Litecoin is one of the oldest, most established cryptocurrencies on the market today.
Bitcoin’s peer-to-peer electronic cash system inspired it.
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| Where to Buy Litecoin?: eAskme |
If you want to buy Litecoin, you can do so on any cryptocurrency exchange (also called a digital currency exchange or DCE).
DCEs allow users to buy and sell cryptocurrencies (cryptos) with other users, sometimes for U.S. dollars or other government-issued currencies, such as Euros or British pounds.
History of Litecoin:
Like Bitcoin, Litecoin (LTC) is a decentralized cryptocurrency used for online transactions.
Litecoin works on a similar blockchain to Bitcoin and has also been created using a script as a proof of work scheme.
The coin was released via an open-source client on GitHub in October 2011.
Lee left Google and worked on the development of Litecoin full-time until March 2013, when he joined Coinbase as a director of engineering.
LTC hit a $1 billion market cap in November 2013 but then suffered from problems such as confirmation time increase and vulnerability to miners.
At present, it trades at around $137 per token with a circulating supply of almost 67 million coins.
Buying Litecoin is not very difficult; given its popularity among investors, there are several exchanges through which you can purchase LTC with fiat currency or other cryptocurrencies.
How to Buy Litecoin?
If you’re looking to buy litecoins, a few different exchanges can help facilitate your purchase.
You can compare each exchange in terms of trade volume, platform fees, and so on before deciding which one is right for your needs.
It’s also important to note that not all exchanges support direct purchases of litecoins with fiat currency (i.e., U.S. dollars), so make sure an exchange does before making any trades.
The Changelly app allows you to buy Litecoin with a credit card or deposit Bitcoin from an external wallet.
Credit cards cost a 3.5% fee. Bank transfers come with either a 1% fee (minimum $5) or no fee at all, depending on your country of residence.
You can also exchange Bitcoin cash and Ethereum for litecoins through Changelly: enter the amount of either coin you wish to convert under ‘Customize Payment Amount’ during checkout to see your available options.
Another platform for buying and selling LTC is Coinbase if you don’t mind waiting four business days to get approved.
You can use a credit/debit card on their website to fund your account directly with U.S. dollars and buy litecoins instantly.
Buying large amounts of coins means paying small transaction fees.
Many buyers prefer meeting in person (or using other secure payment methods) when doing business with people they don’t trust or aren’t familiar with.
The Best Place to Buy and Sell Your Litecoins:
Binance is another popular platform for users to purchase and trade cryptocurrencies.
While there are plenty of alternative platforms, Binance has made a name as one of the most reliable exchanges in terms of speed and security.
Regarding buying Litecoin, Bitfinex has also been popular among users due to its deep liquidity pools and up-to-date newsfeed via Twitter.
However, be wary of thieves posing as legitimate businesses and never enter your private key unless necessary!
Buying large litecoins directly through these sites is not recommended because many exchanges don’t operate using safe practices.
Instead, withdraw from your exchange into a wallet that you fully control; once there, make sure to verify that all transactions are correct by entering multiple receiving addresses before sending payment.
Ways You Can Store Your Litecoins:
The cryptocurrency world can be difficult and, at times, overwhelming, which is why it’s essential to do your research when choosing a wallet for your litecoins.
Wallets are digital tools that enable individuals to store their digital currencies safely and securely.
Consider looking into desktop wallets, mobile wallets, hardware wallets, paper wallets, or brain wallets before making a final decision.
You also want to familiarize yourself with security features (two-factor authentication) and pricing models (monthly/annual).
Some services charge a flat fee, while others may offer free transactions depending on how much you’re willing to pay in transaction fees.
Many more only allow for a certain number of transactions each month.
Additionally, security measures come standard: multi-signature capabilities and private keys being stored on different servers.
Make sure your currency will be accessible from anywhere at any time in case anything happens to your device(s), especially if you plan on holding on to the long-term as an investment!
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