Litecoin remains one of the world’s most successful cryptocurrencies, providing lightning fast and affordable payments. Litecoin may serve many of the same purposes as Bitcoin, but it still has its interesting features. At a much lower price than its big brother, Litecoin remains an attractive investment option for crypto traders. If you want to know how to buy Litecoin with Paypal in 2018, we’ve determined that eToro is the easiest method. Now available in 60+ countries, you won’t have trouble with this option.
5 Quick Steps to Buy Litecoin with Paypal
- Take 2 minutes to create an eToro account
- Choose Paypal to make your first deposit
- Deposit at least $200
- Place an order to buy Litecoin
- May the force be with you and your profits!
Method 1 : Buy Litecoin With Paypal on eToro
There are only a couple of formalized ways to directly buy Litecoin with Paypal. We are aware of some other…shadier…alternatives, but these are somewhat difficult and fraught with perils, so we’ll limit ourselves to the best one.
eToro is a well regulated CFD trading broker based in the UK, which is now available in more than 60 countries around the world (recently including, significantly, the United States of America). With CFDs you don’t buy Litecoin in the traditional sense. Instead, you pay the current market price of Litecoin, and this money is locked up in a contract.
When the contract expires, if Litecoin is worth more than it was when you initiated the contract, you’ll get your money back plus the associated profits. Losses are incurred the same way, so this isn’t a get rich quick scheme. You’ll have to do your due diligence when making trading decisions on eToro, but they’re the same as those you would have to make with conventional ownership investment. eToro just cuts out the hazards of ownership.
Here are a few other excellent perks of the eToro platform.
- eToro is the easiest platform to buy Litecoin with Paypal
- Competitive commissions
- Instantaneous trading & verification
- Up to $500 deposits at one time ($5000 per month)
- CySEC & FCA regulated
- Perhaps the easiest user interface in the game
- You won’t need a wallet, addresses, private keys, etc.
- Pristine reputation – 6 million users and growing!
Guide to Buying Litecoin with Paypal on eToro
There’s more Litecoin Paypal review yet to come, but if you want to go ahead and get started with eToro, here’s how to do so.
Step 1: Open Account With eToro
Sign up by providing the simple personal information requested by eToro. Nobody likes giving personal ID online, but eToro needs it because of their regulatory requirements. They have to prevent fraud and money laundering, so knowing a bit about their customers is essential.
Step 2: Deposit funds With Paypal
Choose Paypal as your Payment method and decide how much you want to deposit. $200 is the minimum for first deposit and $500 is the max.
Step 3: Buy Litecoin!
Navigate to the Crypto trading page and choose Litecoin as your currency. The trading interface you see below could not be more simple. Quickly choose how much you wish to buy, then decide if you want to use leverage to get more Litecoin access with less money. Leverage opens you up to the possibility of greater profits and losses, so take care when using it. Early traders should consider not using leverage until they’re comfortable with the platform.
Method 2: Buy Litecoin With Paypal Directly From a Seller
As we’ve already stated, most places that sell Litecoin do not accept Paypal. This eliminates traditional exchanges like Binance, and even P2P options like Localbitcoins. However, the P2P option is still available, though you may have to do a little bit of extra legwork.
Litecoin used to be available on eBay, though the selling of digital currencies on the platform has since been banned. This leaves buying from sellers in the physical world. You can meet Litecoin owners all kinds of places, like online forums and local advertising. You can transact directly by sending them the money via Paypal and getting them to send the Litecoin to your Litecoin address.
While this method is normally considered risky (especially if you’re meeting in person), the reason we list it here is because Paypal makes it easy to get your money back if there’s any funny business in this trade. Always trust your gut and work with honest people, but should someone scam you, just get Paypal to get your money back. They’re usually very helpful in this regard.
Buying Litecoin With Paypal : Is it Safe?
Paypal is a great option for buyers, because you can report fraud and scams to Paypal, and they are very likely to get your money back. However, this conversely makes Paypal a sketchy payment option for Litecoin sellers, because buyers could always claim that they didn’t receive their funds, and Paypal would be likely to take their side. We recommend only using Paypal through trusted platforms like eToro, if you can possibly help it. However, if you find a different exchange, or want to trade with an individual, Paypal may still be a solid option.
Buying Litecoin With Paypal: What Are the Fees?
Paypal is an American company that does not charge for purchases by US buyers of goods from US sellers. Fortunately for these people, eToro has finally expanded into the US, and takes US Dollars, so Paypal deposits will be free. If you’re buying Litecoin elsewhere in the world, you may find a 2.9% fee attached to your order.
Should I Buy Litecoin?
Litecoin is one of the biggest names in crypto. Since its introduction a few years back, Charlie Lee has led Litecoin to the top of the crypto charts. The network was one of the first to adopt Segregated Witness, and Litecoin’s 8 megabyte blocks and fast block times often make it faster and cheaper than Bitcoin. Litecoin is accepted as payment by many vendors, online and in the real world, with more coming aboard every day.
Litecoin’s price crashed along with all other cryptocurrencies in January 2018. Because we believe Litecoin to be one of the few coins that will definitely survive this bear market, we think that if you are to buy now, you will likely see the price of Litecoin increase dramatically if/when the crypto market recovers. There’s always the slight possibility that crypto will never recover, but we believe that this technology is already changing the world, so we’d be shocked if anything but a full market recovery happened.
Final Words on Buying Litecoin With Paypal
Paypal is one of the most well established and widely used payment networks on the planet. Unfortunately, most sites that sell Litecoin do not accept Paypal. The good news is that eToro is perhaps the best way in the world to invest in Litecoin, and they accept Paypal. If you are an investor who doesn’t care about spending Litecoin, but just believes in its price future, the eToro options will be the easiest way for you to get access to Litecoin investment profits, hands down. Paypal is likely the most convenient option available for you to deposit with eToro. It really is a match made in heaven.
Plus500 Review – a CFD Option for Cryptocurrencies
Is Paypal a Scam? As popular and well known as Paypal is, you’d be surprised how many people wonder if Paypal is a scam. Don’t worry, dear reader, Paypal is legit as they come.
Can I Petition My Favorite Vendor to Accept Paypal for Litecoin Purchases? You can sure try. As more crypto exchanges start to add fiat payment onramps (looking at you, Bittrex), they are very likely to start accepting direct payments from bank accounts. As Paypal is already integrated with its users’ bank accounts, it just makes sense for Paypal to be a payment option. Make sure to ask.
Why Don’t More Crypto Exchanges Accept Paypal? The fact is, most crypto exchanges don’t accept fiat payments of any kind. Fiat payments are payments made in the national currency of a country. US Dollars and British Pounds Sterling are examples. It’s not that crypto exchanges hate Paypal. It’s that they’re totally inequipped to accept fiat payments.
Why Doesn’t Coinbase Accept Paypal for Crypto Purchases? We’re not sure why Coinbase doesn’t accept Paypal, but remember Coinbase is very young and fast growing. As Coinbase expands into the future, they may be open to accepting a more diverse array of payment options. As in the above question about vendors, it never hurts to ask.
Will Paypal Really Refund My Money if I’m Scammed? In the experience of this writer, Paypal is very reliable in granting chargebacks. If you get scammed, you should call (not email or chat) Paypal immediately. By getting someone on the phone, you are more likely to get a fast answer and to have that representative take action on your case immediately.