Securities.io is committed to rigorous editorial standards. We may receive compensation when you click on links to products we review. Please view our affiliate disclosure. Trading involves risk which may result in the loss of capital.
Table Of Contents
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, services, or even investing in other crypto projects as they emerge. To learn more visit our Investing in Litecoin guide.
We list the top 5 brokers that offer the ability to buy Litecoin (LTC) with a credit card or debit card.
Binance is one of the largest and most well-known cryptocurrency exchanges in the world. The benefits of purchasing Litecoin (LTC) here is that you benefit from the lower exchange fees than competing exchanges, and the increased liquidity enables you to buy and sell quickly to take advantage of market moving news.
This exchange is best for Australia, Canada, Singapore, UK & international users. They do not sell Litecoin (LTC) to USA investors.
Use Discount Code: EE59L0QP for 10% cashback off all trading fees.
Paybis operate a very well-trusted Bitcoin and cryptocurrency purchase platform where you can buy Litecoin (LTC) and a range of other crypto using nothing more than your credit or debit card. They have been around since 2014 and have helped hundreds of thousands of people to make Bitcoin purchases.
If you simply want to buy Litecoin (LTC) and hold then this is one of the easiest ways to buy Litecoin (LTC) with a credit card or debit card.
USA residents are welcome excluding the states of Hawaii & New York.
From humble beginnings, they have now gone on to become one of the most recognizable names in the space offering an extensive selection of assets to trade including Litecoin (LTC).
The trading costs are competitive with other exchanges and they have continued to evolve now offering both futures and margin trading.
This is the best overall exchange for USA residents.
Coinberry is making it easy to purchase Litecoin (LTC) in Canada with no fuss and buy or sell the asset quickly through their easy to use platform. They have been around since 2017 and have a number of highly-trusted partnerships that set them up with a solid reputation for cryptocurrency. They are also registered with FINTRAC as a Money Services Business, so very trustworthy from that standpoint. No USA customers.
Launched in 2014 BitPanda quickly established a positive name and reputation for being a great place to easily buy and sell Litecoin (LTC) in Europe. Since that time they have built on their stellar reputation to expand rapidly to where they now offer trading in a broad range of cryptocurrencies alongside the ability to purchase precious metals and a host of other services.
In total, they offer close to 50 cryptocurrencies you can choose from. This positions them well within the sector particularly among those brokers that facilitate an instant crypto purchase. Included in this range is BEST, a native token that BitPanda themselves has launched.
This is one of the best exchanges in Europe, residents outside of this region 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 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, or as a digital currency.
How does Litecoin work?
Working on a proof-of-work model, Litecoin utilizes a 2.5minute 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.
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 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 network which implement it. To learn more about how the lightning network works, click HERE.
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 which develop support for one can easily support the other.
Controversy surrounding Litecoin typically revolves around it utilizing 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 its all-time-high. While it was noted that this move was taken to ensure development of the network remained impartial, some were skeptical on 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.
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.