How to Buy Litecoin (LTC) in 2024

Litecoin (LTC) is one of the earliest cryptocurrencies to be launched into the market. For this reason, its a popular option among investors who want to diversify their portfolio with relatively stable altcoins. In this guide, we take a look at how to buy Litecoin using several different approaches including through an exchange, through a mobile app through a CFD trading platform.

How to Buy Litecoin: Step by Step Guide

Let’s take a quick look at the steps involved with buying Litecoin in 2024. For more information about the best exchanges and top tips for investing safely, continue reading through our guide. 

1. Find an exchange: Shop around to find an exchange or crypto trading platform that offers competitive fees, a user-friendly interface and a good range of trading tools. 
2. Create an account: Use your email address to create an account. You may need to verify your account with proof of ID before you can access the platform. 
3. Fund your account: Connect a payment method to the crypto exchange and deposit the amount of money that you would like to buy Litecoin with. I recommend starting with the minimum deposit available. 
4. Search for Litecoin: Use the exchange’s explore tool to find Litecoin/LTC.
5. Buy Litecoin: Open a ‘BUY’ order and enter the amount of Litecoin that you would like to buy. Then, confirm the order.
6. Send your Litecoin to a wallet: Exchanges are not a safe place to keep your crypto. Instead, send your Litecoin to a self-custody wallet. 

Best Exchanges to Buy Litecoin

The first step of buying Litecoin is to find a reputable exchange that offers the crypto with low fees. Here is a selection of platforms to consider. 

eToro USA LLC and eToro USA Securities Inc.; Investing involves risk, including loss of principal; Not a recommendation. eToro USA LLC does not offer CFDs. Crypto investing carries a high risk and is highly volatile. eToro (Europe) Ltd crypto trading is provided via DLT Finance, crypto custody by Tangany. Tax may apply.

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. When it comes to buying Litecoin, eToro stands out as a reliable platform offering a user-friendly experience, but for those seeking eToro alternatives, there are several other options available in the market.

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

Here is an overview of how to buy Litecoin using eToro. The process is very similar across different exchanges.

What is The Best Wallet to Buy and Store Litecoin?

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:

You can move your Litecoi to a crypto wallet by entering your wallet address. This is a long string of numbers and letters that is completely unique to your wallet.

When sending crypto to a wallet, triple-check the address that you enter. Once you send crypto to a wallet, the transaction cannot be reversed.

How to Trade Litecoin CFDs

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.

CFDs are suitable for short-term trading strategies because they come with lower fees and transactions can be completed quickly.

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.

How to trade Litecoin using a CFD broker

Just like signing up to an exchange, trading Litecoin with a CFD broker involves signing up with your personal details, connecting a payment method to your account and then using your funds to buy and sell LTC.

The main difference between using a CFD trading platform and using an exchange is that trading platforms require you to use technical indicators and set parameters. There are also more complex trading options available on these platforms such as leveraged trading, which can make them a little confusing for beginners.

Best Mobile Apps to Buy Litecoin

Another way to buy Litecoin in 2024 is to use a mobile app. These platforms work similarly to online exchanges accept they often provide a simplified dashboard that is optimized for mobile. Just like an exchange, you will need to sign up with your details and connect a payment method to the app before you can trade Litecoin.

An 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.

How to buy Litecoin on the eToro mobile app

The eToro mobile app is one of the most popular options to buy Litecoin. Here is an overview of how the process works.

How to Buy Litecoin Using a Decentralized Exchange

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.

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.

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.

Doe Litecoin Still Have a Future?

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.

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.

What Cryptocurrencies Are Similar to Litecoin?

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

Final Thoughts

The easiest way to buy Litecoin in 2024 is to use a centralized exchange such as eToro or Coinbase. These platforms provide a good layer of security, easy navigation and excellent customer support. Investing in Litecoin is a good way to diversify your crypto portfolio with an altcoin that is gaining momentum.

Now that you know how to buy Litecoin, take time to conduct research into the crypto before making any decisions.

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