Where and how to buy Litecoin? In this post we will learn how to buy Litecoin, one of the fastest growing cryptocurrencies in 2017
Are you interested in cryptocurrencies? Do you want to know where and how to buy Litecoin? This post is a full guide on where to buy this cryptocurrency and why you should do it in 2017.
What is Litecoin?
If you are interested in Bitcoin and cryptocurrencies there is a big chance that you have already heard of Litecoin. Litecoin is one of the main alt coins, and it is technically very similar to Bitcoin. Like most cryptocurrencies, Litecoin is an open source project and is also decentralized.
Litecoin was in 2011 by a former Google employee, Charlie Lee. It is currently the fourth largest cryptocurrency in terms of market cap.
Despite being very similar to Bitcoin in technical terms, there are some significant differences between these two coins. One of the main advantages of Litecoin is how it handle transactions.
Litecoin transactions are considerably faster than Bitcoin transactions as block generation is also faster. Confirmations on the blockchain are faster on Litecoin which makes the life of merchants easier, and Litecoin use more appealing.
There are a number of other differences between Litecoin and Bitcoin, when it comes to mining, you can read more about it in this article.
Where to Buy Litecoin
After this brief Litecoin overview, let’s check some exchanges in which Litecoin is available.
HitBTC is currently one of the biggest cryptocurrency exchanges. It is not only an option to buy Litecoin, but it offers a wide range of digital currencies, from Bitcoin and Ethereum to Litecoin and other Alt coins.
Check HitBTC website
Coinbase is one of the biggest exchanges on the digital currency market. Apart from Bitcoin, you can also buy and sell Ethereum and Litecoin in this exchange platform
Check Coinbase Website
Coinmama is also one of the biggest players in the digital currency world, especially on bitcoins. You can also buy Litecoin from Coinmama.
Check Coinmama Website
Changelly is a great website for exchange multiple currencies. They have one of the biggest lists of cryptocurrencies available for exchanging. You can only get Litecoin from Changelly if you have already other cryptocurency.
Check Changelly Website
OKCoin is one of the leading digital currency exchanges in Asia, but you can buy Bitcoin or Litecoin from there from most countries.
Check OKCoin Website
Another great option for buying Litecoin and other cryptocurrencies.
Check 247 Exchange Website
YoBit is an excellent website to exchange and trade coins. It has a very vast number of digital currencies like Litecoi and also fiat currencies to deposit and withdraw.
Check YoBit website
In LocalBitcoins you cannot buy Litecoin, but it is the easiest and most hassle free to buy Bitcoin. Once you have Bitcoins you can easily trade them for Litecoin.
Go to LocalBitcoins Website
How to Buy Litecoin
There are many ways to buy Litecoins. The most popular ways are using credit and debit cards, bank transfer, or exchanging it for another cryptocurrency.
The availability of each of this payment options will depend on your type of card, or bank location and also the options that each website offers.
How to Buy Litecoin using Debit and Credit Card
One of the easiest ways to buy Litecoin is using a debit or credit card. This process usually requires verification. The verification normally involves a photo ID (passport or similar) and sometimes a proof of residency. This avoids money laundry and chargebacks for the exchange service.
How to Buy Litecoin using Bank Transfers
Buying Litecoin using your bank transfer is a very similar process than buying with a credit or debit card. However, there are some differences.
The first difference is that the bank transfer usually involves a longer delay than buying with a card, which can be often done instantly. However fees may be higher for card purchases, depending on the exchange.
Using a bank transfer can be safer for the buyer, as sharing your card details is not necessary.
How to Buy Litecoin using Other Cryptocurrencies
If you have other cryptocurrencies like Bitcoin, Ethereum, Ethereum Classic, Monero, ZCash or Dash, it is pretty easy to exchange them for Litecoin.
My favorite path is using LocalBitcoins as its verification requirements tends to be less complex than most exchanges. Once I buy Bitcoins on LocalBitcoins, I can send from the LocalBitcoins wallet to any exchange wallet, and then exchange it for Litecoin.