LTI's are a way to add external tools to Canvas. (LTI stands for learning tool interoperability.) In Canvas, LTI's are referred to as external apps. For example, you can add the YouTube app.

Click on Settings in the course navigation side bar.

Select the Apps tab [1]. This will take you to the App Center where you are able to choose from a variety of apps and install them in one click. Alternatively, click View App Configurations [2] to install an app manually.

Click the Add New App button.

Click the Add New App button.

[1.] Enter the name of the app.
[2]. Enter Consumer Key
[3]. Enter shared secret. If one isn't provided you can type in anything (such as test). 
[4]. Configuration type is by URL, manual entry or XML. 
[5]. Enter the URL to match the app to Canvas.
[6]. Type the appropriate URL or domain in the domain field.

[7]. Select the privacy drop down menu to set the privacy settings:

1. Anonymous: No identifying information about the user will be sent to the vendor
2. Name Only: The user's name is the only identifying information sent to the vendor.
3. Email Only: The user's email is the only identifying information sent to the vendor.
4. Public: Various identifying information (name, email, Canvas ID, SIS ID of the course, SIS ID of user, etc.) is sent to the vendor.

[8]. Type a custom field in Custom Fields.
[9]. Type a description of the app in the Description field.