You can buy Litecoin through online payment gateways like Venmo and PayPal. But, it is best you use Litecoin-specific applications if you would like to use it for online payments. EToro is a solid FCA-approved platform where UK users can buy and sell cryptocurrencies such as Bitcoin, Litecoin, Ethereum and more plus a plethora of stocks and other assets. Merchants might prefer Bitcoin’s name or Litecoin’s faster transactions and relatively stable price range.
Bitcoin invented the concepts of decentralised finance (DeFi) and distributed public ledgers (called blockchains), with every subsequent token (known as altcoins) following its example. Litecoin (LTC) was amongst the first to retain Bitcoin’s tokenomics, with slight modifications. The first step is to set up a BitPanda account — you can download an app from the Apple App Store and the Google Play store. Once these steps have been completed, you can then buy (and sell) Litecoin.
Recent User Reviews
It gives you absolute control over your cryptocurrency as it securely stores your private key. Bitcoin has for long dominated the blockchain industry, but other cryptocurrencies are also beginning to pull their weight. One of such is Litecoin, a cryptocurrency that has won the hearts of many due to its affordability, technological malleability, and trustworthiness.
- Alternatively, if you are new to Uphold, you will need to sign up for a new account and verify your identity to proceed.
- If we show a “Promoted Pick”, it’s been chosen from among our commercial partners based on factors that include special features or offers and the commission we receive.
- The first token was created on 3 January 2009, and Bitcoin quickly gained a small but enthusiastic following.
- There’s a saying in the crypto world that goes, “not your keys, not your coins”.
- In the U.S., investors can buy Litecoin through centralized exchanges like Coinbase, Binance US, and OKX, which offer a secure and regulated platform for trading.
- To reduce these risks, you can opt for more established and trustworthy exchanges.
Step 6: Complete the Purchase
From crypto exchanges like Binance and eToro to hardware wallets and Litecoin-specific applications, many platforms allow you to buy Litecoins. Here, you should consider all the payment modes supported by the crypto exchange. Best crypto exchanges like Binance and Coinbase usually support bank transfers, Credit and debit cards, and online payments. All examples listed in this article are for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, cybersecurity, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by Crypto.com to invest, buy, or sell any coins, tokens, or other crypto assets.
Gold Verification is the most expensive, but this takes away account limits. Once you’re at the buy page, you can add your payment format and the total fiat you would like to spend. The first step is to set up a Coinbase account — you can either do this on your PC or by downloading the Coinbase app from the App Store (iOS) or Play Store (Android). Also, verification is less of a problem than it is with other providers. It has a strict verification process that must be met before being allowed to trade and exchange. It has a very complex fee structure that also makes the experience difficult.
For example, if you reside in Europe or the United States, you can easily buy Litecoin through Coinbase with just your credit card or even through a bank transfer. Therefore, reading the terms and conditions before proceeding to buy Litecoin is essential. To create an account with your chosen crypto platform, you only need an email address or mobile number. As one of the earliest altcoins, Litecoin (LTC)’s reputation as a low-cost payments crypto steered it to an all-time-high price of $410.26 in May 2021.
Cryptocurrency prices are sensitive to community sentiment, and tracking social media followers and activity can be a great way to determine what people think of a particular token. Bitcoin has over 7.6 million X followers and 7.8 million Reddit followers at the time of writing, indicating an exceptionally large and passionate user base. Block rewards distribute fresh LTC to the ecosystem, halving the amount every four years, as well. The initial block reward was 50 BTC, but gets cut in half roughly every four years through Bitcoin halving events.
More guides on Finder
Financial apps like PayPal also offer a straightforward way to purchase Litecoin, especially appealing to casual investors or those new to cryptocurrency. The article then explores buying Litecoin on centralized exchanges such as Coinbase, OKX, and Binance. Each exchange is highlighted for its unique features, user-friendliness, and security measures. The process of buying Litecoin on these exchanges is explained, including creating an account, completing KYC verification, depositing funds, searching for Litecoin, and executing the trade. Important considerations such as security, ownership of private keys, fees, and regulatory compliance are also discussed. We’ve looked at the three most popular, global and easy-to-access platforms and exchanges.
But while it offers instantaneous conversion, it will require you to give out more personal data which you may not be comfortable with. The amount of Litecoin to be credited to you depends on the value Litecoin holds at the time as well as its trading against other cryptocurrencies. It is vital to have a Litecoin wallet as it’s your gate pass to obtaining the altcoin. Before bitcoin can become a proper means of payment, it still has some hurdles to scale through. Overall, transacting with bitcoin is quite slow, making day-to-day transactions difficult.
Why Choose RockItCoin to Buy Litecoin?
- You can select either of the platforms to buy LTC based on your experience with crypto trading.
- As of this writing, Bitcoin ranks first by market cap at about $1.65 trillion.
- This is because payment methods are based on local country-by-country partnerships.
- The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice.
- Centralized exchanges offer a structured and regulated platform for buying, selling, and trading cryptocurrencies, including Litecoin.
- One great example of a software wallet is the RockItCoin app, which you can download on the App Store and Google Play.
Learn the basics of Bitcoin mining and other cryptocurrency mining opportunities you may not know about. Go to the “My Account” tab and follow the 5 reasons to choose node js instructions in the “Verify your identity” section. Once the verification process is completed, full trading and transfer capabilities will be enabled for your account.
How we chose these Litecoin trading platforms
Don’t worry too much about extra features or coins for now – you can always sign up with another exchange later. Just take a look at today’s LTC price of $69.24, which is significantly down from yesterday’s trading price of $66.54. With Kraken, users can pair LTC with several fiat currencies, not just the U.S. dollar.
The first token was created on 3 January 2009, and Bitcoin quickly gained a small but enthusiastic following. Nakamoto’s identity remains unknown, and Andresen became the Bitcoin Foundation’s lead developer. Reading through various best crypto exchange reviews online, you’re bound to notice that one of the things that most of these exchanges have in common is that they are very simple to use. While some are more straightforward and beginner-friendly than others, you shouldn’t encounter any difficulties with either of the top-rated exchanges. That said, many users believe that KuCoin is one of the simpler exchanges on the current market. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice.
How to Buy Litecoin Complete Guide For 2023
Litecoin has 1.1 million X followers and nearly 368,000 Reddit followers at the time of writing, indicating a large community that may not be as engaged as other cryptocurrencies. Litecoin has a market cap of nearly $6.8 billion at the time of writing. It has a hard supply cap of 84,000,000 LTC, making it inflation-protected like Bitcoin. However, demand for LTC isn’t as high, and each token has been worth between $85–$140 in early 2025. It has a block interval of 150 seconds, compared to Bitcoin’s 600, meaning new blocks are added to the Litecoin blockchain more frequently. Litecoin can also be ‘merge-mined’ with Dogecoin (DOGE), providing miners extra revenue without making LTC an inflationary token.
Use our round-up of the best crypto tax software to make tax reporting easier. If you see colorful charts with a range of prices, you’re probably in the spot market. Be prepared to pay a markup on LTC’s market rate in exchange for the convenience. The instant buy section is usually located under a “Buy now” heading on the platform you’ve chosen.
If you hold Litecoin as an investment, you’ll be taxed on any capital gains you make when you sell it — which includes spending bitcoin is not a legal tender in zambia says central bank it on goods and/or services. In the US, tax obligations also apply to mining, professional Litecoin trading and in a range of other scenarios, so make sure you’re fully aware of what you need to report to the IRS. Note the terminology of “trading pairs,” which comes up quite often on crypto exchanges. In the case of LTC/USDT, bitcoins can be converted into Tether, a stablecoin whose value is pegged to the U.S. dollar. Litecoin was never intended to replace Bitcoin, according to its founder Charlie Lee.
If security is your priority, then hardware wallets like Ledger would be a good choice for you. LTC is a digital value store that traders can exchange for other cryptocurrencies or fiat currencies, and many crypto exchanges, including Crypto.com, support Litecoin. However, it’s included in fewer trading pairs than Bitcoin because demand for LTC is lower. Litecoin is a cryptocurrency created by Charlie Lee in 2011 as a faster alternative to Bitcoin. While Bitcoin is often viewed as “digital gold,” Litecoin is sometimes referred to as “digital silver” because of its quicker transaction times and lower transaction fees. It’s built on a similar blockchain to Bitcoin but is designed to be more scalable, making it an appealing option for daily transactions.
To buy Litecoin using Ledger, first, you would have to buy any version of Ledger hardware wallet. Ledger hardware wallets are known for high-security features as they store cryptocurrencies offline. If you want to buy Litecoin, start by comparing a range of crypto brokers mining ethereum on ubuntu with a gtx 1070 and exchanges available in the US. Look at their features, fees, security and overall reputation to decide which platform is right for you. Whether you’re new to cryptocurrency or well-versed in digital currency, there might come a time when you want to add Litecoin (LTC) to your holdings. Litecoin is often called “the silver to Bitcoin’s gold,” although it’s a completely separate cryptocurrency.