You can instantly buy or sell digital currency by paying using a debit card, credit card, or bank account transfer. The exchange also offers leveraged trading and access to crypto futures, thereby allowing traders to buy cryptos bigger than their wallet balances. Most platforms support bank transfers and credit/debit card payments. For additional options, you can also check out exchanges offering PayPal and other e-wallets. This means that by buying Litecoin in the UK from an exchange, your money is at risk.
This is a huge advantage, as not all crypto brokers support credit card payments. Also, some credit card issuers may classify Litecoin as a “cash advance,” which could require you to pay a cash advance fee before you complete the transaction. Speaking with your credit card issuer before trying out this option is advisable. After that, the cryptocurrency suffered extensively from the crypto market crash and lost its value following Bitcoin and many other cryptocurrencies. LTC’s price continued to decrease over the second half of 2022, and for a time, it was even traded below $50. To buy Litecoin, you’ll need a reliable cryptocurrency exchange.
How to Keep Litecoin Safely
Litecoin’s halving event takes place every four years, and it reduces the supply of the coin by 50%. This is why many investors anticipate that the halving event will positively affect Litecoin’s price, as it will create scarcity for the coin. Designed to be a faster and cheaper alternative to Bitcoin, https://www.tokenexus.com/ Litecoin launched in 2013 at a price of slightly over $4. Litecoin’s value skyrocketed in 2017 until, eventually, it hit an all-time high of $301, increasing by over 7400% compared to its initial price. This is great for traders who want to liquidate their position when making a profit.
This guide on how to buy Litecoin in the UK has discussed investment-related fees throughout. To recap, below we explain the main costs of buying Litecoin online. After all, we noted in the section above that in May 2021, Litecoin breached new all-time highs at $388 per token. However, less than two months later in July 2021, the same digital currency is trading at just $142. Firstly, in comparison to its high of $388, this represents a discount of 51%. If you were to head over to cryptocurrency data platform CoinMarketCap – you will see that there are now more than 10,000 digital tokens in existence.
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Navigate to your account’s explore or discover page and search for Litecoin. You may see tickers like LTC/GBP or LTC-USDT, depending on the platform. Purchase Litecoin directly using a funding method of your choice or with your account balance. Have you found any other interesting ways to purchase Litecoins?
- Let’s take a look at a few of the advantages of the Litecoin network and technology.
- Users can be confident in eToro’s strong security features, such as cold storage and SSL encryption, as well as the fact that the platform is regulated by the FCA.
- In other words, had you invested just £500 into Litecoin just a decade ago, your money would have been over £55,000 when it peaked in 2018.
- If you’re looking for a reliable, user-friendly platform to buy Litecoin in the UK, eToro is definitely worth checking out.
- Because supply is capped, the value of coins could grow over time as demand increases.
- Traders should be prepared for potential losses and carefully manage their risks.
Whether you’re a beginner or an experienced investor, the UK offers a range of options to enter the Litecoin market and participate in the cryptocurrency revolution. Apart from its protection measures that safeguard your personal and financial information, it also offers other benefits, such as low fees and fast processing times. Credit or debit card payment is one of the effortless ways to buy LTC and other cryptocurrencies in a fast and secure manner. With Changelly, you can use a Visa or a Mastercard credit card issued in your local currency.
eToro Crypto Wallet
However, new tools deployed by crypto forensic firms like Chainalysis now make it possible for law enforcement to uncover anonymity from the blockchain. All digital currencies use blockchain technology, and the underlying framework of this solution rides on transparency, meaning all transactions are open to public scrutiny. So your Litecoin transactions how to buy litecoin will be shared and traceable by everyone worldwide. So if you are uncomfortable with this, you should reconsider buying Litecoin. While most of the major cryptocurrencies set new all-time highs in November 2021, Litecoin could not do the same. Peaking at $250, LTC entered the bearish market and closed the year with a price of $146.
To go through the relevant investment page, enter ‘Litecoin’ into the search box. With that being said, there is a slight negative with Coinbase, insofar that its fees are on the high side. For example, the platform has a standard commission rate of 1.49%. You will need to pay this when you buy Litecoin and again when you cash out.