5 Easy Ways to Buy Litecoin Instantly in 2024 Beginner’s Guide
But, unfortunately, in some cases, it’s so easy that you can make a costly mistake if you’re not careful. A potential complexity of trading in crypto is that these assets may change in value at different rates. The amount of Litecoin you can get in exchange for a certain amount of Bitcoin, for instance, may change from day to day. If you decide to invest in Litecoin, you should have a well-thought-out idea of why you think it will grow in value long term. If you want to use it for payment, it’s a good idea to consider where you can spend it and why you view it as superior to traditional currency and other cryptos. Litecoin mining is used in order to update the ledger of Litecoin transactions, Just like Bitcoin Mining.
Also, some credit card issuers may classify Litecoin as a “cash advance,” which could require you to pay a cash advance fee before you complete the transaction. Speaking with your credit card issuer before trying out this option is advisable. Bitstamp is one of the oldest cryptocurrency exchanges out there. Bitstamp allows you to buy Litecoins using a credit/debit card, ACH for US users or SEPA for European customers. Alternatively you can exchange Bitcoins for Litecoins on the exchange. Binance is the most trusted cryptocurrency exchange in the industry and the best place to buy Litecoin.
Litecoin like other cryptocurrencies has both good points and not so good points. You can also use a crypto ATM to buy Litecoin with a credit card. However they come with applications you can download on your mobile and desktop computer.
- This is a good way to regularly add digital currencies to your portfolio, without risking much capital.
- This is because unlike complicated electronic fancy gadgets, hardware wallets are basic devices.
- Below are the most popular hardware wallets available to crypto traders and investors today.
- Experienced traders can also use Coinbase’s professional platform, Coinbase Pro.
- Before you go off to buy Litecoin, you will need a wallet to store it in.
Investors can access CFD trading options on Capital.com, to buy and sell cryptos without holding the underlying asset. Litecoin may be faster and less energy-intensive, but it is still an infant compared to Bitcoin. Bitcoin commands more than 50% of the $2 trillion crypto market. It’s the first digital asset and most recognized of the bunch.
Is it Worth Buying Litecoin in 2023?
While some exchanges like Binance have low commission rates, they mostly don’t accept fiat currency. To provide a fair comparison, our guide will only focus on exchanges, allowing you to buy Litecoin with a debit or credit card. Guarda Wallet is a highly secure crypto wallet that supports Litecoin and other digital assets. It offers a user-friendly interface, excellent customer support, and various features for managing and earning interest in digital assets. While it charges transaction fees for in-app purchases, it allows customisable fees for users. If you’ve decided on buying Litecoin or any cryptocurrency investments you’ll need a crypto wallet to put it in.
This profit is gained by charging clients with commissions and fees. Thus, enabling the platform to offer you access to buy Litecoin. Moreover, if you decide to sign up with an exchange – you always face the risk of the platform being hacked.
So Kraken, CEX and Coinbase all have a trading platform area. We will go through all the different methods you can buy Litecoin first. After that you will find the process of how you can buy Litecoin.We will also go through some payment methods, how you can save money on fees and more. Exodus is a non-custodial wallet that supports Litecoin and other cryptocurrencies. It provides users complete control over their private keys, is compatible with multiple devices, and offers in-built token swaps for seamless cryptocurrency trading. It also features a variety of safety measures and a knowledge base for users.
Why we chose Coinbase
Additionally, Litecoin has reduced the time it takes to generate blocks to only 2 ½ minutes, compared to the 10 minutes it takes on the Bitcoin network. This makes Litecoin a quicker option for sending and receiving transactions. This makes sense given that the cryptocurrency markets go hand in hand with such a potentially volatile environment. The same applies to both experienced crypto investors and beginners alike.
However, we have highlighted a few factors for you to consider before choosing your investment strategy. Long-term holding is highly profitable, which is forex risk management the best strategy for several investors. Some are for speculation on the open market, and others are more attracted to its faster validation process.
Step 3: Open A Litecoin (LTC) Broker Account
With Changelly, you can use a Visa or a Mastercard credit card issued in your local currency. An alternative to PayPal is to use your credit card to purchase Litecoin. This is a huge advantage, as not all crypto brokers support credit card payments.
Given the easy and fee-saving feature, many traders prefer using their debit cards for trading. You must consider a broker’s processing fee to buy Bitcoin with a debit card. Various crypto exchanges have different fee structures depending on their payment method. Some may require paying 4 to 5% on debit card transactions, while others may be substantially cheaper.
This makes CEX.IO an ideal platform for acquiring Litecoin (LTC) and participating in various cryptocurrency activities. Coinbase.com provides a straightforward and user-friendly platform to purchase Litecoin (LTC). Coinbase offers multiple approved payment methods to buy crypto now, including bank accounts, debit cards, and wire transfers, allowing users to choose the best option.
Additionally, Binance has a highly detailed web and mobile trading platform where you can analyze price movements and changes in momentum. Regarding commissions, Binance charges start from 0.1% per transaction, among the industry’s lowest fees. Note the terminology of “trading pairs,” which comes up quite often on crypto exchanges. In the case of LTC/USDT, bitcoins can be converted into Tether, a stablecoin whose value is pegged to the U.S. dollar. Created by Charlie Lee in October 2011, Litecoin was one of the first cryptocurrencies to launch after Bitcoin.