How to Buy and Invest in Litecoin LTC in 4 Steps

ETorois the simplest crypto exchange to get started with. Create an account and supply a copy of your photo ID for verification. Founded in 2013 as a crypto broker, the Netherlands-based BTC Direct also provides a fiat-to-crypto onramp gateway to exchanges and wallets providers. In your portfolio, you’ll find not only your brand new litecoins, but also a handy overview of your other investments. In just a few clicks you’re the proud owner of your first litecoins.

• Firstly, and as we briefly noted earlier, Litecoin transactions are four times faster than Bitcoin.
• With TRASTRA, you can send Euros to anyone in the EU without any fees.
• A cryptocurrency wallet compatible with Litecoin is a must before purchasing Litecoin in the UK or anywhere in the world.
• Additionally, depending on the type of partnership, this can increase real-world usage for the digital coin.
• If not purchasing via an online broker, then you will buy Litecoin and store it in your personal crypto-wallet.
• The payment method accepted by this platform is bank transfers.

Given below is a quick guide on how to buy Litecoin at an ATM. Both Litecoin and Bitcoin can be mined and both undergo halving – where the reward for mining a block is a cut by half. But while Bitcoin halving takes place every time 210,000 blocks have been mined. Currently, the reward for mining a Bitcoin block is 6.25 BTC while that of mining a Litecoin block is 12.5 LTC. Now that you own some LTC, you have to ensure you do not lose them or transfer them to the wrong address if you want to send them to someone else. Confirm the order and you have bought your first litecoin.

Step 2: Trade Bitcoin for Litecoin on Binance

Binance also offers a range of other services, such as staking, crypto loans, and derivatives markets such as futures and options. Litecoin tokens are available on a cryptocurrency exchange, which functions similar to a stock trading platform. how to buy litecoin Once your account is approved, you will need to choose a payment method to deposit funds into your account before you can make any purchases. Trading is to commence on October 13 and will allow users to sell and buy Litecoin.

• The options vary by broker, though, so check what’s accepted before you sign up.
• Some of the most popular exchanges that accept GBP are eToro UK Cryptoasset Investing, Uphold – Digital Asset Platform and Binance Cryptocurrency Exchange.
• Once the address is confirmed, your purchased Litecoins will be sent to your wallet instantly or within a few minutes depending on network congestion.
• As a guideline, you owe taxes for selling your Litecoin for money, or when exchanging it for other digital assets.
• As we briefly mentioned earlier, the vast majority of exchanges supporting Litecoin purchases are unregulated.

The value of investments can fall as well as rise and you may get back less than you invested. This content shouldn’t be interpreted as a recommendation to invest.

How Is Litecoin (LTC) Different From Or Similar To Bitcoins?

This has happened to countless exchanges that operate without a license. Or, you might decide to withdraw the Litecoin to a private wallet. But, if you forget your personal password or your wallet is hacked – there’s not much you can do.