How To Purchase Litecoin in 1 minute [with card, cash or beautiful smile]
Wondering how to purchase Litecoin in 1 minute with a card, Paypal, cash or beautiful smile?
Well, for the first 3 options this is the best guide on the web.
But if you were hoping this is the guide on how to purchase Litecoin with a smile – that ain’t possible – grow up 😀
Why Purchase Litecoin
The year of 2018 has been challenging for the growth of cryptocurrency prices.
While many people are concerned about the future of this financial system, a lot of people recognize that right now is the best opportunity to buy and hold onto cryptocurrencies that have a large growth potential.
One of the most talked about cryptocurrencies and the silver to Bitcoin’s gold is Litecoin. Having seen a spectacular growth over the last quarter of 2017, Litecoin is trading at $76-78 at the time of this writing. Having reached $347 last December, Litecoin is now considered to be a very underpriced coin.
And so the aim of this guide is to help you purchase Litecoin in 1 minute.
We will show you detailed steps on how to purchase Litecoin, the most popular of which are bank transfer, debit card purchase, Paypal, and cash.
How To Purchase Litecoin
In order to purchase Litecoin you will have to make an account at an exchange that sells Litecoin. These act as the third party that takes care of the exchange. There are many options available but, the easiest and fastest way to acquire Litecoin is through Paybis.
Paybis is a cryptocurrency exchange that is safe to use and perfect for people who are not very technical.
Moreover, it has the highest rating on Trustpilot of any other Crypto Exchanges – 9.2 out of 10
Unlike other exchanges, no complicated verification processes are required to sign up. In 5 easy steps, we will explain in detail how you can purchase Litecoin fast and easy.
Step 1: When you register (you can do this very easily by connecting your Facebook profile) and find yourself on the dashboard of Paybis, you will see a column on the left side explaining all the methods you use to purchase cryptocurrency. For this example, and because it is the most used method of purchasing cryptocurrency, we will select either Credit Card or Sepa bank transfer.
Step 2: You will be buying Litecoin. Therefore, on the right column, choose Litecoin from the options available.
Step 3: Select how much USD you will be spending to purchase Litecoin. The amount will be used to purchase an equivalent value of Litecoins.
Step 4: Following the third step, and before you complete the purchase, you can see how much Litecoin you will receive with your purchase.
Step 5: Click on start transaction. Make sure all the steps above have been filled out correctly. Paybis will send you your Litecoin to your wallet so you will be able to use it and transfer it in any way you see fit.
How to buy Litecoin with Paypal
There is no direct way to buy Litecoins with PayPal. You will first have to buy bitcoins with
PayPal which is also quite an extensive process. Once you buy the bitcoins you will have to convert them to Litecoins.
To do this sign up at Localbitcoins and go to the Buy page on the top of the page. In the payment method, select Paypal and then press on search. It should look similar to this:
- Head over to buy bitcoins section
- Select your region
- Insert amount
- And hit search
- Within seconds you will be able to find all the offers for people that are willing to sell bitcoin for cash
After you have found a potential candidate, you can now buy Bitcoin with Paypal. It usually takes 90 minutes for a transaction to be completed. After you have received your Bitcoin you can exchange your coins to Litecoin using a service such as Changelly or Shapeshift, both of which are free to use and very easy to understand.
It is somewhat unfortunate that this is the best way to buy Litecoins with PayPal, but at this moment it is the only way you can use to make your purchases using this medium.
How to Buy Litecoin with Cash
There is no good way to buy Litecoins with cash.
LocalBitcoins, once again, is the most popular way to buy Bitcoin with cash, and it does not have Litecoin support. Other popular cash to Bitcoin exchanges like BitQuick and Wall of Coins also do not support LTC.
So you will have to first buy bitcoins with cash and then exchange them for LTC using the method described above.
The same goes for Bitcoin ATMs. Most do not support Litecoin. So if you want to buy Litecoins at a Bitcoin ATM you first have to buy bitcoins and then trade the BTC for Litecoins.
Frequently Asked Questions
What are the risks of buying Litecoins?
The price of Litecoin could always lose its value and even go to zero. One needs to invest only what he is willing to lose.
Another risk is to leave your Litecoin on an exchange. Given the fact that exchanges hold all the private keys to your exchange wallets, they could easily freeze your account or accidentally have your funds stolen by cyber attacks.
Can you sell Litecoin?
If you choose to sell you Litecoin you can easily do so on Coinbase and other exchanges that support Litecoin. The most popular and widely used exchanges for this purpose are Binance, Kraken and Poloniex. The average of fees and speed of the transaction is similar in most cases.
Can you buy partial Litecoins?
Yes, Litecoin, like Bitcoin, is divisible by 8 decimals so you can buy 0.1 LTC, 0.00000001 LTC, etc.
Can anyone buy litecoins?
Anyone is free to buy Litecoins, as long as you find an exchange that supports your country. Most cryptocurrency wallets do not require ID to sign up so you can always make a wallet and get paid in Litecoin, too. Of course, some countries do not allow cryptocurrency trading, but the regulations keep changing at a very fast pace, making a definite answer difficult to provide.
Which payment method is best to use?
For speed, credit/debit cards will likely be the fastest medium. For larger financial amounts, bank transfers are best. For privacy, it’s best to buy bitcoins using cash and then trade for Litecoins using Changelly or Shapeshift.
How should I store my Litecoin?
Once you complete your purchase, you should immediately move your Litecoins into a secure (private) wallet. You should never leave your Litecoins on an exchange as you will not be the only one who is able to control your finances.
There have been many occasions where digital attacks on cryptocurrency exchanges caused the loss of many millions of dollars. Hundreds of thousands of people have lost money that they will never be able to retrieve. Therefore, buy your Litecoins, send them into a wallet you control and feel secure knowing you are the only one who can control your finances.
As Litecoin and cryptocurrency, in general, continues to grow, it will likely become much easier to buy and trade. As we are entering a phase of mass adoption, there will be much more demand and, therefore, easier means to obtain Litecoin.
Litecoin Price predictions
Currently, Litecoin finds itself in a very underpriced position. As the first 2 quarters of 2018 were labeled a “bear months”, we saw the price of Litecoin decline 75% since its highest price point. Given the market follows the chronological pattern it has followed until now, we expect to see Litecoin increase in price towards the year 2018.
According to George Tung, cryptocurrency analyst, Litecoin is expected to surpass that $1000 mark by year’s end. Oracle times and Long forecast also see Litecoin hitting the $1000 soon.
These predictions come to us by calculating the linear growth of Litecoin over the timeframe of its existence. The current dip we are experiencing is nothing but a blip, many say, and happens each and every year.
So there are 3 options:
–> You can purchase Litecoin via Paybis and within 1 minute and it will be in your wallet straight after
–> Plan B – You can buy Bitcoin with PayPal or Cash and then exchange it for Litecoin on a crypto exchange – this, of course, is more time consuming
Feel free to choose whichever option suits you better.
And if you need help with anything – feel free to leave your questions in the comment section down below.