Where And How To Buy Litecoin (LTC): A step-by-step guide
Where and How To Buy Litecoin (LTC)?
Litecoin (LTC) has a distinguished pedigree in the crypto world.
The coin was created in 2011 as a faster, more efficient version of Bitcoin with lower transaction fees. The creator was Charlie Lee, whose work at Google included writing portions of Chrome OS. Lee currently heads the Litecoin Foundation.
Like Bitcoin, Litecoin is an open source project. The source code is available under the MIT/X11 license. The code that implements the Litecoin blockchain is the same as Bitcoin’s code, with a few alterations.
Lee says that Litecoin was not intended to compete with Bitcoin, but to coexist as a token for smaller transactions.
Benefits of Litecoin include very low fees, a lively developer and investor community, technical documentation for developers, scalability, and mining.
Curious about where and how to buy Litecoin (LTC)? We can help with that.
Where to buy Litecoin (LTC)
Litecoin is widely available on hundreds or thousands of crypto platforms. Unfortunately, it is precisely the crypto’s widespread availability that makes choosing a platform one of the most difficult tasks when you are figuring out how to buy Litecoin.
Most exchanges, including the decentralized exchanges, or DEXs, that have gained so much attention in the crypto community (not all of it positive), cater to an exclusive audience of crypto experts who have the technical wherewithal to select a wallet, secure hexadecimal cryptographic keys, and interact with the blockchain directly.
That was fine in the early days when crypto was new. But today, more and more everyday people are buying LTC and other cryptocurrencies for the first time. The traditional expert-only platforms don’t provide the security, assistance, or tools that could help novices succeed.
For most users, a large, established exchange is not the best answer to the question of where to buy Litecoin. If you don’t speak Python as your native language, you’d be better off creating an account at a custodial crypto platform like Kriptomat.
Custodial platforms are much easier to use. They provide the current trading Litecoin price and offer an opportunity to make a purchase. If you are new to the blockchain world and you would like to buy LTC coins, Kriptomat is a great choice.
It is true that creating an account is a bit more complicated than simply typing your user name and selecting a password. One way you know that you are working with a reputable crypto exchange is that it will require you to verify your identity by providing an electronic copy of your government-issued passport or other ID. These Know Your Customer (KYC) regulations are required by every business that complies with the anti-money laundering provisions of the EU’s GDPR.
Identity verification can take days at some sites. At Kriptomat, the simple KYC procedures are routinely completed in minutes.
How to buy Litecoin
Once you’ve created and verified your account, you’re ready to focus on the next steps in how to buy LTC.
The fastest and easiest way to buy Litecoin (LTC) is to use a Visa or Mastercard. Select Buy from the menu and follow the prompts – you can purchase LTC in seconds.
If you prefer, you can transfer your investing fund to Kriptomat via bank transfer instead of using a credit card. Or you could choose a cash-transfer service like Skrill or Neteller. Kriptomat accepts deposits in more than a dozen of the most widely used European fiat currencies. Once your deposit shows up in your account, you can follow the menus and make a purchase.
That’s all you need to know. You are now an expert on how to buy LTC.
Choosing where to buy Litecoin is probably the most critical decision you’ll make in the whole process. As you evaluate crypto platforms, be sure to take licensing and regulation, security certification, investment tools, ease of use, and customer support into account.
You don’t get any physical Litecoin coins when you buy LTC online. The coins you purchase are transferred to your electronic address on the blockchain. Kriptomat handles all the details of public key encryption to ensure that your crypto is transferred promptly and remains secure.
Founded in 2018, Kriptomat revolutionized the cryptocurrency world with the introduction of the simplest platform in Europe. Kriptomat makes digital finance so simple that everybody everywhere can access the freedom, fairness, and fulfillment that crypto represents. Hundreds of thousands of customers across Europe and in 120 countries worldwide trust Kriptomat when they buy, sell, swap, earn, share, and invest in crypto.