Whether you\u2019re new to\u00a0cryptocurrency<\/a>\u00a0or well-versed in digital currency, there might come a time when you want to add Litecoin (LTC) to your holdings. Litecoin is often called \u201cthe silver to Bitcoin\u2019s gold,\u201d although it\u2019s a completely separate cryptocurrency.<\/p>\n Created by Charlie Lee in October 2011, Litecoin was one of the first cryptocurrencies to launch after\u00a0Bitcoin<\/a>. The crypto aims to be a global digital payment designed for everyday transactions with its faster speed and lower costs.<\/p>\n You can buy LTC with several different fiat currencies on a number of different\u00a0crypto exchanges<\/a>. Here are a few exchanges where you can exchange Canadian dollars for LTC:<\/p>\n With Kraken, users can pair LTC with several fiat currencies, not just the U.S. dollar. You can pair LTC with the euro, the British pound, the Australian dollar and of course, the Canadian dollar to name a few. Kraken allows you to buy Litecoin with Canadian dollars directly using an Interac e-Transfer from your bank account, initiate a wire transfer or make an in-person payment at your local Canada Post.<\/p>\n Note the terminology of \u201ctrading pairs,\u201d which comes up quite often on crypto exchanges. One example of a trading pair is LTC to\u00a0Tether (USDT)<\/a>. In the case of LTC\/USDT, bitcoins can be converted into Tether, a stablecoin whose value is pegged to the U.S. dollar.<\/p>\n If you\u2019re looking to buy and trade LTC with Tether, here are a few exchanges that pair USDT with LTC:<\/p>\n You can buy Litecoin directly through Litecoin-specific wallets, such as Litewallet, a mobile app available through Google Play.<\/p>\n If you\u2019re all-digital at heart and want to use Litecoin for payments, you can likely get by with a Litecoin-specific app that lets you buy and sell Litecoin.<\/p>\n If you plan on using Litecoin as an investment, you\u2019ll probably do better by opening an account at a crypto exchange.<\/p>\n You\u2019ll also want to ensure that the crypto exchange you choose offers Litecoin, which won\u2019t be too difficult since it\u2019s a popular digital currency. Beyond availability, you\u2019ll want to compare the\u00a0best cryptocurrency exchanges<\/a>\u00a0for qualities such as fees, security and simplicity.<\/p>\n Once you decide on an app or exchange for buying Litecoin, you\u2019ll have to determine how to fund your purchase. If you\u2019re using a payment or Litecoin-specific app, you can fund your account by linking a bank account, credit or debit card. Keep in mind that not all banks or credit card issuers in Canada allow you to perform crypto-related transactions.<\/p>\n Once you\u2019ve funded your account, you\u2019re ready to make your first Litecoin purchase. Depending on the app or exchange you\u2019re using, the buy transaction could be as simple as a click, or you might have to enter the ticker (LTC) and indicate the amount you want to purchase.<\/p>\n When your purchase is complete, you might own full Litecoins or partial coins. For example, if Litecoin is trading at $100 and you want to invest $50, you\u2019ll own 0.5 LTC. If you make a purchase for $100, you\u2019d own 1 LTC.<\/p>\n If you\u2019re new to crypto, you might not be used to having choices for where to \u201cstore\u201d an asset. But with Litecoin, you have several choices.<\/p>\nWhere Can I Buy LTC?<\/h2>\n
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How To Buy LTC<\/h2>\n
1. Choose a Cryptocurrency Exchange<\/h3>\n
2. Buy Litecoin<\/h3>\n
3. Store Your Litecoin<\/h3>\n