Buy Litecoin or LTC by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about how to Buy Litecoin or LTC.
How To Buy Litecoin or LTC
Litecoin is a peer-to-peer cryptocurrency that enables instant, near-zero cost payments to anyone in the world. Created in 2011 by former Google engineer Charles Lee, Litecoin was intended as “the silver to bitcoin’s gold” and is based on Bitcoin’s open source codebase.
Just like Bitcoin, the world’s first altcoin is a crytocurrency that is generated by mining. However, mining Litecoin easier, faster and more cost effective than mining Bitcoin. Litecoin processes a block every 2.5 minutes, while the Bitcoin network does it every 10 minutes.
Due to its ease and transaction speed, Litecoin is already among the most accepted digital assets around the world and is typically in Top 10 of cryptocurrencies rated by their market cap.
How to buy Litecoin (LTC)?
It is not difficult to buy this coin, as the majority of crypto exchanges support it. Unlike some less popular coins, Litecoin can be purchased directly with fiat currencies.
We suppose the easiest way to buy Litecoins is with a credit card or bank wire. That is why we recommend Coinbase – a trusted exchange, which offers these payment methods. It is available in the United States, Canada, Europe, UK, Singapore, and Australia.
We have developed a short step-by-step guide that will help you buy some Litecoin:
1. Register at Coinbase.
Registration at Coinbase is fast and easy. However, before you deposit some fiat currency, you need to verify your identity. This is a standard procedure, which shouldn’t take more than a few minutes.
At Coinbase, you are able to deposit and withdraw via bank wire (SEPA included), credit / debit card (Visa and MasterCard), as well as PayPal. Transaction fees vary by payment method and country, but generally credit card payments are charged with 4%.
3. Exchange your fiat money for Litecoin.
Coinbase’s platform is very simple and easy to use. You don’t actually need any previous experience to do that.
4. Keep it in a secure wallet.
Coinbase keeps the majority of its assests in cold storage, but you can also send your LTC coins to a number of secure wallets. There is a list of approved software wallets for Litecoin can be found in the ‘download’ section of their official site, so check it out.
Besides, if you want a more secure storage of your LTC, you can also use hardware wallets that plug into your computer like a USB stick. We recommend using a hardware wallet like the Ledger Nano S or the TREZOR.
Other options to trade in Litecoin
Of course, Litecoin can be purchased with another cryptocurrency such as Bitcoin or Ethereum on a number of exchanges.
Yet another option is trading in Litecoin, without all the hassle that owning it involves – long addresses, wallets, and so on. You can do that with a forex broker that offers Litecoin CFDs.
Trading in cryptocurrencies with a forex broker has several strong sides. First, many of those companies are duly licensed, so it is generally safer compared to investing in exchanges (most of which are not regulated). Second, you don’t need to invest much with a forex broker, as all of them offer margin trading. Last but not least, trading in Cryptocurrency CFDs is simpler, as you only speculate on whether the price of Litecoin will to move up or down.
To buy the coin you can sign up with a cryptocurrency broker, you can use Plus500, XM, eToro, Fxpro or AvaTrade crypto currency brokers.
How to buy Buy Litecoin or LTC Conclusion
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