How and where to buy/sell Litecoin in 2020: A comprehensive guide

Are you interested in how and where to buy Litecoin? Then you’ve come to the right place because that’s what this article is all about. All you need to know about Litecoin (LTC).

Since the introduction of Bitcoin, there is also another cryptocurrency that crypto-fans have been watching – the currency that has recently come to the fore is the Litecoin. Together with the Ethereum, Bitcoin and Litecoin are probably the strongest and most popular crypto currencies – they are also seen as pioneers in the industry. But is it still worthwhile investing in the Litecoin these days?

For those in a hurry: Sell / Buy Litecoin CFDs in three steps

Before you can buy/sell Litecoin, the first step is to create an account with a trading platform that supports the currency. Our choice is eToro. Here, opening an account is particularly easy and doesn’t even require verification for trades up to $2,000. Furthermore the provider is state-regulated and therefore subject to deposit protection.

To open an account you just need to enter your personal details in the login form on the start page.

Now you will receive an email from eToro with a link that you need to confirm. Then you’re ready to go.

To top up your trading account with real money you have to click on the “Deposit money” button at the bottom left. This will open a window where you can select the desired payment method, such as instant bank transfer.

Depending on the chosen method, the payment can now be made and the trading account can be topped up.

If the deposit was successful, the new account balance is now displayed at the bottom of the screen.

With it now the desired currency, in this case Litecoin CFDs, can be bought. The easiest way is to enter the currency in the search field and thus find it. Now in the purchase field the desired adjustments can be made. Here it is also determined for how many Euro you want to buy Stellar.

If you do not want to trade real Litecoin but rather Litecoin CFDs, these can also be found via the search field. But here the tip: CFDs are rather something for experienced investors, because the risk of loss is considerably higher here.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Should one invest in the Litecoin?

Of course, if you look at the technical basis, there are some currencies that make a much better impression. In addition, there are more and more currencies that are becoming faster and also simpler. But if you look at the Litecoin, you will already see a progress towards the Bitcoin.

Furthermore, the past has also shown that in the end it was not always only those products that brought the best technology with them that had to prevail. For example, the VHS video cassette of that time won the so-called format war against numerous other systems, some of which were, however, much better. Of course, this can also happen with crypto-currencies. Because just because there is a digital currency that is technically convincing does not mean that the majority of crypto-fans will be convinced by it.

If you look at various forecasts by experts, you can assume that the Litecoin could well revolutionize payment on the Internet.

On the basis of the market and the fact that there are some advantages that the Litecoin offers compared to other cryptocurrencies, it can be assumed that there will soon be a considerable price increase again. Of course, it is questionable whether the price will once again be in the range of 350 US dollars. But if you invest now, you can still make a good profit – even if the exchange rate is only in the range of 200 US dollars.

The current rate

How to buy/sell Litecoin?

If you want to purchase genuine Litecoin coins, you should look for a suitable crypto exchange. If you prefer to bet on Litecoin CFDs, a reputable online broker will help you.

In both cases, you should pay attention to the transparency of the offer and the seriousness of the provider. The crypto market is booming and new offers appear on the market almost daily. For newcomers it can be quite difficult to keep track of the large offer. Unfortunately there are many fraudulent offers and scams among the many really good exchanges and brokers. For your own safety, it is important to research thoroughly before investing, what you should look out for when making your choice and what possibilities the various offers should offer you, you will find out now.

Differences between Litecoin CFD brokers and stock exchanges

CFD brokers

  • Regulated by government & depositor protection
  • No complicated setup of a wallet necessary
  • Leveraged trading possible
  • Several deposit and withdrawal options
  • Mobile Trading: Apps for Android & iOS available
  • Demo account
  • Only possession of a certificate, not "real" Litecoin
  • Obligation could raise to make additional contributions
  • Risky investment

Stock exchanges

  • Real ownership of genuine Litecoin coins
  • Learning how to handle crypto currencies
  • Wide range of crypto currencies on offer
  • (Partial) trading via leverage possible
  • (Partial) Mobile Trading: Apps for Android & iOS
  • Whoever wants to hold Litecoin in the long term has an advantage here in terms of fees
  • No regulation & deposit insurance
  • You are responsible for the administration of the keys yourself
  • Risky investment

The difference between real Litecoin and Litecoin CFDs

Since there are two ways to buy/sell Litecoin, there are therefore also two different types of Litecoin investments:

  1. Brokers trade Litecoin CFDs, as financial instruments that use the Litecoin price as a basis
  2. With stock exchanges, one trades with “real” Litecoin

Benefits to use a Broker

Functionality: When you buy Litecoin CFDs, you bet on the performance of the coins and do not receive any real coins. You do not own this crypto-currency in its physical-digital form, but rather deal with the price development. You can imagine the whole thing like this: If the Litecoin price rises or falls, your CFD also rises or falls. You can choose the Litecoin price in a 1:1 ratio or work with a lever.

Leverage: For example, if you use a leverage of 10, then your CFD rises and falls 10 times as much as the actual Litecoin price. This has the advantage that your profit is also 10 times as high. The disadvantage is that this CFD leverage is also associated with great risks.

If you do not cope with price fluctuations and excitement so well, the CFDs are perhaps not the right investment for you. You can also use CFDs at Plus500.

Top 3 Broker to buy/sell Litecoin CFDs

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Trading leveraged products such as CFDs carries a significant risk of loss and may not be suitable for all investors. 76.4% of individual 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.

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Trading leveraged products such as CFDs carries a significant risk of loss and may not be suitable for all investors. 66% of individual 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.

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Trading leveraged products such as CFDs carries a significant risk of loss and may not be suitable for all investors. 83% of individual 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.

How stock exchanges work

Litecoin Coins: Buying Litecoin coins has the great advantage that you can hope to increase the value of the currency here. If Litecoin is developing as rapidly as Bitcoin, an investment could definitely be worthwhile at this point in time. Because at the moment prices are low and hopes are high. To store your coins safely, you need a wallet. When choosing your wallet, make sure you choose a reputable provider.

Crypto bots: this way you can see Litecoin coins as a long-term investment or you can sell them on at the next possible high, i.e. actively trade them. Here too, there are opportunities for profits. You can also leave trading to a crypto bot. These crypto trading robots are becoming increasingly popular on the crypto scene because they take over trading fully automatically. The disadvantage is that you do not have to do the trading yourself and trading crypto currencies can be quite exciting!

Top 3 stock exchanges to buy/sell Litecoin

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✔ no spreads, but transaction fee

What happens after the Litecoin purchase?

Especially as a newcomer to the world of crypto, you may wonder what happens after buying digital currency. This is how it continues:

The storage

If you have bought coins, you need, as already mentioned, a digital wallet. If you have already opened an account at a so-called crypto exchange, you also have such a storage facility – but if you do not have an account at an exchange, you have to look for a wallet provider.

The problem here is that the private key with which the wallet is controlled remains in the possession of the exchange. This means that there is actually a small security risk here. Even if today’s stock exchanges are all at the cutting edge of security technology, this does not mean that a hacker cannot succeed in getting hold of the private key.

The sale

If you want to sell your coins because the price has risen, they can be offered on an exchange at any time. Due to the fact that you don’t have to offer your coins on the exchange where you bought them, you can compare fees in advance. The fees charged by the exchanges differ greatly, so it is advisable to get an overview in advance.

Litecoin - The conclusion

If you want to trade Litecoin, it’s relatively easy as fast as possible – even a beginner, who hasn’t been interested in the topic so far, will probably have no problems. Due to the fact that there are different possibilities as well as platforms, you can make a comparison in advance and answer the question for yourself, which possibility seems to be especially attractive.

But even if there are some experts who think that the price of the Litecoin will go up, in the end they are only prognoses – you never know if there will actually be a rise in the price. So no matter how good the forecasts are, you should always remain cautious.

Frequently asked questions about buying Litecoin

The Litecoin is often referred to as “real” as well as “genuine” crypto currency. This means that from the very beginning, the intention was to provide a pure means of payment with the Litecoin. The creators behind the Litecoin hope, of course, that soon it will be possible to pay with the coins in real life – the same hopes are pursued by Bitcoin as well as Ripple. From the World Wide Web into the shop? Why not?

The Litecoin not only convinces due to very low transaction fees, but also scores with a very fast transaction speed, so that services can be paid for easily and quickly.

This is also the reason why more and more speculators as well as private investors invest in the Litecoin. Because it almost looks as if the Litecoin – compared to the Bitcoin – will continue to develop and become faster. Bitcoin, on the other hand, struggles with a non-existent scalability as well as a relatively slow transaction speed.

If you take a look at the history of the Litecoin, for example, you will see at the beginning that the share price has developed quite steeply so far. However, the price of the Litecoin has adapted to the extremely strong percentage fluctuations, which were naturally given by the Bitcoin. The increases in value were however, at least calculated over several years, much greater – that is, here a positive trend can certainly be recognized.

Why does the Litecoin sometimes depend on the development of Bitcoin? First and foremost it is a very similar technology. The Blockchain is not only used for Bitcoin, but also for the Litecoin.

Moreover, in both cases, so-called mining, i.e. the digging of coins, is also possible. This means that the currency will only develop further if more and more users participate in the digital currency. The number of Litecoins is also limited – the maximum number is 84 million coins. The limit for Bitcoin is 21 million coins.

If you are toying with the idea of investing your money in Litecoin , you will ask yourself at the beginning how secure the trade is at all. At this point it must be said that the market is extremely volatile – price jumps are simply part of it. This means that the price can rise or fall 15 percent overnight.

If you want to invest your money in crypto-currencies, especially in Litecoin, you will need nerves of steel. It’s also important to follow the news and watch the markets – in other words, to see how they react to various events.

In order to buy/sell Litecoin, you must register with a stock exchange or broker, so registration is not missing.

The only way to get Litecoin without registration is mining.

Despite the great predictions for the crypto world, you should not forget that investing in cryptocurrencies involves a high risk. The high volatility does not exist in any other speculative investment objects. Although the Litecoin share price seems to be quite stable, even inconspicuous news can have a quite strong influence on the performance. The crypto market is sensitive, yet more and more people are abandoning conventional investments and prefer to invest in the promising crypto currencies.

Only you can decide whether or not you want to buy Litecoin.

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eToro is a multi-asset platform offering CFD and non-CFD products. 66% of individual 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.

Disclaimer All content on our website is for information purposes only and does not constitute a recommendation to buy or sell. This applies to assets as well as products, services and other investments. The opinions expressed on this site do not constitute investment advice and independent financial advice should be sought whenever possible. This website is not intended for use in jurisdictions where the trading or investment described is prohibited and should only be used by persons and in a manner permitted by law. Your investment may not be eligible for investor protection in your country or country of residence. You should therefore carry out your own due diligence. This website is available to you free of charge, but we may receive commissions from the companies we offer on this website.
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