How to Buy Litecoin LTC

Given this, it occupies the second position on the crypto chart with an 18.5% share of the crypto market. It is also secure and regulated by the Guernsey Financial Sector Commission (GFSA), meaning your funds and details are safe from bad actors. You also trade against 500 pairs and benefit from a password recovery service if you misplace your private keys. Cryptocurrencies have been called a bubble waiting to explode, and that has been for a good reason. The 2017 crypto market crash and the recent May downturn show that the space is still in its infancy. So, before putting your hard-earned cash into crypto, conduct thorough research on the assets.

This is basically because a single entity does not govern cryptocurrencies. As they are based on decentralized blockchain technology, their value is driven by demand and supply market forces. Many investors are put off by the high value of Litecoin, believing they need to buy up to 1 LTC before they can trade the digital https://www.tokenexus.com/ asset. Litecoin can be broken down into smaller units, and you can buy any amount of Litecoin that you want. Coinbase Pro has advanced charting functions, allowing users to make crypto-to-crypto transactions and place market, limit, and stop orders. This means you do not have to pay additional fees when placing a trade.

Buying Litecoin as a CFD Product

Buying Litecoin has never been easier for your average Joe Public. Simply sign up to a regulated online broker offering Litecoin – create an order, and specify your stake value. However, we can confirm that eToro is fully compatible with PayPal – as well as Skrill and Neteller.

Regarding fees, eToro charges just 0.5% on deposits – irrespective of the payment method. Storing your coins in a hardware wallet is probably one of the best security measures. Putting that into perspective, we recommend that large holders invest in a hardware wallet such as Trezor or Ledger. These devices store your assets offline, making it almost impossible for hackers to breach without any human error. At the time of writing, Binance does not require a KYC process if you’re only going to trade cryptocurrencies and not exchange them for fiat currencies.

Historical Litecoin Course: Major Milestones in the History of Litecoin

Be prepared to pay a markup on LTC’s market rate in exchange for the convenience. This is a standard security procedure for most exchanges in the UK and requires you to upload some photo ID, and in some cases a selfie with today’s date. how to buy litecoin For this reason, some think of Litecoin as a complement to Bitcoin, not a competitor. Litecoin and Bitcoin have many of the same properties, but Litecoin is often considered more of a payments technology and Bitcoin a store of value.

For example, in late 2018, Litecoin sponsored a major UFC event. Litecoin has since become the ‘official cryptocurrency’ of NFL team the Miami Dolphins. When thinking about how to buy Litecoin safely – without a doubt the best way is to do so via a licensed broker such as eToro. The broker provider is registered with FINRA (US) and is regulated by the FCA (UK), CySEC (Cyprus), and ASIC (Australia). EToro stores your cryptocurrencies under strict regulation, so you can buy Litecoin knowing you are protected by the FCA, ASIC, and such. As a result, you no longer need to worry about making multiple transfers, remembering your private key, or being the victim of a scam.

Most Platforms Selling Litecoin are Unregulated

One thing to pay attention to while investing in Litecoin is how much interest it gets from huge institutions. Safety comes next, and you should only buy Litecoin from an exchange with strong security protocols. A crypto exchange that does not take security seriously could lead to losing funds and leaking your details. Also, you should move your funds from the platform to cold digital storage. One of the major things to take into account is the institutional interest in Litecoin.