\n<\/p>\n
Looking to learn how to buy Litecoin? You can buy LTC on Interactive Brokers<\/a> or eToro<\/a>!<\/strong><\/p>\n Sometimes referred to as the \u201csilver to Bitcoin\u2019s gold,\u201d Litecoin (LTC) is an open-source, peer-to-peer cryptocurrency designed for payment processing at scale. Like Bitcoin, Litecoin has a maximum supply. Litecoin’s maximum supply is capped at 84,000,000, which is 4 times that of Bitcoin’s maximum supply. Litecoin offers distinct features when compared to Bitcoin<\/a>. Litecoin\u2019s network is based on the technology behind Bitcoin<\/a>, but with a few changes to allow for higher throughput.<\/p>\n Litecoin\u2019s network batches transactions into blocks every 2.5 minutes, instead of 10. This means lower transaction costs and faster transfer speeds when compared to Bitcoin’s mainnet. This comes at a cost, however, as the Litecoin ledger grows in size 4x quicker than Bitcoin’s. A larger blockchain can become a problem down the road if storage doesn’t scale to match: making the network incredible centralized and therefore insecure. <\/p>\n It\u2019s never been easier to invest in crypto<\/a> than it is right now. Our guide will teach you how to buy Litecoin, how to decide when to sell your coins and a few of our favorite platforms that currently support Litecoin trading.\u00a0<\/p>\n The easiest way to purchase Litecoin (and most cryptocurrencies) is to open an account with a cryptocurrency exchange that supports the direct purchase and sale of Litecoin. A cryptocurrency<\/a> exchange is similar to a stockbroker \u2014 you\u2019ll open your account and place buy orders to purchase cryptocurrencies. After your order closes, you\u2019ll see your Litecoin in your exchange wallet. If you’re looking to make an account with a cryptocurrency broker with extremely low fees, then Interactive Brokers<\/a> is your best option. Other great options for new investors are eToro<\/a> and Webull<\/a>.<\/p>\n Like opening a bank account or a stock brokerage account, you\u2019ll need to supply a bit of personal information to your broker before you can access trading capabilities. Some of the information you might need to provide may include:<\/p>\n Your full legal name and address While most exchanges offer built in custodial wallers, you should choose a private wallet to hold your coins. There are 2 major types of cryptocurrency wallets: hardware wallets and software wallets. Hardware wallets are typically “cold” which means the private key needed to unlock your Litecoin wallet will never touch the internet. Software wallets are made for convenience and storing smaller amounts dedicate to spending. Software wallets are internet-enabled, meaning that using your software wallet over an unencrypted network could result in the loss of your funds. <\/p>\n The best practice when it comes to crypto wallets is to purchase a hardware wallet like the Ledger Nano X and download a software wallet like ZenGo. Your ledger will act as a home vault, while ZenGo acts as an everyday wallet with smaller amounts in it. <\/p>\n<\/li>\n After you\u2019ve opened your account, funded the account and decided where you want to store your coins, it\u2019s finally time to place your order. You\u2019ll place an order to buy Litecoin using a buy order<\/a>. There are multiple types of buy orders \u2014 let\u2019s take a look at a few of the most common order types you might run into.\u00a0\u00a0<\/p>\n Market order:<\/strong> A market order is a buy order that you want to purchase a set amount of Litecoin at the current market rate. Market orders are filled immediately as long as someone is selling their Litecoin when you place the order. Market orders are much more likely to be filled than other order types but give you less control over the price that you pay per coin.<\/p>\n Limit order:<\/strong> A limit order will buy a specific amount of Litecoin but only at a set price. When you enter a limit order, you\u2019ll choose both the number of coins you want to buy and the maximum price you\u2019re willing to pay per coin. Say you set an order to buy 5 Litecoin at a limit price of $80 per coin, your order will only be filled if Litecoin reaches $80 or less. Limit orders give you more control over the price you pay per coin.<\/p>\n After you place your buy order, you can finally relax. You\u2019ll see your coins in your account when the order is complete.\u00a0<\/p>\n<\/li>\n<\/ol>\n<\/div>\n<\/div>\n Not every crypto broker offers access to the same coins. If you aren\u2019t sure where to start your search, consider a few of our favorite brokers currently supporting Litecoin trading below.\u00a0<\/p>\n On most brokerages, you must consider the spread that the platform charges. Spreads are represented in the price of an asset, so these fees can be sneaky. Spreads leave you paying more than you should for your crypto. For example, an exchange that charges a 1% spread will charge you an extra $50 for every $5,000 invested on the platform. Luckily, Interactive Brokers<\/a> is one of the few platforms that doesn’t charge a spread, so you won’t have to put up with any hidden fees. <\/p>\n Trading fees on IBKR are also considerably lower than its competitors, making it a great option for those looking to trade cryptocurrency frequently.<\/p>\n Another one of our favorite features of IBKR is that it’s an all-in-one platform where investors have access to stocks, funds, bonds, futures and other investment vehicles \u2013\u2013 no more needing to worry about managing your portfolios across separate exchanges!<\/p>\n If you\u2019re new to the cryptocurrency market, you might want to start your investing career with Gemini<\/a>. Gemini is a straightforward broker that focuses on providing investors with a simple trading platform<\/a> they can use to buy and sell some of the most popular digital currencies in just a few clicks. Gemini\u2019s platform gives you 24\/7 access to your coins, and you can track how your investment is changing over time with a glance. In addition to its desktop platform, Gemini also offers comprehensive mobile trading and more advanced tools for users who prefer to have access to expert-level charting and analysis tools.\u00a0<\/p>\n Another popular cryptocurrency broker for beginners, eToro<\/a> offers both desktop and mobile Litecoin investing. One of eToro\u2019s most unique features is its CopyTrader functionality, which allows you to start trading cryptocurrencies by \u201ccopying\u201d the trades made by professional crypto investors. Simply choose a user who you want to copy, enable CopyTrading and eToro will match your moves to the experts.<\/p>\n Interested in testing out your crypto trading skills? Consider starting with eToro\u2019s practice account functionality, which provides you with $100,000 worth of fake virtual currency to hone your trading skills. With a clean interface and a number of unique tools, eToro can be an ideal option for intermediate investors and experts alike.\u00a0<\/p>\n This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) and USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections and not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.<\/p>\n <\/span><\/div>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n We recommend that you store your Litecoin in a cold storage wallet. Browse a few of our favorite options below.\u00a0<\/p>\n One of the biggest complaints that cold storage wallet users have about cold wallets is that they tend to support fewer cryptos than hot wallets. This can mean purchasing multiple different wallets to store all of your tokens, which increases the chance that you\u2019ll misplace a device.<\/p>\n The Exodus Wallet is among the most feature comprehensive cryptocurrency wallets we\u2019ve seen. With support for desktop, mobile and cold storage, you’re sure to have access no matter where you are. Exodus also has a built in exchange and supports over 150 different currencies. If you\u2019re searching for a 1-stop-shop solution to store multiple cryptocurrencies offline, Exodus can provide you with a solution for all of your crypto wallet needs.\u00a0<\/p>\n Best For<\/span><\/p>\n Staking Crypto + Earning Rewards<\/span><\/div>\n<\/div>\n<\/div>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n Many cold storage wallets cost around $100. If you\u2019re a new investor, you might not be able to spend this much on a wallet \u2014 especially if you only need to store a small amount of Litecoin.<\/p>\n A cheap and effective way to take better control of your Litecoin is to transfer it from your exchange wallet into a wallet where you control the private key. One example of this is Coinbase<\/a> Wallet. This is a completely separate app from Coinbase and Coinbase Pro, and it lets you store a wide variety of cryptos at your fingertips. <\/p>\n While Litecoin does structurally improve upon Bitcoin\u2019s technology, it still presents risks to investors. Litecoin\u2019s rapidly aging infrastructure is no longer as unique as it was when the coin debuted in 2011, with many altcoins now offering the same benefits and efficiency. Litecoin\u2019s founder, Charles Lee, also sold his stake in Litecoin in 2017, which has affected investor confidence.\u00a0<\/p>\n Litecoin\u2019s primary goal was to create a version of Bitcoin that is more scalable and aimed at small payments. While it does achieve this goal to a certain extent, newer blockchain innovations such as\u00a0Stellar Lumens<\/a>\u00a0do a much better job than Litecoin. In 2022, Litecoin is officially a dinosaur coin, and presents especially high risk for a top 25 crypto project. For more modern altcoin options, see\u00a0Best Altcoins in 2022<\/a>.<\/p>\n If you plan to take advantage of short-term price movements, it\u2019s usually best to leave your coins in your exchange wallet. Convert Litecoin to an intermediary currency (like USD Coin or Tether) when you think the price is high, then convert back to Litecoin when you believe the price is low. This allows you to accumulate more Litecoin, which you can cash out when you decide to take profits.<\/p>\n If you plan to become a cryptocurrency day trader, it\u2019s important that you open an account with a trusted, reliable exchange. Explore a few of our favorite cryptocurrency exchanges offering access to Litecoin trading below if you aren\u2019t sure where to begin.\u00a0\u00a0<\/p>\n Keeping track of how Litecoin prices are changing can help you determine the best time to buy. Browse some of today\u2019s market changes below.\u00a0\u00a0<\/p>\n As among the 1st altcoins on the market, Litecoin typically holds its value better than newer altcoins with lower market capitalizations. Let\u2019s take a look at a few of the advantages of the Litecoin network and technology.<\/p>\nHow to Buy Litecoin<\/h2>\n
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Your email address and phone number
Some information on your income and experience trading cryptocurrencies
Bank account information or data for another payment method (like PayPal and credit card info)
A copy of your driver\u2019s license, passport or another form of photo ID
Your Social Security Number<\/p>\n<\/li>\nBest Crypto Exchanges for LTC<\/h2>\n
Interactive Brokers (IBKR)<\/h3>\n
Gemini<\/h3>\n
eToro<\/h3>\n
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Best Crypto Wallets <\/h2>\n
Best Wallet for Litecoin: Exodus<\/h3>\n
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Best Software Wallet for Litecoin: Coinbase Wallet<\/h3>\n
Is Litecoin a Good Investment?<\/h2>\n
Trade or Sell Your Litecoin<\/h2>\n
Current Crypto Prices<\/h2>\n
Advantages of Litecoin Investments<\/h2>\n