How to Buy Litecoin (LTC)
Litecoin (LTC) is one of the very first projects to copy and modify Bitcoin’s code and use it to launch a new cryptocurrency.
Created by developer Charlie Lee in 2011, Litecoin’s software sought to differentiate from Bitcoin with changes aimed at accelerating transaction confirmation times for merchants.
Branded the “silver to bitcoin’s gold” in promotional materials, Litecoin shares many similarities with Bitcoin. Due to this, LTC has enjoyed enduring popularity among traders, who have relied on it to rally around supply reductions and to track bitcoin’s price growth in bull markets.
If you’re new to crypto and looking to buy LTC for the first time, be sure to check out our “What is Litecoin?” guide for a more comprehensive deep dive.
Ready to get started?
If you’re more advanced and looking to get right in and start trading, go ahead and get some Litecoin!
Buy LTC
Why buy LTC?
Litecoin is intended to be a decentralized, peer-to-peer form of payment, so many traders purchase LTC in the hope that one day it will be widely accepted by merchants.
How to Buy Litecoin LTC
Other reasons you may want to buy LTC
Use it to pay for goods and services
Make it part of a long-term trading strategy
Send money to friends and family
Time the market to go after short-term profits
Where to buy LTC?
Direct Purchase
You can purchase it directly from another individual in person or over the web.
Crypto ATM
You can try to locate a crypto ATM near you that offers LTC. However, the ATM rates can be exorbitant and there is no guarantee that you can find a counterpart to make the trade with.
Exchange
Many find that it is easiest to purchase it through an exchange, like Kraken.
Aside from offering a simple interface and the lowest fees in the industry, Kraken is constantly rated one of the most secure and trusted crypto exchanges in the world. This matters because once crypto is lost, it is nearly impossible to recover.
At Kraken, we take security seriously with state-of-the-art technology, policies, and procedures that protect client funds. We do not compromise when it comes to security, and neither should you.
How much LTC can I buy?
Looking to buy LTC on a budget? Don’t worry, Kraken offers a minimum order size of 0.1 LTC to help you gain exposure to a variety of assets.
Of course, you can also execute larger LTC buy orders as well. It wouldn’t be out of the ordinary for larger traders to purchase or trade 2,000 LTC or more on Kraken.
LTC Price
How to buy LTC on Kraken
Create an account
Provide an email address, choose a username, and pick a strong, secure password.
Complete the verification process
With “Starter” verification, you can buy LTC with other cryptocurrencies. All you need to do is provide your name, date of birth, country and phone number. If you’d like to use fiat currencies, like USD or EUR, you’ll need to provide additional support documents verifying your identity. For more information, see our verification levels documentation.
Deposit fiat or cryptocurrency
To deposit crypto, just create a deposit address and send the funds to this address. Funding your account with fiat currencies for trading can be done in a number of ways, including SWIFT, SEPA and domestic wire transfers. The option you select will be based on your location and preference.
Buy LTC!
Once your fiat or cryptocurrency hits your account, you’re ready to start buying LTC. With your Kraken account you’ll also have access to our charting tools, 24-hour global client support, advanced order types, and leveraged trading.
24/7/365 Customer Support
Trading is really pretty simple! If you have any questions about buying litecoin, let us know. Our support staff is online all day, every day, ready to help.
You can reach us anytime on LiveChat or by email.
buy litecoin ltc
Where to keep your LTC
Once you’re done buying litecoin, you should look for a way to secure it. The best way to do this is with a wallet. A wallet is a device or software application that stores your crypto but also allows you to spend it.
There are many types of wallets you can use to keep your digital assets safe. Mobile and web-based wallets make frequent transactions easy. Hardware wallets are best suited for secure, long-term storage. When you’re choosing a crypto wallet, think of what you plan to do with your tokens. A wallet that best suits your needs is always the right choice.
In March 2014, the IRS stated that all virtual currencies, including bitcoins, would be taxed as property rather than currency. Gains or losses from bitcoins held as capital will be realized as capital gains or losses, while bitcoins held as inventory will incur ordinary gains or losses. The sale of bitcoins that you mined or purchased from another party, or the use of bitcoins to pay for goods or services are examples of transactions which can be taxed.9