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How to Buy Litecoin in 2024 A Beginner’s Guide

The slowest route to buy Litecoin is via wire transfer, usually taking days at a time. For anyone looking for a cryptocurrency with longevity, Litecoin stands head and shoulders above the thousands of other cryptocurrencies available. Following hot on the heels of Bitcoin, Litecoin was one of the first Proof of Work, peer-to-peer digital currencies to capitalise on the whitepaper by Satoshi Nakamoto. For these reasons, and more, it is arguably one of the safest cryptocurrency investment opportunities available today. It is also one of the few crypto platforms where users can dabble in other assets such as stocks.

  • You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.
  • However it can go up or down in price depending on the demand on the network.
  • They need a bridge and that bridge is either a mobile or desktop computer.

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. Most of the popular crypto exchanges have built-in digital wallets where you can store your Litecoin and other crypto purchases. Some folks prefer to store their crypto in a separate digital wallet that’s not linked to the internet to help keep their crypto safe from hackers.

StormGain’s step-by-step guide to buying LTC

Be aware, however, that using high-interest debt such as credit card balances to buy a risky asset like crypto could deepen your losses if your investments decline. When considering whether to buy Litecoin with a debit card, it is essential to thoroughly research the current market conditions and the potential future of Litecoin. Like other cryptocurrencies, Litecoin can be volatile, so timing your entry points and purchases is crucial for both short-term and long-term investors. To reiterate, selling your Litecoin via a crypto exchange, or even an unregulated broker is the least safe and convenient way. This is because third-party exchanges often require you to transfer your LTC coins from your wallet to that of the exchange. Undoubtedly, the fastest and most convenient way of funding your account is with a credit/debit card or an e-wallet.

  • Litecoin, a cryptocurrency adapted from Bitcoin to facilitate digital payments, is one of the most widely available digital assets.
  • PayPal allows users in some countries to purchase Litecoin directly on its platform, as well as transfer them to a third-party wallet if you’re based in the US.
  • Designed to be a faster and cheaper alternative to Bitcoin, Litecoin launched in 2013 at a price of slightly over $4.
  • Thus, enabling the platform to offer you access to buy Litecoin.
  • When your purchase is complete, you might own full Litecoins or partial coins.

While cryptocurrency has slightly recovered since 2023, a recent bearish trend in the broader crypto market led to the price drop below 100$. This was also influenced by the negative supply shock following its halving event. With Litecoin’s current price 5.5 times lower compared to its all-time high, now can be a good time to invest in crypto during the bear market. You can use crypto wallets to keep track of your investment, especially if you are a trader. You also get full insight into the web platform and can enter or exit a position while on the move. Keep a close eye on the price movement of your asset and note what your returns are in a week, month, or year.

Create and fund your account

Many sell Litecoin either for cash or in trade for other digital assets. Litecoin, a cryptocurrency adapted from Bitcoin to facilitate digital payments, is one of the most widely available digital assets. Many top crypto exchanges and platforms allow users to buy Litecoin. In other words, eToro is more targeted towards traders than towards users who are looking to actually own their coins. Our guide will focus on exchanges that allow you to purchase Litecoin with traditional currency.

Best Crypto Wallets

Despite being in development, Cardano currently occupies the third position on the crypto chart. This shows that several investors are keen to buy into the Cardano dream. Compared to Litecoin, the network is on the frontier of a new blockchain ecosystem and may likely continue its upward climb. Even though the meme token does not have a generic value proposition besides being a joke cryptocurrency, Dogecoin is still among the top ten most valuable crypto.

Buy Litecoin With Credit Card

Top crypto platforms such as Capital.com allow investors to create a new account in just 5 minutes, and give your trading access to Litecoin and several other cryptos. 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 – BlockFi. Litecoin has also suffered from the fallouts of the “crypto winter,” though not as much as many other cryptocurrencies. Just like you need a place to store your crucial document and certifications, you need to find a secure place to store your Litecoin funds.

Buy Litecoin Credit Card

There are many Litecoin wallets available today, but in this post I’ll just review the best ones in my opinion. Download your free wallet to join and invest in the future of finance. It has not performed as well as Bitcoin, but it has times when the price pops to the upside. fusion markets: a 2020 review Hardware wallets are a form of cold storage because they do not connect to the internet. They need a bridge and that bridge is either a mobile or desktop computer. The only function they can do is keep your seed phrase (24 word wallet password), send and receive.

CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money. There are different ways of investing in Litecoin, depending on your goals and preferences.