Where & How to Buy Litecoin (LTC) in 2024 Best Places

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Last updated Apr 24, 2024 | 09:11 AM UTC

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Intro

Litecoin was inspired by Bitcoin and is one of the earliest altcoins. It was launched in 2011 and shares a modified codebase with BTC. 

Today, we have curated a comprehensive guide to the top platforms and best ways to purchase and store LTC.

To learn where to buy LTC check out our list of exchanges. 

To explore how to buy LTC we have also provided a step-by-step walkthrough that starts with showing you how to select the best crypto exchange.

See all the details you need to know below. 
 
 

Key Takeaways

  • The best way to buy Litecoin is via a centralized exchange
  • Alternative ways include crypto ATMs, DEXs, gift cards, and Telegram
  • Cold wallets offer maximum safety 
  • Investors can also get Litecoin via mining  

 

How to Buy Litecoin - Step by Step

The most convenient way to purchase Litecoin is through a trusted and secure cryptocurrency exchange

Crypto exchanges offer a streamlined process to purchase LTC using fiat currency or other digital assets.  

This makes them the preferred choice for both novice and experienced investors looking to add Litecoin to their portfolios. 

You can get LTC on an exchange by following the steps listed below: 
 

  • Step 1: Opt for a well-established exchange
  • Step 2: Create an account
  • Step 3: Fund your account
  • Step 4: Place a buy order
  • Step 5: Review details and confirm
  • Step 6: Secure your LTC

 

Step 1: Opt For A Well-Established Exchange

When it comes to acquiring Litecoin, choosing a cryptocurrency exchange that is widely recognized for its security, compliance, and depth of liquidity is crucial

Top exchanges have already established themselves as industry leaders.

They utilize the best possible security measures like advanced encryption to secure users' data. 

Exchanges also enforce the use of two-factor authentication. 

These exchanges have undergone extensive audits conducted by government bodies. They adhere to regulatory guidelines and maintain high standards of customer protection.

Additionally, top crypto exchanges come with high liquidity, which means you can trade crypto quickly without drastic price changes.  

By selecting a prominent and trusted platform, you can have peace of mind knowing that your Litecoin purchases will be executed securely and in accordance with applicable laws and regulations.  

This initial step lays the foundation for a smooth and reliable Litecoin acquisition experience.
 

Step 2: Create an Account

The next step in getting LTC is to create an account on the platform of your choice. The registration process typically involves providing personal information: 
 

  • Full name
  • Date of birth
  • Residential address 

Then, you’ll need to verify your identity through Know Your Customer (KYC).

The KYC process helps exchanges comply with anti-money laundering (AML) and counter-terrorist financing (CTF) regulations.

It ensures the integrity and security of the platform. 

You’ll likely be required to submit documents like a government-issued ID or proof of address to complete the verification.

This process lasts from several minutes up to several days, depending on the exchange.  

It’s simple and all you have to do is scan a QR code with your smartphone to start.

Once your account is approved, you'll be able to access the exchange's Litecoin trading functionality. 

All limits will be lifted and all features will be unlocked. 

Then, you can deposit funds to make purchases.
 

Step 3: Fund Your Account

The next step is to fund it with the fiat currency (USD, EUR, GBP) or crypto you'll use to purchase LTC. 

An exchange offers users several options for depositing funds. You can link a bank account, wire transfer, debit card, or digital wallet like PayPal.

The process of funding your account is straightforward.

It involves connecting your payment method, providing details, and authorizing the transfer. 

Then, you’ll wait for the funds to be cleared and credited to your exchange balance. 

Sometimes, an exchange might use an intermediary to process payments. In this case, you'll have to verify your identity again so that your payment is cleared.

Some exchanges may also offer the ability to deposit other cryptocurrencies, which you can then use to trade for Litecoin.

You can send crypto to an exchange wallet like you would to any other wallet. 

Scan the code or copy/paste the address and enter the amount you wish to send.

Wait for the transaction to confirm and the crypto will be in your wallet.

Depending on the type of crypto you use, you might wait for up to 30 minutes to see it in your wallet.
 

Step 4: Place a Buy Order

Navigate to the exchange's Litecoin trading pair, such as LTC/USD or LTC/EUR, and locate the buy order feature.

Here, you'll need to specify the amount of Litecoin you want to buy and the price you're willing to pay. 

Exchanges offer both market orders and limit orders

Market orders execute the trade at the current market price. 

On the other hand, limit orders allow you to set a specific price target.

Market orders are the quickest way to buy Litecoin, as they match your order with the best available sell price on the exchange. 

Limit orders, on the other hand, give you more control over the price you pay. Still, these may take longer to execute depending on market conditions. 

Market orders are also similar to an “instant buy” feature some wallets and exchanges offer.

Choose the option you prefer, and move on to the next step.
 

Step 5: Review Details and Confirm

Carefully review all order details to ensure the transaction aligns with your investment goals. 

This step helps you understand the total cost, including any applicable fees, as well as the exact amount of Litecoin you'll receive.

While examining the order summary, you’ll notice it displays: 
 

  • The Litecoin quantity
  • The price per LTC
  • The total fiat currency/other crypto amount being debited from your account
  • Fees

Double-check these figures to avoid any unexpected charges or discrepancies.

Once you're satisfied with the terms, confirm the buy order. 

Now the exchange will execute the transaction, adding Litecoin to your exchange-based cryptocurrency wallet. 
 

Step 6: Secure Your LTC

The exchange provides a custodial wallet where you can hold Litecoin. This means the exchange can manage your wallet for you.

However, it's generally recommended to withdraw your LTC to a personal, non-custodial wallet.

Private wallets allow you to store your Litecoin private keys offline or on your own device. 

This reduces the risk of third-party access or potential exchange hacks. 

The added layer of security is important for all investors, but especially long-term Litecoin holders who want to ensure the safety and accessibility of their holdings.

The process of withdrawing Litecoin from the exchange to your personal wallet is typically straightforward.

It involves providing your wallet address and confirming the transaction.

Keep in mind that you should withdraw only Litecoin to an LTC wallet address. Other coins or tokens you send to this address will be lost.
 
 

Where to Buy LTC - Best Places

If you’re wondering where to buy Litecoin, there are several options available. Depending on your preferences and the level of control you seek over your Litecoin holdings, you may consider:

  • Centralized crypto exchanges (CEXs)
  • Decentralized exchanges (DEXs)
  • Crypto wallets
  • Peer to peer (P2P) platforms
  • Cryptocurrency ATMs
  • Over-the-counter (OTC) trading desks

Best Sites

Established in 2011, Kraken is a trusted cryptocurrency exchange renowned for its longevity and diverse trading interfaces, catering to a broad user base.

General Information

Year founded: 
2011
Coins Available: 
Bitcoin
Ethereum
Tether
Polkadot
Chainlink
Cardano
Bitcoin Cash
Litecoin
Uniswap
USD Coin
XRP
Aave
Stellar
Tezos
Curve DAO Token
Algorand
Monero
Synthetix
Dai
Filecoin
Compound
EOS
The Graph
Cosmos
Keep Network
ICON
yearn.finance
TRON
Qtum
Dash
Basic Attention Token
Zcash
Kusama
OMG Network
Waves
Nano
Dogecoin
Enzyme
Decentraland
Kava.io
Ethereum Classic
Orchid
Kyber Network
Storj
Siacoin
Lisk
Aragon
PAX Gold
Gnosis
Balancer
tBTC
Augur
0x
1inch
Aavegotchi
Acala Token
Adventure Gold
Akash Network
Alchemix
Alchemy Pay
Alien Worlds
Ambire AdEx
Ampleforth Governance Token
Ankr
APEcoin
API3
Aptos
Arbitrum
ARPA Chain
Astar
Audius
Avalanche
Aventus
Axie Infinity
Badger DAO
Bancor
Band Protocol
BarnBridge
Biconomy
Bifrost
BitDAO
Blur
Bluzelle
BitTorrent Chain
Boba Network
Bonfida
Bonk
r/FortNiteBR Bricks
Cartesi
Celer Network
Celestia
Centrifuge
Chain
Chiliz
Chromia
Civic
Coin98
Convex Finance
COTI
Covalent
Dent
dYdX
Energy Web Token
Enjin Coin
Ethereum Name Service
Euler
Fantom
Fetch.ai
Flare
Flow
Frax Share
Gala
Galxe
Gari Network
GensoKishi Metaverse
Gitcoin
GMX
Green Satoshi Token
Harvest Finance
Hashflow
IDEX
iExec RLC
Immutable
Injective Protocol
Internet Computer
Jasmy
JITO
JUNO
Karura
Keep3r BSC Network
KeeperDAO
KILT Protocol
Kin
LCX
Lido DAO Token
Livepeer
Loopring
Maker
Mango
Marlin
Marinade Staked SOL
Mask Network
Merit Circle
Mina
Mirror Protocol
Moonbeam
Moonriver
r/CryptoCurrency Moons
Multichain
MultiversX
My Neighbor Alice
MXC
NEAR Protocol
Numeraire
NYM
Ocean Protocol
Optimism
Orca
Origin Protocol
OriginTrail
Oxygen
PayPal USD
Pepe
Perpetual Protocol
Phala.Network
PlayDapp
Polkastarter
Polygon
Power Ledger
PYTH Network
Quant
Radicle
Rarible
Raydium
Ren
Render Token
Request
Robonomics.network
Rocket Pool
Rubic
Saber
Samoyedcoin
Secret
Sei
Selfkey
Serum
SHIBA INU
Shiden Network
Solana
Songbird
Spell Token
Stacks
Stafi
Star Atlas
Star Atlas DAO
Stargate Finance
Stella
Step Finance
STEPN
Sui
SuperRare
SuperVerse
SushiSwap
Swipe
Synapse
Terra 2.0
Terra Classic
TerraClassicUSD
Terra Virtua Kolect
Tether EURt
The Sandbox
THORChain
Threshold
TrueFi
TrueUSD
Unifi Protocol DAO
UMA
WOO Network
Wrapped Bitcoin
WETH
Yield Guild Games
Altair
Basilisk
Crust Shadow
Genshiro
HydraDX
Integritee
Interlay
Kintsugi
LimeWire
Nodle
Parallel Finance
Picasso
Polygon Ecosystem Token
pSTAKE
Tokemak
Wrapped Axelar
Website Languages: 
Chinese
English
Filipino
French
Italian
Japanese
Portuguese
Russian
Spanish
Turkish
Ukrainian
Vietnamese

Anonymity

As a registered US exchange, Kraken strictly adheres to KYC & AML laws, prohibiting the creation of anonymous accounts and ensuring regulatory compliance.

Reputation

With one of the best reputations in the industry, Kraken holds the distinction of being the only crypto company worldwide to secure an SPDI banking license.

Pros and Cons

Supports hundreds of coins
High liquidity
Simple and user-friendly interface
Good customer support options
Lots of advanced trading features like margin, futures, and indices trading
No insurance fund for assets on the platform
Doesn’t offer a crypto credit card
No personal wallet service for traders
Supports only a few fiat currencies

Huobi Global, established in 2013, is a world-leading crypto trading platform, providing secure and convenient trading services for digital assets.

General Information

Year founded: 
2013
Coins Available: 
Bitcoin
Ethereum
Litecoin
Uniswap
Polkadot
Bitcoin Cash
Chainlink
Bitcoin SV
EOS
XRP
SushiSwap
Tether
Curve DAO Token
BitTorrent
TRON
Sun
Aave
FTX Token
Zcash
Cardano
Huobi Token
Matic Network
JUST
Basis Gold Share
THETA
yearn.finance
Filecoin
Cosmos
Amun Bitcoin 3x Daily Long
OMG Network
Terra
Algorand
Ethereum Classic
Massnet
DFI.Money
1inch
IOST
Nervos Network
Band Protocol
Dash
Amun Ether 3x Daily Long
Tezos
Kusama
Ontology
Reef
Horizen
Stellar
Amun Ether 3x Daily Short
NEAR Protocol
Neo
Badger DAO
The Graph
Synthetix
Qtum
Dogecoin
Phala.Network
Waves
Polkastarter
Compound
Monero
Tellor
Amun Bitcoin 3x Daily Short
WaykiChain
Reserve Rights
NEM
Crypto.com Coin
Bounce Token (Old)
BoringDAO
Kava.io
VeChain
TitanSwap
Akropolis
Solana
Ren
Thunder Token
Marlin
NEST Protocol
IOTA
0x
Pearl
Linear
SKALE Network
Bytom
Aragon
Acute Angle Cloud
ForTube
Avalanche
Zilliqa
Loopring
Value Liquidity
Basic Attention Token
GXChain
Decentraland
BOX Token
Elastos
MXC
Nexo
Swerve
Storj
Tierion
Seele-N
Golff
Whole Network
Achain
Civic
API3
Decred
YAMv2
Maker
YEE
Alchemy Pay
ICON
Dai
Cortex
Arweave
The Sandbox
Loom Network
Injective Protocol
Bluzelle
Crust
Orchid
MCO
BitcoinHD
Meta
IRISnet
Chiliz
Darwinia Network
Lambda
Balancer
ARPA Chain
Bancor
Frontier
Origin Protocol
UnlimitedIP
Bitcoin Cash ABC
UMA
Kyber Network
Wootrade
aelf
Aeternity
USD Coin
Ankr
Nebulas
NXM
Kcash
PowerPool
Huobi Pool Token
Stafi
HyperCash
New BitShares
Hedera Hashgraph
Nsure.Network
Content Value Network
Robonomics.network
Status
MediShares
BitShares
nHBTC
AirSwap
Holo
Fusion
Harmony
SunContract
Arcblock
Firo
MX Token
Eminer
v.systems
dForce
Wrapped Bitcoin
Nano
dHedge DAO
Paxos Standard
BillionHappiness
Enzyme
IoT Chain
Steem
Genaro Network
CyberMiles
Matrix AI Network
Hive
BitKan
QASH
SIRIN LABS Token
Cred
GateToken
Dock
NKN
Ruff
NULS
Wanchain
Golem
Litex
Pundi X (Old)
Intelligent Investment Chain
Bibox Token
Davinci Coin
WAX
InvestDigital
TrueUSD
BitUP Token
DigixDAO
SwftCoin
DATx
Lympo
DATA
Smartshare
Carry
SmartMesh
XMax
U Network
BitCapitalVendor
Origo
BeeKan
Yuan Chain Coin
GET Protocol
YouLive Coin
Global Social Chain
FansTime
FairGame
Waltonchain
Promotion Coin
Atlas Protocol
EMOGI Network
Skrumble Network
dKargo
Engine
Project Pai
renBTC
Verge
Odyssey
Siacoin
pNetwork
CNNS
Game.com
VIDY
UGAS
Lisk
Standard Tokenization Protocol
Utrust
Ravencoin
Chromia
Pivot Token
Time New Bank
DeepBrain Chain
Newton
Komodo
Wirex Token
TOP
AI Doctor
EDUCare
QunQun
Electroneum
Power Ledger
Request
TopChain
EduCoin
Egretia
Propy
ShineChain
Medicalchain
Tripio
Polymath
ChatCoin
Gas
Datum
Metal
Content Neutrality Network
Quantstamp
All Sports
Bitcoin Diamond
STK
Portal
BnkToTheFuture
TenX
CVCoin
MyToken
HitChain
Bitcoin Gold
AppCoins
Raiden Network Token
Ripio Credit Network
SALT
CoinMeet
LinkEye
MEX
OST
sBTC
Globalvillage Ecosystem
WePower
ThingsOperatingSystem
Ardor
Matryx
BitcoinX
Lunyr
Beefy.Finance
Zilla
Phoenix Global
Rate3
DigiByte
Groestlcoin
EchoLink
Everex
Nucleus Vision
COVA
Enigma
NeuroChain
AdEx Network
HUSD

Anonymity

Adhering to global regulatory standards, Huobi Global implements stringent KYC and AML procedures.

Reputation

Huobi Global has earned a solid reputation for its longevity, liquidity, and global reach in over 130 countries.

Pros and Cons

Hundreds of tradeable assets
Lots of advanced trading options and features
Dashboard is advanced, and yet user-friendly
Comprehensive and efficient mobile presence
Innovative and secure wallet
Cumbersome account registration process
Low withdrawal limits
Restricted to USA users
Low leverage for margin trading
No investment programs for passive earnings

OKCoin crypto exchange is a well-established platform providing access to a variety of digital assets for traders globally, with a focus on offering fiat-to-crypto trading pairs.

General Information

Year founded: 
2014
Coins Available: 
Bitcoin
Ethereum
Tether
Dai
Stacks
Bitcoin SV
USD Coin
yearn.finance
Bitcoin Cash
Litecoin
STASIS EURO
Uniswap
Compound
Hedera Hashgraph
Polkadot
TRON
Celo
Ethereum Classic
Celo Dollar
USDK
1inch
Aave
Cardano
Adventure Gold
Algorand
Aragon
APEcoin
API3
Arweave
Astar
Cosmos
Avalanche
Axie Infinity
Badger DAO
Bancor
Blockchain Brawlers
Chiliz
Clover Finance
Crypto.com Coin
Curve DAO Token
Convex Finance
dHedge DAO
DIA
Dogecoin
dYdX
Elrond
Enjin Coin
Ethereum Name Service
Flow
Flare
Ampleforth Governance Token
Fantom
Gala
Aavegotchi
The Graph
Internet Computer
ICON
Immutable
Kadena
Kyber Network
Keep3rV1
Kusama
PlatON
Lido DAO Token
LINK
Livepeer
Loopring
Terra
Terra Classic
MAGIC
Decentraland
Mask Network
Polygon
MetisDAO
Mina
Maker
Numeraire
Harmony
Optimism
Perpetual Protocol
Phala.Network
Ravencoin
The Sandbox
Stader
SHIBA INU
SKALE Network
Smooth Love Potion
Synthetix
Solana
Spell Token
Storj
SushiSwap
Tellor
UMA
TerraClassicUSD
WAX
Wrapped Bitcoin
Wing Finance
Stellar
Nano
Tezos
DFI.Money
Zcash
Horizen
Zilliqa
0x

Anonymity

OKCoin enforces KYC verification procedures, mandating users to undergo identity verification to access trading services.

Reputation

OKCoin is recognized for its strong reputation, known for its reliable platform, liquidity, and compliance with regulatory standards.

Pros and Cons

Very low trading fees
Offers advanced trading services and features like futures and margin trading
Very high liquidity
Fiat currency deposits and withdrawals
Top level security
A lower number of cryptocurrencies on offer when compared to other big exchanges
A lower number of crypto pairs on offer
Requires level 2 verification before you can withdraw
Comes only in the English language
Fraudulent insurance claim

Bithumb, established in 2013, is a South Korean cryptocurrency exchange recognized for its significant trading volume.

General Information

Year founded: 
2014
Coins Available: 
Ethereum
Bitcoin
XRP
THETA
Swipe
Anchor Neural World
Hive
MiL.k
Factom
Bitcoin SV
Polkadot
Enjin Coin
Bitcoin Cash
Litecoin
Chainlink
Uniswap
EOS
Cardano
Terra
yearn.finance
Stellar
Qtum
Ethereum Classic
ICON
IOST
TRON
QUEENBEE
NEM
Tezos
Pundi X (Old)
OMG Network
TrustVerse
WaykiChain
Waves
Kyber Network
Loom Network
VeChain
Cred
Zcash
Algorand
AnimalGo
Zilliqa
Cosmos
0x
Metal
The Sandbox
Basic Attention Token
Orbit Chain
Sun
Loopring
The Midas Touch Gold
UMA
Serum
Mirror Protocol
Nestree
Ankr
DAD
Bitcoin Gold
Tachyon Protocol
TEMCO
BORA
BASIC
TrueChain
MXC
PIVX
DragonVein
RING X PLATFORM
Status
FNB Protocol
Crypto.com Coin
BitTorrent
JUST
EFFORCE
QuarkChain
Bitcoin Diamond
Observer
Quiztok
Contentos
WAX
Eminer
Augur
Xensor
All Sports
Aion
Aurora Chain
Proton
WEMIX
Davinci Coin
Lambda
aelf
Dash
Valor Token
Bitcoin Cash ABC
Steem
Power Ledger
ELYSIA
Electric Vehicle Zone
Metadium
v.systems
Precium
Orbs
AMO Coin
MixMarvel
Bezant
FLETA
Function X
Cortex
MovieBloc
Chromia
Waltonchain
GXChain
APIX
CONUN
BOSAGORA
ARPA Chain
Hdac
Multi Channel Influencer Creater Cloud Funding Platform
Stratis
Ontology
Centrality
WeShow Token
CyberVein
Golem
Decentralized Vulnerability Platform
apM Coin
Adappter Token
Origo
SoMee.Social
OneRoot Network
Aeternity
HYCON
WOM Protocol

Anonymity

Adhering to regulatory requirements, Bithumb implements KYC and AML procedures.

Reputation

Bithumb has played a pivotal role in the South Korean crypto market, gaining a reputation for liquidity and reliability. This exchange has great selection of altcoins and high trading volume. 

Pros and Cons

Offers trade in all major coins
Crypto trading bot
Easy to navigate for newbies
Sensible investment portfolios
Top quality customer support service
Very slow account verification process
No referral program
Only for South Korean residents
Supports only KRW as a fiat currency
Not enough information about security

Binance US, launched in 2019, is a prominent cryptocurrency exchange catering to the American market with a wide array of trading pairs and advanced features.

General Information

Year founded: 
2019
Coins Available: 
Tether
Ethereum
Bitcoin
Cardano
Chainlink
Uniswap
XRP
VeChain
Binance USD
Matic Network
Litecoin
Stellar
Algorand
Compound
Elrond
Tezos
Zilliqa
Hedera Hashgraph
Binance Coin
Maker
Solana
USD Coin
ICON
Bitcoin Cash
Horizen
OMG Network
Helium
Band Protocol
IOTA
EOS
Cosmos
Basic Attention Token
Nano
Neo
Dash
Decentraland
Dogecoin
VeThor Token
Zcash
Kyber Network
Waves
0x
Harmony
Orchid
Qtum
Dai
Ontology
Ravencoin
Ethereum Classic
Augur
Storj
PAX Gold
Polygon
Polkadot
SHIBA INU
TRON
Avalanche
Filecoin
Aptos
Lido DAO Token
TrueUSD
NEAR Protocol
Quant
Internet Computer
APEcoin
The Graph
Fantom
Aave
MultiversX
Flow
Immutable
THETA
Axie Infinity
The Sandbox
Optimism
Curve DAO Token
Synthetix
Render Token
Loopring
Mask Network
Threshold
Kava Lend
Ankr
Balancer
yearn.finance
Fetch.ai
Celo
1inch
Enjin Coin
Theta Fuel
Gala
Astar
Kusama
Ethereum Name Service
Audius
SushiSwap
Golem
Kadena
Ocean Protocol
Biconomy
Alchemy Pay
FLUX
Livepeer
SKALE Network
WAX
Celer Network
Illuvium
DigiByte
Lisk
API3
Syscoin
Gitcoin
Stargate Finance
Smooth Love Potion
Ren
Numeraire
Polymesh
Request
Galxe
Cartesi
Radicle
Aragon
Bancor Network Token
Prometeus
COTI
Marlin
Spell Token
My Neighbor Alice
Loom Network
Alien Worlds
Reef
StormX
Mines of Dalarnia
Origin Protocol
Ampleforth Governance Token
LTO Network
SuperRare
League of Kingdoms Arena
DIA
BarnBridge
Clover Finance
Voxies
Alpine F1 Team Fan Token
VITE
Santos FC Fan Token
FC Porto Fan Token
Oasis Network
MIOTA
iExec RLC
Lazio Fan Token

Anonymity

In adherence to US regulations, Binance US implements robust KYC and AML procedures, requiring users to undergo identity verification and ensuring compliance with legal standards.

Reputation

Binance US has established a reputable presence in the American crypto landscape. It's known for its reliability, regulatory compliance, and commitment to providing a secure trading environment.

Pros and Cons

Very low trading fees
Lots of educational resources available
So fast that it processes 1.4 million orders per second
High liquidity to customers
Attention to security, and constant innovation
Not available in some US states
Fewer crypto to crypto pairs than other exchanges
Lengthy identity verification process
Parent company was hacked in 2019
Limited selection of crypto assets

DisclaimerThe information provided on this website is for informational purposes only and should not be considered as financial, investment, or legal advice. Cryptocurrency investments are volatile and high-risk in nature. Consult with a qualified financial advisor and/or tax professional before making any investment decisions. We are not responsible for any loss incurred due to the use of information on this website. Do your own research and exercise caution. Don’t invest unless you’re prepared to lose all the money you invest.
 

1. Centralized Crypto Exchanges - Recommended Method

Centralized crypto exchanges stand out as the recommended method to buy crypto such as Litecoin. They are widely considered the most convenient and secure way to purchase LTC.

CEXs are one of the best places to buy Litecoin because they are well-regulated, comply with industry standards, and may maintain insurance coverage to protect user funds. 

Some of the best examples include Uphold, Binance.US, Kraken, and Coinbase.

Additionally, they tend to provide advanced trading tools, market data, and educational resources to help you navigate the world of Litecoin investing.

You can use a centralized exchange when you register and verify your identity. 
 

2. Decentralized Exchanges

Litecoin is also available for purchase on decentralized cryptocurrency exchanges

DEXs are blockchain-based platforms that facilitate peer-to-peer cryptocurrency trading without a central authority.

On decentralized exchanges, users can swap LTC directly with other cryptocurrencies

You just connect your wallet and swap cryptos with a few clicks.

DEXs often use liquidity pools so that traders can swap various assets within the pool. 

The advantage of using a DEX is the increased security and privacy, as there is no central point of failure or control.

However, the user experience on DEXes can be more complex compared to centralized exchanges, and liquidity may be lower. 

But for those looking to purchase Litecoin in a non-custodial, decentralized manner, DEXes provide a viable option alongside the more mainstream centralized exchange platforms.
 

3. Crypto Wallets

Crypto wallets offer another convenient way to purchase LTC. 

These digital storage solutions, (software or hardware-based) allow you to buy Litecoin directly within the wallet interface.

They work like the usual crypto exchanges do and offer an instant buy feature where you can buy crypto with other cryptos and fiat.

The main advantage of using a crypto wallet to get LTC is increased control and security over your digital assets.

Purchasing Litecoin directly through a wallet like Crypto.com typically involves linking a payment method, such as a bank account or debit card, to the wallet's built-in exchange functionality. 

Most leading wallet providers have integrated Litecoin trading functionality, and using this feature is quick and intuitive.

This approach is particularly appealing for long-term Litecoin investors who prioritize self-custody of their digital holdings.

There's an added benefit to these crypto wallets. Many act as the top crypto lending platforms or the best crypto savings accounts.

This means you can buy LTC and use it as collateral or lend it to others.
 

4. Peer-to-Peer (P2P) Platforms

Peer-to-peer platforms offer another avenue to purchase Litecoin. 

These decentralized marketplaces facilitate direct transactions between buyers and sellers.

They allow you to engage in LTC trades without the involvement of a central intermediary and you can pick who you'll trade with.

P2P platforms often provide escrow services and dispute resolution mechanisms to ensure the safety and integrity of peer-to-peer transactions. 

They can be particularly useful for individuals who value privacy or prefer to acquire Litecoin without the need for extensive identity verification procedures required by some exchanges.

The process typically involves browsing available LTC offers, negotiating terms with sellers, and securely completing the trade using the platform's integrated payment and messaging tools.

P2P platforms provide a flexible decentralized option for purchasing Litecoin.
 

5. Cryptocurrency ATMs

Cryptocurrency ATMs are specialized machines located in various public spaces. There, you can buy Litecoin using cash or a debit card.

To buy LTC with a crypto ATM: 
 

  • Select the “Buy Litecoin” option
  • Insert cash or a debit card
  • Receive the Litecoin directly to a compatible wallet address provided during the transaction

Cryptocurrency ATMs can be particularly useful for individuals who prefer a more tangible and immediate method of purchasing Litecoin. 

You won’t have to navigate online platforms. You likely won’t have to go through extensive identity verification processes either. 

However, it's important to note that the fees associated with ATM transactions may be higher compared to other Litecoin acquisition methods.
 

6. Over-the-Counter (OTC) 

Over-the-counter trading is convenient for large-volume Litecoin transactions. 

It involves direct negotiation and execution of trades between buyers and sellers, often facilitated by specialized OTC desks or brokers.

The main advantage of OTC trading for Litecoin is the ability to execute sizable orders without significantly impacting the broader market price. 

This can be particularly useful for institutional investors, high net worth individuals, or those looking to acquire large quantities of LTC while minimizing the price slippage that may occur on traditional exchanges.

OTC desks tend to provide personalized service, custom trade parameters, and enhanced privacy for these large-scale Litecoin transactions. 

However, the OTC market tends to have higher minimum trade sizes and may have more extensive KYC and AML requirements compared to mainstream crypto exchanges.
 
 

Alternative Ways to Buy LTC

In addition to the most popular methods for purchasing LTC, such as centralized exchanges and crypto wallets, there are more ways to get this digital asset. 

These methods can cater to the unique needs and preferences of investors, providing additional flexibility, convenience, and accessibility in the LTC acquisition process.

Alternative ways of purchasing LTC include:
 

  • PayPal
  • Venmo
  • Credit/debit card
  • Telegram
  • Mining
  • Gift cards and vouchers
  • Cryptocurrency funds

 

PayPal

You can purchase Litecoin directly within your PayPal digital crypto wallet (similar to Cash App). 

This integration allows you to seamlessly convert fiat currencies into Litecoin.

It’s making the process of acquiring LTC as simple as any other online transaction.
 

  • Sign up on PayPal
  • Choose crypto in “Finances”
  • Choose LTC and click “Buy” to set an amount
  • Choose payment method
  • Check and confirm the transaction

 

The advantage of using PayPal to buy crypto like Litecoin lies in the platform's user-friendly interface, widespread adoption, and robust security features. 

PayPal's Know Your Customer (KYC) protocols also provide an added layer of verification. 

PayPal is ideal for those who prioritize compliance and oversight in their cryptocurrency investments.

However, it's worth noting that PayPal's custody of the Litecoin assets means you do not have direct control over your private keys.
 

Venmo

Venmo, the popular mobile payment app owned by PayPal, has also integrated Litecoin and other cryptocurrencies into its platform, providing users with another convenient option to purchase Litecoin.

The Venmo app allows you to easily convert your fiat currency balances into Litecoin in several steps:
 

  • Sign up on Venmo or log in
  • Select the “Crypto” tab
  • Select the crypto you want
  • Set the amount and review the fees
  • Select the payment method
  • Send your crypto to a wallet or keep it on Venmo

 

This can be particularly appealing for younger or more tech-savvy investors who are already familiar with the Venmo platform.

However, like PayPal, Venmo maintains custody of your Litecoin. 

This means you don’t have direct control over your private keys. 

This tradeoff between convenience and self-custody should be carefully considered if you’re looking to acquire LTC  through the Venmo app.
 

Credit/Debit Card

Purchasing LTC with a credit or debit card is a straightforward option that can appeal to a wide range of investors. 

By linking your card to a cryptocurrency exchange or digital wallet, you can quickly and conveniently buy Litecoin with just a few taps or clicks.

This method is familiar and accessible. Most people already have a credit or debit card and are comfortable using it for online transactions. 

Additionally, card-based purchases can be completed relatively quickly, making it a viable option for those who want to acquire Litecoin faster.

However, it's important to be mindful of any additional fees or exchange rate markups that may be associated with credit/debit card Litecoin purchases. 

For example, some credit card issuers may see crypto purchases as cash advances.

These can impact the overall cost of your investment.
 

Telegram

Although Telegram is primarily a messaging platform, it has also emerged as a medium for purchasing LTC through its integrated cryptocurrency exchange features. 

By utilizing Telegram's built-in wallet and trading capabilities, users who value anonymity and decentralization can engage in peer-to-peer Litecoin transactions directly within the messaging interface.

The appeal of buying Litecoin on Telegram lies in its privacy-focused approach and the ability to connect with a global network of potential LTC sellers. 

For instance, you can join cryptocurrency-focused groups or channels where individuals might offer to sell LTC.

Transactions can be arranged through private messages or trading bots.

However, caution is advised when using Telegram for Litecoin purchases, as the platform's decentralized nature may introduce additional risks.

There’s a high potential for scams and a lack of regulatory oversight, compared to more established cryptocurrency exchanges.
 

Mining

While not a direct purchasing method, you can acquire LTC through mining by contributing computing power to the Litecoin network and receiving rewards in LTC. 

Mining involves using computer hardware to contribute computational power to the Litecoin network. 

The hardware verifies transactions and adds new Litecoin blocks to the blockchain.

Litecoin's mining process is based on the Scrypt algorithm. It is designed to be more memory-intensive than the SHA-256 algorithm used by Bitcoin.

This makes Litecoin mining less dependent on raw computational power and more accessible to individual miners using regular computer hardware, rather than specialized application-specific integrated circuit (ASIC) miners.

The Scrypt algorithm's memory-hard nature aims to create a more egalitarian mining landscape, allowing a broader range of participants to contribute to the Litecoin network and earn rewards. 

This contrasts with the more capital-intensive Bitcoin mining industry, which has become increasingly dominated by large-scale ASIC mining operations.
 

Gift Cards and Vouchers

Certain cryptocurrency exchanges and service providers allow users to purchase Litecoin by redeeming prepaid gift cards or vouchers, often obtained from traditional retail outlets.

This approach can appeal to individuals who prefer to maintain a degree of anonymity in their Litecoin purchases or who do not have access to traditional banking services. 

Additionally, gift card and voucher purchases can be a convenient way to acquire Litecoin as a gift or for specific, limited-time transactions.

However, you should be mindful of any fees or exchange rate limitations associated with this method, as they may impact the overall cost and efficiency of the purchase.
 

Cryptocurrency Funds

In addition to the individual acquisition methods, investors can also consider gaining exposure to LTC through cryptocurrency investment funds. 

These professionally managed funds pool investor capital to strategically allocate resources across various digital assets, including Litecoin.

The advantage of using a cryptocurrency fund is the potential for diversification, as well as the ability to leverage the expertise and research of the fund's investment team. 

This approach can be particularly appealing if you lack the time or technical knowledge to manage your own Litecoin purchases and holdings.

However, it's important to carefully evaluate the fund's fees, investment strategies, and track record to ensure it aligns with your Litecoin investment objectives and risk tolerance.
 
 

How to Store LTC

To securely store your LTC, it's recommended to use a cryptocurrency wallet. 

Wallets can be classified as hot, which are connected to the internet, or cold, which are offline devices. Read more about both options below.
 

Hot Wallets

Hot wallets are digital crypto wallets connected to the internet. They’re great for easy and frequent access to your Litecoin holdings. 

These include web-based, mobile, and desktop wallets provided by various exchanges and service providers.

Hot wallets prioritize convenience but come with slightly higher risk exposure compared to cold storage options.

Exchanges offer mobile apps that double as wallets. One such example is KuCoin where you can also use its famous trading bots.

Trust Wallet is another software wallet to check out.
 

Cold Wallets

Cold wallets, also known as hardware wallets, are physical devices designed to securely store your LTC private keys offline. 

These wallets offer the highest level of protection against cyber threats, as they keep your digital assets disconnected from the internet. 

This makes them the preferred choice for long-term Litecoin holders who prioritize maximum security over immediate accessibility.

Read our Ledger review for the best example of a hardware wallet.
 
 

Why Should You Buy LTC? What is it Good For?

Litecoin is a compelling cryptocurrency investment for several reasons.
 

  • Faster transactions: LTC is designed to have faster transaction confirmation times compared to Bitcoin, making it more suitable for everyday purchases and smaller transactions. This speed advantage can be particularly useful for businesses and individuals looking to facilitate quicker payments
  • Lower fees: Litecoin's network typically has lower transaction fees than Bitcoin, making it more cost-effective for moving smaller amounts of money. This can be advantageous for micro-payments, remittances, and other financial applications where minimizing fees is a priority
  • Circulating supply: LTC has a larger maximum supply of coins compared to Bitcoin, providing more availability and potential for growth
  • Easier mining: the implementation of Litecoin’s hashing algorithm, Scrypt, makes mining the coin easier by allowing regular computer hardware to be used for mining
  • Established and stable: As one of the oldest and most well-established cryptocurrencies, Litecoin has a proven track record of stability and security. This can provide investors with a greater sense of confidence when adding LTC to their portfolios
  • Diversification: Incorporating Litecoin into a broader cryptocurrency investment strategy can help diversify your digital asset holdings, potentially reducing overall portfolio risk and exposure to the volatility of any single cryptocurrency
  • Merchant adoption: Litecoin's fast transaction times and low fees have led to its adoption by various merchants and service providers, increasing its real-world utility and use cases beyond just investment purposes

 

 

Why Trust Us?

At CryptoManiaks, our knowledgeable team is dedicated to analyzing and testing various aspects of the crypto space. 

We have developed a deep understanding of the technical aspects, security considerations, and best practices surrounding Litecoin and other digital assets.

Our commitment to providing accurate and up-to-date information allows us to guide you through both simple and complex steps you need to take when investing, holding, and managing cryptocurrencies.

When learning how to buy Litecoin or explore other cryptos, our in-depth knowledge and hands-on experience provide a valuable resource for investors of all levels. 

Our guides will help you navigate purchases of Litecoin and other cryptos with confidence, ensuring your investment decisions are well-informed and aligned with your financial goals.

Frequently Asked Questions

Who is the creator of Litecoin?

The creator of Litecoin is a mysterious individual or group known by the pseudonym “Satoshi Lite.” Just like the creator of Bitcoin, Satoshi Nakamoto, Satoshi Lite wanted to remain anonymous. The identity of Satoshi Lite has never been revealed. However, it is widely believed that Satoshi Lite was a highly skilled programmer with a deep understanding of blockchain technology. Their vision for Litecoin was to create a faster and more efficient alternative to Bitcoin.

Who determines the price of Litecoin?

The price of Litecoin is determined by a combination of factors. Ultimately it is influenced by the market forces of supply and demand. LTC price is primarily determined by the actions of buyers and sellers on various cryptocurrency exchanges. Additionally, external factors such as news events, regulatory developments, and overall market sentiment can also impact the price of Litecoin.

Can I buy fractional amounts of Litecoin?

In 2024, buying fractional amounts of Litecoin is not only possible but also widely practiced. Just like with other cryptocurrencies, you can buy fractional amounts of Litecoin on a cryptocurrency exchange. This flexibility in purchasing options has made investing in Litecoin more accessible and convenient for individuals with varying budgets and investment goals.

Is there a minimum investment required to buy Litecoin?

In 2024, the minimum investment amount for purchasing Litecoin is around 0.1 LTC and PayPal lets you invest as little as $1. The minimum investment may vary depending on the exchange or platform you choose to use, so make sure to check with your chosen provider for their specific requirements.

Who accepts Litecoin as a form of payment?

Litecoin has gained widespread acceptance as a form of payment across various industries. Many online retailers, including major e-commerce platforms and marketplaces, have integrated Litecoin into their payment systems. Additionally, numerous brick-and-mortar stores, restaurants, and service providers now accept Litecoin as well. Some notable examples include global brands such as Amazon, Starbucks, and Microsoft. Furthermore, several travel agencies and airlines now allow customers to book flights and accommodations using Litecoin.

Who should I contact if I encounter issues while buying Litecoin?

If you encounter any issues while buying Litecoin, the best course of action is to reach out to the customer service of the exchange you’re using. Alternatively, reach out to the support team of the e-wallet you’re on. If you’re trading via Telegram bot, get in touch with bot developers.

Written by

Rica was a local news writer in the Philippines from 2011 to 2019. During the 2020 COVID pandemic, she fell in love with cryptocurrency and expanded her writing expertise to blockchain, NFTs, Web3, and FinTech. She is also well-versed in the financial markets, specializing in daily market news and price predictions. When she’s not writing, you’ll find her singing and dancing to K-Pop music!

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