You can buy Litecoin from a number of online brokers and trading sites, check out our page for more advice.
Litecoin is another peer-to-peer form of cryptocurrency that has followed on the successful heels of Bitcoin. It follows the Bitcoin structure almost to the letter, with only a few minor differences. Unlike bitcoin there are 84 million coins available and this will be capped. Litecoin also crack codes faster, with a block being cracked every 2.5 minutes as opposed to Bitcoins’ 10 minutes.
It was released in 2011 by a former Google employee, having forked from the Bitcoin core client. Like most cryptocurrency, it experienced a rapid growth in popularity that has seen it increase in value substantially. As of the end of 2017, Litecoins market capitalisation was worth USD $4.6 billion.
Buy Litecoin if you are looking to invest in the next big trend setter. The bigger cryptocurrencies such as Bitcoin and Ethereum are now so popular that they are pricing many investors out of the market. If you buy Litecoins not only will your money go further, but the chances of the bubble bursting due to over saturation are much less reduced.
Knowing how to buy Litecoin and make it work for you is relatively straightforward. First of all you will need a wallet. The most popular wallets tend to be app-based because of their ease of use and availability. Apps like Coinbase, Freewallet and Jaxx are the most popular.
Next, you need to find a Litecoin exchange. Most coins end up being exchanged for the more valuable Bitcoins, so you could buy Bitcoins first and then exchange them for Litecoins on exchange sites such as Polonix. If you want to buy the coins directly, you can use an exchange such as eToro, Coinbase or BitPanda using your credit card. You can also use Paypal to fund your purchases, but you can only buy Bitcoins. You would then have to use a different exchange site to exchange them into Litecoins.
One last tip knowing how to buy Litecoins; if you use a credit card or Paypal you will pay higher fees. A wire transfer will be much cheaper.
The best Litecoin wallet for you all depends on how you intend to trade and how security conscious you are. If you want to do small trades and need access to your wallet when you are on the move, then a mobile wallet would suit your needs. Most mobile wallets are app-based and can be downloaded from iOS, android and all the other main operating systems. The majority are free and have easy to use interfaces. They are also very secure.
If you are planning on trading fairly large sums, then security is going to be a priority. A hardware wallet would be the best solution for this. A hardware wallet from the likes of Trezor, or KeepKey allows you to retain the mobile aspect of an app-based wallet. The big difference is that all your details are stored offline, so if you have a sizeable Litecoin wallet then this could be the option for you. Just don’t lose it!
The Litecoin exchange rate is as unpredictable as the British weather. It has only seen one significant dip in its value in early 2014. Since then it has recovered strongly and its value continues to grow. This constant reevaluation of its current worth, along with how the markets are trading, make it difficult to pin down a fixed rate. The Litecoin exchange rate will fluctuate like any other currency and it is up to you to find out who is offering the best exchange rate for your money. This applies to virtual currency and fiat currency too.
The best way to buy Litecoins is by using a respected broker. Every transaction includes a mathematical problem that must be solved by a supercomputer in order for it to be processed. This is to ensure that it is secure as possible. The computing power needed to crack this maths problem is unprecedented and the hardware is expensive to buy. A broker will do this for you for a small fee and they also get paid for cracking the block that your transaction is a part of. Because anonymity is such a large part of any Litecoin transaction finding a broker that is trustworthy is even more important. Brokers such as eToro, Avatrade, 24Option, and XTB all have excellent customer satisfaction feedback and should be the perfect place for you to buy Litecoins.
The Litecoin value chart is simply how much the currency is worth at any given time. At the time of writing this, one LTC1 was worth £252.33, whereas 24 hours earlier it was worth £233.23. The LTC value looks like a graph and updates are given in real time to keep you 100% up to date. The value chart can be viewed in many different forms of currency, both virtual and nonvirtual. It is the most effective way of monitoring what the value of your coins is doing.
Litecoin price predictions from cryptocurrency experts continue to be favourable. They forecast that it will continue to rise for at least the next five years. It recently saw a USD$300 spike in one day to make it the fourth largest cryptocurrency behind Bitcoin, Ethereum and Bitcoin Cash.
Litecoin pool is a way of mining coins and distributing the wealth equally. Mining for blockchains is time consuming and expensive, so a pool is when miners work together to crack the blockchains. The reward for cracking a blockchain is currently 25 Litecoins. At the moment this works out at roughly £6,300, so it’s lucrative work. The Network aims to process a block every 2.5 minutes, so the potential earnings are extremely high. Finding a block can be tough, so the more hands that are on deck, the greater the chance of cracking it and getting paid. If you would like to earn Litecoins to enable you to buy more, then this strategy could be for you. There are loads of ways to buy Litecoin from some of the top brokers and traders in the business.