How to Buy Litecoin - The Ultimate Guide

While all the other cryptocurrencies want to distance themselves from Bitcoin, Litecoin (LTC) accepts the brotherhood. It is not even trying to outdo Bitcoin, instead it is just trying to live outside the shadows of its gigantic sibling. Nonetheless, this did not keep the value of LTC from increasing by over 7000% when Bitcoin only had a 1700% increase between January and November 2017.

But what makes Litecoin such an interesting proposition? While Bitcoin has always been revered as the top cryptocurrency, Litecoin wanted to create a means of transacting digitally in a cheaper and everyday way. This caused huge adoption amongst the public, which in turn, saw the prices skyrocket over the last few years.

How to Buy Litecoin -  The Ultimate Guide

(LTC)

Litecoin

Price

£45.32

24H Change

-2.27

7 Days Change

-6.21

Market Cap

£2.89B

Buy Litecoin

Buy Litecoin in 5 Quick Steps

  1. Register free with eToro to open a trading account.
  2. Try a demo account before you hit the Deposit button.
  3. Choose a payment method (Paypal, credit card etc) & deposit into your account.
  4. In the ‘Trade Markets‘ section on the left, select Crypto and then Litecoin.
  5. Hit trade, a ticket will open, choose your risk preferences and then click ‘Open Trade‘.

Where To Buy Litecoin

eToro
Key Features
Accepts customers from the USA
Award-winning Cryptocurrency trading platform
Wide variety of crypto assets
One of the fastest growing brokers in the world
Min Deposit
$50
United States
Key Features
Accepts customers from the USA
Award-winning Cryptocurrency trading platform
Wide variety of crypto assets
One of the fastest growing brokers in the world
Top Coins
Payment Methods
Wire Transfer, Bank Transfer
eToro is a social trading platform based in Cyprus. The company has revolutionised the online trading industry by introducing innovative ways for traders to capitalise from the financial markets.
Cryptoassets are highly volatile unregulated investment product. No EU investor protection. Your capital is at risk.
PaxForex
Key Features
Low minimum deposit
Founded in 2010
Spreads from 0.3 pips
Min Deposit
$200
United States
Key Features
Low minimum deposit
Founded in 2010
Spreads from 0.3 pips
Top Coins
Payment Methods
Credit Card, Debit Card, Wire Transfer, Bitcoin, Ethereum, Neteller, Perfect Money, QIWI, Skrill, UPayCard, WebMoney
You are unlikely to find a more comfortable broker than PaxForex. Our company provides customers the best possible conditions for successful Forex\Cryptocurrencies, Spot metal\Stocks trading. We have offers for both beginners and experienced traders. The main engines of our progress at the financial trading t are spotless reputation; focus on customers and innovative approach to business development. Our achievements have been confirmed by the successes of every one of our traders. Today we are a well-known lowest spread broker trusted by hundreds of thousands of customers worldwide. We assure you that working with PaxForex ensures the highest level of service, strict compliance with all the terms of trading, and reliability provided by the most advanced technologies.
Coinbase
Key Features
Trusted provider
Online Wallet
2 Factor Authentication
Beginner friendly
Min Deposit
$
United States
Key Features
Trusted provider
Online Wallet
2 Factor Authentication
Beginner friendly
Top Coins
Payment Methods
Credit Card, Debit Card, Euro Bank Account, 3d Secure Credit Card
Coinbase is one of the first places that made it easy to buy bitcoin and has since become a widely trusted exchange in the market.
Bitcoin Revolution
Key Features
Partnered with only top quality, reliable and professional brokers
Easy to use trading platform with auto or manual trading options
No hidden fees with free to use software
Min Deposit
$200
United States
Key Features
Partnered with only top quality, reliable and professional brokers
Easy to use trading platform with auto or manual trading options
No hidden fees with free to use software
Top Coins
Payment Methods
Visa, Mastercard, Credit Card, Debit Card, Wire Transfer
Bitcoin Revolution is an automated trading platform that trades bitcoin for you. It will get you into a trade and close the position, all you need to do is turn it on.

 

Buy Litecoin with eToro

eToro is the leading CFD provider when it comes to cryptocurrencies and buying Litecoin. They were one of the first to launch Litecoin on their trading platform and continue to be a market leader in the cryptocurrency space. If you’re looking to buy Litecoin, then look no further than eToro, see below our 3 step process to getting started!

Step 1: Registration

eToro is free to sign up and has a demo account that you can use to practice before buying Litecoin for real. To sign up, click the button below and fill out the form; name, email, phone and then you’ll need to create a password. Next you’ll be required to verify your account by clicking the link in your confirmation email.

Step 2: Deposit

Once you’re account is verified, you’ll need to deposit funds into your account to make it live. We recommend starting with the minimum of $250, start small to get used to it and then begin to add more over time. Choose your payment method, eToro offers several options, pick your favoured and then fill out your details and click submit.

Step 3: Buy Litecoin

Once you have funded your account, it’s time to buy Litecoin. eToros platform is easy to use, to find Litecoin, click ‘Trade Markets’ on the left, then you’ll see ‘Crypto’ at the top. Once in this section, you will see eToros full list of cryptocurrencies. Hit Litecoin and then ‘Trade’. A ticket will open, manage your risk and then ‘Open Trade’.

Buy with Investous

Highly rated and new CFD provider, Investous, has burst onto the market and established itself with a solid reputation. It’s smooth and streamlined platform makes trading easy for any beginner looking to take the dive into the world of cryptocurrencies. It offers over 270 different assets and a great range of coins.

Step 1: Registration

Signing up is simple, click the link below and once on their homepage, hit the ‘Sign Up’ button in the top right. Add your name, email and phone number, choose the account type and then click ‘Start Trading’. You’ll receive an email to verify your account before you can deposit into your account.

Step 2: Deposit

Once you have created an account, you will login and be required to fill out a questionnaire. Once complete you will be asked to choose how much you want to deposit and the payment method you intend to use. We always recommend sticking with the minimum amount before adding more once you get used to the platform.

Step 3: Buy Your Cryptocurrency Now

Now you have deposited, to buy bitcoin you will see the list of assets Investous offers on the left. Use the filter option and choose ‘Cryptocurrencies’, you will then find Bitcoin. Click and you will have the option to buy and sell. Decide how much you want to risk, click buy and then ‘Trade’.

Buy with Binance

Binance is one of the largest cryptocurrency exchanges on the planet. It grew quickly after its launch in 2017 and now even has it’s own token, Binance Coin. It is one of the best places to buy and trade some of the more obscure altcoins, they have a huge range that is always changing with new coins being added and old ones being removed. For security reasons, we would always prefer to buy using a CFD provider like eToro.

Step 1: Registration

To get started you need to go to the homepage and click ‘Register’. You’ll be taken to a sign up page where you need to fill out the fields; email and password. You’ll be sent a verification email, click the link to activate your account. It’s also advised to set up 2FA.

Step 2: Deposit

Binance now allows you to buy bitcoin with credit card, a relatively new feature. Other coins available by credit card are Ripple, Ethereum, Litecoin and Bitcoin Cash. Once you’ve bought one of these you can then exchange for any other coin on the platform

Step 3: Buy Your Coins

Depending on your experience level you have the choice of the basic or advanced exchange. If you’re unfamiliar with the Binance platform then we’d recommend using the basic version. click on Bitcoin and then fill out the ticket to make the exchange.

Should You Invest in Litecoin?

Litecoin took the market by storm. Most cryptocurrencies have done the same before, but eventually falling back to their initial price. Therefore, the price is not the best way to consider the investment profitability of a coin. Obviously, the cryptocurrency industry is anything but stable, and Litecoin is no exception. Consequently, a knowledge of the coin’s intrinsic value is the only way to prove if it is worth putting in your money.

Litecoin has publicly called itself a clone of Bitcoin, but there is much more depth to this – as a clone (or a fork, as it is known in the cryptocurrency world) isn’t a simple copy and paste. It is therefore essential to have a look at the differences between them and what has been changed from the Bitcoin core to form Litecoin.

Litecoin vs. Bitcoin

There are actually quite a few fundamental differences between Litecoin and Bitcoin. We’ve outlined a few below;

 

What Makes Litecoin Different to Bitcoin?

Most experts in the industry consider Bitcoin as the gold of cryptocurrencies, useful for value storage, whereas they see Litecoin as the silver, for daily use. The high cost of Bitcoin leaves Litecoin as the best payment option for the daily transactions. As the adoption of Litecoin increase, so will the market value.

In light of the above, it is only rational to conclude that Litecoin is worth investing in. However, as its CEO and founder once pointed out, if you cannot handle the volatility of the industry, do not buy. Cryptocurrency prices are highly volatile, which can lead to huge gains or devastating losses. Be ready for it.

Pros and Cons of Buying Litecoin

Litecoin has several advantages over Bitcoin as well as other cryptocurrencies. However, it also has a modest share of drawbacks. We’ve outlined some here;

Pros

Cons

 

What are the Best Payment Methods to Buy Litecoin?

 

Storing Your Litecoin

Most exchanges do not provide a place to store your coins. Even if they did, it is still not advisable to leave your coins lying around in the exchanger’s wallet. Safeguard your investment by having a coin wallet from secure cryptocurrency wallet providers. Here are the types of Litecoin wallets you can use:

Buying Litecoin in Your Country

In spite of its growing publicity, cryptocurrency still has not reached a universal acceptance. It is banned in several countries and limited in others. That is, some countries do not prohibit the buying and selling of cryptocurrencies, but ban their usage as legal tender. Unfortunately, other issues may limit your access to Litecoin.

Besides, a country or state’s regulations, exchanges also determine where you can buy or sell from. BitPanda, for example, is limited to Europe, Coinbase is only available in about 33 countries, Coinmama is not available in individual states in the US, and the list goes on.

Financial institutions may also stand on your way to buying Litecoin. There are countries where banks prohibit transfers to cryptocurrency website or accounts in a different state or country. Therefore, if you plan to invest in Litecoin, check your bank’s policies on cryptocurrency.

Buying Litecoin in the UK

Buying Litecoin in the UK is not much different than buying Litecoin anywhere else in the developed world, at least in 2019. Modern crypto exchanges are increasingly international in their scope, and updates to the standard method of ownership based investment is increasingly crypto’s accessibility to newcomers.

Even so, because not everyone understands how crypto exchanges operate, and because there are some Litecoin sources which favour UK residents over anyone else, we’ll give you a quick guide about how to invest in Litecoin. Follow these methods, and you’ll be able to make profits on the next Litecoin price upswing!

UK residents will find that eToro is the easiest investment channel for Litecoin. See our review here —> eToro Review.

Is There a Difference Between Buying and Trading Litecoin?

Yes, though the line may be blurry the first time. Buying Litecoin implies that you intend to own the coins. It means you want to have coins at your disposal and then use them to do whatever you wish, wherever you feel. As an investor, you are probably thinking of keeping them for a long time.

Trading, on the other hand, is where you buy low and sell high on a trading platform. You may buy Litecoin on the platform, but you cannot transfer them to your wallet. All you can do is use them to leverage your prediction on the future prices of other cryptocurrencies.

Buying focuses on the long term prospects of the coin. For example, a person who bought Bitcoin in 2009 when the price was less than 30cents and waited for nine years made considerable gains in 2018 when the price rose to over £10,000. The goal of the person who buys for the long term is to have as many coins as possible and then sell years later.

The objective of the trading is to exploit the brief spikes in prices. For example, the person who bought Bitcoin in January 2017 at £900 and kept it for a few months, made a profit of almost 2000% at the close of the year. Though Bitcoin is used here as a case-in-point, the same applies to Litecoin.

If you are not sure whether to buy or trade, try both. Once you have a feeling of the industry, then you can choose one. However, in spite of the path you opt for, speculation still plays a significant part.

Remember, financial authorities regulate and licence the operations of reputable brokers. The same cannot be said for cryptocurrency exchanges since they offer limited protection to the security of your funds. It is why some do not even provide wallets for you to keep your coins.

What are the Fees Involved in Buying Litecoin?

The cryptocurrency exchange is a booming business, and for a good reason; there are so many people coming into the industry, and new coins appear every day. The platforms make money through the fees they charge, both hidden and apparent.

Each exchange, trading platform, or broker provides a fee system. Unfortunately, most people do not check these terms and end up spending more than they should on a given transaction. Here is a quick highlight of the general costs you will likely face when buying Litecoin;

It is crucial to note that you should not judge an exchange based only on the fees it charges. Some exchange and broker platforms that charge low or almost zero transaction and deposit fees make up for the same in high withdrawal charges and vice versa.

The important factors to consider are reliability and safety. You would rather pay more for a safe and reliable service than try to save a few cents only to end up losing all your money.

Broker Fees vs. Exchange Fees

Brokers are platforms that focus on bringing together sellers and buyers. They only get a commission from the deal. The main difference between a broker and an exchange is the amount of Litecoin they can sell per transaction. Brokers are in for the big deals, which would take many operations on the exchange.

As a result, you make significant savings if you buy in bulk through a broker than the exchange. For small deals, stick to the latter since the fees will be low.

eToro
Key Features
Accepts customers from the USA
Award-winning Cryptocurrency trading platform
Wide variety of crypto assets
One of the fastest growing brokers in the world
Min Deposit
$50
United States
Key Features
Accepts customers from the USA
Award-winning Cryptocurrency trading platform
Wide variety of crypto assets
One of the fastest growing brokers in the world
Top Coins
Payment Methods
Wire Transfer, Bank Transfer
eToro is a social trading platform based in Cyprus. The company has revolutionised the online trading industry by introducing innovative ways for traders to capitalise from the financial markets.
Cryptoassets are highly volatile unregulated investment product. No EU investor protection. Your capital is at risk.

If this article has given you the confidence to start investing in cryptocurrencies and you want to buy Litecoin, click the button to get started.


Frequently Asked Questions

  1. Why Buy Another Coin Other Than Litecoin?

    Mainly because it’s always good to diversify your investment portfolio. Having two or more investment vehicles will cushion you if Litecoin takes a hit from other competitors and market factors. Ideally, you want to spread your investments, and make sure you could profit on the growth of other technologies all whilst reducing losses if only one coin is failing.

  2. What is the Easiest Way to Buy Litecoin?

    Most likely the easiest way is to trade on the coins value using a broker platform. CFD platforms are quick, easy and offer many different payment methods. Purchasing the actual coin is complicated, slow and usually requires a lot of research to get done.

  3. Can I Buy Litecoin Anonymously?

    Yes, buying Bitcoin anonymously and then exchange it for LTC on cryptocurrency exchanges will allow you to buy the coin anonymously.

  4. What are Trading Robots?

    With virtual assistants and chatbots, it is no surprise to find these in the cryptocurrency arena. Trading robots are computer software that can predict future trends in market prices using specific indicators. Once they do this, they can either execute a trading decision or prompt you to do so.

  5. Should I Buy Litecoin Using a Robot?

    Yes and No. Here is a quick explanation. The window of profitability in digital asset trading is usually very narrow. As a result, the trader has only a few minutes, or even seconds to jump for the kill. The problem is, crypto trading is a round-the-clock business, and these windows sometimes occur when the trader is either asleep or on a different errand. The other perspective is the skill and time it takes to be a successful trader. As a beginner, you may have neither the time nor the money to invest in learning. Furthermore, trading gurus always keep the best secrets for themselves. The illustrations make trading robots an integral part of trading. It is almost impossible to trade without their assistance. However, you do not need to invest in a robot if you are looking into long term investment. They are suitable for traders who focus on daily price changes.

  6. Are There Other Ways to Buy Litecoin?

    Most of the methods have been mentioned earlier in the guide. The only unmentioned option is to accept payments in Litecoin. All you need is a Litecoin wallet, knowledge of Litecoin prices, and a product worth paying for.

  7. How do I Sell my Litecoin?

    You can sell Litecoin in many ways with the easiest one being at the exchange. You sell them for fiat or cryptocurrency. The other way is to sell them directly to a willing buyer. In this case, personal trust is crucial.

  8. How do I Buy Litecoin in Bulk?

    You can buy through an exchange, but it might take many transactions. Such will attract higher transaction fees. The other way is to find a reputable broker that deals in Litecoin and buy from it. If you have to buy directly from the seller, then ensure you trust them, or the platform has a proper Know Your Customer policy.

  9. Can I buy Litecoin with Credit Card?

    Actually, it depends on the selected platform and your region. If you invest from an exchange, odds are that you won't need a lot of money to start investing in Litecoin, e.g., Coinbase accepts deposit from as little as 5 $/€/£. If you use a broker, the minimum deposit tends to be higher (around 100-500 USD). Besides the methods above, you'll be able to invest in Litecoin with credit card using:

    • AVA Trade: Brokers like AVA Trade allow you to use top of the range platforms such as MT4, and once you have signed up, depositing with a credit card is very simple.
    • Changelly: this popular exchange is probably one of the most simple to use. All you need to create an account if your email address and a password. You need to set up a litecoin wallet somewhere before you can buy litecoins, click here for the best litecoin options. Your bitcoins will be found in the Coinbase account you set up. Follow the guided steps and you'll get LTC very quickly; however, price tends to be much higher when compared to other exchanges
    • Poloniex: this old platform is one of the largest cryptocurrency exchanges, and it was huge in the past. They offer a huge number of different cryptocurrencies and often are one of the first to offer new coins after their ICOs have closed. To buy Litecoin with a credit card at Poloniex, you first need to sign up. There are some pretty stringent verification processes to get an account with Poloniex. You must take a photo of yourself holding up your identification, but is pretty straightforward once everything is set up.

  10. What’s the minimum amount to buy Litecoin?

    Actually, it depends on the selected platform and your region. If you invest from an exchange, odds are that you won't need a lot of money to start investing in Litecoin, e.g., Coinbase accepts deposit from as little as 5 $/€/£. If you use a broker, the minimum deposit tends to be higher (around 100-500 USD).

  11. What Does Litecoin Do That Bitcoin Doesn’t?

    Litecoin has bigger blocks that Bitcoin, allowing it to be faster and cheaper in most circumstances. It also introduced blockchain improvements like Segregated Witness long before Bitcoin did the same. Litecoin isn't nearly as widely used as Bitcoin, and it's controversial whether or not its advantages would last if it was subject to the same stresses that the Bitcoin network is every single day. But for now, it's a leaner blockchain that's of value to people who need to spend digital currency, or who believe that its long term prospects are better than its parent blockchain's.

  12. Why Use Litecoin Over Bitcoin?

    Litecoin is cheaper and faster than Bitcoin. Even though Bitcoin is the king of the hill, Litecoin still has its unique value.

Alternative Coins