How to Buy Litecoin LTC 2023 Step-by-Step

how to buy litecoin

Edge on the other hand is only available on mobile, with both iOS and Android apps available. If you want more information you can read my Exodus review or my Edge review. Today, there are two leading hardware manufacturers to choose from – Ledger and TREZOR. Both companies have different models of hardware wallets that will get the job done.

You can deposit GBP directly using cards, bank transfer, Neteller, Skrill, Rapid Transfer, or Trustly. You will need to deposit at least £50 by bank transfer to get started, and after that, there will be fees of 0.6% when you buy or sell LTC in the Trade tab. You can also make instant card purchases instead of depositing, but the fees for this can be significantly higher.

What is Litecoin?

There are so many brokers that now offer Litecoin trades compared to a few years ago. However, we recommend eToro given its reputation in the burgeoning crypto space. But you need to do your own research and take experts’ opinions on how the bear market will end, what the expectations are regarding the prices of crypto, etc.

how to buy litecoin

You will also be required to set up two-factor authentication (2FA) – which you can do via SMS or a third-party app. Coinbase will also ask you to go through an additional security step if you sign in to your account with a new IP address or device. You can also elect to put a 48-hour time-lock on all withdrawal requests, which again, offers a further layer of security. Much like eToro, the process of buying Litecoin can be completed in a matter of minutes – so Coinbase offers a great blend of security and convenience. So if you’re looking for a platform that will give you all the tools you need to succeed in the exciting world of cryptocurrency trading, look no further than Margex. Alvexo is a top-rated CFD broker that offers you the chance to trade cryptocurrencies, stocks, commodities, currencies, and indices.

eToro – Overall Best FCA Broker to Buy Litecoin in the UK

However, LTC mining follows the Scrypt language, whereas BTC adheres to the SHA-256 algorithm. This keeps your personal details and funds secure from bad actors. One of the most popular brokers is the eToro platform which offers top-notch security and low fees when you buy Litecoin. Litecoin may be faster and less energy-intensive, but it is still an infant compared to Bitcoin. Bitcoin commands more than 50% of the $2 trillion crypto market.

  • Bitstamp allows you to buy Litecoins using a credit/debit card, ACH for US users or SEPA for European customers.
  • This helps you to familiarize yourself with the industry, especially if you are new.
  • OKEx offers several LTC markets, which includes Bitcoin, Ethereum, Tether, and USDC.
  • Buying Litecoin in the UK has become increasingly accessible, thanks to the availability of user-friendly platforms and exchanges.
  • Investing in Litecoin may be the best strategy if you are just starting and know how the financial markets work.

Once you are on that asset’s specific page, you may choose to close your trade (click “close”) or create a new trade/order. Here’s where you can enter the exact unit of crypto you want to buy, in this case, litecoin. This approach is expected to impact the price of LTC positively. While the last halving event took place on August 2, 2023, the next one is expected in July 2027.

eToro – Overall Best Place to Buy Litecoin UK

For example, if you want to buy LTC tokens with a debit or credit card, Binance charges 1.8%. This is much more competitive than the 3.99% charged by Coinbase, but more expensive than the 0.5% available at eToro. If you want to deposit funds from your bank account, no transaction fees apply. Plus, Binance notes that the transaction is normally processed instantly.

how to buy litecoin

If you are searching for a more comprehensive process of how to buy litecoin online? This section will break down the steps to invest in Litecoin safely and cost-effectively. You can invest in Litecoin safely by ensuring that you only use a regulated broker and that you do not risk more than you can afford to lose. This top-rated trading platform allows you to stake from just $25 on Litecoin – meaning that you are not required to buy a full coin. Plus, you will only need to cover the spread – as opposed to paying a variable commission. If you’re looking at how to buy Litecoin in the UK right now with a trusted and low-cost broker – consider completing the purchase with eToro.

Privacy and security tips

By most metrics, Bitcoin is likely a better long term store of value. Bitcoin has more institutional adoption, better security and a much larger network than Litecoin. Litecoin was able to send payments faster than Bitcoin, but now Bitcoin’s Lightning Network makes Litecoin look quite heavy. While Litecoin does structurally improve upon Bitcoin’s technology, it still presents risks to investors. Litecoin’s rapidly aging infrastructure is no longer as unique as it was when the coin debuted in 2011, with many altcoins now offering the same benefits and efficiency. Litecoin’s founder, Charles Lee, also sold his stake in Litecoin in 2017, which has affected investor confidence.

  • The first thing to consider is where to buy Litecoin in the UK.
  • You also trade against 500 pairs and benefit from a password recovery service if you misplace your private keys.
  • Due to this, they are much faster and provide p2p services to their users.
  • This means that you can buy Litecoin in the UK without needing to break the bank.
  • While cryptocurrency has slightly recovered since 2023, a recent bearish trend in the broader crypto market led to the price drop below 100$.

It also has a demo account option where no deposit is required to start trading. Firstly, eToro offers super low commissions so that you can buy Litecoin without hefty fees. The broker provides withdrawal and deposit options for several top channels – including PayPal, Neteller, debit, and credit cards. Additionally, online brokers that are regulated by the FCA – such as eToro, have the legal remit to accept fiat money deposits.






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