the Google Authenticator.
Two-Factor Authentication is now successfully enabled on your QuadrigaCX Account!
Important Reminder: An “Emergency Reset Code” will be provided which is vital if you lose your secondary 2FA device. Save or print this for your perusal.
Now that your QuadrigaCX account is safe, we can now move to the next step which is Funding.
Note: We will use Canadian dollar (CAD) as an example of this step.
From the “Dashboard” click on the Canadian flag, then select Fund Account.
There are five options to choose from when funding your QuadrigaCX account with CAD. Verification is required to some of these options before you can put money into your account.
Choose an option which you think is best in funding your QuadrigaCX account by clicking the ‘Select’ button on the right side.
Once you make a selection, just follow the next steps and make your purchase. Your funds will then show up beside the ‘Canadian Flag’ or by clicking on it and as well as on the ‘Available Canadian Dollars (CAD)’ section on the Dashboard.
Now that you have already funded your account you can now start buying your first Litecoin. From the Dashboard click on the “Trade” tab.
Choose which Litecoin you want to buy by clicking the ‘Selection’ button on the right side as seen in the image below. Make sure that the correct pair (Litecoin you intend to buy and the account (USD, CAD, etc.)) is selected.
Enter the amount of Litecoin that you wish to buy inside the “Buy Litecoin” box. The total price will be auto-calculated, and if you agree just hit the “BUY” button.
You can also buy Litecoin from the Member Dashboard. All you need to do is input the amount and click on the “BUY” button.
The amount of Litecoin you bought will then show up on the ‘Available Litecoin’ section and also beside the Litecoin logo.
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