How to Buy Litecoin in the UK 2022

how to buy litecoin

Investing in cryptocurrencies has proven to be a lucrative endeavour for many investors. In terms of long-term growth, Bitcoin has provided investors with consistent results. Other cryptocurrencies, like Litecoin and Ethereum, have always mirrored Bitcoin’s price. Ethereum is a unique network due to its facilitation of smart contracts and the adoption of DeFi and NFTs (non-fungible tokens).

how to buy litecoin

For example, in the last 7 days alone, Litecoin has decreased by 12%. Alongside other stakeholders, Litecoin has also since acquired a 30% stake in a small German bank. There are many other partnerships too – such as NordVPN, Glory Kickboxing, and Travala. For example, when a well-known organization shows interest in a digital coin like Litecoin, it gives the project credibility and legitimacy. To help clear the mist, let’s start by exploring some of the reasons why you might decide to buy Litecoin in the UK.

For money movers and makers

Buy USD Litecoin with credit card you use, whether it’s MasterCard or Visa. You can deposit through PayPal, Skrill, Neteller, and others. PayPal is one of the easiest ways to buy Litecoin – even easier than your credit card. On exchanges such as eToro, you can deposit funds through PayPal without paying any fees. Aside from these two, you can also buy Litecoin through bank transfers as well as cash. Choose an exchange that has your preferred deposit and withdrawal methods and you will surely enjoy the platform as one of the best ways to buy Litecoin.

What is the easiest way to buy Litecoin?

BitPay makes it easy to buy Litecoin with a credit card. Simply enter your credit card details as a payment method within the app and complete the transaction as you would any other payment method.

LitecoinLocal will transfer the purchased litecoins to your account. Choose a GBP offer that falls within your price range and payment method. Choose your preferred payment method and complete the fund’s transfer. With TRASTRA, you may receive SEPA transfers with no fee, regardless of the amount. Before buying Litecoin with SEPA, make sure it can be performed safely. You can process the transfer with EUR only, and your country should belong to the SEPA zone.

Step 1: Pick the Platform to Buy Litecoin

Before you can get started, you need to sign up with a trusted and well-respected broker. For this, we strongly recommend the beginner-friendly platform eToro. Here you have the safety net of several regulatory bodies keeping the space safe. Ergo, it is considerably cheaper how to buy litecoin and more convenient to buy Litecoin via a regulated broker such as eToro. Don’t forget to make allowances for the aforementioned shifts in value, as this is unpreventable. To give you a better idea – Litecoin might be $80.42 when you hit confirm on your market order.

You can access your dashboard straight away after providing your basic details on the registration page. Since the company employs a 5% transactional fee on deposits via credit cards, it might not suit high-volume traders. However, there are no charges on payments through SEPA or Bank transfers. #Litecoin is an open-source payment network created in 2011 by Charles Lee – a computer scientist and former director of engineering at Coinbase. It is a peer-to-peer digital currency that enables people to send and receive funds without needing third-party intervention.

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However, many centralised exchanges and centralised finance platforms now offer interest on Litecoin that you deposit in a custodial wallet. But while this is a potential way to earn passive income on your LTC holdings, it can be extremely risky. Litecoin currently brands itself as “the cryptocurrency for payments”.

Litecoin is also more affordable than Bitcoin, with each coin currently trading at around $57 compared to $19,000 for Bitcoin. Finally, Litecoin has a much larger supply than Bitcoin, which means that there is less chance of inflationary pressure driving up prices. Overall, Litecoin is a solid investment option for those looking for an alternative to Bitcoin.

How Can You Use Litecoin (LTC)?

It was originally developed using the same framework that powers the Bitcoin network – but has a few changes that make transactions faster and cheaper. Just like any other altcoin, you’ll need a cryptocurrency wallet to store your Litecoin . If you choose to instantly buy Litecoin with a connected debit card, then you’ll be charged a fee of 2% instead. This is significantly lower-cost than anywhere else that allows you to buy Litecoin with a debit card.

Thus, enabling the platform to offer you access to buy Litecoin. Moreover, if you decide to sign up with an exchange – you always face the risk of the platform being hacked.