How to Buy Litecoin: Ultimate Guide to Buying LTC

One of eToro’s most unique features is its CopyTrader functionality, which allows how to buy spell token you to start trading cryptocurrencies by “copying” the trades made by professional crypto investors. Simply choose a user who you want to copy, enable CopyTrading and eToro will match your moves to the experts. It aims to demystify the process of buying Litecoin and equip readers with the knowledge needed to navigate the cryptocurrency landscape. You’ll also want to ensure that the crypto exchange you choose offers Litecoin, which won’t be too difficult since it’s a popular digital currency.

Users can convert crypto to fiat currency in only a matter of seconds. One of the unique qualities of Ava Trade is the availability of different trading platforms. It offers MetaTrader 4 and 5 as well as the proprietary AvaTradeAct platform. With the MT4 or MT5 account on AvaTrade, you can buy and sell currency pairs without paying a commission.

Traders and inve­stors showed unwavering optimism towards Litecoin, fue­led by the anticipation surrounding its upcoming block reward halving e­vent scheduled for August. Litecoin’s halving event takes place every four years, and it reduces the supply of the coin by 50%. This is why many investors anticipate that the halving event will positively affect Litecoin’s price, as it will create scarcity for the coin. Meanwhile, you must invest through a cryptocurrency broker supporting fractional investment ownership. At Changelly, you get a flat rate for crypto-to-crypto trades on Changelly, which stands at 0.25 percent. The platform has no specific deposit fees, but you must factor in transaction fees when exchanging.

However, the specifics can differ, so it’s crucial for investors to understand the tax laws in their respective countries. Borrowing from Bitcoin’s hard-cap limit of 21 million coins supply, Litecoin also has a hard-cap limit. The development team behind the project says that only 84 million LTCs will ever be mined, and so far, 79% are in circulation. Digital assets with a hard-capped limit are known to retain their value over time. Before Bitcoin and digital currencies advent, investors bought gold bars, stocks, and exchange-traded funds (ETFs) to preserve their wealth and hedge against inflation. These platforms have been carefully selected and reviewed as the best brokers to buy Litecoin.

Finder.com is an independent comparison platform and information service that aims to provide you with information to help you make better decisions. We may receive payment from our affiliates for featured placement of their products or services. We may also receive payment if you click on certain links posted on our site. If you are buying LTC to hold it for the long term, consider buying it on an exchange and transferring it to a hardware wallet to keep the private keys safely offline. This is a standard security procedure for most exchanges in the US and requires you to upload some photo ID, and in some cases a selfie with today’s date.

1. Still, the silver digital currency is among the top twenty most valuable cryptocurrencies, with a market cap of over $11 billion.
2. If you see colorful charts with a range of prices, you’re probably in the spot market.
3. The asset permits the transfer of value digitally and is not controlled by any central authority.

Buying Litecoin as a CFD Product

You can pair LTC with the euro, the British pound, the Australian dollar, and the Japanese yen, to name a few.

Charlie Lee, a former Google engineer, created Litecoin in 2011 as a “lighter” version of Bitcoin with faster transactions and lower fees. Litecoin uses similar technology to Bitcoin but differs in a few key ways, such as its hashing algorithm and block generation time. Before you invest your money, know the risks of cryptocurrency and keep your investment to a small amount of your net worth. When your purchase is complete, you might own full Litecoins or partial coins. For example, if Litecoin is trading at $100 and you want to invest $50, you’ll own 0.5 LTC.

Step 3 – Add payment details

This helps you to familiarize yourself with the industry, especially if you are the next gen coin how to buy new. Make purchases based on facts, not emotions, or what your friends and coworkers say is the latest crypto in the block. Turn your attention to dedicated crypto channels and expert review websites to understand the mission of a crypto project before even committing your funds to it. However, we have highlighted a few factors for you to consider before choosing your investment strategy. Trading Litecoin may be a good choice if you have the time to spare or are a full-time trader.

Investing in Ethereum through an ETF is an accessible way for those who want exposure to Ethereum without directly purchasing the cryptocurrency. If you’re ready to get started, read on for step-by-step instructions and a list of platforms you can use to buy Litecoin in the US. Today, LTC is trading for $63.82, which is slightly down from yesterday’s trading price of $63.48. My interest in financial markets and computers fueled my curiosity about blockchain technology. I’m interested in DeFi, L1s, L2s, rollups, and cryptoeconomics and how these innovations shape the blockchain industry as a growing global product. If you want to dive deeper into this digital asset’s history, use cases and technicals, you can learn more in our dedicated Litecoin 101 Guide.

It also has a demo account option where no deposit is required to start trading. Libertex supports several deposit channels, such as Skrill, Neteller, credit and debit cards, bank transfers, Multibanco, Sofort, Trustly, etc. Like many other brokers, Libertex also offers a demo account you can use before real trading. This provides a risk-free way of gaining exposure to the trading platform.

Plus500 interface is integrated with WebTrader 4, a user-friendly layout built especially for advanced traders. Plus500 is very secure; it offers a two-step login authentication for security purposes. Miners (as they are called) are given block rewards in the network’s currency for validating transactions.

Keep Your Investments Minimal

The trading platform offers low fees, and is highly user-centric in design. With handy tools like CopyTrade and CopyPortfolio, you can easily make profits without having all the technical know-how of an asset. The cryptocurrency market has been experiencing a so-called “crypto winter” since November 2022. It all started with the bankruptcy of a popular crypto exchange FTX, followed by another crypto exchange – bitcoin price hits $58k 2021 BlockFi.

This feature is ideal in situations where you speculate that the price of the assets may fall to a lower level, thereby allowing you to buy it more cheaply. Click the [Preview] button to proceed to the next step, where you will confirm that the transaction details provided are correct. Here, you will be able to review the price or exchange rate for Litecoin against whichever asset you wish to use to buy it.

You should check the deposit, withdrawal, hidden fees, and how much you must pay to convert your LItecoin to other digital assets. 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. 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.

Don’t worry too much about extra features or coins for now – you can always sign up with another exchange later. This table provides a snapshot of the potential costs of buying Litecoin, but always check the latest fee structure on the platform you choose. If you’re new to crypto, you might not be used to having choices for where to “store” an asset. You can buy Litecoin directly through other payment apps such as Venmo and PayPal or Litecoin-specific wallets, such as Litewallet, a mobile app available through Google Play. The easiest way of making money with Litecoin is to buy low and sell high. You can also choose to mine it if you have the computing resources and electricity requirements.

One of the most popular brokers is the Capital.com which offers top-notch security and low fees when you buy Litecoin. 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. Also, Bitcoin’s much smaller hard-cap limit sees it gain more value with time than Litecoin.