First things first. If you're only interested in owning litecoin, you should probably just buy it from an exchange such as Coinbase. If, on the other hand, you want to try your hand at mining litecoin – because you think you have the time and resources necessary to make a profit, because you want to help keep the litecoin network decentralized, or out of a sense of curiosity – this guide will give you a sense of the concepts, an introduction to the vocabulary, and suggestions for further research.