PAYMENT

We accept payment by Bitcoin, Ethereum and Litecoin only. There are no exceptions to this. Any emails requesting alternative payment methods will be ignored. Please see below for a quick tutorial on how to use Litecoin.

If you want to pay by card, use one of the exchanges listed below to buy LTC/ETH/BTC with a card.

Note: We encourage customers to make payment via Litecoin, it is the quickest and cheapest payment method.


LITECOIN TUTORIAL

Litecoin is a decentralized digital currency that can be transferred instantly and securely between any two people in the world. It's like electronic cash that you can use to pay friends or merchants. Paying with Litecoin is actually very easy once you get your head around the basic concept. You should make the effort to learn it as the technology behind it is the future of global payments.

Litecoin is very similar to Bitcoin but it has a number of advantages including quicker confirmation time (minutes rather than hours or days) and much lower transaction fees. Additionally, the default transaction fee set by most wallets will be enough to ensure swift payment confirmation so there is no need to change wallet settings.

There is no need go into the technical details of how Litecoin works here as it is not necessary for its use. If you are interested, there is a lot of information here.

The first idea you need to be familiar with is that of the 'Litecoin Wallet'. This is similar to your bank account in the traditional sense and is used to store your Litecoins. Each wallet is assigned a Litecoin address (or a number of them). This is a seemingly random string of characters that is unique to your wallet. For example, it will look similar to this: LVEdDEp111Q5B4S9xTjv8WjiDtKLD81RRW.

When transferring Litecoins to another person/company, all you need is their address. Litecoins are divisible to 0.00000001 LTC so you do not need to purchase whole Litecoins, you can purchase just the right amount for your order at CheapChems.

You should use a reliable and secure wallet service. There are many options but be sure to use a wallet that allows you to adjust the transaction fee. We recommend using Electrum-LTC.

Note: Always store your Litecoins in a wallet you have direct control of (i.e have access to the private keys). Never use the exchange as your wallet. Additionally, never send Litecoins directly from the exchange to the vendor as this can cause multiple issues. Ensure you send the Litecoins to an intermediary wallet before sending to CheapChems.

The next task is to purchase your Litecoins. This can be accomplished by a number of methods, but these will not all be described in detail here as each exchange has slightly different criteria and full details are published on their websites. Below is a quick run down of some reliable exchanges. Remember, do not use the exchange as a wallet, you risk losing all of your money if they are hacked.

Coinbase - A large US based exchange that requires ID verification and deposit via bank wire. Instant verification is possible with some banks.

Bitstamp - The best exchange if you are within the SEPA zone (most of Europe). Quick deposit via bank wire with some of the lowest fees in the industry. ID verification required.

Kraken - A large and reliable exchange with a variety of payment methods.

Bitpanda - Buy Litecoins with a credit card, Neteller and SEPA. Aimed at European customers. ID verification required.

You can also use services like Shapeshift and Changelly to convert between different cryptocurrencies. For example, depending on your circumstances, you might like to buy Bitcoins from an ATM and then convert to Litecoin. However, this is not recommended due to the additional fees incurred. 


The Litecoin price can be quite volatile, therefore it is best practice to purchase slightly more coins than you need (around 3-5% more). To calculate how many LTC you need please use the rate at the top of our home page. Our payment processor will also add a 1% fee and a miner fee to your order at checkout, be sure to factor this into your calculations when purchasing Litecoin.

Once you have purchased your LTC you should transfer them to your wallet and then on to CheapChems or your vendor of choice. In order to prevent delays, ensure you are paying sufficient transaction/network fee. You can set the transaction fee by changing the settings in your wallet.

The three step process of purchasing LTC and sending to the vendor is as follows: Exchange > Intermediary Wallet > Vendor's Wallet.