How to buy Litecoin (LTC) – A Beginner’s Guide

Litecoin is one of the top-selling digital currencies and has been around for a few years. Their founder was computer scientist Charlie Lee and he still remains involved in the project.

Want to buy Litecoin online quickly? That’s great, and at Cex.io you can find all the resources you need to do just that – without needing to worry about the risks and challenges of owning cryptocurrencies in general.

In this guide, we’ll show you the practices and techniques used by investors who buy Litecoin.

When looking to buy Litecoin, it’s important to know some of the fees that might be associated with the purchase. We discuss how these fees affect investing Litecoin online and key metrics to find a good online broker.

How To Buy Litecoin (LTC) In 4 Easy Steps

To buy Litecoin LTC, the first step is to open an account at a regulated exchange, deposit funds, select LTC from the trading platform list, and lastly check & confirm that your wallet has been credited with LTC.

We have put together a simple 4-step walkthrough of how to buy Litecoin below:

Step 1: Sign up with a regulated crypto broker.

Step 2: Fund your account.

Step 3: Select Litcoin (LTC) from the list of cryptocurrencies.

Step 4: Decide how much Litecoin you want to purchase.

Step 1: Choose An Online Litecoin (LTC) Broker Or Exchange

Our process starts by opening a brokerage account with an exchange. This will allow you to purchase different currencies from the comfort of your home without having to leave.

If you decide to sign up with the aforementioned crypto platform eToro. You are able to buy Litecoin directly through the platform. Furthermore, the broker is regulated by multiple regulatory bodies.

Despite their advantages, unregulated exchanges may lead to unnecessary risks. Other aspects of your business should be given priority.

eToro is regulated by multiple authorities. So you can buy Litecoin with complete confidence.

Regulation

Regulation is a major issue. When it comes to choosing the right broker. When you’re dealing with cryptocurrencies, fraud and financial sharks are always a concern. You want to ensure that your finances are taken care of and you’re protected in the event anything does go wrong.

Although there are some unregulated brokers and third-party exchanges. That will offer you leverage with Litecoin. We would still recommend staying away from those options.

Payment Methods

Today, more and more companies have adopted it. The use of online brokers to accept payment options. Since they are new and revolutionary, there is a wide selection of accepted methods at them.

In the early days, wire transfer via an unregulated third-party crypto exchange was often the only option to buy Litecoin. This process sometimes took weeks to go through.

As we said, you shouldn’t struggle to find your preferred payment method nowadays. Crypto platform eToro is compatible with credit and debit cards, as well as PayPal, Skrill, and Neteller.

All of the aforementioned payment types are secure and complicated systems. But can also make it difficult to switch your account over if you change your mind.

Fees and Commissions

Litecoin is the number one cryptocurrency on Earth, followed by Bitcoin. It’s designed to improve and evolve. The techniques are currently being used in other currencies, like Bitcoin. So, using it to buy Litecoin is an incredibly easy decision right now.

Coinbase charges a trading fee of 1.49% on every single trade. Which is between five and ten different trades for every 100. The best strategy is to focus on their cryptocurrency wallet function and research.

The top cryptocurrencies to find the one which suits your goals best. If you are looking to make a bigger return than that given by Coinbase. You can consider putting investments elsewhere.

Let’s have a look at a straightforward example of how this commission fee would affect your potential profits when you buy Litecoin online:

• You place a $1,000 buy order on Litecoin
• Coinbase charges commission of $14.90 ($1,000 x 1.49%)
• At the time of selling your LTC coins, they are worth $2,000
• Again you pay 1.49%, which is $29.80
• Altogether, you paid a total of $44.70 in commission fees

1.49% might seem like a small amount, but these fees quickly add up and can eat at your profits in the long run. If you had opted to buy Litecoin via eToro, you would have saved yourself $44.70 – as the crypto broker is commission-free.

On top of some fees, you’ll need to pay Coinbase service fees. That vary depending on how much you buy. If you were to purchase 500 Bitcoins with a $500 multiplier. The total fee would be $19.95.

Etoro also offers extremely low fees and has a separate US dollar account where currency conversion fees are not applicable.

Other Important Factors

As we’ve mentioned before, depending on the payment method one uses for Litecoin might affect the value. So it is wise to consider these factors when purchasing. Other brokers have emerged with different options.

There are, however, a few other factors to be mindful of when selecting an online crypto broker.

• User-friendliness: Creating orders and buying Litecoin at your online broker should be easy. This ensures you can deal with the process efficiently while maintaining operational time.
• Minimum Investment: Although we believe that minimally-invested crypto platform order preferences are a must. We do not want inexperienced traders to compromise the safety of their portfolios by investing. Without looking into if they can afford the smallest level of risk. Before you sign up for an account on the eToro platform. We recommend checking what your minimum investment is. The platform enables you to invest in a wide range of cryptocurrencies, the latest being Litecoin. Now anyone can buy cryptocurrency and reap the benefits of blockchain technology.
• Storage: Understand what types of wallets the cryptocurrency you want to store on the exchange supports before signing up. Since unregulated exchanges typically don’t offer this info. There is a chance your funds may be lost or locked if you don’t take responsibility for them yourself. Say goodbye to having to store your cryptocurrency on a computer or paper wallet – eToro’s Litecoin option is a safe & the secure way to maintain your currency.

Step 2: Come Up With An Investment Plan

When considering how to get started investing in Litecoin, it’s important to consider the best ways to move forward. Here are a few tips and tricks we use during each stage of our crypto journey:

This makes sense considering that cryptocurrency is a volatile market. Crypto investors or beginners, in general. Will not see much of a difference in the quality of content delivered by AI writers because of the similarities in text. Below are some ideas for creating your own investment plan for Litecoin.

Long-Term or Short-Term

It’s good to consider whether you think you’ll want to remain a long-term or short-term LiteCoin investor.

Short-term crypto investors are taking advantage of the changing price patterns of Litecoin to make a quick profit at a regular amount. Setting up your investments to buy and sell on a specific timeline depends on how well you perform.

The market for digital currencies is volatile leading to large shifts in price within hours. Although most people have an interest in cryptocurrency. It’s difficult to make a true profit by investing in them. The biggest returns are likely only for those willing to take the riskiest approach.

Target Litecoin Price

The price of Litecoin has dipped and fluctuated. Greatly in recent months due to the increased interest in cryptocurrency. This can create a lot of potential profits for those. Who is able to predict these movements?

If you tripled the original investment in Litecoin, it would need to increase to $600. This shows how volatile crypto markets are.

Litecoin was at its all-time lowest price of $1.11 USD in 2015. Just two years later the popular cryptocurrency had reached an all-time high of $375.29 USD. Now that this stock has hit $412.96, you might be wondering if people who invested back in 2015 made a solid profit. Well, it appears that they did! This makes sense given the “rapid climb” from 50 to 412.

Consider Regular Investments

We’ve illustrated how the price of Litecoin goes up and down with speculation. Lately, it’s been sliding, and we recommend considering investing a small amount, on a regular basis, to avoid financial loss.

It is tough to make money in any market, but the commodities market is particularly volatile. That’s why it’s important to be optimistic. When trading and sticking closely to a budget.

Do not gamble more than you can afford to lose and If you do decide to buy Litecoin, purchase small amounts regularly. It is a tried and tested strategy used by everyone. For beginner traders, investing in cryptocurrencies is a great way to gradually add to your portfolio.

Cryptocurrencies don’t see huge swings in value. Which makes them a convenient way to weather market fluctuations and secure the gains of trading up and down. With eToro, it’s easy for beginners to buy Litecoin for as little as $25- meaning you can put your.

Step 3: Open A Litecoin (LTC) Broker Account

When you’ve found an online brokerage you’re comfortable with. You want to head to the website and sign up. The process at this stage is similar to buying any other asset – be it ETFs, stocks, or silver.

In order to buy Litecoin, you first need to complete the sign-up form which collects your full name, address, email address and telephone number.

The use of regulated crypto brokers is a great idea for your business! Not only do they protect you from scams. But they also help by ensuring that the transactions you complete are legitimate.

You may need to provide documentation from your bank account or utility bill as an address verification document. Ensure you meet these guidelines for more secure transactions.

Step 4: Deposit Some Funds

Litecoin can be purchased on most platforms by depositing interesting funds. One way to do so on Coinbase is by using/priming your credit/debit card and sending money to the platform.

Without a doubt, ��credit/debit card or e-wallet purchase ��is the fastest and most convenient way to fund your account. Wire transfer is just another slow option that takes time to go through.

eToro is a popular option to invest in cryptocurrencies. There are multiple payment methods, including credit/debit cards, e-wallets, and direct deposits.

When using brokers, be sure to calculate. How much money you’ll need to deposit. Even though the minimum is $200 at eToro. This may be different for other platforms. In either case, it’s well worth checking the budget beforehand.