Following hot on the heels of Bitcoin, Litecoin was one of the first Proof of Work, peer-to-peer digital currencies to capitalise on the whitepaper by Satoshi Nakamoto. For these reasons, and more, it is arguably one of the safest cryptocurrency investment opportunities available today. It is also one of the few crypto platforms where users can dabble in other assets such as stocks. If you’re looking for a simple way to buy Litecoin, all you need to do is sign up with a crypto exchange.
This makes it less scarce, but more suitable for daily transactions. It was a fork of Bitcoin’s code with some important modifications. As for selling, that’s just the reverse of buying from an exchange or person. Move them to Gdax and it’s same account and log in as your coinbase then transfer to Trezor.
There are three supported fiat currencies at the moment — the U.S. Litecoin is a cryptocurrency that was designed to provide fast and low-cost transactions without the need for intermediaries. Litecoin is known as one of the first altcoins in the crypto market. Paxful is an easy-to-use peer-to-peer trading platform with a lot of payment options.
The bottom line for Coinbase is this – if they are supported in your country, they are probably the cheapest and fastest option for buying Litecoin. If you’re buying a small amount, that shouldn’t make that much of a difference and sometimes it’s better to pay a little extra for an easier, faster process. Even though you can withdraw or send coins from eToro to other people, this XLM part is difficult to do. Therefore, the platform is more suited for price speculation.
How to Buy Litecoin Anonymously?
The coin adopted the Scrypt hash function that does not demand significant processing power compared to SHA-256 — the one hash function that the BTC network is operated on. Since the internet currency is fully decentralized and community-owned, anyone can manage a Litecoin wallet and remain anonymous. As a Bitcoin fork, it operates on the proof-of-work PoW consensus mechanism, which utilizes cryptographic algorithms to secure the network. Get any of the 400+ supported cryptocurrencies in mere minutes with just a few clicks and at the best rates on the market. Purchase your crypto with any payment method that suits you best.
- This is ultimately up to you, although we can supply you with information about the fundamentals and potential of Litecoin.
- Until you’ve done this, you either won’t be able to buy crypto, or you’ll only be able to buy a small amount before hitting your account’s limit.
- Because BitGo covers Cryptowallet, the funds are guaranteed, and customers have access to customer service 24 hours a day, seven days a week.
- A company or individual that facilitates the buying and selling of cryptocurrencies on exchanges is called a cryptocurrency broker.
- Instead of using fiat currency, however, Litecoin conduct transactions in units of Litecoin .
The quickest way to purchase Litecoin via online banking is by using it as a payment method with eToro. This service has fast sign-up processes and simple interfaces for buying LTC, making it ideal for beginners. If you’d like to buy Litecoin at low rates, the best option is an exchange due to its competitive fees.
How to store Litecoin securely?
Apart from its protection measures that safeguard your personal and financial information, it also offers other benefits, such as low fees and fast processing times. Means if you are buying buy LTC with a credit card, you can spend your coins for certain specific online purchases. Allows you to instantly buy Litecoins with your credit card, debit card or a wire transfer, including SEPA/Swift transfers.
Do you need ID to buy Litecoin?
Buying Litecoin (LTC) is a relatively simple process to follow. You just need some photo ID to create an account on a platform that sells it, then link a payment method to buy it with, like a bank account or debit card.
Many people use as a store of value in the hopes of making a profit later on. Through CryptoWallet, you can also spend Litecoin in stores or online with the CryptoWallet debit card! You can get a LTC wallet online and a debit card by downloading our app. You can use the CryptoWallet app to get the most out of your Litecoin funds.
If you are looking for exchanges to buy Litecoin from, we also recommend this great list from Invezz with reviews of each platform. Litecoin has consistently been one of the top 10 cryptocurrencies by market capitalization. That said, I believe Bitcoin is the safest bet of those 3. Over time, this will allow you to scale into a position at an average price, which takes out a lot of the guesswork. The company is well-established and has been selling cryptocurrencies since 2012.
Where can I invest in Litecoin?
It's also possible to learn how to buy Litecoin using a cryptocurrency exchange. These exchanges allow you to exchange one coin for another, as well as use a bank transfer, credit card, or debit card to purchase coins. Some of the best cryptocurrency exchanges include Coinbase, Kraken, Gemini, and Binance.
Buy bitcoin with a credit card or use other fiat payment methods. Buy Litecoin in minutes using Visa, Mastercard, and all major credit and debit cards via the widget on this web page. You can also buy Litecoin on MoonPay with bank transfers, Apple Pay and Google Pay.
Fund your account with USD or crypto
However, this option may encounter higher fees depending on your card type. Alternatively, eToro has user-friendly interfaces, making it convenient for beginners to get started with their platform. This well-established Australian broker offers excellent educational content to teach you how to trade and invest safely. Most importantly, Eightcap offers an advanced trading interface to fulfill the diverse requirements of traders while trading digital asset like Litecoin. However, although Eightcap has amazing tools for buying LTC, the platform’s fee rates are considerably higher than previously mentioned options.
A hyperlink to or positive reference to or https://www.beaxy.com/ of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services. Software crypto wallets can be downloaded onto a mobile or desktop computer and are generally free and easy to use. Hardware wallets can be expensive and less user intuitive but provide the best security.
What Cryptocurrencies Are Similar to Litecoin?
The funds will be deposited in your online LTC wallet. As one of the first cryptocurrencies after the advent of Bitcoin, Litecoin has the advantage of being one of the most talked-about cryptos in the blockchain space. As a store of value, many holders of Bitcoin and Ethereum also hold Litecoin. Its longevity, large community, and dedicated team mean that Litecoin is and continues to be one of crypto’s great survivors. Known as digital silver, Litecoin remains one of the best ‘store-of-value- cryptocurrencies available today.
This guide will show you where and how to buy Litecoin online and why it is so popular. Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners. If you’re new to crypto, you might not be used to having choices for where to “store” an asset. Receive crypto from anyone instantaneously through Guarda web browser, mobile phone or desktop app.
- You can use the CryptoWallet app to get the most out of your Litecoin funds.
- It allows you to deposit funds using MasterCard, Visa card, or PayPal Debit MasterCard.
- Cryptocurrencies are a high risk investment and cryptocurrency exchange rates have exhibited strong volatility.
- For better coin compatibility, you consider buying a stablecoin like USDT or BUSD first, and then use that coin to buy Litecoin .
- The network is secured and enables individuals to manage their finances.
- Trade page, find multiple crypto-to-fiat and crypto-to-crypto markets available for Litecoin.
After the verification done enter billing address detail. Click on Upload ID. Here, we have selected Driving License. Litecoin pioneered such technologies as Lightning Network and Segregated Witness that were then adopted in the Bitcoin network. It is advisable to send a small number of tokens to test the address before you transfer the entire amount. Click on “Trade” and you will see the screen to buy Litecoin with the current price and a graph on it.
You will then be taken to a confirmation page where you can verify your order. Boost your trading impact and reaction time in over 80+ cryptocurrencies via instant access to your portfolio with the LiteBit app. Don’t forget to record the amount you spent and the amount of Litecoin you received for tax purposes. When you either sell Litecoin or trade it for another cryptocurrency, that’s considered a taxable event. Choose Litecoin, enter the amount you wish to buy, and complete your transaction!
best place to buy litecoin onlinely store Litecoin to speculate on price gains, buy Litecoin with cash or other cryptocurrencies, or spend Litecoin online and in stores. With our online cryptocurrency wallet, you can finally use Litecoin as real money. EToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. EToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors. We support both credit and debit cards – VISA and Mastercard.
You can buy and sell any digital currency and keep track of them in one place. Within a few minutes, your funds will be shown in your account, and you can proceed to buy Litecoin. But, with Recurring Buy you can mitigate the price fluctuation risk by investing the same amount consistenly.