How to Buy Litecoin in the UK 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, the top wallets to use, and the fees you’ll encounter. You’ll also discover alternative ways to earn money from LTC in this post.

Best Exchanges to Buy Litecoin in the UK

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eToro - The Overall Best Way to Buy LTC in the UK

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:

Best Platforms to Buy and Trade Litecoin in the UK

The following section will disclose the best exchanges and brokers for investing in Litecoin.

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

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 Litecoin trading pairs 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. 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

Using one of the deposit methods available, deposit funds into eToro. The platform accepts bank transfers, debit cards, 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.

Additional Step: Send Litecoin to a wallet

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

Buy Litecoin On eToro Now

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 Litecoin 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:

How to Sell Litecoin in 2023 Using eToro?

Selling coins like LTC is a smooth process with eToro. Here’s a simple guideline for cashing out your investment:

• Step 1: Sign in to eToro and head over to the cryptocurrencies tab. Select LTC to open the trading interface.

• Step 2: At the top of the page, select the sell option and input the amount of LTC to exchange. Review the order and press “Open Trade” to finish.

Also, if you would like to know more about selling Litecoin and other cryptocurrencies, we created the following guide on how to sell cryptocurrency in the UK.

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:

eToro

eToro 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 eToro.

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 assets 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: Verification

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

Step 3: Deposit money

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

Step 4: Buy LTC

Open the cryptocurrency section and find LTC. 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.

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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

Buy Litecoin On Binance

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, you cannot deposit fiat currency. You can use a DEX like PancakeSwap using a decentralized crypto wallet like MetaMask that does not store fiat. 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?

Litecoin is unavailable 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 host LTC 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 which you can withdraw to a wallet and pay for various services or products.

Best Ways to Buy Litecoin in the UK

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

Buy Litecoin Instantly With Online Banking - The Fastest Way

The quickest way to purchase Litecoin via online banking is by using it as a deposit 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 purchase and hold Litecoin. 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 deposit method with eToro and Coinbase.

Additionally, we created the following guide on how to buy Bitcoin with PayPal in the UK so you can go deeper and find out more about the process of using PayPal to buy cryptocurrency in the UK.

Buy Litecoin Using a Debit Card - The Cheapest Way

If you want low fees when buying Litecoin, use a debit card as a deposit method on Coinbase because they do not apply a deposit fee. Afterward, you can use the trading platform to acquire LTC.

Buy Litecoin Using a Credit Card

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

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 in the UK?

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 in the UK

Coinbase and crypto.com offer instant buy sections on their platforms where you can quickly acquire LTC by inputting your bank 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.

How to Buy Litecoin Anonymously in the UK?

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 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?

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

Should You Buy or Sell Litecoin?

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, low 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.

Alternatively, if you think Litecoin is not a good GBP investment, check out these guides to buying other coins in the UK:

• Best way to buy Bitcoin in the UK

• Best way to buy Ethereum in the UK

• Best way to buy Dogecoin in the UK

• Best ways to buy Cardano in the UK

• Best ways to buy DASH in the UK

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

Yes, you must pay capital gains tax on crypto that you’ve sold at a profit in the UK. For capital gains over the £12,300 tax-free allowance, you'll pay 10% or 20% tax. For additional income from crypto over the personal allowance, you'll pay between 20% to 45% in tax.

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 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.

Historical Litecoin Course: Major Milestones in the History of Litecoin

Here are some events that have occurred during Litecoin’s lifetime:

Current Price Prediction News

The box below discloses related price prediction news if you want to hear what experts say:

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.

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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