There you can select one of the LTC markets and see the price indicated in quoted currency. Additionally to the market price, you will also check the price chart, market depth chart, order book, and other useful information to analyze current market conditions. Be aware, however, that using high-interest debt such as credit card balances to buy a risky asset like crypto could deepen your losses if your investments decline. When buying Litecoin, you’ll often have the option of paying in cash or cryptocurrency (though some platforms will only accept cash). Note the terminology of “trading pairs,” which comes up quite often on crypto exchanges.
You can trade Litecoin on spot markets via market and limit orders. Market orders allow you to buy and sell crypto at the best available price in the order book with instant execution. Litecoin has many similarities with Bitcoin since it is also one of the first Bitcoin forks. Like Bitcoin, Litecoin cryptocurrency is predominantly used as a means of payment to conduct international transactions. However, Litecoin differs from Bitcoin in several major aspects.
In the case of LTC/USDT, bitcoins can be converted into Tether, a stablecoin whose value is pegged to the U.S. dollar. Cryptocurrency is volatile, and even though prices can skyrocket, they can come down just as quickly. Don’t make crypto your retirement fund, and definitely don’t use crypto as your emergency fund. A good guideline is to dedicate no more than 5% to 10% of your investment portfolio to cryptocurrencies.
It also trades at a much lower price than Bitcoin, making it a popular alternative. If you want to trade on spot Litecoin markets, you can do it on the Trade page on the CEX.IO website or by selecting the Trade Pro section in the CEX.IO mobile app. Visit the Trade page to see the BTC to USD market by default.
In fact, you’ve probably used this company’s technology in the past few days, even if you’ve never had an account or even heard of the company before. Once you’ve picked a place to buy Litecoin, it’s time to create an account. The process varies by exchange, but there’s usually a button that says “Get started” or “Register” on the home page. A hot wallet is connected to the internet and can be accessed anywhere. This is a useful feature, but it may also mean your assets are more exposed to hackers or thieves.
You can add funds to your CEX.IO account using a credit card and then use one of these options to purchase Litecoin. However, the Instant Buy service also has a unique feature that allows users to pay with a credit card and purchase crypto in a single transaction. It makes the Instant Buy service one of the most convenient and fastest ways to buy Ethereum (ETH), Bitcoin (BTC), Litecoin (LTC), and many other cryptocurrencies. The whole process of purchasing crypto using this service usually takes less than five minutes. Litecoin, a cryptocurrency adapted from Bitcoin to facilitate digital payments, is one of the most widely available digital assets. Many top crypto exchanges and platforms allow users to buy Litecoin.
So if you want to use the crypto exchange to buy crypto with a debit card, you could discover the platform provides such services to U.S. customers. When you use Instant Buy to buy litecoins with your local currency, you select primary fiat currency in the dropdown list next to the list of supported cryptocurrencies. You can use this method not only for purchasing Litecoin instantly with a card issued in your local currency but for purchasing other cryptocurrencies as well. For example, you can buy Dogecoin with a credit card in your local currency, making a single transaction via the Instant Buy service. For instance, CEX.IO serves U.S. residents in 49 states and Washington DC (New York is not supported).
Should You Buy Litecoin?
With Kraken, users can pair LTC with several fiat currencies, not just the U.S. dollar. You can pair LTC with the euro, the British pound, the Australian dollar, and the Japanese yen, to name a few. Bank account transfers do have one disadvantage, and that’s speed. You typically need to wait several days for the transfer to process and the funds to arrive in your account. The golden rule with Litecoin, and with any cryptocurrency, is to only invest what you can afford to lose.
However, you will easily find all available LTC markets using a search field or filters. Litecoin is one of the oldest cryptocurrencies, it has gained significant support from the crypto community, and has one of the highest adoption rates among merchants. Litecoin is usually described as one of the most popular Bitcoin forks ever. Litecoin pioneered such technologies as Lightning Network and Segregated Witness which were then adopted by Bitcoin. While there are other options, such as receiving Litecoin as payment or mining Litecoin, these are likely to require more legwork for a first-time buyer.
While the major exchanges have insurance against hacking events and such, you might opt to store your Litecoin in one of these offline wallets. Once you’ve funded your account, you’re ready to make your first Litecoin purchase. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
More broadly, there are thousands of cryptocurrencies, all competing for the same investor dollars. And beyond crypto, there are many other investments such as stocks, bonds or real estate that you might want to consider. Many other cryptocurrencies are working on payment methods as well, and merchants that accept Litecoin may also take cryptos such as Bitcoin. If you decide to invest in Litecoin, you should have a well-thought-out idea of why you think it will grow in value long term. If you want to use it for payment, it’s a good idea to consider where you can spend it and why you view it as superior to traditional currency and other cryptos. Before you invest your money, know the risks of cryptocurrency and keep your investment to a small amount of your net worth.
Examples are hypothetical, and we encourage you to seek personalized advice from qualified professionals regarding specific investment issues. Our estimates are based on past market performance, and past performance is not a guarantee of future performance. One final thing you may want to do is look into crypto wallets where you can store it. Many investors keep their crypto on the exchange where they bought it, but transferring it to a crypto wallet is a good way to have extra security.
For example, if Litecoin is trading at $100 and you want to invest $50, you’ll own 0.5 LTC. Sign up today for Stock Advisor and get access to our exclusive report where you can get the full scoop on this company and its upside as a long-term investment. Learn more and get started today with a special new member discount. Usually, all you have to do is look up the asset you’d like to purchase, type in the amount you want and confirm your transaction. Exchanges have done a lot of work to make buying crypto easy.
Each way has its own pros and cons but centralized crypto exchanges established themselves as one of the most popular and convenient options to purchase cryptocurrency. On centralized crypto exchanges, you can buy bitcoin with a credit card or use other fiat payment methods. In addition, each crypto exchange has its own set of supported digital assets, fiat currencies, and payment options.
Your local currency will be converted based on your bank conversion rates and the purchased amount of crypto will appear in your CEX.IO balance. These products store your private keys, similar to passwords, that allow you to spend or move your assets around. If you only want to store Litecoin, and not multiple cryptocurrencies, a Litecoin-specific wallet could be a good fit.
How to buy Litecoin on bitFlyer
If you consider purchasing LTC, make sure to do your own research towards current market conditions and further Litecoin potential. Like many other cryptocurrencies, Litecoin is a volatile asset, so entry points and time of purchase remain important for short and long-term investors. To see options that check all these boxes, review the best cryptocurrency apps and exchanges. With CEX.IO, you can buy BNB, LTC, BTC, and 100+ other cryptocurrencies using your bank card issued in your local currency. For that, you first need to select the primary currency for the transaction from the list of supported fiat currencies on CEX.IO.
- For example, you could buy $250 of Litecoin every two weeks or every month.
- If you’re using a payment or Litecoin-specific app, you can fund your account by linking a bank account or debit card.
- In fact, you’ve probably used this company’s technology in the past few days, even if you’ve never had an account or even heard of the company before.
- Experts suggest limiting your investment to a small fraction of your net worth in cryptocurrencies, including Litecoin.
- If you only want to store Litecoin, and not multiple cryptocurrencies, a Litecoin-specific wallet could be a good fit.
Litecoin is often called “the silver to Bitcoin’s gold,” although it’s a completely separate cryptocurrency. Lyle is a writer specializing in credit cards, travel rewards programs, and banking. His work has also appeared on MSN Money, USA Today, and Yahoo! Finance. Once the money is available, choose the “Buy” option and select Litecoin. Enter the amount you want to buy and review the transaction preview to see the fees and how much Litecoin you’ll get.
One more feature you might want to consider is cryptocurrency selection. It’s not a big deal if you’re only interested in Litecoin, because that’s available at most exchanges. But if you think you’ll want to invest in smaller coins in the future, then cryptocurrency selection is important when choosing an exchange. With CEX.IO mobile app, you can monitor your crypto portfolio anytime and buy cryptocurrency on the go. Using CEX.IO mobile app you will get access to some exclusive services that could expand your crypto experience. After that, enter the amount in the selected primary currency and confirm the transaction.
Best Crypto Wallets of May 2023
If you’re satisfied with everything, confirm the transaction. Until you’ve done this, you either won’t be able to buy crypto, or you’ll only be able to buy a small amount before hitting your account’s limit. If you’ve researched Litecoin, think it’s a smart investment, and want to get some of your own, then it’s time to learn how to buy it. There are many ways to purchase crypto, but there are also plenty of scams out there. A potential complexity of trading in crypto is that these assets may change in value at different rates. The amount of Litecoin you can get in exchange for a certain amount of Bitcoin, for instance, may change from day to day.
Most of the popular crypto exchanges have built-in digital wallets where you can store your Litecoin and other crypto purchases. Some folks prefer to store their crypto in a separate digital wallet that’s not linked to the internet to help keep their crypto safe from hackers. Once you decide on an app or exchange for buying Litecoin, you’ll have to determine how to fund your purchase. If you’re using a payment or Litecoin-specific app, you can fund your account by linking a bank account or debit card.
We use advanced security technologies to provide users with a safe place to trade and store cryptocurrencies. For example, we use cold wallets to keep customers’ holdings while keeping company funds on hot wallets to support constant transactions flow. Find out more about the security of clients’ funds on CEX.IO in our article. Selecting the best place to buy LTC online in the USA largely depends on the preferred payment option and supported services.
The most common way to buy crypto is through an exchange, such as Coinbase or Gemini. Several investing and payment apps also sell crypto, including Cash App, PayPal, and Venmo. As you shop around for where you’ll buy Litecoin, here’s what to look for.