Looking to buy Litecoin online instantly? Read our guide on how to buy Litecoin and purchase one of the most popular cryptocurrencies!
Litecoin (aka LTC) is a cryptocurrency that was created on October 7, 2011, by former Google employee, Charlie Lee. It is a digital currency used for buying and selling goods and services.
Unlike fiat currencies, which are controlled by a central authority, the creation (mining) and transfer of crypto coins are controlled by an open source, decentralized cryptographic protocol. In some ways, cryptocurrency propagation mimics the mining of gold.
Litecoin is one of the most popular digital coins, remaining in the Top 5 of cryptocurrencies (according to market capitalization). Buying Litecoin is easier with the rise of exchanges. If you want to get in on the ground floor, you might consider Litecoin mining.
Where and How To Buy Litecoin
Litecoin's value continues to change every day. As of December 26, 2017, the value of Litecoin was USD$282.00 or so.
If you are interested in purchasing LTC, you can do so on Litecoin exchanges. Experts know where to buy Litecoin for the best deals. Since this is a peer-to-peer digital currency, you can also buy them directly from other people. You can also buy Litecoin using a credit card. Finally, if going into credit carddebt to get your cryptocurrency just isn't your thing, you can always purchase Litecoin with a debit card.
People can exchange Litecoins for Bitcoins and vice versa. Bitcoin is created at a faster rate than Litecoins. Litecoin uses Bitcoin's open source codebase but can complete transactions faster.
Some believe that the goal of the cryptocurrency industry was to make Bitcoin like gold and Litecoin like silver. How is this achieved? Bitcoin is scarcer; Litecoin has a larger total supply, making it less valuable. Looking to get your hands on the next silver? Buying Litecoin using paypal is a great way to get exposure to this cryptocurrency without signing up for an exchange.
Cryptocurrencies are electronic forms of money and some might want to store them offline. A Litecoin wallet allows you to do this. You can buy Litecoin easily and store them in wallets. You should look for control over private keys and good backup and recovery systems. Here are four of the most popular hardware and desktop wallets.
Ledger Nano Sis a hardware wallet allowing you to control your private keys in an offline environment. Ledger Nano S has a built-in OLED screen, backup seed key and pin code functionality.
Trezoris a hardware Litecoin wallet with an OLED screen, 24-word recovery seed and 9-digit pin code.
Exodusis a desktop wallet with an interactive graphical user interface (GUI). If you have problems, you can enjoy one-click, 12-word recovery. It has a ShapeShift converter. Exodus is available on Mac, Linux or Windows.
Jaxxsupports Litecoin and a dozen other cryptocurrencies.The Jaxx Litecoin wallet has 12-word backup seed recovery and a ShapeShift converter. You can import or export keys when needed. It is available on iOS, Mac, Google, Firefox or Linux.
Here is how to buy Litecoin on exchanges. You sign up for the exchange. Verify your identity and choose a payment method. The primary payment methods are online money transfer systems (i.e. Paypal), bank accounts or credit cards. Using cash to buy Litecoin can be difficult, but it can be done, just not using an exchange.
Then, you will deposit money into your chosen Litecoin exchange. Now, you can purchase coins. If you want to know the present value of coins, you can useWorldCoinIndex.
The goal of the exchange is to bring together buyers (takers) and sellers (makers). The buyer offers a price to buy Litecoins; the seller offers a price to sell Litecoins.
In the parlance of digital currency exchanges, you might be able to selectMarket PriceorLimit Price. If you purchase at the Market Price, then you are buying Litecoins that someone has already made available. When you are selling Litecoins, you offer them at the Limit Price.
LTC exchanges charge transaction fees for the buyer. Some will not charge transaction fees for the seller. Here are four of the best Litecoin exchanges:
Bitfinex has 22 cryptocurrencies to choose from. It offers a liquid order book and 3.3x leverage trading. You can choose from a suite of order types and useful charts.
Global Digital Asset Exchange (GDAX) was formerly called the Coinbase Exchange. This is a world-class trading platform with an industry-leading API. It is backed by top investors and offers 0% maker fees.
Huobi has branches in Hong Kong, Seoul, Singapore, and Tokyo. It has millions of users from more than 130+ countries, owning more than $1 billion in assets. You can have anytime access 24/7/365, view comprehensive information on more than 190+ cryptocurrencies and use more than 50+ unique technical indicators.
OKEX allows you to exchange your fiat currency for tokens. This digital asset exchange has plenty of charts and allows you to trade using leverage.
Buy Litecoin to get in on the ground floor of one of the hottest assets - cryptocurrencies. Litecoin mining uses specialized computers to propagate new coins through proof of work. This is how to buy Litecoin.
Those who offer their computers for Litecoin mining are rewarded for this verification with new Litecoins. Litecoin mining requires computer hardware, electricity and time. Entire warehouses are devoted to digital currency mining.
The goal of Litecoin is to maintain the same speed for block propagation of 2.5 minutes. Therefore, the community attempts to compensate for price increases by adjusting its proof of work algorithm.