How to buy Litecoin LTC in the UK 2023

how to buy litecoin

In any case, we find that the lion’s share of cryptocurrency brokers charge a variable commission fee. This variable fee is charged against the value of your LTC position. Whilst this might sound appealing, we should mention that these crypto exchanges are often unregulated – therefore you are heightening your risks. He began his financial writing career in 2005 as a marketing copywriter, which is how he refined his investing knowledge and skills. Over the years, he’s written editorial and marketing pieces for many of the world’s leading financial newsletters and publications. His main investing interests are technology, blockchain and cryptocurrency.

Coinmama allows you to instantly buy Litecoins with your credit card, debit card or a wire transfer, including SEPA/Swift transfers. They accept users from most countries around the world (but excludes the US states of New York and Hawaii). One type of cryptocurrency that is secure, private, and untraceable is Monero. Your accounts and transactions are protected from prying eyes, and only you have control over and responsibility for your money.

Make a deposit

There is no such thing as risk-free trading, no matter what the financial asset. If you time the market and predict the rise or fall of Litecoin correctly, you will make gains. In this guide, we have talked about a wide variety of factors to be mindful of when electing to buy Litecoin online. Hopefully, you feel ready to join the droves of investors buying cryptocurrencies every day.

Depending on network congestion, transactions on Litecoin are completed within seconds. There are so many brokers that now offer Litecoin trades compared to a few years ago. However, we recommend eToro given its reputation in the burgeoning crypto space. Cardano is also in the same fold as Ethereum and is set to change the entire DeFi and blockchain ecosystem. Despite being in development, Cardano currently occupies the third position on the crypto chart. This shows that several investors are keen to buy into the Cardano dream.

Where to Buy Litecoin in the UK?

To buy Litecoin with a debit card all you have to do is enter your details as normal, stating how much you want to buy. When you want to cash out your digital coins, the platform will send the funds to the same card. Due to KYC rules, your funds will be added to the payment method used to buy the digital currency in the first place.

  • Also, Binance and KuCoin allow clients to pay fees with their native cryptocurrencies, reducing costs by 25%.
  • However, newer networks are built to accommodate high volumes without significant changes to transaction fees.
  • The easiest way to access the account interface is to visit the main website then click on the login link on the right side of the main navigation bar.
  • Bitcoin has seen large mining corporations seize the mining business from individuals.

EToro’s social investing features distinguish it from its competitors, making it easy to connect with and learn from other Litecoin traders. You can even view stats on other users’ risk profiles and profit margins, and choose a successful trader to copy with the unique CopyTrader feature. Cryptocurrencies are speculative and investing in them involves significant risks – they’re highly volatile, vulnerable to hacking and sensitive to secondary activity.

How to Buy Litecoin Without Verification?

The user is also allowed to cancel the order manually before hitting the execution price. You will notice that the order form is a little different with two new animated gray tabs with directional arrows sandwiched between the larger tabs. Choose either Bank Deposit or Debit card by clicking on the corresponding [+] symbols next to each option. To buy LTC coins, use the third column to the right with the title “Anything to Anything,” meaning to convert any supported asset to another supported asset. Uphold maintains a separate user interface for informational purposes and another for account use.

how to buy litecoin

You should bear in mind that all cryptocurrencies are unregulated in the UK. Wallets are important because they store your valuable cryptos, so choosing the right one is crucial. Hardware wallets store cryptos offline on a device while software wallets store cryptos online and are always connected to the internet. There is also a risk of rug-pulls, blockchain attacks, and wallet hacks. These are technological risks that involve an attacker hacking a crypto’s blockchain network or your wallet and usually ends with funds getting stolen. Crypto can be used as a long-term store of value, especially those with a finite maximum supply, like Litecoin.

Frequently asked questions about buying Litecoin cryptocurrency

Then click “Transfer to Wallet” and the specified amount to send. In conclusion, buying Litecoin (LTC) in the UK is now more accessible than ever, thanks to user-friendly platforms and exchanges. Yes, Litecoin and other cryptocurrencies are subject to taxation in the UK. The UK tax authority, HM Revenue & Customs (HMRC), treats cryptocurrencies like Litecoin as taxable assets rather than currencies.

  • Each block on the Litecoin network has a larger size and can store more data than the blocks on the Bitcoin network.
  • After completing these steps, you can begin mining Litecoin and watch your holdings grow.
  • You can also sell or short your Litecoin position if you determine that the asset may drop in a few hours.
  • In just one­ week, Litecoin outpe­rformed the broader cryptocurre­ncy market by surging nearly 30%.
  • It is an easy-to-use software designed specifically for Litecoin.
  • So once you buy your Litcoin, use one of the wallets below to store it.

Like other cryptocurrencies, Litecoin is housed in an online wallet. It is vital to have a Litecoin wallet as it’s your gate pass to obtaining the altcoin. Before bitcoin can become a proper means of payment, it still has some hurdles to scale through. Overall, transacting with bitcoin is how to buy litecoin quite slow, making day-to-day transactions difficult. Also, bitcoin is generally seen as a “store-of-value” tool rather than a payment mechanism. If you want to pay using another method, you can always purchase Bitcoin and then use a crypto-to-crypto exchange to buy Litecoin in the UK.