How To Buy Litecoin With Credit Card
Get your credit card out and get ready to buy one of the hottest cryptocurrencies on the planet, Litecoin (LTC). Buy with confidence from one of our vetted exchanges that accept credit cards as payment for Litecoin.
Litecoin is taking cryptocurrency markets by storm. Once a neglected distant cousin of the cryptocurrency star, Bitcoin, Litecoin began trading in 2011. It hit a high of $38; however, by 2013, it sunk to a lowly $3 and stayed in that price range for years.
Despite this early decline, 2017 has proved to be Litecoin's banner year. Prices skyrocketed into the over $40 range, then at the end of the year surged into the $300 range. Prices as of the tail end of 2017 are over $250.
Cryptocurrency buyers are getting to know Bitcoin's cousin and clearly showing it some love. Litecoin's dynamic rise has a lot to do with the overall increase in interest in cryptocurrencies and the proliferation of cryptocurrency exchanges. Litecoin is becoming as easy to buy as Bitcoin. Cryptocurrency exchanges are gaining customers in the hundreds of thousands.
Now that futures trading has opened for Bitcoin, interest in the star crypto is increasing dramatically, and Litecoin is riding on its coattails. At this point, what is good for Bitcoin is good for Litecoin. The more people start investing in Bitcoin, the more people find out about its little cousin.
With such demand being created, many investors interested in Litecoin wonder how to buy Litecoin with a credit card. Using a credit card is one of the easiest and most secure methods of purchasing Litecoin. You have the benefit of your credit card's fraud protection, and if you have 0 percent interest, you can pay off your Litecoin purchase over time and still avoid interest.
Many cryptocurrency exchanges accept credit cards, allowing you to purchase directly from the exchange. The exchange matches buyers and sellers based on quantity and price. In other words, it's a free market and you can bid the price you want to pay and try to find a willing seller. Likewise, sellers offer their price and try to find willing buyers. This creates the supply and demand dynamic that sets the cryptocurrency prices—much the same way the prices buyers are willing to pay and sellers are willing to accept determines the price of a stock.
Exchanges That Offer Litecoin and Accept Credit Cards
These exchanges offer the opportunity to buy Litecoin with credit card anonymously. You can also buy Litecoin with credit card instantly. The exchanges do, however, have limits on the quantity you can purchase. Later in the article, the way around this limit for those that want to buy Litecoin with credit card anonymously is discussed. The method takes more time than buying on the exchanges, so it is not ideal for those who want to buy Litecoin with credit card instantly.
This exchange is only for people outside of the United States. This exchange, and others like it, serve strictly as an exchange of fiat currency (dollars, euros, and others) for the cryptocurrency. This is great if you want to buy Litecoin with credit card no id in order to speculate on the price. When Litecoin surges, you can then exchange your Litecoin for your native currency and enjoy the profits.
eToro does not work if you want to exchange Litecoin with other cryptocurrency holders or trade Litecoin for Bitcoin. At an eToro type of exchange, you never receive the cryptocurrency. It is held at the exchange and can only be redeemed for fiat currency.
Coinbase is available in 33 countries, including the U.S. For those who want to buy Litecoin with credit card no verification and then trade Litecoin for Bitcoins or other cryptocurrencies, Coinbase is a great option. Coinbase does cap credit card purchases at $500.
If you want to always buy Litecoin with credit card no verification, the $500 limit always applies. If you are willing to have your identity verified, then it is possible to get the limit raised for subsequent purchases.
Bitpanda allows members to buy Litecoin with credit card no id. Limits are low at $500.
How Can You Avoid the Limit?
The method of how to buy Litecoin with a credit card and avoid the exchange-imposed limits requires some fancy footwork.
First, you need to open an online account with VirWox. Once this is opened, you use your credit card to purchase Second Life Lindens. The Second Life Lindens you purchase can then be traded for Bitcoin. Once you have the Bitcoin, you can then go to an exchange like Coinbase and purchase as many Litecoins as your Bitcoins can buy. There is no limit to your Second Life Linden and Bitcoin purchases, so that leaves you free to buy as many Litecoins as you can afford.
Second Life Lindens are the currency used in the online game Second Life. Though this method requires a number of steps, it allows you to buy Litecoin with credit card anonymously.
Where do you store Litecoins?
Once you own Litecoins, you need to store them in a safe location. To do this, obtain a Litecoin wallet from an exchange, such as Coinbase. Make certain to always store cryptocurrencies in your own digital wallet. If you leave them on the exchange and the exchange is hacked, you can lose your cryptocurrency. There is no recourse in this case. It is the same as if you lost a wad of cash.
Many investors are bullish on Litecoin, seeing it as following in Bitcoin's footsteps. Litecoin certainly has the capacity to grow. Litecoin's coin limit is 84 million, whereas Bitcoin's coin limit is 21 million.