How to buy Litecoin
How to buy Litecoin
Blockchain

How to buy Litecoin

By Marco Cavicchioli - 21 Sep 2018

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How to buy Litecoin (LTC)?

There’s nothing simpler. Litecoin is the seventh cryptocurrency by market capitalization and it is very widespread, so it is easily found on the largest exchanges.

It is one of the first altcoins: it exists since 2011 (Bitcoin since 2009, while Ethereum since 2015).

To buy litecoin you can pay in bitcoin or ethereum, but often also directly with fiat. Many exchanges offer direct LTC/USD or LTC/Euro pairs, thanks to which you can buy litecoin with a credit card.

Coinbase is one of the main exchanges used to buy LTC with a credit card but the purchase involves the payment of additional commissions.

On the Austrian exchange BitPanda it is also possible to buy litecoin with fiat using a credit card.

In addition, on all exchanges that also support fiat currencies, it is always possible to do a bank transfer to send fiat to the exchange and then use it to buy litecoin or other cryptocurrencies.

The purchase after payment by bank transfer does not involve additional fees, so it is more recommended if you want to use fiat.

The exchanges that allow payment with PayPal are harder to find: one of these is Cryptex24, but the solution with bank transfer remains the best. In some cases, you can also buy bitcoin with PayPal, and then you have to trade BTC for LTC.

ATMs are not easily available for the purchase of litecoin with fiat.

In fact, the majority of available crypto-ATMs only support bitcoin and only in very rare cases do they also support litecoin. So for cash purchases, it is necessary to organise a person-to-person trade with the seller.

To buy litecoin with other cryptocurrencies, there’s plenty to choose from: litecoin is available on basically all exchanges and it is also always purchasable with bitcoin.

You can often also buy it by paying in ETHs or stable coins such as USDT or GUSD.

There are also some P2P platforms similar to LocalBitcoins for the direct and disintermediate purchase of litecoin from other users.

These platforms include litecoinlocal.net and local-litecoin.com, but they do not have large volumes, so it is not easy to find good prices.

The advantage, however, is that these platforms do not require the lengthy procedures of KYC and AML as most exchanges do.

Alternatively, you can buy bitcoin on LocalBitcoins, where volumes are significant and prices in line with the market, and then use the BTCs purchased to buy LTCs on exchanges that do not support fiat currencies, such as Binance.

In short, buying bitcoin is like buying litecoin, it’s almost the same procedure.

Another thing to keep in mind is not to keep your purchased LTC on the exchanges but to move them into your wallet.

There are many available wallets, for any platform and on litecoin.com there is a list of the most used ones.

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 11 thousand subscribers.

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