Fast Summary – How To Buy Litecoin
Get a litecoin wallet: Exodus, Ledger, Trust.
Select a litecoin trade: Binance, KuCoin, Kraken.
Make your store and exchange.
Pull back your litecoin from trade to the wallet.
Purchasing litecoin can get confounded for new clients. On the off chance that you need a top to bottom survey on the best way to purchase litecoin, look at the full article beneath.
- What is Litecoin?
- How To Buy Litecoin
- Best Litecoin Exchanges
- Litecoin ATMs
- FAQ on Buying Litecoin
- Bottom Line – Should I Buy Litecoin?
What is Litecoin?
Litecoin (LTC) is a bitcoin elective made in October 2011 by Charles Lee, a previous representative at Google. Further, litecoin was assembled like bitcoin with changes to guarantee quicker exchanges and more proficiency.
Bitcoin and litecoin have a few contrasts. For example, the all out stockpile of litecoin is planned to be 84 million LTC, while just 21 million BTC will be mined.
Likewise, litecoin exchanges take 2.5 minutes to affirm while bitcoin exchanges take 10 minutes, and litecoin utilizes the Scrypt mining calculation, not the same as Bitcoin’s SHA-256.
Step by step instructions to Buy Litecoin
Before you purchase litecoin, you should have a litecoin wallet to store your litecoin after the buy. It is acceptable practice for clients not to keep their coins on trades because of the danger of potential hacks.
There are numerous litecoin wallets to choose from, which are gathered under programming wallets or equipment wallets. Programming wallets like Exodus wallet, Trust, and Jaxx are downloadable applications for any gadget.
Then again, equipment wallets are secure gadgets worked for safe stockpiling of digital forms of money. Top litecoin equipment wallets incorporate the Ledger Nano X and Trezor T.
Additionally, you can peruse our best litecoin wallets audit, for more wallet alternatives.
In the wake of choosing a wallet, the time has come to discover a trade.
Top Exchanges To Buy Litecoin
Purchasing Litecoin on Binance.
Binance is one of the leading cryptocurrency exchanges globally. The exchange caters to both new and advanced users who want to buy litecoin.
You can buy litecoin on binance by depositing your local currency via bank transfer or make payments via credit cards. You can use an instant interface to purchase your litecoin or place an order on the exchange.
Binance is a great place to get started if you are new and want to purchase litecoin. It offers some of the lowest trading fees and has an intuitive interface.
Supported regions – Global.
Buying Litecoin on Coinbase
Coinbase is another popular cryptocurrency exchange. You can buy litecoin on Coinbase through bank transfer and bank cards.
The platform works seamlessly for people in North America and Europe. However, Coinbase fees are expensive compared to other exchanges.
Credit card deposits on the platform attract a 3.99 percent fee while bank purchases come with a 1.49 percent fee.
Although Coinbase has high fees, the platform is a preferred choice for many due to the ease of use and speed.
Supported regions – North America and Europe (South America – Chile only).
Buying Litecoin on KuCoin
KuCoin is another global digital currency trading platform with a significant amount of liquidity. The exchange supports the buying and selling of several cryptocurrencies, including litecoin.
You can buy litecoin on KuCoin using credit cards. KuCoin charges 4% for credit card purchases done on the platform.
Supported regions – North America, Asia, and Europe.
Buying Litecoin on Kraken
Kraken is a San Fransisco based exchange that is one of the largest cryptocurrency exchanges in Euro volume. You can buy Litecoin on Kraken with SWIF, wire transfer, SEPA, and domestic transfers.
Fees you pay on Kraken depend on your trading volume from the last 30 days. The initial spot trading fee for new users is between 0.26 percent – 0.06 percent.
Supported regions – North America, Asia, and Europe
Buying Litecoin on Changelly
Changelly is a quick and relatively anonymous cryptocurrency exchange. The platform is known for its swift crypto to crypto exchange service.
Recently, Changelly has added the option to purchase cryptocurrencies like litecoin directly with a credit card.
According to the site, trades in dollar and euro come with a 0.5 percent fee. However, the fees vary depending on the method of payment and currency.
Supported regions – North America, Asia, and Europe.
Cryptocurrency ATMs are just like the traditional ATM, instead of dispensing cash, they dispense cryptocurrencies.
Litecoin ATMs are cryptocurrency ATMs that let you buy litecoin with cash. Users mostly prefer ATMs because transactions are anonymous and convenient, especially when traveling.
You can find various Litecoin ATMs near you at CoinATMRadar.
Frequently Asked Questions About Buying Litecoin
Can I Buy Litecoin With PayPal?
There are no options that are available for buying Litecoin with PayPal directly.
You can buy bitcoin with Pay Pal and exchange it for Litecoin on platforms like Binance and KuCoin.
Buying cryptocurrencies with PayPal is not cheap. It usually involves a lot of fees and complicated processes.
Can I Buy Litecoin With Credit Card?
Yes, you can buy Litecoin with a credit card. Several exchanges allow you to use credit or debit cards as your method of payment when purchasing litecoin.
Can I Buy Litecoin With Bitcoin?
Yes, you can buy litecoin with bitcoin. Most cryptocurrency exchanges have bitcoin and litecoin (BTC/LTC) trading pairs allowing you to buy litecoin with bitcoin.
Will the Litecoin Price Go Up?
Just like other cryptocurrencies, the Litecoin price is volatile. Whether or not the price will go up is not definite.
However, the litecoin price is controlled by a free market that reacts to market sentiments. Also, the supply and demand of litecoin affect the price.
You should conduct your research on the potential price action of Litecoin instead of following others.
How Can I Earn Litecoin?
You can earn litecoin by mining litecoin or using platforms that pay you in litecoin (LTC). Litecoin Faucets pay you small amounts of litecoin every day for viewing ads.
The Bottom Line – Should I Buy Litecoin?
Litecoin continues to stay relevant as a cryptocurrency. At the time of written Litecoin is part of the top 10 cryptocurrencies in the world based on market capitalization.
Whether or not you should purchase litecoin is up to your preferences and financial intentions. You should conduct your research and invest wisely.