Debit cards provide a convenient and widely accepted method of buying Litecoin without any annual fees or interest payments. Let’s take a look at just how simple the process is and where you can purchase LTC.
You can purchase Litecoin with Debit Card online using a cryptocurrency exchange. This is the easiest way to buy and sell cryptocurrencies—all you need is a computer or mobile device. See below for our top picks of platforms that offer Litecoin and simple steps to buy Litecoin with a Debit Card.
Create an account by filling in some personal information, and provide a photo ID and/or proof of address in order to get your account verified. The safest place to buy Litecoin is a regulated platform, such as our top recommendations below.
Navigate to your platform’s deposit page and select debit card from the list of payment methods available in your country. Then you can specify how much you would like to deposit and transfer the funds to your platform.
Find the trading pair for LTC and your newly deposited currency and enter how much you wish to purchase in a buy order. You can use a market order to buy immediately or a limit order to buy at a specified price in the future.
Features, fees, and coins supported are some of the things you might want to consider when deciding where to buy Litecoin. Your platform should also be regulated and reputable if you care about safety. The best such platforms are shortlisted below.
We’ve compared the features of buying LTC with a debit card to help you decide whether it’s the right choice for you.
Pros
Acceptance. Debit cards are widely accepted, giving you plenty of choice of where to use one to buy Litecoin.
Convenient. You just need to connect your debit card to your account and then you can purchase in seconds.
No annual fees. Unlike with a credit card, there are no annual fees or interest payments for using your debit card.
Good for budgeting. You can only spend money already in your bank account which could help you avoid excessive spending.
Safe. Debit cards are a secure payment method and often have a zero liability policy to protect you from fraud.
Cons
Higher fees. The deposit fees for credit and debit cards may be higher than other deposit methods.
Possible overdraft fees. If you have an overdraft, you could be faced with fees if you overdraw.
Your platform will likely charge a fee for making a deposit with your debit card. You can check the website to find out whether this is the case and how much it will be. Other costs to watch out for include spreads, commission, trading fees, and blockchain transaction fees.
If you want the safety, convenience, and broad acceptance of paying by card, without the interest and fees that come with a credit card, then a debit card could be the ideal way to purchase Litecoin without spending more money than you have in your account.