How To Buy Litecoin LTC Beginners Guide 2023

how to buy litecoin

To give you a better idea – Litecoin might be $80.42 when you hit confirm on your market order. We have mentioned a few times now that the price of Litecoin shifts almost constantly, second by second. This is an important thing to be mindful of, especially if your goal is to make gains from these short-term price shifts. With that said, if your chosen broker also supports short-selling and you think Litecoin will drop in value, create a sell order. You will use buy orders a lot when purchasing Litecoin, as it’s crucial in entering the relevant market.

Investments are subject to market risk, including the loss of principal. Like bitcoin, litecoin was created to provide a decentralised peer-to-peer transaction system. It uses blockchain technology to allow individuals to make payments or transactions anywhere in the world.

eToro – The Overall Best Way to Buy LTC

You can use a DEX like PancakeSwap using a decentralized crypto wallet like MetaMask that does not store fiat. 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 how to buy litecoin can exchange Bitcoins for Litecoins on the exchange. The quickest way to purchase Litecoin via online banking (bank transfers from your bank account) is by using it as a payment method with eToro. This service has fast sign-up processes and simple interfaces for buying LTC, making it ideal for beginners.

Most of the popular crypto exchanges have built-in digital wallets where you can store your Litecoin and other crypto purchases. Some folks prefer to store their crypto in a separate digital wallet that’s not linked to the internet to help keep their crypto safe from hackers. Even if you manage to buy LTC with cash from your friend, you still need a wallet to store Litecoin and other crypto assets. Coinbase and offer instant buy sections on their platforms where you can quickly buy Litecoin by inputting your bank account card details. However, this option may encounter higher fees depending on your card type. Alternatively, eToro has user-friendly interfaces, making it convenient for beginners to get started with their platform.

Things to consider before buying Litecoin

EToro stores your cryptocurrencies under strict regulation, so you can buy Litecoin knowing you are protected by the FCA, ASIC, and such. As a result, you no longer need to worry about making multiple transfers, remembering your private key, or being the victim of a scam. Unlike the traditional fiat money we all pay our bills with, Litecoin and other cryptocurrencies are kept on a decentralized ledger. As soon as you have deposited funds into your account, you can start to buy Litecoin. Well, first you need to place an order so that your broker knows where you stand. For this reason, it’s wise to check that the minimum deposit is within your budget.

Its equity potential (the possibility to increase in value) makes it worthy of consideration for modern portfolios. You can buy immediately at market price or set a price you’d like to buy at. You’ll receive an email verification link when you create an account. Complete your profile by submitting details like your date of birth and a passport photo, after which you submit KYC documents. These documents include proof of ID (National ID or driver’s licence) and proof of residence (utility bill). OKX provides everything the advanced Litecoin trader needs, such as customisable charts, technical indicators, powerful APIs, and a variety of order types.

Buy Litecoin Using Decentralized Exchanges (DEX) – The New Way

Even though the meme token does not have a generic value proposition besides being a joke cryptocurrency, Dogecoin is still among the top ten most valuable crypto. The key difference between both has been the vibrant community that supports the parody coin. Besides that, Litecoin has a solid value proposition over Dogecoin. Make purchases based on facts, not emotions, or what your friends and coworkers say is the latest crypto in the block.

how to buy litecoin

All digital currencies use blockchain technology, and the underlying framework of this solution rides on transparency, meaning all transactions are open to public scrutiny. So your Litecoin transactions will be shared and traceable by everyone worldwide. So if you are uncomfortable with this, you should reconsider buying Litecoin. Unlike the traditional stock market, which has closing and opening periods, the crypto market does not operate this way. This means you can trade Litecoin anytime you want due to the high liquidity the digital currency boasts of.

You should also select the default currency supported on the card. Now, you can enter the payment details and the amount of Litecoin you would like to purchase. No matter the platform you use, you can enter either the no. of Litecoins or the amount you would like to invest in Litecoin. Verify all the details and confirm the transaction to buy Litecoin.

how to buy litecoin

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