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 ensure a smooth transaction.

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 BTC and ETH transactions, typically deducting 0.00025 BTC or 0.003 ETH per transaction. This means you may lose 15-20 EUR (170-230 SEK) without prior notice.

If you still choose BTC or ETH, be prepared to cover these additional fees. Full details are available on Safello’s fee information page.

Litecoin (LTC) is recommended because it has near-zero transaction fees on Safello, making it the most cost-effective choice.

1. Set Up an External Litecoin Wallet (Optional)

• If sending LTC to someone else’s wallet or a platform, you may not need a personal wallet.
• Get the External LTC Address: Obtain the correct Litecoin receiving address from the recipient or platform.
• Security Reminder: Always use a new address provided by the recipient or platform. Some addresses expire, and sending to an old address may result in lost funds.

2. Create a Safello Account

• Sign Up: Visit Safello’s website or use their app to create an account.
• Verify Identity: Safello requires KYC (Know Your Customer) verification, including a photo ID and possibly a selfie.
• Add Payment Method: Depending on your location, you can use a bank transfer, card payment, or Swish (Sweden only).

3. Buy Litecoin on Safello

• Log In to your Safello account.
• Select Litecoin (LTC) from the available cryptocurrencies.
• Enter the Amount: Specify how much LTC you want to buy or enter a local currency amount.
• Complete Payment: Follow Safello’s instructions to finalize your purchase.

4. Send Litecoin from Safello to an External Address

• After your purchase, your Safello account will display your Litecoin balance.
• Go to the Send or Withdraw Section and choose to send Litecoin (LTC).
• Enter the Recipient’s Litecoin Address: Paste the correct, new LTC address from the recipient or platform.
• Important Update: If a crypto platform asks for recipient details such as name and address, provide your own name and declare the unique crypto address as your own self-custody wallet. This ensures correct payment association and prevents errors.
• Enter the Amount of Litecoin you wish to send.
• Confirm the Transaction: Double-check the address and amount before finalizing.

5. Track Your Transaction

• Confirmation Time: Litecoin transactions are usually fast, but delays can occur due to network congestion.
• Track Your Payment: Use a Litecoin blockchain explorer to check the transaction status by entering the transaction ID provided by Safello.

Important Tips

• Double-Check Addresses: Crypto transactions are irreversible, so always verify the recipient’s address before sending.
• Use a New Address for Each Transaction: Avoid sending LTC to an old or expired address.
• Beware of Fees: Litecoin has minimal fees on Safello, unlike BTC and ETH, which carry hidden costs.
• If You Forgot to Cover BTC/ETH Fees: You can send the missing amount via this shop page using Litecoin (LTC).
• Enable Security Features: Activate two-factor authentication (2FA) on both your Safello account and external wallet for better security.