How to Buy and Send Litecoin (LTC) with Safello

Follow this step-by-step guide to purchase Litecoin (LTC) on Safello and send it securely to an external address. This guide includes essential tips to avoid unnecessary fees and why using Litecoin is the most cost-effective choice with Safello.

Why Choose Litecoin (LTC) on Safello?

For users in Sweden, it’s highly recommended to use Litecoin (LTC) on Safello and avoid using Bitcoin (BTC) or Ethereum (ETH). Safello applies a high hidden fee for transactions with BTC and ETH, typically deducting 0.00025 BTC or 0.003 ETH from each transaction. This translates to a deduction of around 15-20 EUR (170-230 SEK) from the total amount sent, often without pre-notification.

If you still want to use BTC or ETH, be prepared to add this extra amount to the transaction to cover the hidden fees. Full details are available on Safello’s fee information page.

Litecoin (LTC) is recommended as it has nearly zero (0) transaction fees with Safello. This makes LTC a better, more cost-effective option for transactions.

1. Set Up an External Litecoin Wallet (Optional)

• If you’re sending Litecoin to someone else’s wallet or an external service, you may not need a personal wallet.
• Get the External LTC Address: Obtain the correct Litecoin receiving address from the recipient or platform where you’re sending the funds. This is a unique string of letters and numbers.
• Important Security Note: Always use a new address provided by the recipient or platform for each transaction. Never send LTC to an old or previously used address, as some addresses expire, and using an outdated address can result in lost funds.

2. Create a Safello Account

• Sign Up: Go to the Safello website or download their app to create an account.
• Verify Identity: Safello requires KYC (Know Your Customer) verification, typically involving submission of a photo ID and possibly a selfie.
• Add Payment Method: Choose a payment method based on your location, such as bank transfer, card payment, or Swish (if in Sweden).

3. Buy Litecoin on Safello

• Log In: Access your Safello account.
• Select Litecoin: From the list of available cryptocurrencies, choose Litecoin (LTC) for the most cost-effective transaction.
• Enter Purchase Amount: Enter the amount of LTC you wish to purchase or specify an amount in your local currency. Safello will show the equivalent amount of LTC, including any fees.
• Complete Payment: Select your payment method and follow Safello’s instructions to finalize the purchase.

4. Send Litecoin from Safello to an External Address

• After completing your purchase, your Safello account will show your Litecoin balance.
• Go to the Send or Withdraw Section: Choose the option to send or withdraw LTC from Safello.
• Enter the External Litecoin Address: Paste the recipient’s new and verified Litecoin address. Double-check that it’s correct, as crypto transactions cannot be reversed if sent to the wrong address.
• Important Reminder: Use a new address provided by the recipient or platform (e.g., an exchange or online store), and avoid sending to an old address.
• Enter the Amount: Specify the amount of Litecoin you want to send.
• Confirm Transaction: Review all details carefully, especially the address and amount. Confirm the transaction to send the LTC.

5. Check the Transaction Status

• Transaction Confirmation: Litecoin transactions are typically fast, but network congestion can sometimes cause delays.
• Tracking the Transaction: You can track the status using a Litecoin blockchain explorer by entering the transaction ID provided by Safello. This allows you to see when the transaction has been confirmed on the Litecoin network.

Notes and Tips

• Double-Check Addresses: Double-check the address every time to avoid sending LTC to the wrong address. Crypto transactions are irreversible, and using an incorrect address could result in a permanent loss.
• Use a New Address Each Time: Never reuse an old address when sending Litecoin to an external party. Always request a fresh address from the recipient.
• Transaction Fees: Be aware of Safello’s fees and Litecoin network fees, which are minimal for LTC. Using LTC helps avoid high hidden fees associated with BTC and ETH.
• If You Forgot to Add the BTC or ETH Hidden Fee: If you’ve already sent BTC or ETH without covering the hidden fee, you can make up the missing amount by sending the difference via this shop page and selecting Litecoin (LTC) as your payment method.
• Security: Enable two-factor authentication (2FA) on both your Safello account and the wallet you use to secure your funds.