Although an exchange may be one of the best ways to buy Litecoin, it may not prioritize verification. Please, choose exchanges that will confirm the identity of the person behind the personal computer or mobile phone. Cryptocurrencies listed on centralized and decentralized exchanges. This means that not all cryptocurrencies are called Bitcoin.

• But we also want to help you decide where to buy Litecoin in a safe and affordable way.
• There’s a 0.5% Instant Buy/Sell fee, in addition to a 2% charge for debit/credit cards.
• And that’s another reason this crypto asset became so popular among investors.
• However, depending upon your investment type, you might need to filter out some of the best options available.
• Buy USD Litecoin with credit card you use, whether it’s MasterCard or Visa.

Trade without the need to sign up for a crypto wallet or exchange. CoinJar charges a fee of just 1% when buying or selling any cryptocurrency on its platform. The Litecoin prices you’re quoted are based on the best available price on the CoinJar Exchange. When I’ve checked recently, I’ve found that it’s near-enough the real exchange rate.

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Cryptoasset investing is unregulated in most EU countries and the UK. CFD crypto trading is unavailable for clients residing in the UK and US.

It also supports a number of other cryptocurrencies – like Stellar , Ripple , and Chainlink . Litecoin is the fifth-largest cryptocurrency network, with a market capitalization of over $5bn. It was forked from Bitcoin in late 2011 and is designed to be quicker and cheaper to transfer.

Buy Litecoin

Moreover, certain exchanges charge fees for depositing with cards. Know the fees before deciding on investing in Litecoin with credit/debit cards. The sign-up process takes a few minutes and the verification process is also relatively fast. The verification process is also quite convenient as clients can take up to two weeks to verify their accounts. Multiple crypto trading platforms, including eToro, will also let you buy Litecoin with eWallets .

Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions, merchant, and e-commerce payments. Wirex is an application that lets users manage and exchange both fiat and cryptocurrencies. In 2018, Wirex added Litecoin to its list of crypto assets, letting users convert GBP, EUR, and USD to Litecoin directly. If you want to enjoy your cryptocurrency journey, you will have to use exchanges that how to buy litecoin allow you to trade your Litecoin for other digital assets. The best place to buy Litecoin with a credit/debit card is to find a platform that is convenient to use, has acceptable fees and has excellent security. Once you are done with having a fully verified account, you can make free deposits from the numerous payment methods the exchange supports. When we talk about limits, the essential aspect of limits you should take into account is withdrawals.

Best Cryptocurrency Exchanges in NZ

Input the amount to deposit, and select GBP as the currency. This will help you learn more about the possibilities of the Litecoin blockchain as well as the coin’s potential in the market. Litecoin is one of the cryptocurrencies you should consider buying. ❌ There is a lack of educational resources to guide traders. ✅Provides an opportunity to earn interest in your cryptocurrency holdings.

Litecoin news – whether positive or negative – will also have a great impact on the price of the altcoin. Typically, positive news, such as announcements about strategic partnerships will push LTC prices up, and vice versa. Both Litecoin and Bitcoin can be mined and both undergo halving – where the reward for mining a block is a cut by half. But while Bitcoin halving takes place every time 210,000 blocks have been mined.

Payment methods

We suggested earlier that if you are a beginner, you may be better taking it steady with your stakes to start with. You can buy as much Litecoin as you like in reality, but you will likely find your feet at a more comfortable pace by investing small amounts. Don’t forget to make allowances for the aforementioned shifts in value, as this is unpreventable. To give you a better idea – Litecoin might be $80.42 when you hit confirm on your market order.

Litecoin is the native cryptocurrency for the open-source Litecoin network. It was originally developed using the same framework that powers the Bitcoin network – but has a few changes that make transactions faster and cheaper. Just like any other altcoin, you’ll need a cryptocurrency wallet to store your Litecoin . If you choose to instantly buy Litecoin with a connected debit card, then you’ll be charged a fee of 2% instead.

How to buy Litecoin (LTC)?

Deposit Bitcoin, trade any of our 200+ instruments, and withdraw Bitcoin. However, it’s worth noting that credit/debit card fees are still high at 3.99%. If you are new to the crypto space,Binanceis undoubtedly one of the well-known cryptocurrency trading platforms. The massive trade volume and the options for other currencies make it the best.

All transactions are authenticated by a distributed network of nodes and recorded on the Litecoin blockchain. Receiving your salary in stablecoin like LTC can be highly beneficial. This option will be best for those who don’t want to risk getting paid with traditional cryptocurrencies such as Bitcoin or Litecoin, as they may fall in value.

That being said, if you decide to buy Litecoin, you’ll have to be aware of its competitors. Once again, Litecoin has much faster transaction speeds than some of the best and most well-established cryptocurrencies. Unfortunately, we still can’t be 100% sure if Litecoin can keep up with the trendsetters of the crypto market. As you can see, Litecoin is definitely an affordable option, and that’s part of the reason why it attracts so many people who use it for transfers. And if the situation remains the same, Litecoin’s value is likely to rise in the long run, at least according to some analysts.

• Just like other cryptocurrencies Litecoin isn’t issued by a Central Bank or a Government.
• Despite its slight drop-off, Litecoin still has a multi-billion pound valuation.
• You’ll pay just fees of up to 0.5%, regardless of whether you’re a market maker or a market taker.
• Here you have the safety net of several regulatory bodies keeping the space safe.
• Unfortunately, you can’t pay for your cryptos with your debit or credit cards.
• Litecoin is the fifth-largest cryptocurrency network, with a market capitalization of over $5bn.

Paxful provides a live chat enabling users to share payment details. Also, the platform will hold the BTC in escrow as you make your payment. Equally, it’s important https://www.tokenexus.com/ to choose a platform that supports your investment strategy. Understand tax consequences – Every financial asset, including cryptocurrency, incurs a tax.

Step 3: Open A Litecoin (LTC) Broker Account

So, you must pay tax on any gains that you record at the moment of sale. Bitfinex also has competitive fees – 0.1% for fiat deposits and between 0.1% and 3% for withdrawals, depending on the frequency and volume of your transactions.

• Whatever happens, you will need resourceful people to answer your questions.
• Everything considered, it’s a much smoother and safer experience to buy Litecoin via a licensed brokerage.
• These changes were intended to allow for faster and cheaper transactions than Bitcoin.
• Surprisingly, people hold different perceptions about the prospect of the crypto coin in the coming years.
• There is a limit of 84 million LTC – once that threshold is reached, there won’t be any new Litecoin tokens in circulation.

Author: Samantha Yap