How to Buy Litecoin in Ireland
A Beginner’s Guide to Buying and Selling Litecoin Cryptocurrency in Ireland
If you’re based in Ireland and wish to buy Litecoin – the process is very straightforward. All you need to do is find a regulated exchange, deposit some funds, and decide how many Litecoin tokens you want to buy.
Litecoin (LTC) began as a fork of the Bitcoin network almost a decade ago. The cryptocurrency is much older than several other crypto assets in the market today. Litecoin is similar to Bitcoin, but it’s designed to be cheaper and faster to transfer. The price of the token has also followed Bitcoin’s price when it comes to fluctuations. That means when Bitcoin rises, the token rise as well.
Presently, Litecoin is one of the ten largest cryptocurrencies by market capitalization. It has a very wide acceptance level and is being traded in most crypto exchanges. If you’re looking to buy Litecoin in Ireland, the following guide will come in handy for you.
What's in This Guide?
The guide contains important details about buying Litecoin (LTC) in Ireland. It tells you where you can buy the crypto asset and provides a step-by-step process when buying with fiat currency. Additionally, the guide tells you how to sell Litecoin, where to store it, and things you should consider before buying the cryptocurrency.
- QUICK GUIDE: HOW TO BUY LITECOIN IN IRELAND
- Where to buy Litecoin in Ireland
- A step-by-step guide to buying Litecoin in Ireland
- How to sell Litecoin
- Which wallets can I use to hold Litecoin?
- How Litecoin works
- Key things to consider when buying Litecoin in Ireland
QUICK GUIDE: HOW TO BUY LITECOIN IN IRELAND
- Open an account with a cryptocurrency exchange.
- Verify your account.
- Go to the deposit section
- Go to the platform and select Litecoin.
- Enter how many Litecoin coins you want to buy.
- Check the details and confirm your purchase.
Where to buy Litecoin in Ireland
Buying Litecoin in Ireland is not as difficult as it may seem. The best place to go is in a crypto exchange. That’s because it is safer to buy either with Bitcoin or fiat currency on a crypto exchange platform that offers trades in Litecoin.
A step-by-step guide to buying Litecoin in Ireland
If you’re looking to buy Litecoin (LTC) in Ireland, you can buy it using a cryptocurrency or using a fiat currency like euros.
Buying Litecoin with other cryptocurrencies
The easiest way to buy Litecoin is with another cryptocurrency. If you have an asset such as Bitcoin or Ethereum, you can easily register with a crypto exchange and buy Litecoin directly. This is because most exchanges accept Bitcoin (BTC) and Ethereum (ETH), as well as other crypto-assets when funding your count with them.
Buying Litecoin with fiat currency
If you don’t have any other crypto asset in a wallet, the only other option for you is to buy Litecoin using fiat currency (euros). Not many crypto exchanges accept fiat currencies for deposits, some of the biggest exchanges do.
If you’re looking to buy Litecoin using fiat currency, you need to follow the guide below.
Step 1: Register for an account with an exchange
The first step here is to open an account with a crypto exchange that accepts fiat currency deposits. Once you've selected the right exchange, go to the account section and complete your registration. In some exchanges, you will be asked to provide your email address and verify the source of your funds or show proof of ID. These are required to stay in tandem with the Know Your Customer (KYC) requirements. After providing all these details, your account will be created. You can proceed to the funding section to deposits euros into your online account.
Step 2: Deposit funds into your account
Once you’ve selected the right exchange, proceed to the deposit section and select the funding option that is more convenient to you. In most cases, you should have the option of paying with a debit card, PayPal, or directly through bank transfer.
Enter your payment details and review the transaction. Once the deposit is complete, a confirmation email will be sent to you.
Step 3: Buy Litecoin
Here is the part where you have to use the fiat currency to purchase Litecoin you require. Navigate to the section of the market where different trading pairs are listed. Litecoin is a very popular coin, so it should be easy to find its pairing with the euros. Enter the amount of Litecoin you want to buy and review your order. When the order gets executed, an email notification will be sent to you.
In a case where you don’t find this option, you can buy the available cryptocurrency pairing with euro, which is always Bitcoin or Ethereum. After buying the token, you can easily buy Litecoin with the cryptocurrency.
How to sell Litecoin
Selling Litecoin is easy. All you need to do is head over to the market section of the exchange and select the “sell” option. Find the right currency pairing you want to sell and enter the amount. Review and complete the order. That’s all!
An email notification will be sent to you once the order is executed.
Which wallets can I use to hold Litecoin?
If you prefer storing your Litecoin elsewhere apart from the exchange, there are two options available to you: storing it in a cold wallet or a hot wallet. A cold wallet is a hardware wallet that stores your coin offline while a hot wallet stores cryptocurrencies online.
Between the two, the hardware wallet is the safer option. It keeps your Litecoin tokens away from the prying eyes of threat actors and hackers.
How Litecoin works
As we mentioned before, Litecoin is similar to Bitcoin, but its transaction is faster and cheaper. Presently, it has a supply limit of 84 million compared to Bitcoin’s 21 million supply limit. Litecoin blocks are generated four times faster than Bitcoin blocks. The tokens have existed for many years now and it has seen some level of price increase over the years.
Key things to consider when buying Litecoin in Ireland
If you’re looking to buy Litecoin (LTC) in Ireland, there are certain things you should consider.
Level of network development
The Litecoin network has experienced some level of expansion ever since it was forked from Bitcoin. It has been helped by a strong team of developers who are serious about making the token the currency of the internet. This is one of the reasons why the token has remained among the best cryptocurrencies in the world.
Level of acceptance
One of the ways a cryptocurrency can gain at price is the level of acceptance and adoption. Litecoin (LTC) has become very popular, as several exchanges are now offering crypto assets on their platforms. This also means trading on the crypto token will be faster and easier.
If a cryptocurrency is faced with lesser competition, it allows the token to expand faster in the market. Litecoin has some level of competition within its territory, which includes DASH, Monero, and Ripple. As a result, Litecoin may not receive a wider level of adoption as expected. But the crypto asset is doing great despite the competition.
eToro – Best Platform to Buy Litecoin in Ireland
eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.
Where can I buy Litecoin in Ireland?
Cryptocurrency exchanges are the best places you can buy Litecoin (LTC) in Ireland.
Can I buy Litecoin (LTC) with fiat currency?
Yes, some crypto exchanges allow fiat currency deposits.
Where can I hold Litecoin?
The safest place to store Litecoin is in an offline crypto wallet or an online crypto wallet.