Have you ever wondered if Bitcoin is the ‘Digital Gold’ what could be the ‘Digital Silver?’ It is Litecoin, one of the first altcoins to launch in 2011, after the creation of Bitcoin.

With an active development community, Litecoin introduced most of the updates that were later adopted by the Bitcoin network. It is accepted by several online merchants like Newegg and Sheetz for payments. If you would like to invest in this coin and are confused about where and how to buy Litecoin, this article is for you.

Where to Buy Litecoin (LTC)?

You can buy Litecoin on crypto exchange platforms like Binance, Coinbase, Kraken, etc. If you are more concerned about online scams, you can even choose a Ledger hardware wallet and buy Litecoin on the Ledger Live application. Let us look at some of the popular platforms to buy Litecoin.

Coinbase

Being one of the most popular and reliable crypto exchanges, Coinbase is the best option for you to buy Litecoin. While buying Litecoin, you can use the ACH payment mode to avoid deposit fees. But, it may take a while to execute these transactions.

It has two trading platforms, Coinbase for beginners and Coinbase Pro for professional traders. You can select either of the platforms to buy LTC based on your experience with crypto trading.

Binance

Being the largest crypto exchange in the world, Binance can help you acquire Litecoin tokens within a few simple steps. Apart from offering crypto trading services, Binance has many features like a staking program, Binance Earn, a Visa Debit card, etc. For buying Litecoin or any other crypto, Binance doesn’t charge any deposit fees. But, you would need to pay a flat fee for withdrawal to cover transaction costs.

Ledger

To buy Litecoin using Ledger, first, you would have to buy any version of Ledger hardware wallet. Ledger hardware wallets are known for high-security features as they store cryptocurrencies offline.

You can purchase Litecoin directly on the Ledger Live application through Coinify. When you buy Litecoin on the Ledger Live app, it automatically goes to your hardware wallet. This way, Ledger allows you to buy not just Litecoin but many other cryptocurrencies directly through its wallet.

How to Buy Litecoin (LTC) in 2023?

Choose a crypto exchange platform

Before buying Litecoin, you must choose a platform based on how you are going to use the cryptocurrency. You can buy Litecoin through online payment gateways like Venmo and PayPal. But, it is best you use Litecoin-specific applications if you would like to use it for online payments.

A crypto exchange platform is suitable if you are buying Litecoin as an investment. But, you must consider the features, accessibility, fee structure, and security practices of a platform before proceeding to use that crypto exchange. If security is your priority, then hardware wallets like Ledger would be a good choice for you.

Add money to your account

The next step is to add money to your exchange account. Here, you should consider all the payment modes supported by the crypto exchange. Best crypto exchanges like Binance and Coinbase usually support bank transfers, Credit and debit cards, and online payments.

Some crypto exchanges mandate the users complete the identity verification process before adding funds and buying crypto. This step is crucial because it ensures that you comply with KYC and AML guidelines and wouldn’t get into any trouble in the future. You would have to upload identity documents and address proofs and follow the instructions of the platform to complete verification.

Buy and store Litecoin (LTC)

Now, you can enter the payment details and the amount of Litecoin you would like to purchase. No matter the platform you use, you can enter either the no. of Litecoins or the amount you would like to invest in Litecoin. Verify all the details and confirm the transaction to buy Litecoin.

It is your choice to decide whether you store Litecoin on your exchange platform or transfer it to a more secure crypto wallet. If you frequently use your Litecoins, you should store them in any software or exchange wallet. If storing them for the long term is your priority, you can transfer and store the coins in a hardware wallet.

Conclusion

Since Litecoin is a popular cryptocurrency, you can access and buy it on many platforms. From crypto exchanges like Binance and eToro to hardware wallets and Litecoin-specific applications, many platforms allow you to buy Litecoins.

Choose a platform based on your preferences to invest in what is known as Digital Silver. And, don’t forget to prioritize security when it comes to storing your Litecoins!

Frequently Asked Questions (FAQs)