While there are other options, such as receiving Litecoin as payment or mining Litecoin, these are likely to require more legwork for a first-time buyer. Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. Once you’ve bought some LTC, think about what your short and long-term goals are. This will help you decide whether to keep it on an exchange, or move it to your own wallet. Carefully consider investing in LTC as part of a wider strategy, and talk to a financial advisor if you have any questions.
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site.
For example, if Litecoin is trading at $100 and you want to invest $50, you’ll own 0.5 LTC. Be prepared to pay a markup on LTC’s market rate in exchange for the convenience. Most exchanges let you buy as little as $5 worth of LTC, if not less.
Experts suggest limiting your investment to a small fraction of your net worth in cryptocurrencies, including Litecoin. “Top picks” are those we’ve evaluated to be best for certain product features or categories – you can read our full methodology here. If we show a “Promoted Pick”, it’s been chosen from among our commercial partners based on factors that include special features or offers and the commission we receive. While this has helped make LTC the #15 crypto by market cap, Litecoin is still a highly volatile asset capable of major price swings in a single day. If you decide to invest in Litecoin, you should have a well-thought-out idea of why you think it will grow in value long term. If you want to use it for payment, it’s a good idea to consider where you can spend it and why you view it as superior to traditional currency and other cryptos.
Recent Litecoin developments
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You can pair LTC with the euro, the British pound, the Australian dollar, and the Japanese yen, to name a few. Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve. Learn more in our crypto tax guide or use our round-up of the best crypto tax software to make tax reporting easier. If you see colorful charts with a range of prices, you’re probably in the spot market.
Compare today’s price of Litecoin ($82.09 USD) against its all-time high (ATH) price of $410.26 USD on May 10, 2021. The closer the bar is to 100%, the closer LTC is to reaching its ATH again. You’ll find the spot market under a “Trade” or “Spot” heading on the site or app menu of the platform you’ve chosen to use. It should feature a simple interface that lets you enter the amount of Litecoin you want to buy, or US dollars you want to spend. For this reason, some think of Litecoin as a complement to Bitcoin, not a competitor. Litecoin and Bitcoin have many of the same properties, but Litecoin is often considered more of a payments technology and Bitcoin a store of value.
Keep in mind that these are suggestions and that the exchange that is best for you will depend on your individual needs. Today LTC is trading for $82.09, which is slightly down from yesterday’s trading price of $81.02. A hot wallet is connected to the internet and can be accessed anywhere. This is a useful feature, but it may also mean your assets are more exposed to hackers or thieves. But, unfortunately, in some cases, it’s so easy that you can make a costly mistake if you’re not careful.
When comparing offers or services, verify relevant information with the institution or provider’s site. If you hold Litecoin as an investment, you’ll be taxed on any capital gains you make when you sell it — which includes spending it on goods and/or services. Our partners cannot pay us to guarantee favorable reviews of their products or services. You’ll also want to ensure that the crypto exchange you choose offers Litecoin, which won’t be too difficult since it’s a popular digital currency. Beyond availability, you’ll want to compare the best cryptocurrency exchanges for qualities such as fees, security and simplicity. If you want to buy Litecoin, start by comparing a range of crypto brokers and exchanges available in the US.
Make your purchase
We may also receive payment if you click on certain links posted on our site. If you’re new to crypto, one of the simplest ways to buy digital assets is through cryptocurrency exchanges. Paying with cryptocurrency is an option if you already have some digital assets in your portfolio and want to buy Litecoin without increasing your overall exposure to crypto.
Then, once the transaction is complete, you can check to ensure it went through. Be aware, however, that using high-interest debt such as credit card balances to buy a risky asset like crypto could deepen your losses if your investments decline. More broadly, there are thousands of cryptocurrencies, all competing for the same investor dollars. And beyond crypto, there are many other investments such as stocks, bonds or real estate that you might want to consider. Created by Charlie Lee in October 2011, Litecoin was one of the first cryptocurrencies to launch after Bitcoin. The crypto aims to be a global digital payment designed for everyday transactions with its faster speed and lower costs.
Choose a Cryptocurrency Exchange
Many other cryptocurrencies are working on payment methods as well, and merchants that accept Litecoin may also take cryptos such as Bitcoin. If you’re new to crypto, you might not be used to having choices for where to “store” an asset. When your purchase is complete, you might own full Litecoins or partial coins.
You’ll usually find the instant buy section under a “Buy now” heading on the platform you’ve chosen. If you’re ready to get started, read on for step-by-step instructions and a list of platforms you can use to buy Litecoin in the US.
While compensation arrangements may affect the order, position or placement of product information, it doesn’t influence our assessment of those products. Please don’t interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder.com compares a wide range of products, providers and services but we don’t provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service. Another way to buy crypto is through crypto exchanges, which make matches between buyers and sellers.
If you’re all-digital at heart and want to use Litecoin for payments, you can likely get by with a payment app or a Litecoin-specific app that lets you buy and sell Litecoin. If this is your first time buying cryptocurrency you’ll need to look for a platform that accepts US dollars, like Public or SoFi. When you’re buying Litecoin, it’s a good idea to triple check the dollar value of your purchase and to make sure you actually selected Litecoin.
How to buy other cryptos
The 2 most common ways to buy LTC are on the spot market or with an “instant buy” feature. If you’re familiar with stocks and already working with an online stockbroker, you can check to see if it offers cryptocurrency. Before you invest your money, know the risks of cryptocurrency and keep your investment to a small amount of your net worth. While the major exchanges have insurance against hacking events and such, you might opt to store your Litecoin in one of these offline wallets. Once you’ve funded your account, you’re ready to make your first Litecoin purchase. If you plan on using Litecoin as an investment, you’ll probably do better by opening an account at a crypto exchange.
Depending on network congestion, transactions on Litecoin are completed within seconds. Don’t worry too much about extra features or coins for now – you can always sign up with another exchange later. Usually, all you have to do is look up the asset you’d like to purchase, type in the amount you want and confirm your transaction. With Kraken, users can pair LTC with several fiat currencies, not just the U.S. dollar.
While Litecoin was developed to be a form of payment, some users also buy it as an investment in hopes that its value will rise. Over time, Litecoin’s price has increased, though it also has seen several shorter-term declines. The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
You can buy Litecoin directly through other payment apps such as Venmo and PayPal or Litecoin-specific wallets, such as Litewallet, a mobile app available through Google Play. He coordinates a distributed team of journalists to help further Finder’s mission of helping people make better financial decisions. He has been using Bitcoin since 2013 and began working in the industry in 2017. He takes pride in boiling down complex topics into language his parents can understand.
- These can be expensive and more difficult to use, and they offer fewer options for restoring your account if you lose the device on which you stored them.
- NerdWallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances.
- Many sell Litecoin either for cash or in trade for other digital assets.
- While Litecoin was developed to be a form of payment, some users also buy it as an investment in hopes that its value will rise.
Whether you’re new to cryptocurrency or well-versed in digital currency, there might come a time when you want to add Litecoin (LTC) to your holdings. Litecoin is often called “the silver to Bitcoin’s gold,” although it’s a completely separate cryptocurrency. Some platforms only offer 1 way to buy Litecoin, while others provide several choices.
Learn how to buy Litecoin on 10+ exchanges in our step-by-step guide.
They make money largely through fees on the transactions carried out on their platforms. Many sell Litecoin either for cash or in trade for other digital assets. Litecoin, a cryptocurrency adapted from Bitcoin to facilitate digital payments, is one of the most widely available digital assets. Many top crypto exchanges and platforms allow users to buy Litecoin. NerdWallet, Inc. is an independent publisher and comparison service, not an investment advisor.
Exchanges vary widely in the crypto trading pairs they offer, but many do offer trades, including Litecoin and other assets. Paying in cash will be your only option unless you already own crypto. Major exchanges generally allow users to pay through bank transfers, such as automated clearing house transactions. Once you decide on an app or exchange for buying Litecoin, you’ll have to determine how to fund your purchase.
Just type in how much you want to spend in USD and let the exchange work out the rest. Once you’ve set up your account, you’ll need to deposit funds to buy Litecoin with. We’ve listed out some popular ways to buy LTC and what you should know about each payment method. This is a standard security procedure for most exchanges in the US and requires you to upload some photo ID, and in some cases a selfie with today’s date. If you want to buy Litecoin with US dollars, you’ll need to pass a Know Your Customer (KYC) check. The simpler algorithm that governs Litecoin’s network allows for faster transaction processing.
If you only want to store Litecoin, and not multiple cryptocurrencies, a Litecoin-specific wallet could be a good fit. Most of the popular crypto exchanges have built-in digital wallets where you can store your Litecoin and other crypto purchases. Some folks prefer to store their crypto in a separate digital wallet that’s not linked to the internet to help keep their crypto safe from hackers.
