Buying Litecoin (LTC) With A Debit Card
The Bitcoin boom is making headlines around the world. Unprecedented price increases have whetted investor's appetites for the cryptocurrency. With Bitcoin now trading around the $14,000 mark, many people wanting to get in on Cryptocurrency wonder if they missed the Bitcoin boat. Though Bitcoin can be purchased in whatever fraction of a Bitcoin the buyer can afford, the high price still makes some people nervous.
A newer version of Bitcoin has promise. Litecoin, an arguably improved version of Bitcoin that allows for much faster transfer between owners and offers a coin limit of 81 million—versus Bitcoin's 21 million—is taking off.
After its release in 2011, Litecoin reached a peak value of $38 before plummeting to $3 in 2013, where it remained for the next three years. During this time, Litecoin seemed totally eclipsed by Bitcoin, which enjoyed fantastic price appreciation. Then, in 2017, cryptocurrency investors discovered Litecoin.
Litecoin prices surged, reaching the $40 range by the autumn of 2017, then surging to over $300 by December 2017 before settling around the $250 mark at the end of 2017. Litecoin's market cap is still far below Bitcoin, positioning Litecoin as Lyft is positioned to Uber. Uber is the big boy, but many argue Lyft offers better service. Bitcoin is the big crypto, but Litecoin has faster processing and more coins. It may just be the better product in the end.
How to Buy Litecoin with Debit card?
Several cryptocurrency exchanges offer an easy solution for how to buy Litecoin with debit card.
This is one of the busiest exchanges. It is available in 32 countries, including the United States. Coinbase is secure and has a good reputation. Coinbase supports many cryptocurrencies, including Bitcoin. After purchasing Litecoin on Coinbase, it is easy to trade it for other cryptocurrencies.
Coinbase is not a good choice for those who wish to buy Litecoin with debit card anonymously or those who wish to buy Litecoin with debit card no id. This exchange requires uploading your government photo ID in order to verify your identity.
This exchange also has a good reputation and is secure. They have been around since 2011 and recently added Litecoin. Debit cards are accepted. Like Coinbase, it is not a good choice for anonymity. A government ID or passport must be uploaded to verify your identity.
BitPanda has been in operation since 2014. It has grown to 1 million users and enjoys a solid reputation. Debit cards are accepted. Like the other exchanges mentioned, you need to verify your identity with a government ID.
How to buy Litecoin with debit card anonymously?
Anonymity is a big attraction for cryptocurrencies. Some Litecoin buyers are frustrated that cryptocurrency exchanges require identity verification. Doesn't that defeat the whole purpose of cryptocurrency? If it's not anonymous, it's not the same as using cash.
To preserve anonymity, Litecoin can be procured from Shapeshifter, an online Cryptocurrency exchange. Shapeshifter only accepts other cryptocurrencies, so you cannot purchase Litecoin through Shapeshifter using your debit card. You have to first procure Bitcoins, then you can trade your bitcoins for Litecoins with total anonymity.
If you want to avoid having to go through verification on one of the exchanges in order to get the Bitcoin, you can purchase the Bitcoin with your debit card by using VirWox.
To do this, first set up a VirWox account. You can then fund your VirWox account using your debit card. Once funds are in place, use them to purchase Second Life Lindens (SSL). Second Life Lindens are the currency used in the online avatar game Second Life. SSLs can also be used to purchase Bitcoin through your VirWox account.
Once you exchange your SSLs for Bitcoin, you can then transfer your Bitcoin to the anonymous Shapeshifter. Use Shapeshifter to convert Bitcoin to Litecoin, and you have successfully purchased Litecoin anonymously with your debit card.
Buying Litecoin (LTC) with No ID or Verification
Using the VirWox to Shapeshifter method allows you to buy Litecoin with debit card no ID and to buy Litecoin with debit card no verification.
Another way to buy Litecoin with debit card no verification is to find a local trading partner. However, you should never use this method with anyone your don't know or trust. It requires meeting up with the person to conduct the exchange on your cellphones. The Litecoin can be purchased at the meeting using your debit card. The seller can transfer you the Litecoin, and you will need to transfer the cash from your debit card. This can be done through PayPal. If worst comes to worst, you can get cash from your debit card from an ATM—again! never try this method unless you 100 percent know and trust the seller. If you meet someone online, they could very well be a scam artist or a robber. Do not take chances.
With all the incredible convenience of cryptocurrencies and the tremendous price increase, it's great to know that you can buy Litecoin with debit card instantly. Exchanges offer a safe method for purchasing Litecoin with ease. For those desiring anonymity, it can be achieved with a little more work.
Litecoin seems poised to remain in the spotlight. With an 84 million coin limit, it will be mined for many years to come. Those wishing to get a piece of Litecoin's rising star will find no obstacles to buy Litecoin with debit card instantly.
With Litecoin's sudden rise in profile, its no wonder so many investors are wondering what is the best way to buy Litecoin with a debit card.