How to Buy Litecoin (LTC) in 2021: A Simple Guide

Litecoin (LTC)In this guide you’ll get information about where to buy Litecoin, if you are planning to buy LTC – You’re in the right place!

Litecoin is created as a payment platform with peer-to-peer operation. What makes it special is the (almost) zero cost and instant payment between users without any restrictions: geographical, education, background, and others. As a global payment platform, Litecoin is created to be open source and completely decentralized. It is a network that is well secured and maintained through mathematics system while empowering individuals to gain control over their finances.

It is considered one of the most ‘pure’ cryptocurrency for utility and simple operation. Those who have used Bitcoin can use this platform as the complementary commerce. Although Bitcoin is powerful and handy, its biggest issue is about scalability. This is the feature benefit that Litecoin has as all transactions can take place in faster mode, in more efficient use, and in safer environment.

Litecoin (LTC) Features

  • Community. One of the biggest strength of crypto platform is its community. With solid and strong community, the platform should be able to flourish and survive.
  • Reliable sources. As a platform that is created to help with global payment and financial management, Litecoin isn’t only restricted to doing financial activities. However, they also provide reliable resources for education and also other projects, which are parts of the development
  • Open source software. All users have the power (and also ability) to modify, copy, and run the software. They are also able to distribute the software’s modified copies. The software would be released within a transparent mode, allowing independent verification.
  • Wallet encryption. The digital wallet should be completely safe, and it should support features that make it secure. Users are able to view account balance and transactions in the safest manner possible. There would be sanity check taking place before payments are sent.
  • Mining rewards. This is a profitable feature because it enables passive investment. Those who want to enjoy long-term investment benefits can make use of this feature for their own needs.
  • Cryptography. This is the algorithm that differentiates Litecoin from Bitcoin. Not only it is stronger to deal with cyber attacks, but it can generate more profits, which are important for mining.

Where to Buy, Sell and Trade Litecoin aka LTC

You can basically use debit card, credit card, or even PayPal to buy the Litecoin (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Litecoin as the exchange.

With cryptocurrency, things are different. You need to use debit card or credit card to buy  Tether first. After you get the ETH or BTC or USDT, you can convert it to Litecoin. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.

In general, the process would be:

  1. You go to the online exchange and buy the Ethereum (ETH), Bitcoin (BTC), or Tether (USDT)
  2. Find a crypto exchange that supports Litecoin currency and exchange your Ethereum / Bitcoin / Tether with the Litecoin
  3. Store your Litecoin to a secured wallet

Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) or Tether (USDT)

There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.

The site will ask for some basic information about yourself, make sure to tell the truth. Otherwise, you could face withholding of your investment. Make sure to type your name, your e-mail, and your password correctly. The stronger your password is, the safest your money will be. You will be asked to check your status as a living being using a re-captcha box and to agree to the terms of use of the platform.

Get $10 Bonus when you sign up for Coinbase!

coinbaseClick here to register (opens in new tab)

  • You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
  • Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
  • You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.

That’s the first step in buying Litecoin, once you get your Bitcoin or Ethereum or Tether, you can continue to the next step.

Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments

After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH or USDT from your Coinbase wallet.

With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.

These are the best exchanges we can recommend for you to exchange BTC or ETH or USDT with Litecoin:

GATE.io
gate.ioGate.io is a crypto exchange service that is part of Gate Technology Inc. Gate.io is registered in Virginia, United States, and founded in 2017. They only handle transactions using cryptocurrencies, so you won’t find Fiat options with them. Since they work with the best ranked digital assets in the industry, they can average up to $48million in transactions.

  • Deposit Methods: Cryptocurrency Only
  • Fiat Currencies: N/A
  • Supported Cryptocurrencies: BCH, EOS, TRX, ONT, ETH, BTC, BTM, AE, OCN, ADA, IHT, XRP, ETC, NAS, LTC, & over 1040+ more
  • Trading Pairs: 1801+
KUCOIN
kucoinKucoin is one of the most solid exchanges in the market right now. They started to operate back in 2017. They take regular payment methods such as wire and bank transfers as well as other cryptocurrencies. They have a presence both in the Google Play Store and the iOSAppStore. Kucoin also offers discount trading fees, as well as significant dividends on half the transactions they do. They have a presence both in the Google Play Store and the iOSAppStore.

  • Deposit Methods: Cryptocurrency, Express Polish Post Office 24/7, Wire transfer, GBP bank transfers
  • Fiat Currencies: USD, EUR, PLN, GBP and 47+ More
  • Supported Cryptocurrencies: BTC, ETH, XRP, BCH, TRX, LTC, DASH, XMR, XLM, OMG & 512+ more
  • Trading Pairs: 1044+

IMPORTANT! Once you are registered to the crypto exchange above, Go back to COINBASE and send your Bitcoin/Ethereum/Tether to your new exchange. Find the LTC/BTC or LTC/ETH or LTC/USDT trading pair and then place the order to buy those pairing cryptocurrencies.

Most likely you’ll find this pair available to you LTC/USDTso you need to convert your BTC or ETH to USDT first in order to buy Litecoin (LTC)

Step 3: Managing Your Crypto Assets in a Secure Wallet

As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.

You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.

There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.

For Securing your Litecoin (LTC) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor

ledger nano x

LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.

  • Secure
  • Mobile Friendly
  • Easy to Manage
  • Supported Coins: 1200+

trezor model t

TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.

  • Invented for your digital independence
  • keeps your keys safe
  • Easily back up your entire wallet
  • Supported Coins: 1093+

Frequently Asked Questions (Faqs)

Can I Buy Litecoin (LTC) with PayPal?

You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the Litecoin. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.

Can I Buy Litecoin (LTC) with Cash?

You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:

  • Make sure you have a BTC / ETH wallet before you buy from seller
  • Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.

Can I Buy Litecoin (LTC) with Skrill?

You can’t buy LTC directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Litecoin. You can buy BTC/ETH with skrill by using these exchanges::

Can I Buy Litecoin (LTC) with Bitcoin?

Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair LTC/BTC and begin the transactions.

Can I Buy Litecoin (LTC) with Ethereum?

Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support LTC/ETH trading pair.

What Is the Best Payment Method to Buy Litecoin (LTC)?

The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Litecoin right away. The fastest way is to use a credit card but you will then be charged higher fees.

How to Protect Litecoin (LTC)?

Once you have purchased the Litecoin, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:

Ledger Wallet

Trezor Wallet

 

 

 

 

 

 

How to Sell Litecoin (LTC)?

Find a crypto exchange which allow pairing LTC with BTC or ETH or USDT – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.

Can I Mine Litecoin (LTC) and Not Buying It?

Yes, you can.

Conclusion

Anyone who is thinking about managing faster, simpler, and safer digital payment system should be looking into Litecoin. Not only it is ‘cheaper’, but it also promises more benefits and profits for the future. Transactions can be verified within minutes with less cost and faster processing speed. However, those who are interested in joining the platform must buy Litecoin (LTC) as their access.

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