Buy Litecoin With A Credit Card [UPDATED]
While there are multiple ways to buy Litecoin, more and more customers are opting to buy Litecoin with debit card or credit card. Our clients value the possibility to buy Litecoin instantly and the low credit card fees of ours.
buy litecoin with a credit card
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One of the biggest advantages of using Coinbase is that they allow you to deposit and withdraw funds using a range of real-world payment methods. Guess what? This means you can buy Litecoin with a credit card, debit card, and even a bank account!
The fees to using a credit/debit card amount to 3.99% of the total transaction amount. For example, if you deposit $1,000, then you will have to pay $39.99 in fees. Although this is quite high, Coinbase has to do this to protect itself from credit card chargebacks.
When it comes to security, Coinbase is one of the safest exchanges to trade. 98% of customer funds are held in cold storage, two-factor authentication is available and if holding them in a USD wallet, funds are protected up to $250,000. Furthermore, other features such as a 48 hour withdraw time-lock and multi-person signatures are also available.
Coinmama is a cryptocurrency broker based in Israel. Created in 2013, they allow users to buy a total of eight different cryptocurrencies. This includes Litecoin, along with Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, QTUM and Ethereum Classic.
Just like Coinbase, Coinmama allows you to buy Litecoin with a credit card or debit card. However, they don't allow you to use a bank account. Coinmama is slightly different from other exchanges because as soon as you have completed your purchase, the Litecoin is sent directly to your wallet!
Available cryptocurrencies include Litecoin, along with Bitcoin, Ethereum, Dash, Bitcoin Cash, and Ripple. One of the greatest features of the Bitpanda platform is that they have one of the largest payment method options.
When it comes to depositing fees at CEX, the exchange will charge you 3.5% every time you use your credit card. On top of this, they also add a small fixed-fee of $0.25. CEX also charge a trading fee of 7%, which is added on to the current market price.
As you are using your credit card to buy Litecoin, you will need to verify your identity before you can deposit. Just like Coinmama, you will need to upload a copy of your ID, as well as a picture of you holding it up next to your face!
Unfortunately, the time it takes for the team to manually verify your identity is quite slow, with users commenting that it normally 48 hours. If you need to buy Litecoin with a credit card straight away, then CEX might not be the right exchange for you!
In terms of security, CEX store the majority of user funds in cold storage, meaning they are held offline. Furthermore, not only is two-factor authentication available, but users can also request account alerts through email or SMS. There has only been one slight issue regarding security, with a 2013 hack resulting in one user having $7,000 stolen from their account. However, there have been no issues since.
When it comes to payment methods, Bitstamp has a range of real-world fiat options available. This includes a bank transfer, as well as a credit or debit card. When using your credit card on Bitstamp you will be charged 5% of the total transaction amount.
Litecoin is one of the most traded cryptocurrencies in the industry, so it makes sense that more and more exchanges are looking to offer credit card services. This makes it easy to buy Litecoin for the first time.
The only problem at the moment is that using a credit card to buy Litecoin can be a bit too expensive. Not only do you have to pay a credit card transaction fee, but then you have to pay trading fees too!
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Cryptocurrencies growing popularity has everything to do with their growing use case in the mainstream financial sector. Moreover, their ability to enable superfast and low-cost transactions has affirmed their use case amid the digital revolution. Litecoin (LTC) is well positioned to revolutionize the global digital payment sector.
Creating an account with a cryptocurrency exchange is straightforward, as you only need to share personal details and show proof of residence. The registration is part of the Know Your Customer policy adhered to by most crypto exchanges. However, buying Litecoin in regulated exchanges might be challenging before you share all the personal information.
Several options for funding the account are usually available depending on the platform. One can fund the account via wire transfers and credit and debit cards. Additionally, crypto exchanges accept electronic payments, including PayPal and Skrill.
Bank transfer is one of the best options as it does not come with additional fees, as is the case with debit and credit cards. However, bank transfers take several days to go through, which might not be suitable for anyone looking to take advantage of a given price at a given time.
Hardware Wallets: The opposite of online wallets, designed to store private keys offline. A paper wallet is a perfect example of a hardware wallet, whereby a user can download the private keys and store them in a safe deposit box offline. While such wallets offer full security proof from hackers, given the offline aspect, it can be challenging to access holdings timely, as is the case with online wallets.
Once you have settled on a cryptocurrency exchange and opened a digital wallet, it becomes easy to purchase some Litecoin. Most crypto exchanges come with a trading platform with a buy and sell portal.
Moreover, a purchase via an ATM can only go through one opening an account with the ATM provider online. In this case, you must follow all the know-your-customer policies, which involve scanning an ID and sharing personal details.
Once all the details are checked out, and the provider approves the registration, you can insert some money into the ATM to make a purchase. In return, you will receive a paper receipt with the codes and instructions on transferring the latch coins to your crypto wallet.
While buying LTC using a credit card is possible, the transaction can only occur in a cryptocurrency exchange. Consequently, you will have to deposit some money from the card. Then, with the amount in the crypto exchange account, you can place a buy order to purchase the preferred amount of the LTC coins.
Litecoin has distinguished itself as a faster and more efficient version of Bitcoin. While it trades at a much lower price, it has consistently ranked as one of the top digital currencies with tremendous potential.
Buying Litecoin can be a wise decision. It was the first altcoin created and is a faster, less expensive option to Bitcoin. These two virtual coins can be considered more complementary to one another than competing against each other. There are many platforms where you can buy Litecoin with Coinhouse, a French trading platform, being one. Our platform is easy-to-use, intuitive and allows you to buy Litecoin and most other popular cryptocurrencies.
In short, our platform makes it easy for you to buy Litecoin quickly and carry out other transactions after you open your free account. Some fees will be higher than those charged for customers with a subscription.
The transaction is made using a bank card or transfer over a highly secure server. To buy Litecoin on Coinhouse, a receiving wallet will be designated. Once you have quickly and easily made your purchase, your Litecoin will be in your Coinhouse account in a matter of moments.
When you own cryptocurrencies, what you really own is a private key, a critical piece of information used to authorize outgoing transactions on the blockchain network. Holding the private keys gives you access to your crypto, like holding a pin code to your debit card; in short it gives you access to your funds.
You can buy Litecoin directly on Ledger Live from our partner Coinify. You will need to create a Litecoin account on Ledger Live, to connect your Ledger hardware wallet and to verify your identity. Once you buy your Litecoin using your payment card or a bank transfer, it will be automatically sent to your hardware wallet, and thus secured.You can check the full list of steps here.
The simpler algorithm that governs Litecoin's network allows for faster transaction processing. Transactions on the Bitcoin network can take up to hours. Depending on network congestion, transactions on Litecoin are completed within seconds.
Crypto exchanges founded and based in the US are required to register with the Financial Crimes Enforcement Network (FinCEN), a division of the US Department of the Treasury. This bureau safeguards the US financial system by working to prevent money laundering, terrorist-financing activity and other financial crimes.
If you want to buy Litecoin, start by comparing a range of crypto brokers and exchanges available in the US. Look at their features, fees, security and overall reputation to decide which platform is the right fit for you. Consider an exchange registered with FinCEN for added peace of mind.
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