how to buy litecoin

However, in all but a few cases – these exchanges all have one thing in common – they operate without a regulatory license. This means that you can never be 100% sure that you can buy Litecoin safely. As such, had you bought Litecoin in its early days, you would have paid less than $3 when it first hit a public exchange. Since then, the digital coin has experienced unprecedented returns. A section of Redditors is also concerned about Charles Lee’s occasional statements concerning the future of Litecoin.

Select a seller to work with, paying attention to their chosen payment method, and begin arranging the details. You then pay in the agreed-upon method and mark the payment as complete. Once the seller confirms you paid, your Litecoin is released. There are options to cancel the trade as well as open a dispute. Using, you can choose to purchase Litecoin in person using cash or online via an agreed-upon payment method.

Hold and sell your Litecoin

It is important to note that between 74-89% of retail investors lose money when trading CFDs. These products may not be suitable for everyone, and it is crucial that you fully comprehend the risks involved. Prior to making any decisions, carefully assess your financial situation and determine whether you can afford the potential risk of losing your money. Any investor can accept LTC once he or she provides their cryptocurrency wallet address, through which a third party can transfer LTC.

Litecoin is also more affordable than Bitcoin, with each coin currently trading at around $57 compared to $19,000 for Bitcoin. Finally, Litecoin has a much larger supply than Bitcoin, which means that there is less chance of inflationary pressure driving up prices. Overall, Litecoin is a solid investment option for those looking for an alternative to Bitcoin. TRASTRA provides an easy service that allows customers to buy LTC using a debit or credit card in a few simple steps. Litecoin currently brands itself as “the cryptocurrency for payments”.

Step 2: Download the eToro App (Optional)

Cashing out your Litecoin at eToro is a completely different experience than the aforementioned crypto exchanges. Sign in to your account and once in your personal portfolio screen, click ‘Sell’ by Litecoin. If not purchasing via an online broker, then you will buy Litecoin and store it in your personal crypto-wallet. This crypto-wallet will be downloaded to your home computer and/or mobile phone. This tells your online broker that you want to enter the Litecoin market at the current, or nearest price.

how to buy litecoin

It is one of the fastest payment methods to buy Litecoin because transaction processing is almost instantaneous. You can, for instance, buy Litecoin with credit/debit cards on eToro. Here, the minimum trade amount is $25 but the minimum initial deposit is $200. There are no charges on credit/debit card deposits and withdrawals.

What to Look for in a Litecoin (LTC) Trading Platform?

Litecoin was created in 2011 by former Google employee Charlie Lee as a ‘lite’ version of Bitcoin, implementing several changes to the Bitcoin source code. These include the hashing algorithm, the block transaction times, and the overall amount of Litecoin that can be mined into existence. These changes were intended to allow for faster and cheaper transactions than Bitcoin. This ability makes it highly convenient for those in the UK who want to buy Litecoin just once.

Will Litecoin reach $1,000?

Investors who are particularly bullish on Litecoin often discuss Litecoin price prediction $1,000. To reach $1,000, Litecoin will have to rise 12.5x, which translates to a market cap of 72.9 billion.

Instead of withdrawing fiat money, you insert it into the ATM. The machine will display how many LTC coins you will get for your money. When confirmed, you will receive a printed receipt containing the details of your transaction. You then need to claim the Litecoin via a private wallet transfer. This makes sense given that the cryptocurrency markets go hand in hand with such a potentially volatile environment. The same applies to both experienced crypto investors and beginners alike.

Note, however, that only US residents can buy Litecoins directly on PayPal at the moment. Further, your ability to buy Litecoin with PayPal on an exchange will largely depend on your choice of exchange and country of residence. Once you are done with account verification and have deposited some funds into your account, you can start buying Litecoin immediately.

  • Crucially, you need to perform some research to determine whether a Litecoin investment is viable in the long run.
  • For example, although you need to deposit at least $50, the minimum Litecoin investment is just $25.
  • Sending and receiving funds with TRASTRA is easy, convenient, and secure.
  • Some experts are predicting big things, while others believe it will eventually be replaced by a more advanced cryptocurrency.
  • You can also check out our cryptocurrency glossary, which aims to explain some of the common jargon.
  • Only leave on an exchange, the amount you want to actively trade.
  • One of the easiest and cheapest ways to buy LTC is to use the eToro trading platform.

You need to have funds in your account to start buying Litecoin. Your prospective broker or exchange is likely to offer you many options for funding your account. Most common payment methods include debit cards, credit cards, wire transfers, e-wallets, and cryptocurrencies.

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Knowing how to buy Litecoin and make it work for you is relatively straightforward. The most popular wallets tend to be app-based because of their ease of use and availability. Apps like Coinbase, Freewallet and Jaxx are the most popular.

  • Here are the top three places to buy Litecoin, ranked according to their simplicity for beginners, fees, customer reviews, and safety ratings.
  • The Reddit community holds a mix of views when it comes to Litecoin and its future.
  • Additionally, LTC is a peer-to-peer digital currency that enables instant, near-zero cost payments to anyone across the globe.
  • Coinbase is a popular cryptocurrency exchange founded in 2012.
  • There are loads of ways to buy Litecoin from some of the top brokers and traders in the business.

Have a copy of your photo ID to hand and follow this guide to get started. It continues to support more and more cryptocurrencies and can be bought from the manufacturer’s official website for less than £60 (incl. delivery). One of my favourites and highest-ranked hardware wallets is the Ledger Nano S. Fees to withdraw your Litecoin (LTC) from Coinbase to somewhere else (e.g., a hardware wallet) don’t cost much either. Here’s an overview of the cheapest places to buy Litecoin (LTC) in the UK with the 3 most popular methods. Because Litecoin is on the internet, they are even easier to steal and much harder to return and trace.

BC Bitcoin

We love Bitstamp because it has a proud reputation for top performance over more than decade. Bitstamp offers trading on 75+ cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, while staking is available on Ethereum and Algorand. The most common decision is to buy from a cryptocurrency exchange, some of which will accept GBP while others only accept USD or EUR. Most other exchanges simply offer a market rate or the option to buy and sell with peers.