Litecoin was created by Bitcoin and is trying to become a better, faster, and more efficient alternative. But should you buy Litecoin, or is there a better solution?
We have looked at LTC and would like to show you some ways and places where you can trade and invest in Litecoin. To do so, we looked at different brokers and exchanges and chose the best one.
The best Litecoin suppliers at a glance
Here’s an overview of all the suppliers mentioned for buying Litecoin:
|1 %||Over 60 coins|
|Buy: 0.16%, |
|Over 250 coins|
|No fees||Over 600 coins|
|0.50%||Over 100 coins|
What is Litecoin?
Litecoin is bitcoin’s so-called “little brother.” LTC was developed to improve and optimize processes in which bitcoin “fails.” These include transaction times, number of transactions per second or minute, and overall usability.
LTC was created by Charlie Lee in 2011 and is very much tied to the bitcoin model. The year it was founded, Litecoin was an innovation that definitely surpassed its predecessor. Litecoin transactions take about 2.5 minutes and can be done at a rate of up to 56 per second.
LTC reached its ATH (historical high) on May 9, 2021, at $317.72 per coin. How are things today? How much is lightcoin worth? The price is $55.26 (as of August 30, 2023).
After ATH, the price managed to rise again only on November 14, 2021, to $242.93. Since then, the price has only been falling! Accordingly, Litecoin’s forecast does not look charming either. The main reason for this is the large number of new cryptocurrencies and blockchains, which have faster transaction speeds and are considerably cheaper.
Is it worth investing in Litecoin?
Should I buy Litecoin or not? This is the question every investor who is planning to invest in cryptocurrency is asking. We looked into Litecoin’s properties and found that there is new information in the LTC roadmap, and work on the coin is ongoing.
This was good news, increasing LTC’s potential. This could push the LTC price up and reward investment. Since the price of Litecoin is quite low right now, a Litecoin update would mean buying low now and selling high later.
But this is not a recommendation to buy; you should always do your own research!
Extensions can make Litecoin relevant again if:
- Taproot update: this refers to a Litecoin wallet called Plasma. The new wallet is fast and allows anyone to make transactions through the Litecoin Lightning network. If you want to buy Litecoin anonymously, you can use the new coin purse.
- LTC Labs: By opening LTC Labs, Litecoin shows that it is fighting for a better future for blockchains and cryptocurrencies. A separate ecosystem is planned here to explore digital currencies, anonymous transactions, e-wallets and other technologies.
- MWEB update: MWEB offers Litecoin users the ability to send “confidential” Litecoin transactions between addresses, where the amount sent is known only to the sender and recipient, as well as the benefit of having a personal balance of the address.
In addition, Litecoin wants to make it one of four cryptocurrencies that can be used with PayPal.
While Litecoin exchange will still be required via PayPal, the ability to pay, send, and receive Litecoin will have a significant impact on price.
Payment methods for buying Litecoin
What payment methods can you use to buy Litecoin? We’ve looked at various options and would like to explain in more detail how you can buy Litecoin. Since it is a well-known and relatively safe cryptocurrency, you can buy it from exchanges and brokers that are also well-known and safe.
Do you want to buy Litecoin via PayPal? No problem! PayPal recently added Litecoin as a cryptocurrency. This means that you can buy and sell LTC directly through the PayPal app. You can also pay with Litecoin and send it to other PayPal users.
PayPal can also be used with brokers to buy Litecoin. If you want to buy the coin on other exchanges and from other brokers using PayPal, you need to transfer the fiat currency to your customer account through PayPal and then use it to buy.
A credit card is the most common payment method and can be used by almost every broker and exchange. If you want to buy Litecoin, select credit card as the payment method and buy the appropriate token number for the token you want to invest in.
A bank transfer is a slightly slower way of investing in cryptocurrencies. Here you need to send money to your brokerage or exchange account by bank transfer, where you can then buy Litecoin. This method can take 3–5 business days and is only used in some cases.
For fast investments with unpredictable price movements, other payment methods are much more advantageous. Bank transfer is suitable for some platforms, as they usually have fast processing times.
Instant bank transfer
Another method of payment is instant bank transfer. Here, you get your credit in just a few minutes and can use it directly to buy Litecoin. Instant transfer comes with a small cost, so it should be used with caution.
Another e-wallet you can use is Skrill. Skrill offers a fast and easy transfer of funds. As with PayPal, you can use your account to transfer money to the broker and invest directly.
This offers the same principle as Skrill and PayPal. The transfer is carried out in just a few steps and usually for a small fee of 1.45% .
Buy LightCoin or not? Our conclusion
Is Litecoin worth investing in? This question is much better answered in our Litecoin forecast. If you’ve already done your research and are looking for a way to buy LTC, we can tell you that there are many ways to do so.
In our guide you will find the best brokers and exchanges to buy Litecoin.
Once you buy a coin, you can leave it on the platform and reap the benefits, or create a wallet and send yourself an asset to keep it.
But if you want to invest less and are looking for a good alternative, you can buy Litecoin. If the outlook is positive, buying Litecoin might be more profitable because you can get some coins at a low price, which is not the case with other cryptocurrencies.
Here, you can only buy a piece of the coin with a small investment. If the price goes up, you will only get a small percentage of the increase.
What you choose in the end is up to you, because investing in cryptocurrencies involves risk. Always remember to do your own research and only invest what you can afford to lose!