How to Buy Litecoin in 2023

Litecoin is one of the earliest cryptocurrencies launched in 2011. Due to its long history, it has received many upgrades, experienced multiple bull runs, and gathered a loyal community. This guide covers the best platforms for investing in Litecoin (eToro, Coinbase, and Crypto.com), the top Litecoin wallets to use, and the fees you’ll encounter. You’ll also discover alternative ways to earn money from LTC Litecoin in this post.

Best Exchanges to Buy Litecoin

	Partner Name Label	Label	CTA	Disclaimer
	1. eToro	4.8	Visit Websiteetoro.com					This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC) which is highly volatile, unregulated in most EU countries, does not fall under EU protections & is not supervised by the EU regulatory framework. Investments are subject to market risks, including the loss of principal.
	2. Pepperstone	4.5	Visit Websitepepperstone.com					Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.9% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
	3. Eightcap	4.4	Visit Websiteeightcap.com					CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.04% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
	4. Coinbase	4.2	Visit Websitecoinbase.com
	5. Changelly	3.7	Visit WebsiteChangelly.com
	6. Trading 212	4.0	Visit Websitetrading212.com					CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

eToro - The Overall Best Way to Buy LTC

The best platform for buying Litecoin is eToro because of its beginner-friendly services. New investors can try out demo accounts and copy successful portfolios. Take a look at what eToro offers:

How We Compare

In the comparison table, we include crucial information such as trade values, fees, and ease of use so if you are new to cryptocurrencies, you know which platforms are the easiest to navigate and where to go to avoid hefty transfer fees. For your peace of mind while trading, we state whether or not each crypto is regulatory-approved and by which institutions.

We even add our own overall rating of each crypto coin.

There is a lot happening in the cryptocurrency market right now, with a variety of tokens created on different platforms and a mode of operation that is very unlike that of traditional financial institutions. Both novice and experienced investors can use our comparison tables to simplify the process of identifying the right cryptocurrencies for them.

As with any investment, the decision to enter the cryptocurrency market requires thorough research. You can rely on us to provide the most up-to-date and accurate information, as we only use credible and reputable sources for our content. This puts investors in the best position to make smart crypto decisions.

Buy Litecoin Using Cryptocurrency Brokers - The Easiest Way

Buying LTC through cryptocurrency brokers is perhaps the easiest way due to their simplistic user interfaces and customer support. The platforms disclosed in the table below are ideal for beginners as they provide the learning corner that covers the basics of investing.

eToro disclaimer: This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

eToro

The top choice for easy-to-use brokers is eToro because it provides simple buying solutions for Litecoin. They offer users a demo account, educational resources, and the option to copy other successful investors.

Coinbase

Coinbase is a fantastic cryptocurrency exchange that has recently improved its fee structure. The CEX provides several trading pairs to trade LTC and simple steps for withdrawing coins. Also, they have quizzes where you can earn free cryptocurrencies while learning about new projects.

Crypto.com

Crypto.com is a fast-growing exchange offering several valuable services, such as a debit card with cashback rewards, staking, a DEX, and buying opportunities in Litecoin. The exchange is outstanding for depositing, buying, and storing your coins.

Buy Litecoin on eToro: Step-By-Step Guide

Step 1: Open eToro

Go to the official eToro website and press the “Start Investing” button at the center of the screen to trade LTC Now type in your username, email, and password, and accept the terms & conditions. Next, access your dashboard and verify your email.

Step 2: Verify Your Identity

Provide eToro with your personal information like your name, surname, and physical address. Then verify your identity by uploading a picture of your passport, driver’s license, or ID card.

Step 3: Deposit Money

Using one of the payment methods available, deposit funds into eToro. The platform accepts bank transfers from your bank account, debit cards, apple pay, PayPal, and various online banking apps.

Step 4: Buy Litecoin

Head to the cryptocurrency section and select Litecoin. Click “Trade” and input how much money you want to convert to LTC. Finally, press “Open Trade” to acquire the token.

Step 5: Send Litecoin to a Litecoin Wallet Address

To send Litecoin to your Litecoin wallet address go to the cryptocurrency tab and choose LTC. Then click “Transfer to Wallet” and the specified amount to send.

Best Wallet to Buy and Store Litecoin - LTC Wallet Comparison

After purchasing Litecoin, the next step is to store your digital asset holding in a safe location i.e., a wallet. There are two types of wallets - software and hardware. Software wallets are ideal if you make transactions often, while hardware wallets are excellent for long-term holding due to their extra protection. Some of the highly recommended wallets for storing your Litecoin have been illustrated below:

Buy Litecoin Using CFDs - Best for Trading

An alternative method of investing in Litecoin is with a broker issuing CFDs. These are Contract For Differences meaning you own a derivative product instead of the underlying asset. Although CFDs are less popular for crypto, they often have easier buying processes. These are the top three available CFD brokers:

Pepperstone

Pepperstone is the best CFD broker for trading Litecoin, thanks to its intuitive UI/UX. Moreover, the platform offers an in-depth educational section to help you understand everything you need to know about getting started with Pepperstone.

Eightcap

This well-established Australian broker offers excellent educational content to teach you how to trade and invest safely. Most importantly, Eightcap offers an advanced trading interface to fulfill the diverse requirements of traders while trading digital asset like Litecoin. However, although Eightcap has amazing tools for buying LTC, the platform’s fee rates are considerably higher than previously mentioned options.

Best Apps to Buy Litecoin - Most Convenient

App is always a convenient option because it allows you to trade from anywhere and does not restrict you to the desktop on your table. The mobile-friendly exchanges are available on iOS and Android devices and offer the same features as a desktop, like graphs, order types, deposit options, and staking.

Buy Litecoin on eToro App: Step-By-Step Guide

Step 1: Create an Account

Sign up for a new account with eToro and provide your personal details.

Step 2: Verify Your Identity

Next, verify your information so you can begin trading LTC Litecoin.

Step 3: Deposit Money

Then deposit money into your account using one of the multiple payment method.

Step 4: Buy LTC

Open the cryptocurrency section and find LTC Litecoin. Click on the crypto, and a buy page will prompt up. Now input the amount you want to purchase and click “Open Trade” to finish.

Buy Litecoin With Exchanges - The Cheapest Way

If you’d like to buy Litecoin at low rates, the best option is an exchange due to its competitive fees. In addition, the platforms below will reduce fees based on your 30-day trading volume. Also, Binance and KuCoin allow clients to pay fees with their native cryptocurrencies, reducing costs by 25%.

Buy Litecoin on Binance: Step-by-Step Guide

Step 1: Open Binance and Register

Go to the Binance homepage and press the register button at the top. Then provide your email and a password. Next, verify your email address and provide Binance with information about yourself. Then verify your identity by uploading a picture of your government-issued document.

Step 2: Deposit Money

Now, deposit funds into Binance using your preferred payment method.

Step 3: Open the Trading Interface

Next, open the trading interface and search for LTC. Then click the relevant trading pair to the currency you’ve deposited.

Step 4: Complete the Trade

Finally, fill out the box at the center of the screen. Choose the order type and the amount of money you want to exchange, then click the “Buy” button to complete the transaction.

Step 5: Confirm the Transaction Using the Blockchain Explorer

Blockchain technology is extremely transparent, and you can view all historical transactions. Websites like Etherscan, Blockchair, and BscScan are great for seeing the progress of your transfers.

Buy Litecoin Using Decentralized Exchanges (DEX) - The New Way

Buying Litecoin anonymously is convenient with a DEX (Decentralized Exchange) since these peer-to-peer platforms do not require ID verification or fulfillment of KYC/AML requirements. These peer-to-peer platforms connect traders globally and facilitate trade orders without being owned by a single entity. This also means DEXs are not regulated by any government authority.

However, while using a decentralized exchange to buy Litecoin or another crypto, you cannot deposit fiat currency. You can use a DEX like PancakeSwap using a decentralized crypto wallet like MetaMask that does not store fiat currency. Also, the trading fees vary based on factors like- the blockchain network on which the DEX has been built and the number of transaction requests in the queue.

Can You Buy Litecoin Using P2P Services?

You can't buy Litecoin on P2P websites. However, you can search for local online forum groups or pages and facilitate exchanges by yourself.

Can You Buy Litecoin Using Other Trading Platforms?

Litecoin is one of the earliest cryptocurrencies in the web 3.0 landscape, hence, it’s listed on most cryptocurrency platforms that offer coin trading. Below you can explore which exchanges you can buy Litecoin and the fees you’ll pay.

What Is the Difference Between Buying Litecoin and CFDs?

Purchasing Litecoin CFDs means acquiring a derivative product and not the underlying asset. Therefore, you cannot spend or stake your coins and must leave your funds within the broker. On the other hand, exchanges will let you buy Litecoin online which you can withdraw to a wallet and pay for various services or products.

Best Ways to Buy Litecoin

Here you can analyze the best providers for each payment method when you buy Litecoin.

Buy Litecoin instantly with online banking - the fastest way

The quickest way to purchase Litecoin via online banking (bank transfers from your bank account) is by using it as a payment method with eToro. This service has fast sign-up processes and simple interfaces for buying LTC, making it ideal for beginners.

Buy Litecoin with PayPal - the safest way

PayPal has integrated a crypto section within their platform where you can buy Litecoin. The PayPal app allows users in some jurisdictions to make crypto purchases with their balance. This is convenient as you don’t need to use a broker or exchange and can manage your funds on one platform. On the other hand, you can use PayPal as a payment method with eToro and Coinbase to buy Litecoin.

• How to buy Litecoin with PayPal

Buy Litecoin using a credit and debit card

Why buy Litecoin using a credit or debit card?

If you want the lowest fees when buying Litecoin, use debit cards as a payment method on Coinbase because they do not apply a deposit fee. Afterward, you can use the trading platform using debit cards to buy Litecoin.

Binance is the best option for buying Litecoin with a credit or debit card because of its premium trading software. The global exchange offers popular LTC trading pairs, high liquidity, and staking opportunities after investing.

• How to buy Litecoin with credit card

• How to buy Litecoin with debit card

And also many wallets provide you with an easy way to buy litecoin and other cryptocurrencies using credit or debit card.

Best platforms to buy Litecoin in other countries

The table below showcases the best platforms for buying Litecoin in different regions. Due to laws, licenses, and regulations, the top providers may change depending on the country.

What Are the Fees When Buying Litecoin?

Here you can examine the fees you’ll pay if you bought $1,000 worth of Litecoin and held it for 30-days.

Cheapest Way to Buy LTC

Trading fees are the main costs when investing in Litecoin. Therefore, you’ll want to use a cryptocurrency exchange with favorable rates. After researching the marketplace, these three platforms have the best fee structures:

Fastest Way to Buy LTC

Coinbase and crypto.com offer instant buy sections on their platforms where you can quickly buy Litecoin by inputting your bank account card details. However, this option may encounter higher fees depending on your card type. Alternatively, eToro has user-friendly interfaces, making it convenient for beginners to get started with their platform.

eToro disclaimer: This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

How to Buy Litecoin Anonymously?

This segment covers some of the leading platforms for buying Litecoin without sharing your personal details.

How to buy Litecoin without registration or KYC?

Decentralized exchanges are the top option if you want to avoid creating an account or completing the KYC process. DEXs like Thorswap require connecting a crypto wallet and loading it with the tokens before you can start to buy Litecoin and trading.

How to buy Litecoin without verification?

You can buy LTC without ID verification with KuCoin however, your account will have deposit type restrictions and other account limitations.

Can you buy Litecoin offline?

You can only buy Litecoin online because you need an internet connection to enter dApps, exchanges, and brokers.

Should You Buy Litecoin or Sell It?

Litecoin has performed well during each bull run, always reaching a new all-time high. The coin is fundamentally sound, with a dedicated team constantly working on improving the deployed blockchain network. LTC has utility, lowest fees, and privacy, which make this cryptocurrency considerably an ideal investment. The table underneath contains a few pros & cons if you’re undecided about LTC.

Do You Need to Pay Tax on Litecoin in the US?

US residents must pay short or long-term capital gain tax on profits. The amount you’ll pay varies depending on your tax bracket and how long you held the cryptocurrency. For more information, you should check out your state’s official websites to receive the most accurate details.

Things to Consider when Buying Litecoin

Faster than Bitcoin

A virtual currency that uses the same principles as Bitcoin is Litecoin. Although it uses the same blockchain technology, transactions are processed four times faster, which could be more attractive for retailers.

Widely available

Given its ten-year existence, Litecoin is one of the more seasoned cryptocurrencies. So, the majority of the big crypto exchanges sell it.

Litecoin Price Prediction: What Is the Future of LTC?

Although Litecoin has fallen tremendously from its ATH, it has performed well during every bull run, gaining significant value. Nevertheless, the future of LTC is challenging to predict, but there are a few indicators that can help uncover its potential value.

What impacts Litecoin price?

The main factors impacting Litecoin’s value are:

Competition: Similar payment cryptocurrencies take away market share from LTC, reducing its value.

Advertising: Marketing is perhaps the main reason a project gains huge growth and price surges. More investors learning about the project is great and helps increase adoption. Unfortunately, Litecoin can definitely do more with its online marketing presence.

Market Performance: The current crypto market status heavily impacts how prices swing. If it’s a bear market, prices will fall and bottom out. However, with bull markets, prices can skyrocket, and coins like Litecoin spike in value.

Laws and Regulations: Regulations and laws affect how easy or difficult it is to invest in cryptocurrencies. In most countries, acquiring Litecoin is accessible, and you are unlikely to encounter any issues. Nevertheless, before using a cryptocurrency platform, make sure it’s legal, so you comply with your country’s laws.

Adoption: Businesses accepting Litecoin as a payment method are great for its adoption. As more entities utilize and incorporate LTC, it will gradually increase in value.

Other Ways to Make Money With Litecoin in 2023

Here you’ll explore alternative ways you can earn money with LTC.

Stake Litecoin using DeFi or CeFi

Since Litecoin uses a Proof-of-work (POW) consensus mechanism, it cannot be staked. However, you can allocate your tokens to Binance’s flexible saving product for Litecoin and earn an estimated 0.32% APR.

Buy Litecoin using ETPs (ETFs & ETNs)

CoinShares is the reportedly best provider for investing in ETPs via Litecoin. ETPs are Exchange-Traded Products that can be found on the stock market.

Buy and sell NFTs using LTC

Non-fungible Tokens (NFTs) come in different forms like tickets, digital art, and online land. This technology lets you generate a completely unique token that cannot be copied by another individual. Unfortunately, there are no great NFT Litecoin platforms available.

Buy stocks and shares in companies owning Litecoin

Newegg holds and accepts Litecoin payments. You can purchase their stock via digital brokers like eToro.

Litecoin mining

You can mine Litecoin to help facilitate transfers and earn rewards based on your computational power. However, if you have a low budget, avoid mining, as you need a decent initial investment to get started. In most cases, staking is more profitable as you don’t need to rent space or buy mining gear.

Use Litecoin faucets

Faucets are tasks, courses, or quizzes you must complete to earn cryptocurrency rewards. The most beginner-friendly brand for this activity is Coinbase, as they offer various faucets. Also, you can add quizzes to your watch list and receive an email once you can earn some more crypto.

What Cryptocurrencies Are Similar to Litecoin?

These are similar coins to Litecoin that you may be interested in learning about and potentially buying.

Best Alternatives to Litecoin

Bitcoin

Litecoin is a type of peer-to-peer internet currency that allows quick payments to anyone in the world. Litecoin is a well-known cryptocurrency and differs from its parent currency Bitcoin in that it can be successfully mined using technology suitable for consumers. With Bitcoin, transactions are not overseen by a centralized entity. Instead, the nodes of the network perform these tasks together.

Monero

One type of cryptocurrency that is secure, private, and untraceable is Monero. It is available to everyone for free and is open-sourced. With Monero, you are your own bank. Your accounts and transactions are protected from prying eyes, and only you have control over and responsibility for your money.

Ethereum

Ethereum is a decentralized platform that supports smart contracts, which are programs that execute exactly as intended, without the possibility of interruption, censorship, fraud, or outside interference.

Is It Still Worth Investing in Litecoin or Not?

Litecoin is a worthwhile investment because of its dedicated team that strives to improve it. Recently, the coin added MWEB (Mimblewimble Extension Blocks), improving privacy. Upgrades like this make LTC bullish as it stands out from the crowd and provides real-world utility.

Litecoin can be considered a good investment based on the historical performance of the coin and its potential utilization in the future. Note: Not a Financial Advice (NFA).

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