Want to jump straight to the answer? You can buy LTC on Gemini, Coinbase, eToro, Robinhood and Kraken.
Sometimes referred to as the “silver to Bitcoin’s gold,” Litecoin (LTC) is an open-source, peer-to-peer cryptocurrency that was one of the earlier developed altcoins. The cryptocurrency was originally introduced to make transferring money faster. Litecoin’s network is based on the technology behind Bitcoin with a few major improvements.
For example, Litecoin’s more efficient network means lower transaction costs and faster transfer speeds when compared to Bitcoin. Its faster network also makes the cryptocurrency less susceptible to hacking attempts, which typically take place when a user transfers coins from wallet to wallet.
It’s never been easier to invest in crypto than it is right now. Our guide will teach you how to buy Litecoin, how to decide when to sell your coins and a few of our favorite platforms that currently support Litecoin trading.
Contents
Step 1: Open an online account.
The easiest way to purchase Litecoin (and most cryptocurrencies) is to open an account with a cryptocurrency broker that supports the direct purchase and sale of Litecoin. A cryptocurrency broker is very similar to a stockbroker — you’ll open your account, place buy orders and the broker will purchase the cryptocurrencies you request according to your specifications. After your order closes, you’ll see your Litecoin in your brokerage account.
Like opening a bank account or a stock brokerage account, you’ll need to supply a bit of personal information to your broker before you can access trading capabilities. Some of the information you might need to provide may include:
- Your full legal name and address
- Your email address and phone number
- Some information on your income and experience trading cryptocurrencies
- Bank account information or data for another payment method (like PayPal and credit card info)
- A copy of your driver’s license, passport or another form of photo ID
Not every crypto broker offers access to the same coins. If you aren’t sure where to start your search, consider a few of our favorite brokers currently supporting Litecoin trading below.
Gemini
If you’re new to the cryptocurrency market, you might want to start your investing career with Gemini. Gemini is a straightforward broker that focuses on providing investors with a simple trading platform they can use to buy and sell some of the most popular digital currencies in just a few clicks. Gemini’s platform gives you 24/7 access to your coins, and you can track how your investment is changing over time with a glance. In addition to its desktop platform, Gemini also offers comprehensive mobile trading and more advanced tools for users who prefer to have access to expert-level charting and analysis tools.
Commissions
Account Minimum
eToro
Another popular cryptocurrency broker for beginners, eToro offers both desktop and mobile Litecoin investing. One of eToro’s most unique features is its CopyTrader functionality, which allows you to start trading cryptocurrencies by “copying” the trades made by professional crypto investors. Simply choose a user who you want to copy, enable CopyTrading and eToro will match your moves to the experts.
Interested in testing out your crypto trading skills? Consider starting with eToro’s practice account functionality, which provides you with $100,000 worth of fake virtual currency to hone your trading skills. With a clean interface and a number of unique tools, eToro can be an ideal option for intermediate investors and experts alike.
iTrustCapital
iTrustCapital, a digital asset IRA trading platform, allows you to directly buy and trade cryptocurrencies and physical gold in real-time through retirement accounts. iTrustCapital’s eliminates costly inefficiencies and outdated processes of previous IRA models. In short, you can move money from your retirement accounts into the cryptocurrency and the physical gold markets at costs up to 90% lower than other IRA companies. You can transfer an existing IRA, rollover an employer plan or contribute new funds.
Get started and learn more about iTrustCapital.
Step 2: Buy a wallet.
After you open a broker platform, you should choose a private wallet to hold your coins. There are 2 major types of cryptocurrency wallets: hot wallets and cold wallets. Hot wallets are free but must be connected to the internet in order to access your coins. Cold wallets are physical devices that you can use to store your coins offline. Though they hold fewer currencies than hot wallets, cold storage devices provide you with the highest possible level of security.
We recommend that you store your Litecoin in a cold storage wallet. Browse a few of our favorite options below.
Best for Coin Choice: HaloCam SafePal
One of the biggest complaints that cold storage wallet users have about cold wallets is that they tend to support fewer cryptos than hot wallets. This can mean purchasing multiple different wallets to store all of your tokens, which increases the chance that you’ll misplace a device.
The HaloCam SafePal is among the most comprehensive cryptocurrency wallets we’ve seen, with support for over 10,000 coins and tokens spread across 19 blockchain projects. If you’re searching for a 1-stop-shop solution to store multiple cryptocurrencies offline, the SafePal can provide you with a single solution for all of your investments.
Best for Affordability: KeepKey Hardware Wallet
Many cold storage wallets cost around $100. If you’re a new investor, you might not be able to spend this much on a wallet — especially if you only need to store a small amount of Litecoin.
The KeepKey bank-grade security hardware wallet is a simple and affordable solution for anyone looking for a beginner-friendly way to store their coins offline. The KeepKey wallet is compatible with Windows, Mac and Linux operating systems, and features high-level security solutions comparable to more expensive models. Priced at less than $30 through Amazon, the KeepKey wallet can be a great solution for new investors.
Step 3: Make Your Purchase.
After you’ve opened your brokerage account, funded the account and decided where you want to store your coins, it’s finally time to place your order. You’ll place an order to buy Litecoin using your brokerage’s trading platform by entering a buy order. Your buy order tells your broker how much Litecoin you’d like to purchase and when the order should be executed. There are multiple types of buy orders — let’s take a look at a few of the most common order types you might run into.
- Market order: A market order is a buy order that tells your broker that you want to purchase a set amount of Litecoin at the current market rate. Market orders are filled immediately as long as someone is selling their Litecoin when you place the order. Market orders are much more likely to be filled than other order types but give you less control over the price that you pay per coin.
- Limit order: A limit order is a buy order that tells your broker to buy a specific amount of Litecoin but only at a set price. When you enter a limit order, you’ll choose both the number of coins you want to buy and the maximum price you’re willing to pay per coin. Say you set an order to buy 5 Litecoin at a limit price of $80 per coin, your broker will only execute the order if able to buy each coin at $80 or less. Limit orders give you more control over the price you pay per coin.
After you place your buy order, you can finally relax. Your broker will do the rest of the work for you, and you’ll see your coins in your account when the order is complete.
Trade or Sell Your Cryptocurrency
Once your broker is able to complete your order, you’ll see your coins in your brokerage platform’s account. From here, you’ll need to decide if you want to capitalize on short-term price movements or if you want to be a long-term investor. If you think that the price of Litecoin will increase in the long term, we recommend moving your coins to your hardware wallet. These wallets include a set of private keys that greatly reduces the possibility that you’ll lose your coins if a hack occurs.
If you plan to take advantage of short-term price movements, it’s usually more affordable to leave your coins in your brokerage account. Convert Litecoin to an intermediary currency (like USD Coin or Tether) when you think the price is high, then convert back to Litecoin when you believe the price is low. This allows you to accumulate more Litecoin, which you can cash out when you decide to take profits.
If you plan to become a cryptocurrency day trader, it’s important that you open an account only with trusted, reliable brokers. Explore a few of our favorite cryptocurrency brokers offering access to Litecoin trading below if you aren’t sure where to begin.
Best For
1 Minute Review
eToro, headquartered in Cyprus, England and Israel, has provided forex products and other CFD derivatives to retail clients since 2007. A major eToro plus is its social trading operations, including OpenBook, which allows new clients to copy trade the platform’s best performers. Its social trading features are top notch, but eToro loses points for its lack of tradable currency pairs and underwhelming research and customer service features
Best For
- U.S.-based cryptocurrency traders
- Social and copy traders
- Simple user interface
- Community engagement and following other traders
Pros
- Expansive network of social trading features
- Large client base for new traders to imitate
Cons
- U.S. traders can only buy cryptocurrency
- Only 15 cryptocurrency pairs available
Best For
1 Minute Review
Gemini is a cryptocurrency exchange and custodian that offers investors access to 26 coins and tokens. Founded in the US, Gemini is expanding globally, in particular into Europe and Asia. Offerings include both major cryptocurrency projects like Bitcoin and Ethereum, and smaller altcoins like Orchid and 0x.
Gemini is 1 of the only brokers with multiple platform options based on skill level. New investors will love the streamlined interface of Gemini’s mobile and web apps, while advanced investors might appreciate all the tools that come with ActiveTrader.
In addition to a host of platform choices, Gemini users also have access to insured hot wallets to store tokens without worrying about digital asset theft. Learn more about what Gemini can do for you in our review.
Best For
- New investors looking for a simple mobile and web app
- Experienced investors who need a more advanced platform with more tools
- Users looking for a 1-stop-shop to buy, sell and store all of their coins
Pros
- Easy and quick signups — can get started in as little as a few minutes
- Multitude of platforms to accommodate traders of all skill levels
- Hot wallets include insurance to protect your from theft and hacking attempts
Cons
- Charges both a commission and a convenience fee for users buying and selling through the desktop or mobile app
Best For
1 Minute Review
Coinbase is one of the Internet’s largest cryptocurrency trading platforms. From Bitcoin to Litecoin or Basic Attention Token to Chainlink, Coinbase makes it exceptionally simple to buy and sell major cryptocurrency pairs.
You can even earn cryptocurrency rewards through Coinbase’s unique Coinbase Earn feature. More advanced traders will love the Coinbase Pro platform, which offers more order types and enhanced functionality.
Though Coinbase doesn’t offer the most affordable pricing or the lowest fees, its simple platform is easy enough for complete beginners to master in as little as a single trade.
Best For
- New cryptocurrency traders
- Cryptocurrency traders interested in major pairs
- Cryptocurrency traders interested in a simple platform
Pros
- Simple platform is easy to operate
- Comprehensive mobile app mirrors desktop functionality
- Coinbase Earn feature rewards you with crypto for learning about available coins
Cons
- Higher fees than competitors
Best For
1 Minute Review
Voyager is a leading name in the sphere of cryptocurrency investing, giving you access to over 50 tokens and coins. Buy, sell and swap assets using Voyager Crypto’s simple mobile platform available as a free download for iOS and Android users.
When you invest through Voyager, you’ll pay nothing in commissions, which is a major benefit when compared to other cryptocurrency brokers. Voyager is also one of the only brokers we’ve seen that allows users to earn interest on their crypto investments.
Though the broker could do more to improve its customer service, it’s an excellent option for beginner investors and seasoned professionals alike.
Best For
- Cryptocurrency investors looking for a wide selection of supported projects.
- Investors who prefer mobile trading.
- Anyone interested in earning interest on their crypto investments.
Pros
- Simple, straightforward and intuitive mobile platform
- Wealth of investment opportunities
- Allows users to earn interest on select crypto investments
Cons
- Only available for mobile users — no desktop platform
- Limited routes to contact customer service team
Best For
1 Minute Review
Maybe you think cryptocurrency is the future, or perhaps you were swept up in the initial waves of Bitcoin. BlockFi may be your next step if you’re ready to evolve as a crypto investor.
Whether you’re a native crypto user or curious enough to start investing, BlockFi seeks to bring institutional-grade financial products to crypto markets that often face restricted access. It strives to bring clients low-cost, simple applications designed to maximize the potential of crypto assets. Learn more in our BlockFi review.
Best For
- Crypto native clients. You own Bitcoin now. You’re the friend who fills in the blanks when conversation turns to cryptocurrency, and you devour crypto literacy content like it’s your job (and maybe it is). BlockFi’s platform can help take your crypto assets to the next level.
- Crypto fringe clients. If you’ve dabbled in buying alternative assets like crypto or know enough to be interested, BlockFi can help you take the next step.
- Crypto curious clients. If you’re both intrigued by bitcoin and the type of person who obsessively learns everything you can about things you’re new to, BlockFi’s crypto asset platform might be the entry point you’re looking for.
Pros
- Mostly fee-free platform
- Market-best interest rates
- Earn interest, trade and borrow from a centralized hub using the BlockFi app
Cons
- Mostly restricted to those with a base knowledge of cryptocurrency
- No dedicated relationship with an investment advisor, so best for those who have a solid handle on crypto trading
Best For
1 Minute Review
Coinmama prioritizes convenience, security, and efficiency in its cryptocurrency exchange. Customers buy and sell directly with the company, so orders fill instantly and without any hassle.
While you’ll need to get a crypto wallet from another company, the ability to buy and sell seamlessly and securely through Coinmama’s platform makes crypto trading easy and safe.
Best For
- Crypto traders who want instant transactions and immediate access to their crypto
- Buyers who want to buy coins with a credit or debit card
Pros
- Fills orders and sends your coins in minutes
- Wide variety of payment options accepted
- Generous loyalty program that provides serious discounts to qualifying customers
- Fast and friendly customer service
Cons
- 3rd-party crypto wallet required to actually receive your coins.
Current Crypto Prices
Keeping track of how Litecoin prices are changing can help you determine the best time to buy. Browse some of today’s market changes below.
Adding Litecoin to Your Investment Portfolio
With unique technology and affordable transfers, Litecoin can make an excellent addition to any investor’s portfolio. It’s important to remember that the cryptocurrency market as a whole is still largely unregulated. If you do decide to invest in Litecoin, be sure that this asset makes up only a small percentage of your overall investment landscape.
Try Gemini
Gemini builds crypto products to help you buy, sell, and store your bitcoin and cryptocurrency. You can buy bitcoin and crypto instantly and access all the tools you need to understand the crypto market and start investing, all through one clear, attractive interface. Gemini Crypto Platform offers excellent account management options. You can manage your account at a glance, view your account balance 24-hour changes and percent changes. Get started with Gemini now.
Getting Started with Crypto
Learn About Cryptocurrency
Disclaimer: As per the European Securities and Markets Authority (ESMA), the percentage of retail clients losing money on CFD trading must be updated every three months. Please note that eToro’s new results are 67% in regards to retail investor accounts losing money when trading CFDs with eToro. Due to this change, we require you to immediately update all of your eToro related promotions, web properties, and campaigns featuring CFD disclaimers to 67%.