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How to buy Litecoin (LTC)

A beginner’s guide to Litecoin (LTC) and how you can buy and sell this cryptocurrency.

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Litecoin (LTC) went live on 13 October 2011 as a fork on the bitcoin network. It’s very similar to bitcoin except it’s designed to be quicker and cheaper to transfer.

These similarities have it regarded as a close relative of bitcoin, and its prices have historically risen and fallen with bitcoin prices.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Quick guide: How to buy LTC

  1. Register for an account with a cryptocurrency exchange like Independent Reserve.
  2. Complete the signup questionnaire.
  3. Verify your account.
  4. Go to the “accounts” tab.
  5. Click “deposit” next to your currency of choice.
  6. Select your preferred payment method and confirm.
  7. Go to the “trade” tab and select the cryptocurrency you want to buy.
  8. Enter how much you want to buy.
  9. Double check the details and confirm your purchase.
Go to Independent Reserve Exchange's site

This is our quick guide to just one way to buy LTC. Compare some other options in the table below.

Where to buy Litecoin in Australia

You can buy or acquire Litecoin in Australia on all of the following platforms, in various ways.

Name Product Deposit methods Fiat Currencies Supported Cryptocurrencies
Cryptocurrency
Electronic Funds Transfer
POLi
SWIFT
PayID
AUD, NZD, USD
BTC, BCH, ETH, LTC, XRP, OMG, ZRX, EOS & 3+ more
Trade AUD and other fiat currencies against a wide range of cryptos at competitive rates.
BPAY
Cash
Cryptocurrency
POLi
AUD
BTC, BCH, ETH, XRP, ADA, XEM, LTC, XLM, TRX, DASH & 120+ more
CoinSpot is an Australian-based marketplace that allows you to easily buy, sell or trade more than 100 cryptocurrencies.
BPAY
Cryptocurrency
Electronic Funds Transfer
Osko
PayID
AUD
BTC, ETH, XRP, LTC, XLM, ETC, OMG, GNT, BAT, POWR, BCHABC, BCHSV
Browse the various coin offerings of this Australian based exchange, where coins can be purchased using AUD, LTC and BTC.
Bank transfer
Cryptocurrency
AUD, EUR
BTC, ETH, XRP, LTC, BCH, EOS
Use AUD and EUR to get cryptocurrency through an international exchange and app.
Credit card
Debit card
Neteller
PayPal
Wire transfer
Online banking
EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK & 4+ more
BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM & 5+ more
Disclaimer: Highly volatile investment product. Your capital is at risk. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Copy the trades of leading cryptocurrency investors on this unique social investment platform.
Bank transfer
BPAY
POLi
Osko
PayID
AUD
BTC, ETC, XRP, BCH, EOS, XVG, LTC, ETH, USDT, XLM & 65+ more
Buy, sell, trade over 70 cryptocurrencies in AU.
Paybis Cryptocurrency Exchange
AdvCash
Credit card
Debit card
Neteller
Payeer
USD, EUR, GBP, CAD, JPY
BTC, ETH, LTC, XRP, BCH, XLM, BNB, NEO, TRX
Buy Bitcoin and other popular cryptocurrencies with credit card or debit card on this digital cryptocurrency exchange.

US residents: Restricted in the following states - NY, CT, NM, WA, HI, AL, VT, FL, AK, NV.
Cryptocurrency
BTC, XBT, ADA, BCH, EOS, ETH, LTC, XRP
Disclaimer: Highly volatile investment product. Your capital is at risk.
Trade cryptocurrency derivatives with high liquidity for bitcoin spot and futures, and up to 100% leverage on margin trading.
Bank transfer
Cryptocurrency
POLi
USD, AUD, SGD, IDR
BTC, LTC, ETH, XRP, EOS
Buy, sell and trade BTC, LTC, ETH, XRP, EOS on this Singapore-based exchange.
Cash
Cryptocurrency
Electronic Funds Transfer
POLi
PayID
AUD
BTC, ETH, XRP, BCH, EOS, XVG, LTC, ADA, MIOTA, TRX, & 100+ more
Buy 100+ cryptocurrencies using POLi, cash or Electronic Funds Transfer.

Compare up to 4 providers

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Litecoin wallets

Litecoin needs to be held in a cryptocurrency wallet just like any other altcoin. There’s a wide range of options, but not quite as many as you’ll find with bitcoin.

Learn more about some of the best wallets for holding Litecoin.

Litecoin (LTC) vs bitcoin (BTC)

Litecoin has a range of small but significant technical differences. You might think of it as the quarter to bitcoin’s dollar.

  • A supply limit of 84 million LTC vs 21 million BTC

The supply limit is the maximum number of coins that will be created. This finite limit is necessary for an altcoin to have value. The LTC supply limit is 84 million compared to bitcoin’s 21 million, so it’s up to 4 times more common. In November 2017 there were about 54 million Litecoin tokens in circulation and about 30 million left to mine.

  • 2.5-minute vs 10-minute block generation time

Litecoin blocks are generated four times faster than bitcoin blocks. The completion of each block confirms the transactions recorded in that block. Generally, this means Litecoin transfers can be done about four times faster than bitcoin transfers.

Learn more about LTC in our beginner's guide.

Litecoin price predictions: Things to consider

Some proponents of LTC believe it will continue to increase in value. They point out that it’s like a “quarter sized” version of bitcoin that’s arguably more functional, but that its price is much less than a quarter of bitcoin’s. The assumption among some buyers is that even if Litecoin prices peak at a quarter of bitcoin’s, it can still be very worthwhile.

Toward the end of 2017 about two thirds of all the Litecoin that will ever exist were already in circulation, and it can be assumed that mining will get increasingly difficult as it approaches the supply limit. This makes it more likely that the popularity of Litecoin will result in increased demand, and if demand exceeds supply in the future, that could naturally drive the prices up.

It’s also worth noting that Litecoin has tended to be ahead of its time. It was the first top 5 cryptocurrency by market cap altcoin to adopt the features of Segregated Witness (SegWit), which has since become standard among bitcoin and others.

This ongoing development might bode well for its future popularity, as it could prevent other altcoins from overtaking it later. However, like all cryptocurrencies, nothing about Litecoin can be taken for granted.

Curious about where Litecoin might be headed? Read our price prediction for 2020.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Images: Shutterstock



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