Litecoin Investor
How to Buy Litecoin | Buy LTC in 4 Steps (October 2024)
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Litecoin was one of the earliest cryptocurrencies to enter the market. Consequently, it remains one of the largest coins in the sector based on market capitalization. Also, it’s one of the most widely accepted cryptocurrencies in the world. You can use Litecoin for purchasing goods and services, or even investing in other crypto projects as they emerge.
To learn more, visit our Investing in Litecoin guide.
How to Buy Litecoin (LTC) in 4 Steps
The whole process can take as little as 10 minutes, and all you'll need is a smartphone or computer, photo identification, and a means of payment.
- Compare Crypto Exchanges – We list the top cryptocurrency exchanges that offer the ability to buy Litecoin (LTC) cryptocurrency.
- Create an account – Verify your email address and identity.
- Make a deposit – Debit Card, Credit Card, Wire Transfer, or Bitcoin.
- Buy Litecoin – Use your funds to Buy LTC.
We list the top 6 exchanges that offer the ability to buy Litecoin (LTC) cryptocurrency with a credit card or debit card.
1. Uphold
A top exchange in the United States & UK, Uphold is an experienced and extremely innovative trading platform that should be able to meet your needs for trading across a number of cryptocurrencies, including Litecoin (LTC). Beyond the ease of use and innovative features within the trading platform, what stands out about Uphold is the credibility it has gained in the industry.
Uphold offers an extremely intuitive trading experience on both desktop and mobile apps. The trading view is completely customizable with the assets that you trade the most and is very easy to navigate while providing a modern feel on both desktop and mobile. It is a very popular and suitable choice, particularly for new traders.
Besides being visibly appealing, the Uphold trading platform allows you to place your trades with great ease. With just a couple of clicks, you can make trades directly from your deposit method without even having to wait for funds to clear your account. This one-step ordering is another innovation from a company that prides itself on the usability of its platform. Uphold also provides the ability to execute limit orders.
Germany & Netherlands residents are prohibited.
Uphold Disclaimer: Terms Apply. Cryptoassets are highly volatile. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.
2. Coinbase
Coinbase (COIN +4.79%), established in 2012, is a leading platform for buying, selling, and managing over 250 cryptocurrencies. As a Nasdaq-listed company, Coinbase offers users transparency and trust. The platform supports advanced trading tools, zero trading fees for Coinbase One members, and rewards programs that allow users to earn up to $400. With $226 billion traded quarterly, Coinbase is a major player in the global crypto market.
Coinbase operates in over 100 countries, including Australia, Canada, France, Germany, Netherlands, Singapore, United Kingdom, and United States (excluding Hawaii). With top-tier security, cold storage, and educational tools, it’s a trusted platform for both beginners and advanced traders. Accessible, secure, and user-friendly, Coinbase is a global leader in crypto management.
3. Kraken
Founded in 2011, Kraken is one of the most trusted names in the cryptocurrency industry. It has over 9,000,000 users and over $207 billion in quarterly trading volume.
From humble beginnings, Kraken now offers over 200 digital assets, including Litecoin (LTC). For more sophisticated investors, Kraken also offers futures and margin trading.
Kraken has continued to evolve its platform and commitment to the industry by being one of the first exchanges to offer buying opportunities on new tokens.
Kraken provides trading access in over 190 countries, including Australia, Canada, Europe, and the United States (excluding New York and Washington state).
4. Binance
Binance is one of the world's largest and most well-known cryptocurrency exchanges. The benefits of purchasing Litecoin (LTC) here are lower fees than competing exchanges and increased liquidity, enabling you to buy and sell quickly to take advantage of market-moving news.
Use Discount Code: EE59L0QP for 10% cashback on all trading fees.
This exchange is best for investors residing in Australia, Singapore, the UK, and internationally. Canadian and USA residents are prohibited.
5. KuCoin
KuCoin is a well-known name in the industry and one of the most competitive when it comes to fees and trading costs. The exchange has grown exponentially from its early days of offering only crypto-to-crypto trading. It now offers a varied range of services, including a P2P exchange capability and purchasing with credit or debit cards.
KuCoin currently offers Litecoin (LTC) cryptocurrency trading and over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens.
USA Residents are Prohibited.
6. Gate.io
Established in 2013, Gate.io has grown into a reputable trading platform. While it is not the most popular exchange, it provides users with an easy-to-use interface for beginners while maintaining robust and advanced charts for various skill levels – including technical traders. The exchange boasts many altcoins, including Litecoin (LTC), and is often the first exchange to add new tokens. Notably, Gate.io maintains a strong stance against any type of market manipulation.
This exchange currently accepts Australian & UK residents.
USA & Canada residents are prohibited.
What is Litecoin?
Litecoin is an open-source cryptocurrency, which facilitates peer-to-peer transactions. It was launched in 2011 and has since been viewed as a ‘silver to Bitcoins gold’ – meaning that it was not necessarily created to compete with Bitcoin, but rather, complement it.
What does it do?
Through the use of blockchain technology, Litecoin offers its users a means of quickly and cheaply, transferring value. As the network continues to develop, and adoption grows, Litecoin has the potential to be used as both a store of value and as a digital currency.
How does Litecoin work?
Working on a proof-of-work model, Litecoin utilizes a 2.5-minute block cycle. Each completed block currently results in the generation of 12.5 LTC, with this reward cut in half every four years. In total, only 84 million LTC will ever be produced.
Projected Developments?
Several major developments have been underway for years now, on the Litecoin network. Two examples of this include support for:
Atomic Swaps – This technology allows for seamless swapping of assets from differing blockchains. Achieved through the use of ‘hash-time locked contracts’, the process eliminates the need for middlemen.
Lightning Network – This is a second-layer solution that has the potential to vastly improve transaction speed, costs, and privacy on the networks that implement it. To learn more about how the lightning network works, click HERE.
Underlying Ideology?
The driving force behind the creation of Litecoin was to create a cheaper, and quicker, version of Bitcoin. With Litecoin being based on the Bitcoin source code, it would stand to reason that each is built on the same beliefs – create a decentralized currency, accessible globally, which will make financial inclusion a reality.
Acceptance and Controversies?
Litecoin has managed to establish some of the highest levels of adoption among cryptocurrencies. This is due to more than just its capabilities. Due to a code base derived largely from that of Bitcoin, companies that develop support for one can easily support the other.
The controversy surrounding Litecoin typically revolves around its utilization of a proof-of-work model. This is an energy-intensive process, often perceived as inefficient.
Aside from the currency itself, the largest controversy to plague Litecoin would be due to its founder, Charlie Lee. Notably, during the massive bull market of 2017, Charlie Lee sold his Litecoin holdings at an all-time high. While it was noted that this move was taken to ensure the development of the network remained impartial, some were skeptical about the timing. Some also believed that the move was, essentially, a sign that even its founder didn’t see a bright future for the project – Charlie Lee has vehemently denied this, however.
Regulation?
Although not explicitly stated by regulators, Litecoin is widely viewed as a digital currency. With no token sale and no central body profiting from the success of the network, it is typically not believed to be a security – regulators, however, can be finicky, and this may not always remain the case.
Who Created Litecoin?
The creation of Litecoin is widely accredited to Charlie Lee. From its launch in 2011, Litecoin was structured by Lee as both a competing and complimentary digital currency to Bitcoin.
