In this article, Trading Education will share their top 5 best ways to buy Litecoin in 2023, their pros and cons, and other essential details that will guide you in deciding among them.
After the creation and release of Bitcoin to the general public in 2009, Litecoin followed. Created and released by Charlie Lee in 2011 to serve as the silver to Bitcoin’s gold, LTC serves as a transactional currency that settles thousands of transactions daily.
What’s more, it is one of the most traded digital coins in the market, with at least $500 million in daily trading volume. This has helped in categorizing Litecoin as a large-cap digital asset since its market capitalization is more than $10 billion.
By going through this article to the end, you will find the best way to buy Litecoin. This will help give you clear guidance on the different ways to buy Litecoin based on your preference.
Read on, take action, learn how to buy Litecoin, and be a part of cryptocurrency traders, decentralized finance enthusiasts, and blockchain experts who are making significant gains from this financial revolution.
If you want to buy Litecoin quickly and easily, check out eToro!
TABLE OF CONTENTS:
- Best 5 Exchanges to Buy Litecoin
- Introduction to the Crypto World
- Finding the Right Site for Your Needs
- Payment Methods Compared
- The Cheapest Place to Buy Litecoin
- The Safest Way to Buy Litecoin
- The Easiest Way to Buy Litecoin
- The Fastest Way to Buy Litecoin
- How Do I Buy Litecoin Near Me?
- Best Ways to Buy Litecoin Anonymously
- Best Ways to Buy Litecoin with PayPal
- Best Place to Buy Litecoin with a Credit/Debit Card
- Best Ways to Buy Litecoin with Your Bank Account
- How to Buy More Cryptocurrencies, Or ‘Altcoins’
- See You On The Other Side!
Best 5 Exchanges To Buy Litecoin
Experts at Trading Education that have contributed thousands of highly researched fundamental and technical analysis have experimented in the crypto market for a decade.
Throughout their journeys, they have encountered countless issues with customer service, user navigation, security, liquidity, and regulation.
Since you cannot learn without making mistakes, we have taken all the activities performed into account.
Therefore, here is the sum of our collective knowledge.
This is a list of cryptocurrency exchanges we have used countless times based on trust which we have recommended to numerous traders and investors, and which we consider as the best places to buy Litecoin.
The 5 best places to buy Litecoin are Coinbase, eToro, Binance, Huobi Global, and other honourable mentions.
Coinbase was founded on 20th June 2012 and its subsidiary Coinbase Pro was launched on 23rd May 2018. Coinbase is the largest cryptocurrency exchange in the United States by trading volume.
Both are cryptocurrency exchanges that allow you to use fiat money (USD, EUR, GBP, and others) to buy Litecoin and other cryptocurrencies.
While Coinbase is known for its use by beginners, Coinbase PRO is widely known as the platform of choice for active traders.
For many beginners, this has led to questions such as how to buy Litecoin on Coinbase, does Coinbase take Litecoin, when was Litecoin listed on Coinbase, and does Coinbase have Litecoin?
Coinbase added support for Litecoin on 3rd May 2017 as a result of its potential in such a saturated market. Coinbase plays a massive role in the daily liquidity LTC sees consistently.
To buy LTC on Coinbase, you have to register for an account and go through a verification process. But before you embark on investing in LTC on Coinbase, let us take a look at the pros and cons of Coinbase that will guide your decision to invest in Litecoin.
Pros of Buying Litecoin with Coinbase:
✅ Is highly regulated and possesses the necessary licenses across several jurisdictions in the United States.
✅ Allows you to buy, sell, and hold over 80 digital coins including Litecoin.
✅ Offers low account minimums (you can deposit $2 or 2€ and use it to buy Litecoin and other cryptocurrencies).
✅ Has got a range of payment methods which includes debit/credit cards as well as PayPal.
✅ Is currently available in more than 100 countries.
✅ Offers user-friendly charts.
❌ Unlike other cryptocurrency exchanges, Coinbase comes with high trading as well as transactional fees.
❌ Not ideal for traders and investors who are interested in using external storage wallets.
❌ Does not support crypto futures or margin accounts.
Founded as RetailFX in 2007, eToro is one of the pioneer multi-exchange brokerages globally. eToro operates in more than 140 countries worldwide.
As of June 2021, there are more than 23 million registered users on eToro. What’s more, eToro is one of the largest exchanges by daily volume and has extended its products into crypto trading.
With the performance of Litecoin in the first three quarters of 2021 in hindsight, several crypto traders have asked numerous questions.
Some of the most trending questions are, can I buy Litecoin on eToro, is Litecoin on eToro, what coins are on eToro, how to buy Litecoin on eToro, and is it good to buy crypto on eToro.
Litecoin is available for trading on eToro in addition to Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and others.
Thanks to the growing user base of eToro, a significant sum of LTCs' daily trading volume comes from eToro.
Before, you zoom straight into investing in Litecoin with eToro: let us consider the pros and cons of buying Litecoin with eToro. This will help you make the right decision.
Pros of Buying Litecoin with eToro:
✅ Is well-regulated. eToro is compliant with the rules of the Financial Conduct Authority (FCA) of the United Kingdom, the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investment Commission (ASIC).
✅ Offers a great social trading experience. Beginners can learn from experienced traders through copy trading.
✅ Allows users to experiment with virtual funds on a demo account before risking real funds on a live account.
✅ Seamless account creation process. Register for an account by signing up, go through a verification process, deposit funds, and navigate to the LTC page to make a purchase.
✅ Provides diverse options of depositing and withdrawing (bank transfer, credit/debit cards, and PayPal/Skrill/Neteller/Rapid Transfer/iDEAL).
✅ Offers $50 as a minimum deposit.
✅ It's present on the web as well as on android and iOS mobile devices.
✅ Provides an easy-to-use interface that is ideal for beginners.
❌ Does not support all states in America.
❌ Comes with high non-trading fees.
❌ Comes with account inactivity fees.
❌ Customer Service isn’t good enough and needs improvement.
Check Out: Coinbase vs eToro: Which is Better?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Founded in 2017 by Chanpeng Zhao, Binance has become the largest cryptocurrency exchange by daily trading volume. Binance supports more than 180 countries globally.
In Statista’s updated report on the 100 biggest cryptocurrency exchanges in the world based on 24-hour volume on 14th September 2021, the exchange retained its first position. Binance recorded a day volume of $29.65 billion. The trading volume of Binance on Sunday, 10th October 2021, stood at $43 billion.
This is the primary reason why several cryptocurrency traders and investors with a long-term outlook of the market continue to ask questions regarding the feasibility of buying Litecoin on Binance.
Some of the essential questions being asked are, what is Litecoin Binance, how do I get Litecoin on Binance, the best place to buy Litecoin, should I buy Litecoin on Binance, and is it safe to invest in Litecoin through Binance.
Litecoin Binance is the page that facilitates the buying of LTC. Binance is one of the best places to buy Litecoin. You have to register for an account, go through a verification process to secure your account, and then you can buy, hold, and sell Litecoin and other cryptocurrencies.
Before you embark on investing in Litecoin through Binance, let us look at the pros and cons of Binance.
Pros of Buying Litecoin with Binance:
✅ Supports more than 500 cryptocurrencies.
✅ Accepts debit/credit cards (VISA or MasterCard) as well as direct crypto deposits.
✅ Highly scalable, as it processes approximately 1.4 million orders per second.
✅ Highly secured platform with two-factor authentication (2FA) through hardware security keys.
✅ Offers multi-platform support (website and mobile applications).
✅ Offers highly responsive 24/7 customer service.
✅ Provides low trading fees.
❌ Does not accept online wallets such as Skrill/PayPal/Neteller/iDEAL/Rapid Transfer as PAYMENT METHODS.
❌ The platform is not user-friendly for beginners because of its advancement in the cryptocurrency exchange space.
❌ It is available in the United States with limited cryptocurrencies available for trading.
❌ The corporate structure is not that transparent.
❌ In comparison to other platforms, there are hiccups in the verification process of Binance.
4. Huobi Global
Founded in 2013, Huobi Global is one of the most popular cryptocurrency exchanges globally.
With a daily trading volume of $7.43 billion on 14th September 2021, Huobi Global is a top 10 exchange when daily trading volume is taken into account.
Huobi Global supports more than 130 countries worldwide.
Due to their being one of the oldest cryptocurrency exchanges in the world of decentralized finance, Huobi Global continues to trend on search engine platforms about its ease-of-use, security, as well as customer support.
To be more specific, questions such as how to buy Litecoin on Huobi Global, is Huobi Global trustable, what countries can use Huobi Global, is Litecoin widely accepted, and can I buy crypto on Huobi Global are being asked by millions of people.
LTC has been listed for trading by the exchange. Let us take a look at the pros and cons of Huobi Global that will help you invest in Litecoin safely and securely.
Pros of Buying Litecoin with Huobi Global:
✅ There are more than 308 cryptocurrencies on the exchange.
✅ Available on websites as well as comprehensive mobile applications on iOS and Android.
✅ It’s perfect for crypto trading.
✅ A highly sophisticated platform that is user-friendly.
✅ Security is extremely high.
✅ Relatively lower transaction fees.
✅ Offers educational resources tailored to the needs and interests of beginners as well as experts.
✅ Comes with a strong customer support base that is available in multiple languages.
❌ There is a lengthy procedure when registering for an account.
❌ Does not accept clients from the United States of America.
❌ Does not offer MetaTrader trading platforms.
❌ Highly decentralized (this means it is not regulated and can be a problem if something bad should happen).
❌ The minimum deposit for a USD balance stands at $100 (Not great for beginners with fewer funds to risk).
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The aforementioned exchanges are not the only places to buy Litecoin. If you are looking for more ways to buy Litecoin, these are also good options.
Introduction To The Crypto World
It is extremely surprising that after more than a decade of the existence of cryptocurrencies, millions of people still think all cryptocurrencies are called Bitcoin.
The new financial revolution that has created passive income for millions of people comprises several areas.
Among others, the most important sectors you should prioritize are blockchain technology, cryptocurrency exchanges, digital wallets, decentralized finance, stablecoins, and non-fungible tokens.
Having such knowledge will add invaluable insights to your journey into the whole crypto finance space.
- There are more than 16,000 cryptocurrencies listed on centralized and decentralized exchanges. This means that not all cryptocurrencies are called Bitcoin. One is called Litecoin (LTC) and others come with different names.
- For money to be tagged as successful, it should have six characteristics. One of them is the element of divisibility. Litecoin is divisible; as a result, you do not have to buy 1 LTC. The silver coin is more divisible than the United States Dollar (USD). USD can be divided into two (2) decimal points which are $1.00. On the other hand, Litecoin can be divided into eight (8) decimal points. At $134, if you are unable to purchase a full LTC, buying $100 worth of LTC will give you 0.55453900.
- Litecoin was built on Blockchain Technology. If Litecoin was a transport vehicle, blockchain serves as the road that allows LTC to travel from one user to the other.
- Exchanges such as eToro, Coinbase PRO/Coinbase, Huobi Global, and Binance are independent platforms created purposely for the exchanging of fiat currency like the United States Dollar (USD), Euro (EUR), and Great Britain Pound (GBP) for cryptocurrencies like Litecoin and others.
- Wallets such as 1.1 Ledger Nano S, 1.2 Trezor Model One, Atomic Wallet, 2.1 Litecoin Core, 2.2 Exodus, Coinbase Wallet, and Trust Wallet are specially created software that facilitates access to the Litecoin blockchain. They are used to transfer and store Litecoin and other digital assets securely.
As you learn more about the terminologies associated with cryptocurrencies, you will find several ways on how to buy Litecoin. Always remember that the most important question you should hold in mind is, where can I buy Litecoin?
With extensive insights into the space, you will realize that the best places to buy Litecoin normally depend on where you reside, as well as your preferences.
Read Also: Six Reasons Why Litecoin Has Intrinsic Value
Finding The Right Site For Your Needs
There are hundreds of exchanges that provide numerous ways to buy Litecoin. Although they perform the same functions, they differ in features. This is why you should factor into account essential features of exchanges before you settle on one.
Before Trading Education reveals how to invest in Litecoin based on your needs, you must know what YOU want to have a successful crypto investing career.
As an e-learning organization, we can understand that some traders want to remain anonymous. With that said, there have been several instances where shadow companies behind some exchanges have taken off with the hard-earned money of innocent people.
This is the primary reason why we recommend choosing exchanges required by law to accept users who comply with anti-money laundering (AML) and Knowing Your Customer (KYC) requirements.
Once you fully verify your identity through the necessary identification card and documents, you can hold an exchange accountable if there is a problem with your account.
Although an exchange may be one of the best ways to buy Litecoin, it may not prioritize verification. Please, choose exchanges that will confirm the identity of the person behind the personal computer or mobile phone.
This is an important part of trading cryptocurrencies. Depending on the amount of money you have set up to risk, you need to identify exchanges with little or no trading fees so that you can experiment with digital assets freely.
If you are looking for the cheapest way to buy Litecoin versus the fastest way to buy Litecoin, then fees will come into effect. Check if an exchange requires deposit and withdrawal fees (if so, how much?) before you decide on investing in Litecoin with them.
3. Ease of use
Some exchanges are user-friendly but may not be beginner-friendly. As an educational platform, we recommend choosing exchanges that have an easy-to-navigate interface for beginners and experts, have a smooth verification process, as well as a responsive customer service.
4. Payment methods
Do you know that you can buy Litecoin with a credit and debit card? Do you know you can buy Litecoin directly through online money wallets PayPal and Skrill?
Aside from these two, you can also buy Litecoin through bank transfers as well as cash. Every exchange comes with different payment methods. Choose an exchange that has your preferred deposit and withdrawal methods and you will surely enjoy the platform as one of the best ways to buy Litecoin.
5. Regulatory compliance
Do you know that there are more than 400 exchanges on the market at the time of writing this article? Do you know that less than 20% are regulated with the necessary licenses and certifications? Therefore, if you happen to find an exchange that asks you for a government-issued identification card and proof of residence, you should know that you are on a secured platform.
If you ever get a chance to meet victims of identity theft or those swindled out of their hard-earned money, you will know the importance of choosing a secure platform. It would be in your interest to find exchanges that offer two-factor authentication (2FA) and other security features that can safely hold your coins.
When we talk about limits, the essential aspect of limits you should take into account is withdrawals. Some exchanges will allow you to deposit funds without fully verifying your account. Once you make gains and issue a withdrawal order, you are then subjected to an extensive verification process.
Always ask the question, does this exchange have withdrawal limits (and if so, how much?). This will ease your trading and investing in Litecoin needs.
Without money, issuing a buy or sell order will take hours to be executed. Trading Volumes play an essential role in the success of an exchange. Choosing exchanges with huge liquidity means you will be able to buy and sell a high amount of Litecoin at relatively better, even, and fair prices.
Many traders complain of slippage (this is where the price of execution differs from the price ordered). Trading Education recommends choosing an exchange that processes at least thousands and if possible millions of transactions per second. This will help prevent you from waiting for Litecoin's order to execute when volatility could set in anytime.
10. Are your funds insured?
In a world of unpredictability, having some form of insurance is extremely vital in protecting your holdings. In the event an exchange is compromised due to cyber security threats, you must be indemnified. Choose an exchange that protects you when deciding where to buy Litecoin online.
Gone are the days where checking for an exchange’s reputation took days, weeks, and months.
In the modern world, thanks to the introduction of smartphones and the availability of the internet, you are few clicks away from finding reviews on a particular exchange.
Look out for the pros and cons of the reviews. This will give you an insight as to whether to accept or reject an exchange in your quest to finding the best place to buy Litecoin.
12. Customer service
Whatever happens, you will need resourceful people to answer your questions. You must find out supporting languages, response times, and the level of feedback received. This will be highly invaluable when wondering where to buy Litecoin.
Some exchanges may be very popular because of the awesome services they provide, but they may NOT support your country. Go through a list of countries your preferred exchange supports. Once you find the name of your geographical location on the list, you have one of the best ways to buy Litecoin.
There are more than 400 exchanges from which you can buy Litecoin. In the end, you should follow reason rather than emotion and choose an exchange that supports your country as well as your preferences.
Don't Miss: 15 Reasons Why You Should Invest in Litecoin
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Payment Methods Compared
When investing in Litecoin, there is nothing like a one-size-fits-all approach. Below is a list of payment methods to help you determine which one fits your needs best.
Credit/Debit Cards ─ Investing in Litecoin using a credit card is easy and fast. You can buy Litecoin directly with these cards on several cryptocurrency exchanges. Keep in mind that to prevent fraud, you cannot buy LTC with your relative’s card. Moreover, certain exchanges charge fees for depositing with cards. Know the fees before deciding on investing in Litecoin with credit/debit cards.
Bank Transfers ─ Buying LTC through this process is slow because of the numerous verification processes but very safe. You can also save on fees on several exchanges.
Cash ─ This is the only way you can buy Litecoin anonymously. You can buy Litecoin with cash on Bit2Me and Litecoin ATMs. Fees on the diverse ATMs are different and most of them are uninsured.
Online Finance Wallets ─ You can deposit through PayPal, Skrill, Neteller, and others. PayPal is the most popular online financial wallet. PayPal is one of the easiest ways to buy Litecoin – even easier than your credit card. On exchanges such as eToro, you can deposit funds through PayPal without paying any fees.
The Cheapest Place to Buy Litecoin
eToro is the cheapest place to buy Litecoin on our list. Aside from eToro, Binance, Gemini, and Coinbase are some of the cheapest places to buy Litecoin.
Due to the simplicity, authenticity, and ease of use of their platforms, you can buy a high number of LTCs at relatively lower fees.
What’s more, Skrill and PayPal also support the buying, selling, and holding of Litecoin and other cryptocurrencies. For example, buying 1 LTC on Skrill costs less than $3 (which is less than 10% of the asking price).
The Safest Way To Buy Litecoin
Having researched extensively about the best ways to buy Litecoin, Trading Education believes that Binance, Huobi Global, Coinbase Pro/Coinbase, Crypto.com, OKCoin, and Gemini among others are some of the safest ways to buy Litecoin.
With that said, we believe that based on security, user experience, and longevity in the centralized and decentralized finance space, eToro (2007) and Coinbase (2012) are the safest ways to buy Litecoin.
The two exchanges are highly regulated and prioritize the Knowing Your Customer (KYC) phase of account registration. They also make provision for two-factor authentication (2FA) where an account holder provides at least 1 way of proving ownership of a particular account.
As a result, you can embark on trading and investing in Litecoin without worrying about cybersecurity threats.
The Easiest Way To Buy Litecoin
The easiest way to buy Litecoin is eToro. Before you can buy Litecoin, you must register to become an account holder on exchanges.
Fortunately, eToro has a registration process that is relatively faster than competing exchanges.
Once you are done with having a fully verified account, you can make free deposits from the numerous payment methods the exchange supports.
From then, you can navigate to the Litecoin Page and buy any amount of coins that meet your budget.
If you are a verified Skrill Wallet holder, Skrill is one of the easiest ways to buy Litecoin.
With fiat currency in the form of United States Dollar (USD), Euro (€), and Great British Pound (GBP), you can buy Litecoin in less than 10 seconds.
The Fastest Way To Buy Litecoin
There are several fast ways to buy Litecoin. You can buy Litecoin quickly on these cryptocurrency exchanges (eToro, Coinbase, Binance, and Huobi Global).
This is because they are available on the web as well as on applications through iOS and Android mobile devices.
You can also buy Litecoin fast on online financial services companies Skrill and PayPal so long as you are a verified wallet holder.
The last option which is the anonymous way of buying Litecoin fast is through Litecoin ATMs. All you have to do is to walk up to the Litecoin ATM, insert fiat currency (cash), and make a purchase of your LTC.
How Do I Buy Litecoin Near Me?
Litecoin ATMs (LTMs) are popping up across several cities in the United States and few countries worldwide.
The easiest way to find them is by finding the nearest LTC ATM locations on Pay Depot, Crypitimi, Local Coin ATM, and Steemit.
You must know that certain Litecoin ATMs do require identity verification.
Embark on an extensive study of LTMs before deciding on risking your money with one.
Best Ways to Buy Litecoin Anonymously
The best way to buy Litecoin anonymously is through ATMs that operate without requiring identity verification.
Around 2016, there were numerous ways you could’ve bought Litecoin anonymously.
Unfortunately, because of the numerous controversies surrounding the use of all forms of cryptocurrencies, a global crackdown by numerous regulatory bodies has taken place.
This has led several cryptocurrency exchanges to enforce Knowing Your Customer (KYC) and Anti-Money Laundering (AML) laws on most Litecoin buying platforms.
Despite the pain involved in walking to a particular location, the best way to buy Litecoin anonymously is through Litecoin ATMs.
Best Ways to Buy Litecoin With PayPal
eToro is the best way to buy Litecoin with PayPal. This is because eToro lists PayPal as a payment method. You can deposit huge amounts of money while paying $0 in deposit fees.
Since PayPal conducts an extensive verification process and has more than 300 million users, buying Litecoin with PayPal is an excellent option. Probably, the best way to buy Litecoin may be through PayPal.
Best Place To Buy Litecoin With a Credit/Debit Card
The best place to buy Litecoin with a credit/debit card is to find a platform that is convenient to use, has acceptable fees and has excellent security.
One of the best places to buy Litecoin with a credit card is through eToro.
Another place to buy Litecoin with a credit card is through Binance.
Coinbase offers competitive fees and it's one of the best places to buy Litecoin.
If you want to stay anonymous, one of the best places to buy Litecoin with a credit/debit card is through local Litecoin ATMs.
Online financial services companies (Skrill and PayPal) are also one of the best places to buy Litecoin with a credit/debit card.
Best Ways To Buy Litecoin With Your Bank Account
There are several best ways to buy Litecoin with your bank account. Some of the best ways to buy Litecoin with your bank account Trading Education recommends are eToro and Coinbase.
Using a bank account to buy any cryptocurrency involves a lengthy process of verification.
Since the two exchanges are known for adhering to AML and KYC rules, they are the best ways to buy Litecoin with your bank account.
How To Buy More Cryptocurrencies, Or ‘Altcoins’
Most of the platforms that allow you to buy Litecoin with fiat support a limited number of cryptocurrencies.
If you want to enjoy your cryptocurrency journey, you will have to use exchanges that allow you to trade your Litecoin for other digital assets.
One of the exchanges that will allow you to buy more cryptocurrencies is Crypto.com.
Crypto.com is not only one of the best exchanges; it is also one of the largest in terms of popularity and daily trading volume.
Some of the questions that normally trends include but are not limited to, can you buy Litecoin on Crypto.com, is crypto.com a good place to buy crypto, and what is the best way to buy Litecoin?
Pros of Buying Litecoin with Crypto.com:
✅ Supports more than 100 cryptocurrencies including Litecoin.
✅ Offers low fees.
✅ Provides an opportunity to earn interest in your cryptocurrency holdings.
✅ You can use a VISA Card and get cashback rewards.
✅ It’s highly secured with the necessary encryptions to protect your funds.
❌ The platform is difficult to navigate for beginners.
❌ The coins aren’t available to every country the exchange supports.
❌ There is a lack of educational resources to guide traders.
❌ Customer Support must be improved.
See You On The Other Side!
We have finally reached the conclusive stages of this article. You have gained extensive insights into a full and comprehensive list of the best ways to buy Litecoin in 2023, as per your preferences.
eToro – Best Platform To Buy Litecoin
eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.
Should I Consider Buying Litecoin?
Yes! Litecoin is one of the cryptocurrencies you should consider buying. You can buy a small part of the coin and see where it can take you as per your investment goals.
This will help you learn more about the possibilities of the Litecoin blockchain as well as the coin’s potential in the market.
How to Buy Litecoin Legally?
As long as one of eToro, Binance, Coinbase, Huobi Global, Skrill Crypto, and PayPal Crypto support your country, you can buy Litecoin legally anywhere on the globe.
What Are The Safest Sites To Buy Litecoin?
The safest sites to buy Litecoin are those that require you to complete AML and KYC which proves your identity.
If you find exchanges that do this, you should know they are adhering to governmental laws. The safest sites to buy Litecoin are eToro, Binance, and Coinbase,
What Is The Cheapest Way To Buy Litecoin?
The cheapest way to buy Litecoin is through eToro. This is because you deposit funds without paying any fees. Therefore, you can upload more funds and buy more LTC