How to Buy Litecoin in 2019 | Step-by Step Beginner's Guide

Anisa Batabyal
| 04 July, 2019 | 2 min

How To Buy Litecoin

Litecoin is one of the earliest forks of Bitcoin, that has gained great social adoption. It was founded by Charlie Lee in 2011, as a result, of getting rid of the scalability issues experienced by Bitcoin. Moreover, the Litecoin Network processes block much faster than that of Bitcoin. Booth uses Proof of Work (PoW) algorithm, but there’s a slight difference. While Bitcoin uses SHA256 hashing algorithm, Litecoin uses Scrypt algorithm. In other words, Litecoin is an improved version of Bitcoin.

How To Buy Litecoin With USD

There is an easy way to buy Litecoin with USD, which you can do by going straight to the CoinSwitch page. After that, click on the “buy with credit card” option, which will take you to the next page. CoinSwitch is partnered with Simplex for implementing this specific feature, where you can experience seamless transaction when you want to buy Litecoin and other coins like Bitcoin, XRP, BCH, and ETH. You can buy with the most popular fiat currencies like USD or EURO. 

You need to remember some basic guidelines- If you are a first time user, your maximum limit for a day can be somewhere between $50 to $10,000. Once your first time is done, your daily limit exceeds to $20,000 and your monthly limit becomes $50,000. There are other perks of using CoinSwitch portal, like getting 24/7 support and getting query solution as and whenever needed.

You can follow these steps in order to buy Litecoin with USD:

#1 Sign Up

This is the very first step before you go through the entire transaction while buying LTC with USD. It is highly recommended for you to finish off with the sign-up process to avoid unnecessary interruptions while checking out. You can check out the offers and the process before signing up, as its comparatively easy.

#2 Providing With The Necessary Details

In this step, you have to provide with the needed information such as the Litecoin address after which you need to give the credit card details. This is a very crucial step and you should rest assured that none of your details will be leaked, as every exchange maintains its privacy policies.

#3 Know Your Customer (KYC)

As the name suggests, you need to provide with some of the basic details, along with your ID card and a photograph. Make sure that the ID proof has not expired, otherwise, it might lead to difficulties in the check out process. Once the verification is done, you are all set to make the transaction.

How To Buy Litecoin With Debit Card

There are various exchanges which support buying Litecoin by a debit card, but you have to ensure that the exchange supports the respective country where you are putting up. As of now, let us discuss some exchanges which support buying Litecoin with a debit card:

#1 Coinbase

Coinbase is considered as one of the largest crypto exchanges in the world, with full of technological innovations and upgrades as required. It is spread across 32 countries across the world. Just that you need to submit a government ID proof in order to do the transaction seamlessly.

Supported Countries: USA, Canada, Europe, United Kingdom, Australia

Pros:

  • The buying limits are high
  • You can buy through debit card instantly.

Cons:

  • The bank transfer might take up to 5 days time frame.

#2 CoinSwitch

CoinSwitch even supports purchasing Litecoin by a debit card, backed by Simplex. You can avail offers at CoinSwitch and can buy Litecoin with a debit card at the most competitive rate. You can use both master card or Visa and can experience very fast transaction process. The processes involved in buying Litecoin remains the same for almost all the exchanges. CoinSwitch supports almost all the countries worldwide, with some exceptions.

How To Buy Litecoin With Credit card

Same as “how to buy Litecoin with USD”

How To Buy Litecoin With With Wire Transfer

Wire transfer is one of the most common methods of buying Litecoin and other cryptocurrencies. Most of the users prefer this method, and there are certain exchanges that support wire transfer purchase of Litecoin. Of which, let us discuss the most prominent one:

CoinGate

CoinGate is one of the popular exchanges that support Litecoin purchase through wire transfer. The sign-up process takes very less time and you just have to select the amount and pay. It supports more than 100 countries across the world. You can even choose the preferred mode of payment.

How To Buy Litecoin With Other Altcoins

CoinSwitch is one such platform that supports more than 400 cryptocurrencies and more than 45,000 crypto pairs. It is a one-stop-solution which caters to all your trading needs.Pairs like ADA to Litecoin, XRP to LTC and many others are supported by CoinSwitch. You can experience seamless transactions at CoinSwitch and can even get 24/7 customer support in case of any queries.

Buy Litecoin now at the best rate and know how to buy Litecoin without any registration at CoinSwitch. Let us understand the steps involved in buying LTC from other altcoins, say ADA, from CoinSwitch:

#1 First you need to go and put the respective altcoin that you are going to exchange Litecoin for. For example, let’s take Cardano as an example:

#2 After this, you can check out the different offers with the different exchanges, compare and choose the best rate, for instance, let’s take SimpleSwap here.

#3 Then you just have to put the Litecoin address of the wallet, where it will be deposited. Post which you can initiate the exchange.

Should You Invest In Litecoin?

Litecoin has been growing rapidly at an exponential rate, which is enabling it to get ahead of its peers and grabbing the spot of the 5th largest cryptocurrency in the world. But before taking any investment or trading decisions, you must go through its 24-hour daily chart, understand its trend, market news covering Litecoin and many more. Litecoin is going to experience its second halving process in August, hence most of the investors are investing in it.

About CoinSwitch

CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like Binance, KuCoin, IDEX, Huobi, Ethfinex, HitBTC and Cryptopia without creating an account on them. If you are interested in buying cryptos, do give it a try!





Buy LTC using credit cards at the best rates
Buy Now
Buy LTC using credit cards at the best rates