Litecoin (LTC) is one of the most popular cryptocurrencies today, so buying it with different payment methods is often possible and accessible on various crypto brokers. But here we want to focus on one of the most popular payment methods and the most utilized e-wallet in the world — PayPal.
Keep reading to learn how you can buy LTC with PayPal, what the best brokers are, and much more.
Top Litecoin brokers that accept PayPal
We’ll explain what a PayPal Litecoin broker is later on and how to find a good one, but for now, here are our top picks for the best LTC brokers that accept PayPal payments:
What is a PayPal Litecoin broker?
In the simplest of terms, a PayPal LTC broker is like any other crypto broker, but it only deals with Litecoin and accepts PayPal payments.
Every broker lets you trade crypto, and PayPal Litecoin brokers allow you to trade LTC and enable you to make deposits and withdrawals using PayPal. In other words, you are not directly buying or selling Litecoin with PayPal, you are depositing money to your account on the broker platform using PayPal, and then you are using that money to purchase Litecoin.
Thankfully, even though this might sound too specific, there are plenty of PayPal Litecoin brokers. That’s mainly because both LTC and PayPal are quite popular, so many crypto brokers make sure to cover Litecoin and offer PayPal in their payment transaction lists.
These brokers are not that different from others you might come across. And if you’ve already used crypto brokers, you’ll likely find that some already accept PayPal payments.
What crypto platforms accept PayPal?
You will find that most types of centralized crypto platforms offer PayPal payments. This includes exchanges, brokers, and P2P marketplaces, and lending platforms.
Many specific platforms within these groups will let you connect PayPal to their systems and deposit and withdraw money for buying LTC.
How to buy Litecoin with PayPal
Buying LTC directly with PayPal is still relatively new and only available to US citizens. However, buying via brokers is an option available to the entire crypto-friendly world. Here’s an overview of how you can buy Litecoin with PayPal on broker platforms:
- Choose the Best Platform For You: Go through the list of PayPal LTC brokers we offered earlier in this guide and pick the site that works best for you.
- Register an Account: As every crypto exchange that accepts fiat currency transactions is centralized, you must register an account. Just follow the registration procedure and provide the broker with all the required info, including your name, e-mail, address, etc. Don’t worry about the safety of your sensitive information, as we’ve made sure that all of these brokers are entirely safe and trustworthy.
- Connect Your PayPal Account and Make a Deposit: Once your broker account is ready, you can follow the process for connecting your PayPal account and depositing your desired amount of fiat currency.
- Buy Litecoin: Once your account is topped up with funds, all that’s left for you to do is buy LTC with those funds. You only need to select it and the amount you want to buy. Once you confirm the payment, you’ll get your LTC assets in your account.
How to deposit and withdraw Litecoin via PayPal
The deposit and withdrawal procedures might differ from broker to broker, but they all boil down to the same thing, so our basic guidelines should help you significantly.
Deposit
Depositing money on a crypto broker platform with your PayPal account is quite fast once you have your broker account ready. Here’s what you need to do:
- Log into your broker’s account
- Choose PayPal in the “add money/deposit” section
- The broker platform will prompt you to connect your PayPal account
- Once that’s done, you can send a desired amount of money from your PayPal account to your broker’s account
Withdraw
Once you’ve purchased Litecoin, traded it a bit, and made a profit, you’ll want to withdraw those earnings back to your PayPal account so you can use them. However, you won’t be able to withdraw Litecoin directly — you’ll have to exchange it for fiat currency first. Here’s what you need to do:
- Log into your broker’s account
- Sell the desired amount of LTC for fiat currency
- Choose PayPal from the possible withdrawal options
- Enter the amount you want to withdraw and confirm the transaction
- The money should reach you (how long it takes will depend on how long that specific broker handles PayPal withdrawals)
What should I look for in a PayPal Litecoin broker?
The main things you need to check with the broker you want to use are whether they cover LTC and offer PayPal for depositing and withdrawing money. Once you verify these essential traits, you need to look for other aspects that point to the high quality and value of the broker:
- Transaction Fees: Some broker platforms are more expensive than others, which is why you need to check the fees to eliminate the sites with the highest ones.
- Transaction Limits: The best case for everyone is to register at a broker that offers low minimum and high maximum limits for both deposits and withdrawals. However, if you’re looking to trade in smaller volumes, you can opt for brokers with smaller limit ranges. It always depends on what you’re looking to achieve on the platform.
- Speed: You should always look for a reliable broker with a fast platform where you can make a purchase, a deposit, and a withdrawal quickly.
- Security: The broker platform needs to be safe and reliable to use. You should always check their security protocols and history of breaches to ensure your data and assets will be safe.
- Alternative Payment Methods: You might only interested in PayPal at the moment, but that might change in the future. So, look for brokers that offer a wide range of popular payment methods.
Should I buy Litecoin using PayPal?
There are many benefits to using PayPal for purchasing LTC, but also some downsides. We’ll take a look at both so you can quickly determine if this is the right payment method for you:
Pros
- High Speed: Using PayPal to buy LTC is always quite fast as long as the broker is good
- Convenience: If PayPal is one of your preferred payment methods, then you’ll find it ideal for buying Litecoin as well
- Security: PayPal is one of the most secure payment systems in the world
Cons
- Higher Fees: PayPal is undoubtedly a high-quality e-wallet, but this tends to come with higher costs. As a result, some brokers decide to include higher fees for PayPal transactions, as dealing with PayPal can sometimes be more expensive.
- Some Brokers Don’t Accept PayPal: PayPal can sometimes be complicated for brokers, just as it can be for other businesses. That’s why some brokers decide to simply not offer PayPal as a payment method.
Is using PayPal the best method to buy Litecoin?
As you’ve seen from our pros and cons section, buying LTC with PayPal is easy, safe, and convenient for the crypto brokers we recommend. However, there are a few downsides, most notably the fees. If you don’t mind them or have chosen a broker that doesn’t have high fees for your standards, then you should choose PayPal.
If PayPal is already your preferred payment method, then there’s no need to keep thinking about whether you should use it for LTC as well. Ultimately, it’s up to you to decide, but we hope our explanations have helped you make that decision more easily than before.
What are the alternative payment methods to buy Litecoin with?
If PayPal is not the right choice for you, you can choose an alternative. Here are the best ones to consider:
- Credit and Debit Cards: Credit or debit cards are likely the most convenient way for buying LTC. Everyone uses them in everyday life, and they are typically covered in most crypto broker platforms.
- Bank Transfer: Bank transfer is as good and reliable a payment method as credit and debit cards. However, it can be slower as it usually is for most transactions, so it’s something to consider in advance.
- Apple Pay: If you are a big Apple user, you’ll be glad to know that using Apple Pay is an option on some crypto brokers. This option is convenient, easy to use, and offers high security.
Conclusion
All in all, using PayPal to buy Litecoin is an excellent method to get your hands on LTC as the e-wallet is easy to use, fast, and highly convenient. Plus, PayPal is one of the most reliable payment options worldwide, and you can find it in many crypto brokers. The best ones are listed in our table, so all you need to do is choose one to get started.
FAQs
Can I buy Litecoin anonymously with PayPal?
No, this is not an option. PayPal itself requires you to share information about your identity, and so do the brokers that offer it as a payment method.
How fast is buying Litecoin with PayPal?
Very fast. PayPal itself is an extremely fast payment method, and as long as the broker is also fast, you’ll get your LTC in no time.
Do I need a crypto wallet?
If you want to buy Litecoin and keep it on the broker platform, no. However, if you’re going to use it outside of the platform, you’ll have to get a reliable and high-quality crypto wallet.
Are there low fees when using PayPal to buy Litecoin?
Depositing the money with PayPal is typically free. Still, once you start buying LTC, trading it, exchanging it for fiat currency, and withdrawing that money to your PayPal account, you’ll have to pay higher fees than with some other equally popular payment methods.
Can I hold cryptocurrency in my PayPal account?
This option only recently became available to U.S. users, but it’s still new, and you don’t really get to own crypto or take it out of the platform. The rest of the world doesn’t have this option, so it’s necessary to use crypto brokers instead.
Can I buy other cryptos using PayPal?
Yes, of course. As PayPal is just the payment method, the cryptos you get to buy only depend on the broker platform.
Can I buy Litecoin with PayPal instantly?
Yes, you usually can, as most brokers process PayPal transactions instantly and require only a few seconds or a couple of minutes at most to get LTC into your account. However, withdrawals typically take longer, but usually a few hours at most.
Is PayPal the easiest way to buy Litecoin?
It is one of the easiest options you can use. However, it still depends on what your personal preferences are.
Does Coinbase accept PayPal?
Yes, Coinbase accepts PayPal transactions, but the availability still depends on your region. It also depends on what you want to do with PayPal on Coinbase.