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It has a strong developer team and a loyal community which makes it a good long-term investment. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services. These platforms have various fees and deposit/withdrawal limits, but they are all within reasonable limits.
One of Kraken’s benefits is that in addition to buying Litecoin in the UK, you can also use this platform to buy a long list of other cryptocurrencies. Investors can make a cash deposit at a bank or just pay cash for a Flexepin voucher that is prepaid. Cryptex24 allows investors to pay for Litecoin in cash over the counter at a money transfer service. Now that we’ve covered the basic framework of how to buy litecoin – it’s time to look at some other options. As you know by now, you buy Litecoin with the anticipation of timing the market. Then, later on, selling your crypto-asset for more than you bought it for – thus making gains.
Today’s Litecoin price versus ATH
After completing these steps, you can begin mining Litecoin and watch your holdings grow. Litecoin halving, which occurs approximately every four years, reduces the block reward given to miners by 50%. This halving event decreases the rate at which new Litecoins are introduced into the market, effectively limiting the supply.
- Alternatively, eToro has user-friendly interfaces, making it convenient for beginners to get started with their platform.
- If you already own Bitcoin and wish to exchange it for Litecoin, you can do that on a crypto-to-crypto exchange like Binance.
- The simpler algorithm that governs Litecoin’s network allows for faster transaction processing.
- After configuring your mining rig and software, you must set up an account and provide your Litecoin wallet address.
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 https://www.tokenexus.com/top-15-best-blockchain-companies-in-2020/ hardware wallets like Ledger would be a good choice for you. Credit or debit cards are probably the most accepted payment method across platforms but also the most expensive. EToro doesn’t charge fees but those of OKX and Coinbase are 1.99% and 2.49% respectively.
Buy Litecoin Using Decentralized Exchanges (DEX) – The New Way
When you have found an online broker you like the idea of – you need to head to the respective website and sign up. The process at this stage is much the same as buying any other asset – be it ETFs, stocks, or silver. Most digital currencies have shifted in price by double digits at some time or another in one single day.
Aside from general volatility, which threatens Futures traders, Litecoin is a safe investment for investors who want to buy and hold long term. Just like you need a place to store your crucial document and certifications, you need to find a secure place to store your Litecoin funds. Several crypto wallets support storing Litecoin, but we recommend using the eToro crypto wallet because a government agency in the UK regulates it. Do not give out your private details to anyone; only trade with regulated brokers.
🦲 How to Buy Litecoin (LTC) in the UK
However, deposit methods on CryptoRocket are limited, unlike other services. The online broker supports various currencies, such as cryptocurrencies, indices, CFDs, options, bonds, etc. 71.2% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. Miners (as they are called) are given block rewards in the network’s currency for validating transactions. The Bitcoin network will only ever mine 21 million coins, and this event is expected to occur in 2140.
