By the time you’ve finished reading, you should know everything about how to buy or sell Litecoin.
Although Bitcoin remains the #1 crypto, LTC is one of the top-ranked options in market cap terms. It is a highly scalable coin with fast transactions and low fees.
The flexibility of the Litecoin network means it has taken on many improvements. This means that the long-term outlook for this coin is better than most.
So, if you’re looking to invest in Litecoin, this brief guide is an essential read.Key Takeaways
Disclaimer: Nothing on this page should be considered investment advice. Although LTC has a solid track record, it has experienced major downturns. Always seek professional advice before you decide to make any kind of investment.
Here are the best Litecoin exchanges for your consideration.
Read these short, sharp reviews before you look for a Litecoin exchange. They provide a high-level overview of a selection of the platforms on this page.
1. Coinbase Exchange Review
2. Binance.US Exchange Review
3. Kraken Exchange Review
4. Gate.io Exchange Review
5. OKX Exchange Review
Litecoin is a type of digital currency similar to Bitcoin. Buyers can use it for online transactions. It was created in 2011 by a programmer named Charlie Lee.
Lee introduced LTC as a “lighter” version of Bitcoin, aiming to improve upon some of its aspects. It uses blockchain technology to keep track of transactions, just like Bitcoin.
However, some technical differences make it faster and cheaper to use for transactions.
Litecoin remains one of the most popular cryptocurrencies for buying and trading. Here are a few of its strong points from an investment perspective.
Of course, no investment is perfect. Litecoin has a few flaws that may cause you to think twice about buying it.
Are you interested in owning Litecoin? Buying LTC is a straightforward process that even beginners can manage easily.
To get started, you must choose a trusted cryptocurrency exchange. Then you need to create an account. Next, you must deposit funds and place an order to purchase Litecoin.
Once you’ve purchased LTC, you might consider transferring it to a personal wallet for added security. Let’s outline how to buy Litecoin in a step-by-step fashion.
Research and select a reliable cryptocurrency exchange where you can buy Litecoin. Popular options include Coinbase, Binance, and Kraken.
Overall, look for cryptocurrency exchanges with a good reputation, user-friendly interface, and strong security measures.
Visit the exchange’s website and sign up for an account. You must provide your email and create a password.
You’re also required to verify your identity according to the exchange’s requirements. This usually involves submitting some identification documents.
After verifying your account, you can deposit funds. Many crypto exchanges allow you to use several payment methods.
For instance, you can select the fiat currency of your choice. This means using bank transfers, a credit card or a debit card. There is also the option to try an eWallet such as PayPal.
Of course, you can also pick a crypto you already own. Popular coins include Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP).
Choose the method that suits you and follow the instructions to deposit the desired amount of money.
Navigate to the trading section once the funds are in your exchange account. Choose the Litecoin trading pair you want. Examples include LTC/USD or LTC/BTC.
Decide whether to place a market order (buy at the current market price) or a limit order (set your own price).
Enter the amount of Litecoin you want and review the order details. Confirm the order, and it will be executed once the conditions are met.
After buying Litecoin, you might want to move it to a personal cryptocurrency wallet for added security. To do this, go to your exchange’s withdrawal section.
Enter your Litecoin wallet address (from a wallet you control) and the amount you want to withdraw. Confirm the withdrawal and follow any additional security steps required by the exchange.
Once the Litecoin is in your wallet, it’s safer from potential exchange hacks. There are different types of wallets. They include software wallets (apps), hardware wallets (physical devices), and paper wallets (printed codes).
Choose a crypto wallet based on your security preferences. Follow the setup instructions provided by the wallet provider.
Make sure to keep your wallet’s private keys or recovery seed in a secure place. These are crucial for accessing your Litecoin in case you lose access to your wallet.
Remember, buying cryptocurrencies involves risks, so it’s important to research, use secure practices, and only invest what you can afford to lose. If you’re new to this, consider starting with a small investment and gradually learning more as you gain experience.
Now that you know how to buy LTC on a crypto exchange, it’s time to cast aside the yolk of fiat. With Litecoin, you have a trusted coin with immense long-term potential.
Buying it online is easy if you use a reputable exchange. Don’t part with your money until you thoroughly review the company in question. Otherwise, you could lose everything you deposit.