This article is a step-by-step guide to buy Litecoins for investment purpose. Read the full article if you are finding the best ways to buy Litecoins.
When it comes to investing in cryptocurrencies, we always think about Bitcoins. But we forget that there are some other cryptocurrencies are there doing well in the market and rapidly snatching away a huge percentage of the crypto market from Bitcoin.
One of them is Litecoin. Investing in Litecoin can be very lucrative if you are finding an alternative to Bitcoin. AS trade/crypto analysts say LItecoin would be one of the toughest competitors of Bitcoin in from 2020-2025.
If you buy Litecoin today, the chances are it will give you far more ROI then any other investment options.
Well, without wasting any more time, let’s dig into the business…
What is Litecoin
Litecoin is an alternative cryptocurrency based on the open source blockchain program. Just like Bitcoin, a mining process is involved in solving the puzzles(blocks) to mine Litecoin. Its average block mining speed is 2.5 mins.
The main difference between Bitcoin and Litecoin is the number of coins each cryptocurrency can produce in the future. While the Bitcoin network never exceeds 21 Million marks where Litecoin network will produce 84 million coins in the future.
So, there was some information about Litecoin. Now let us see the places to buy Litecoin.
Where to Buy LiteCoin
There are several online platforms where you can buy Litecoin. But its always recommended choosing the best platforms where the chance of fraud is negligible.
I’ve tasted and came with some of the best exchanges and peer-to-peer platforms you can use to buy Litecoins.
Let’s have a look.
4 Best Exchanges to Buy Litecoin
Here is the list of 4 best cryptocurrency exchanges you can use to buy Litecoins. These all are personally tested by me.
1. Coin Mama
Coinmama is one of the fastest growing cryptocurrency exchange which supports Litecoin exchange along with other popular coins. The best part of this platform is you can use your Credit card to buy cryptocurrencies.
The second benefit of using this exchange is they deliver the purchased Litecoin instantly without any delay.
If you have a VISA/ MASTERCARD Credit card then this is the best platform for you to purchase Litecoin.
The world’s biggest cryptocurrency exchange Binance supports more than 80 cryptocurrencies. But the con of this exchange is it does not support any fiat currency so you need to have any cryptocurrency in their list to exchange with Litecoin.
Although, if you are finding a crypto exchange with minimum exchange fee then Binance is the best option for you. You have to pay only 0.1% exchange fee for any cryptocurrency pair.
Coinbase is the most trustable platform to buy Bitcoin, Litecoin, Ethereum and Bitcoin Cash. Along with buying and selling Litecoin, you can use their wallet to save your Litecoins.
They have some other features like USD coin, and Pro (For advanced cryptocurrency trading). You can use your debit/credit card, bank account (If supported), and other cryptocurrencies to buy Litecoin from Coinbase.
They also provide insurance facility on the stored Litecon on their server, so the chance of losing your money is minimal.
CeX.IO is the second largest cryptocurrency buy/sell platform in the world. However, sometimes they temporarily shut down their server for better protection. The best thing is, in Cex.IO you can buy Litecoin with debit and credit cards. But you need to check out if your credit card provider supports it.
Well, here were the four best exchanges from where you can buy Litecoin without hassle. Now let us come to the second option to buy Litecoin.
P2P Platforms to Buy Litecoins
If you’ve read my article How to Buy Ethereum in India! [Working Methods 2019] or How To Convert Bitcoin Into USD, EURO, INR Etc [4 Best Ways] you already know this method. If you are not aware of this method, let me explain the P2P cryptocurrency platforms in detail.
P2P or peer-to-peer cryptocurrency platforms are the marketplaces where anybody can buy/sell cryptocurrency against Fiat and alternate cryptocurrencies.
You’ve to register as a buyer/seller in the platform and you can find other buyers/sellers to exchange your money with your needed coins. the marketplace takes some amount from the transaction as a commission. The beauty of this method is you can buy Litecoin or other coins with several payment options including wire transfer and even cash.
Note: Always check the reputation and reviews of the seller before initializing the deal.
It is only one trusted P2P platform to buy/sell Litecoin on internet. Here you can buy/sell Litecoin along with Bitcoin, Ethereum, Monero, Dash and Zcash.
But when it comes to Litecoin, the choices are limited in P2P platforms. You don’t get more people selling Litecoin.
How to Buy Litecoins
There are several ways you can use to buy Litecoin from Crypto exchanges and P2P platforms. I have compiled all the possible methods here. Let’s have a look at them.
Buy Litecoin with Debit/Credit Card
Today every person has Debit or Credit cards in their pocket so this is the first and simplest method to buy anything on the internet. You just need to fill the card details and the transaction will be done.
But in the case of cryptocurrency, there is one problem with Debit/Credit cards. In countries like India, buying cryptos with debit/credit card is not allowed. So in those countries, this method can not be used.
In this case, you can use the below options.
Buy Litecoin with Bitcoin
If you already invested in Bitcoins then you can use those Bitcoins to purchase Litecoin. Many exchanges support exchanging Bitcoin with Litecoin. find out those exchanges on the internet or use the above Exchange list.
You can also use P2P networks to direct buy Litecoin from people by exchanging Bitcoin.
Buy Litecoin with Alt Coins
If you already have any other altcoin such as Monero, Dash, Ethereum then you can use those coins to exchange with Litecoin. To use this method you have to find an exchange which supports altcoin exchange.
There you can easily exchange your altcoin with Litecoin. The only thing you need is the wallet addresses of altcoins and Litecoin.
Buy Litecoin with Cash
The last but not the least is buying Litecoin with cash.
However, it’s complicated to search for a reliable people owns Litecoin you can use P2P platforms to do this. But beware of fraud and always check the reliability of the seller before purchasing Litecoin with cash
Conclusion: How to Buy Litecoins
So, here were the details of how to buy Litecoins. Now it’s your time to buy some with the above-listed exchanges and P2P platforms and comment below with your buying experience. Don’t forget to mention your buying method in the comment. It could help others to choose the right method.
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