Buy Litecoin With PayPal
Many people are interested in learning how to buy Litecoin. This detailed guide on buying Litecoin with PayPal introduces you to the top providers for various exchanges, brokers, and apps. We have carefully selected the providers based on noteworthy parameters like customer reputation, user interfaces, fees, extra features, and much more.
However, to save time, the best platforms for buying Litecoin with PayPal are eToro and Coinbase. Choosing one of these platforms gives you access to an array of features and the best value for trading Litecoin.
Buy Litecoin on eToro With PayPal: Step-By-Step Guide
Step 1: Open eToro
Step 2: Verify your identity
Step 3: Deposit
Step 4: Buy Litecoin
Top Litecoin Brokers That Accept PayPal
eToro - the overall best platform to buy Litecoin with PayPal
The innovative social investing platform eToro, provides many financial instruments, including cryptocurrencies like Litecoin. Also, the comprehensive educational resources like videos and articles allow beginners to learn about the world of cryptocurrencies. To discover more about the Litecoin trading platform, we invite you to read our eToro review.
Best Ways to Buy Litecoin With PayPal
Various methods are available for buying Litecoin with PayPal, and each has its pros and cons. Here are the top ones for your consideration:
Litecoin Derivatives Such as CFDs
Litecoin P2P Services
Buy Litecoin Directly on PayPal
Best Brokers to Buy Litecoin with PayPal
Brokers are a popular method for buying Litecoin, great for beginners who want to avoid dealing with the complexities involved in using DEXs. Brokers handle Litecoin trading between buyers and sellers, and a fee is charged for the service.
|Provider||PayPal Fee (USD 1000)|
The brokers listed above won the top two spots in our list because these platforms have licenses from reputable regulatory bodies and offer users innovative features while maintaining an excellent relationship with the customers. Also, these brokers provide a wide range of instruments so that you can trade much more than Litecoin.
eToro - it’s the top social trading platform
eToro's CopyTrader feature makes the platform stand out from competitors. This feature enables users to copy the trades of other successful traders, which allows beginners to access potentially winning strategies with limited experience.
Additionally, eToro is a trusted platform because it's regulated by organizations such as FinCEN, FINRA, CySEC, ASIC, and the FCA. This means the Litecoin trading platform can be trusted with your hard-earned money. The competitive fee structure at eToro ensures you can enjoy more of any profits you make from trading Litecoin.
Furthermore, coins on eToro come with advanced charts where you can see the trends, and a custom watchlist can be created to stay informed about the real-time updates of Litecoin. However, some of eToro's drawbacks include additional fees like a withdrawal fee and an inactivity fee.
Best CFD Brokers to Buy Litecoin with PayPal
CFD brokers offer trades that allow you to profit from coin price movements. It works by setting up a contract with a defined period, and at the end of the contract, the difference must be settled between the coin's price at the start and end.
However, In the United States, CFD trading is considered to be an illegal activity. This can be attributed to CFD's status as an over-the-counter (OTC) product. As a result, CFD trading systems are not available in the United States. In addition, the opening of a CFD account on local and international platforms is prohibited by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Best Litecoin Exchanges to Buy Litecoin with PayPal
Litecoin exchanges allow users to buy Litecoin using fiat currencies, so they are practical and accessible. Exchanges act as intermediaries to facilitate the buying and selling process for cryptocurrencies like Litecoin.
|Exchange||PayPal Fee (USD 1000)|
The Litecoin exchanges chosen above have a wide user base, industry-leading features, and robust security protocols. In addition, the straightforward UI/UX mechanics is one of the top reasons to proceed with a centralized exchange instead of using a DEX.
Additionally, the trading fee structure formulated by the exchanges listed above is relatively cheap, so you're getting a great deal compared to many other Litecoin trading alternatives. Finally, the customer support teams on these platforms are quick to respond when you face obstacles.
How to buy Litecoin with PayPal on an exchange
Litecoin is among a handful of popular cryptocurrencies, so you'll find it on most exchanges, including Binance, Coinbase, and Crypto.com. You'll need to register an account with the exchange where you want to buy Litecoin and finish the KYC verification process.
Be aware that some exchanges do not offer PayPal as a deposit method, so you'll need to use an alternative payment processor or an exchange that accepts PayPal. After opening the account on an exchange, head over to the deposit page and choose PayPal as the funding method. You may encounter restrictions such as deposit limits and limited fiat currencies.
How to find Litecoin on an exchange: navigate to the trade section of the UI to find Litecoin. Since it's a popular currency, you may find it towards the top of the list or use a search bar.
Altcoins and Litecoin
You may want to purchase altcoins directly with Litecoin, which you can do by acquiring Litecoin by following the steps outlined above. Then, once you have Litecoin on the exchange, search for the Altcoin you want to trade for. Finally, click on the buy button and specify the amount of Altcoin you want.
Additionally, you can buy Litecoin using Altcoins, which means you don't need to use PayPal and fiat currencies. Search for Litecoin on the trading platform and choose the Altcoin you'd like to trade. However, the available cryptocurrencies you can trade for Litecoin vary between exchanges.
Coinbase - best choice for large selection of cryptocurrencies
Coinbase allows you to trade over 200 cryptocurrencies, including Litecoin. This opens up a lot of trading options, so you further diversify your portfolio as a long-term crypto holder. Also, finding these cryptocurrencies is simple with the intuitive UI and clutter-free design.
Coinbase trading fees range between 0% to 0.60% and vary based on trading volume.
Furthermore, new users are incentivized with offers such as "Spin the Wheel." In this scheme, the new users on the platform spin the virtual wheel and receive a reward ranging between $3 to $200 in either USD or Bitcoin.
You can also explore additional features like the Coinbase NFT, a peer-to-peer platform that allows creators and collectors to merge under a single roof and discover, display, purchase, or create exciting digital assets.
The drawbacks of Coinbase include a complex fee structure, and some transaction types can incur high fees. Therefore, you might save money by selecting one of the alternative Litecoin trading exchanges in the table above.
Can I use decentralized exchanges with PayPal?
The floodgates for trading cryptocurrencies in a peer-to-peer ecosystem were opened in 2014 when the first DEX was released. This means that the users can trade cryptocurrencies directly without the involvement of any intermediary. To trade on a DEX, you need to connect a DeFi wallet like MetaMask, so there is no need to register an account. Therefore, you can enjoy anonymity when trading on a DEX.
Hence, you might have understood that it's not possible to buy cryptocurrencies like Litecoin using PayPal on a DEX. Instead, you'll need to buy tokens using PayPal on a CEX and then transfer those tokens to a DeFi wallet that can connect to your preferred DEX.
Best Litecoin P2P Platforms to Buy Litecoin with PayPal
Litecoin P2P platforms allow users to trade coins directly. These platforms work by allowing sellers to create posts that specify the coin's price, accepted payment method, and amount of time allowed to complete the payment.
However, we need help finding genuine Litecoin P2P platforms operating in the United States and accepting PayPal as the deposit method.
Crypto.com - Top provider for large choice of cryptocurrencies
Crypto.com is one of the most popular cryptocurrency exchanges in the world, offering more than 230 coins and 390+ trading pairs. In addition to an extensive list of cryptocurrencies available on this exchange, Crypto.com is also known for offering a low trading fee ranging from 0% to 0.0750%, which varies based on the 30-day spot trading volume.
The mobile app version of Crypto.com has also garnered a competitive rating on the App Store (4.3 out of 5) and Google Play Store (4.5 stars). The users feel confident managing their digital finances using Crypto.com mobile app and are simply in love with its flawless design principles.
The only drawback we found about this exchange was a slow response from the customer support team, prompting some users to plan on a self-service instead.
Best Apps to Buy Litecoin With PayPal
You can buy Litecoin with PayPal from the comfort of your smartphone. Overall, the apps listed in the table below provide the same functionality and pricing as the desktop versions, so you're getting all the benefits of going mobile.
|Provider||OS||PayPal Fee (USD 1000)|
|🥇 eToro App||Android / iOS||$0|
|🥈 Crypto.com App||Android / iOS||$0|
|🥉 Coinbase App||Android / iOS||$0|
The listed Litecoin trading apps above were selected because they have some of the highest scores on the Google Play and App Store platforms. Additionally, new users can test the experience out for themselves because of the fast onboarding process and low account minimums.
eToro App - top choice for user-friendliness
The eToro mobile app has a score of 4.1 out of 5 on Google Play and 4.7 out of 5 on the App Store. The high user scores indicate that the eToro app offers users a great trading and investment experience and competitive features.
You can enjoy revolutionary features like CopyTrader, which enables users to mimic the trades of other successful traders. Also, you'll have access to extensive educational material to learn about the world of cryptocurrencies, perfect for beginners having a gap in their knowledge.
Additionally, eToro offers a wealth of payment options, including PayPal. Therefore, you have flexibility about how you want to interact with the mobile app. However, some users report that the app can sometimes crash, and the verification process can be frustrating.
Buy Litecoin Directly on the PayPal App
Residents and citizens of the United States can buy four different cryptocurrencies directly from the PayPal app, including Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. This negates the need for exchanges or brokers, so there is no need to register another account to buy Litecoin.
Start the Litecoin buying process by heading over to the crypto section of the UI and choosing a funding method. The available ones include credit/debit cards, bank transfers, and PayPal balances. Once you have bought Litecoin, it can be sent to a crypto wallet or other PayPal users.
How to buy Litecoin on PayPal
Now let's turn our attention to the process of buying Litecoin on PayPal.
Step 1: Log into your PayPal account and select crypto in the top right-hand corner.
Step 2: Choose Litecoin from the list of available cryptocurrencies on PayPal.
Step 3: Select the amount you want to buy
Step 4: Choose the payment method, which could be the PayPal balance, debit/credit card, or bank transfer.
Step 5: Review the transaction details and click on the Buy Now button.
Buying Litecoin on PayPal Fees
The table below shows you'll find the fees for buying Litecoin directly. You can compare these fees with buying on an exchange to decide the best option for your needs.
|Purchase or Sale Amount||PayPal Fee|
|$1.00 – 4.99||$0.49|
|$5.00 – 24.99||$0.99|
|$25.00 – 74.99||$1.99|
|$75.00 – 200.00||$2.49|
|$200.01 – 1000.00||1.80%|
Should You Buy Litecoin With PayPal
Buying Litecoin directly from the PayPal app is a good choice if you want a fast method of completing the transaction without registering an account with third-party providers. Also, the minimum purchase requirement of $1 means you can test the application before depositing more funds.
PayPal is a trusted payment processor that has been operating in the fintech industry for over a decade, making it a trustworthy method for buying Litecoin. However, if you want to store your Litecoin elsewhere, then you can transfer it to a cold storage crypto wallet like Ledger Nano X.
The biggest drawback of buying Litecoin directly on PayPal includes high fees. Also, there is a limited number of cryptocurrencies (only four), whereas other exchanges like Binance and Coinbase offer hundreds of cryptocurrencies to trade and invest in.
Exchange or a Broker: What Are the Differences When Buying Litecoin With PayPal?
You need to understand the important differences between exchanges and brokers to buy Litecoin in a way that matches your requirements. This section explores those differences, so you can better understand the advantages and limitations of both Litecoin trading types.
Buying Litecoin with PayPal using an exchange
Exchanges are centralized platforms like Binance or Coinbase, where you can buy cryptocurrencies using fiat currencies.
Buying Litecoin with PayPal using a CFD broker
You can profit from Litecoin's price movements by using CFD brokers. It works by setting up a contract with a specified time frame; once the period ends, the difference is settled between the coin's price at the start and end. However, you don't own the asset using CFD brokers since it's purely speculative.
Is It Worth Buying Litecoin With PayPal?
This section provides our take on if buying Litecoin with PayPal is a good idea. Overall, we recommend using PayPal because it's available at most Litecoin trading platforms, there are no deposit fees, and the transaction time is instant.
Is PayPal the fastest way to buy Litecoin?
PayPal offers instant deposit speeds, so it's among the fastest methods of buying Litecoin. Occasionally, PayPal's customer support team may hold transactions for inspection, which can take 1-2 days. Of course, you can also buy Litecoin with a credit card and enjoy instant processing speeds.
Is PayPal the safest way to buy Litecoin?
PayPal is among the safest Litecoin buying methods because the payment processor uses 2-factor authentication and has a strong customer support department. Also, PayPal is regulated by government-appointed organizations in the countries where it operates.
Is PayPal the cheapest way to buy Litecoin?
When buying Litecoin using platforms like eToro and Coinbase, there is no fee attached to PayPal. Therefore, it is one of the cheapest options in the industry. However, if you buy Litecoin via the PayPal app, you will incur fees between $0.49 and 1.5% of the transaction amount.
What Are the Fees When Buying Litecoin With PayPal?
The table below highlights the fee structure of different platforms when buying Litecoin with PayPal.
|Purchase fees||$10||$0 to $6||$0 to $0.75|
|Selling Fees||$10||$0 to $6||$0 to $0.75|
|Payout fees||$5||Upto $25 USD||0.001 LTC|
|Inactivity fee||$10 after 12 months||No fee||No fee|
|Total fees||$25||$0 to $25||$0 to $1.5|
Is Buying Litecoin With PayPal Anonymous?
Most Litecoin buying methods with PayPal are not anonymous, as you'll learn in the following section.
Can you buy Litecoin with PayPal without verification or KYC?
When using CEXs or brokers, you'll need to verify your identity and complete KYC verification during the onboarding process. That's because regulators require cryptocurrency trading providers to complete the KYC process. However, when using DEXs, you are not required to verify your identity since you can trade by connecting your DeFi crypto wallet.
Can you buy Litecoin with PayPal without registration?
You'll need to register with PayPal if you wish to use the payment processor to fund your Litecoin trading account. On top of that, you'll need to register with the CEX or broker where you want to buy Litecoin using PayPal. Therefore, it's only possible to buy Litecoin with PayPal with registration, either on PayPal itself or on a centralized exchange.
Reasons to Buy Litecoin With PayPal
Before choosing PayPal or other payment methods, you should consider their benefits. PayPal's strengths include instant deposit speeds, no deposit fees, and it's accepted at most Litecoin trading providers.
Alternative Payment Options to Buy Litecoin With USD
You should take advantage of an alternative payment method when PayPal is no longer an option. This might be because you have lost access to your PayPal account, the fees have changed, or it's no longer available at your preferred decentralized exchange. This section highlights multiple alternative payment options for buying Litecoin.
Buy Litecoin with debit card, credit card, or Amex
Using debit or credit cards offers instant processing speeds, and they are available on most platforms. Also, most individuals already have a card in their possession, so there is no need to register a new account. In addition, exchanges like Binance and CEX.io allow users to use their debit and credit cards to buy cryptocurrencies like Litecoin.
Buy Litecoin with bank transfer
When using your bank account, no further registration or identity verification is required to use this payment method. A bank transfer is an easy-to-use and convenient method to fund your cryptocurrency exchange or broker account. Some of the top platforms accepting bank transfers include Coinbase and Crypto.com.
Buy Litecoin with PaySafeCard
PaySafeCard users can enjoy anonymity because card transactions are not attached to personal information. It's a good option if you want anonymity or don't have a bank account.
Buy Litecoin with PayPal on digital wallets
You cannot directly buy cryptocurrencies from digital wallets like Apple Pay, Google Pay, and Neteller, but you can use them as the mode of deposit on platforms like Paxful and LocalCoinSwap that allow users to top-up the account using digital wallets. However, please note that Paxful and LocalCoinSwap do not allow trading or investing in Litecoin.
What to Consider When Buying Litecoin With PayPal
Take the time to consider a few noteworthy points before using PayPal to buy Litecoin. This sets the right expectations, and you'll understand what's involved.
PayPal support: Before registering an account with brokers or exchanges, check to see if PayPal is an accepted payment method.
Fees: Depositing with PayPal usually incurs no fees. However, you'll have to pay a trading fee when using fiat currencies to buy Litecoin. Compare various platform fees to find a good deal.
Taxes: In the United States, you need to complete IRS Form 8949 to share your cryptocurrency gains and losses with the IRS. However, the tax laws are different in each country, so you should check the requirements in your location.
Safety: Inspect the security protocols of the CEX - ideally, two-factor authentication and 256-bit encryption are used to safeguard customers. Also, think about where you'll store Litecoin after purchasing. You can transfer to a crypto wallet for safekeeping.
Amount: Litecoin is more volatile than most fiat currencies, so set the right expectations when buying. Choose an amount you are comfortable with losing to ensure you can handle the volatility.
How to Sell Litecoin Using PayPal
You can sell Litecoin using PayPal by following the steps as outlined below:
Step 1: Log into your PayPal account and select crypto in the top right-hand corner of the UI.
Step 2: Choose Litecoin from the list of available cryptocurrencies on PayPal.
Step 3: Click on the Sell button and enter the amount you want to sell
Step 5: Confirm the sell transaction details and press the Sell Now button.
Should I Buy Litecoin With PayPal?
To summarize, PayPal is a solid choice for buying Litecoin because there are no deposit fees at most CEXs, the processing time is instant, and it's available at most Litecoin trading platforms. However, note that you must first use PayPal to fund the balance of the 3rd party provider, and then you can buy Litecoin.
Furthermore, you can directly buy and sell four different cryptocurrencies directly from PayPal, including- Bitcoin, Ethereum, Bitcoin Cash, and Litecoin; however, this feature is available only for the residents of the United States.