In this guide, I will review the various ways you can buy Litecoin online and offline, as well as how to store it. There are several different order types that you can make on the spot market. Most exchanges let you buy as little as $5 worth of LTC, if not less.
He coordinates a distributed team of journalists to help further Finder’s mission of helping people make better financial decisions. He has been using Bitcoin since 2013 and began working in the industry in 2017. Once you’ve bought some LTC, think about what your short and long-term goals are. This will help you decide whether to keep it on an exchange, or move it to your own wallet. Crypto exchanges founded and based in the US are required to register with the Financial Crimes Enforcement Network (FinCEN), a division of the US Department of the Treasury. This bureau safeguards the US financial system by working to prevent money laundering, terrorist-financing activity and other financial crimes.
Another way to buy crypto is through crypto exchanges, which make matches between buyers and sellers. They make money largely through fees on the transactions carried out on their platforms. Many sell Litecoin either for cash or in trade for other digital assets. Litecoin, a cryptocurrency adapted from Bitcoin to facilitate digital payments, is one of the most widely available digital assets. Many top crypto exchanges and platforms allow users to buy Litecoin. If you want to store litecoins for the short or long term, you need a secure wallet.
How to buy Litecoin with a debit card in your local currency?
Coins are sent almost instantly once the buying process is completed. The company has been around for a long time (since 2013) and https://www.cryptonews.wiki/ is considered trustworthy. Ever since Litecoin was created back in 2011, it was considered Bitcoin’s popular younger brother.
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. This is a standard security procedure for most exchanges in the US and requires you to upload some photo ID, and in some cases a selfie with today’s date. The simpler algorithm that governs Litecoin’s network allows for faster transaction processing. Depending on network congestion, transactions on Litecoin are completed within seconds.
- This service is useful when you need to switch between fiat currencies and cryptocurrencies even when there is no direct market available for trading.
- 76% of retail investor accounts lose money when trading CFDs with this provider.
- Our information is based on independent research and may differ from what you see from a financial institution or service provider.
- You can use this method not only for purchasing Litecoin instantly with a card issued in your local currency but for purchasing other cryptocurrencies as well.
Please appreciate that there may be other options available to you than the products, providers or services covered by our service. You can add funds to your CEX.IO account using a credit card and then use one of these options to purchase Litecoin. However, the Instant Buy service also has a unique feature that allows users to pay with a credit card and purchase crypto in a single transaction. It makes the Instant Buy service one of the most convenient and fastest ways to buy Ethereum (ETH), Bitcoin (BTC), Litecoin (LTC), and many other cryptocurrencies. The whole process of purchasing crypto using this service usually takes less than five minutes.
Buy Litecoin (LTC) instantly.
Just type in how much you want to spend in USD and let the exchange work out the rest. KYC is usually approved instantly, but in rare cases, you may have to wait a few hours or days. If you want to buy Litecoin with US dollars, you’ll need to pass a Know Your Customer (KYC) check. If you’re ready to get started, read on for step-by-step instructions and a list of platforms you can use to buy Litecoin in the US. When you open and fund an eligible Charles Schwab account with a qualifying net deposit of cash or securities.
Litecoin has many similarities with Bitcoin since it is also one of the first Bitcoin forks. Like Bitcoin, Litecoin cryptocurrency is predominantly used as a means of payment to conduct international transactions. For example, Litecoin uses another hashing algorithm for mining to reduce the effectiveness of specialized mining equipment. Litecoin’s average block time is 2.5 minutes, while Bitcoin has 10 minutes.
Decide whether Litecoin is right for you
In addition, Litecoin has a four times bigger max supply compared with Bitcoin cryptocurrency. PayPal allows users in some countries to purchase Litecoin directly on its platform, as well as transfer them to a third-party wallet if you’re based in the US. The only https://www.bitcoin-mining.biz/ other direct option to buy Litecoin with PayPal is through Coinbase, but once again, this is only available to US users. The company was founded in late 2014 and has since grown to become one of the more popular options to purchase cryptocurrency around Europe.
How to Buy Litecoin (LTC) – A Beginner’s Guide
For example, CEX.IO mobile app features the Instant Sell service, allowing you to sell bitcoin or any other crypto and withdraw fiat funds to your payment card instantly. This service is useful when you need to switch between fiat currencies and cryptocurrencies even when there is no direct market available for trading. Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site.
Litecoin (LTC) 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. If you are buying LTC to speculate on its price in the short term, you might want to buy it on an exchange such as Public or CEX.IO, platforms that custody the asset for you. With CEX.IO, you can buy BNB, LTC, BTC, and 100+ other cryptocurrencies using your bank card issued in your local currency. For that, you first need to select the primary currency for the transaction from the list of supported fiat currencies on CEX.IO. Finder monitors and updates our site to ensure that what we’re sharing is clear, honest and current.
When you use Instant Buy to buy litecoins with your local currency, you select primary fiat currency in the dropdown list next to the list of supported cryptocurrencies. You can use this method not only for purchasing Litecoin instantly with a card issued in your local currency but for purchasing other cryptocurrencies as well. For example, you can buy Dogecoin with a credit card in your local currency, making a single transaction via the Instant Buy service. Selecting the best place to buy LTC online in the USA largely depends on the preferred payment method and supported services. So if you want to use the crypto exchange to buy crypto with a debit card, you could discover the platform provides such services to U.S. customers. Paying with cryptocurrency is an option if you already have some digital assets in your portfolio and want to buy Litecoin without increasing your overall exposure to crypto.
Our information is based on independent research and may differ from what you see from a financial institution or service provider. When comparing offers or services, verify relevant information https://www.coinbreakingnews.info/ with the institution or provider’s site. 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.
This will usually allow you to deposit cryptocurrency, but not USD. If this is your first time buying cryptocurrency you’ll need to look for a platform that accepts US dollars, like Public or CEX.IO. Litecoin is one of the oldest and most decentralized cryptocurrencies that aims to be a payments-focused alternative to Bitcoin (BTC). Created in 2011 from a modified version of the Bitcoin Core code, Litecoin allows anyone to make payments or transfers with competitively low fees.
On the downside, don’t expect anyone from their support to answer if you encounter any issues (they have created a name for themselves in that field). For a complete explanation about hardware wallets, software wallets and additional types of wallets, make sure to watch our Bitcoin Whiteboard Tuesday episode about wallets. Today, there are two leading hardware manufacturers to choose from – Ledger and TREZOR. Both companies have different models of hardware wallets that will get the job done. Before you go off to buy Litecoin, you will need a wallet to store it in.
Alternatively, you can always buy Bitcoin and swap it for Litecoin using Binance. Once you decide on an exchange, open an account and buy your Litecoin. Make sure to withdraw the Litecoin from the exchange to your personal wallet. The company is well-established and has been selling cryptocurrencies since 2012.
