Where to Buy Litecoin in the UK? A Useful and Concise Guide
Litecoin or LTC is among the top 10 cryptocurrencies thanks to its popularity and liquidity. It is considered an excellent opportunity for trading, whether you are a beginner or an experienced trader. Many people are curious about where to buy Litecoin and don’t know if Litecoin a good investment in 2020. It is, and we will explain why. Moreover, we will share where you can buy Litecoin in the UK. Litecoin’s price is around $50 at the moment, with around a $3.3 billion market cap. To put it into perspective, if you exchange one Bitcoin, you will get around 226 Litecoins. Litecoin has a much faster coin production rate. This means you only need 2.5 minutes for one coin, while you will need 10 minutes for one Bitcoin.
Buying Litecoin Using Cash
We will name the most popular options for buying Litecoin with cash in the UK:
Litecoinlocal is a platform similar to LocalBitcoins, where its goal is to connect buyers and sellers acting like a match-maker for traders. You will need to type in your location, and they will display offers near you. This is the way you can buy Litecoin in person by using cash, or online. But be sure to use an agreed-upon payment method for security measures. This is considered a peer-to-peer exchange which is one of the main characteristics of Litecoin.
It’s useful as they offer a beginner’s guide. There you can select a seller you want to work with. But pay attention to their payment method of choice. You can even cancel the trade, and there are many payment options such as Paypal, SWIFT wires, and cash deposits.
Another popular payment method for using cash is using Western Union as a transfer thanks to Coinmama which is over the counter.
Cryptex24 also allows over the counter cash payment for Litecoin via a money transfer service.
Here, you can use a cash deposit at a bank or pay cash for a Flexepin voucher that is prepaid. This is a voucher that can be used to purchase Litecoin.
All of these allow credit cards with direct bank transfers, as well.
Buying Litecoin with a Credit/Debit Card
Coinbase is important to mention because it is one of the most respected crypto exchanges in the world. When you learn how to buy Litecoin in the UK using Coinbase, the process is straightforward, and the fee is 3.99 percent. Something excellent about Coinbase is that it has a Litecoin wallet. So, you don’t have to bother yourself by setting one up before you want to go into buying Litecoin.
Coinbase makes it very easy for users because not only does it have a website, but it also has an app. So you can easily download it using Google Play or the App Store. Whatever is convenient for you — they have it. There are multiple payment options, as well.
What makes the UK so prone to using Coinbase is how convenient it is for everyone who wants to buy Litecoin in the UK. You can even link your bank and Coinbase account for more transparent purchasing. If you want to pay with a Coinbase account or credit/debit card, the process is instant. However, it will limit your future purchases. You can also make instant payments if you store your funds in your Coinbase account.
This cryptocurrency exchange supports buying Litecoin in the UK as well. It’s been around for seven years and what’s interesting is that you can buy Litecoin using either USD or EUR. However, you cannot use GBP, which means you will have to pay some fee for conversion. Luckily, the fee is not significant. They also have a page for Litecoin buying only, and you can choose between different platform packages where you can spend a set amount of fiat currency. Coinmama accepts only credit and debit cards that are only Visa or Mastercard.
Naturally, you will have to verify the account you opened for Litecoin by providing your ID or utility bill and a secondary ID if you want to increase your limits.
Buying Through a Bank Transfer
If you want to use Kraken to buy Litecoin in the UK, you can do that by using EUR, USD, or Bitcoin. Credit cards are not allowed, but you can always complete a bank deposit first. After you have completed a trade for Litecoin you can withdraw the remaining funds or store them in a digital Litecoin wallet.
Whether your bank wire is in Euros or USD, the fee will be $10/10 euros. The cost may vary when you want to withdraw. However, buyers like that Kraken offers various amounts of cryptos you can choose to buy. Usually, more experienced traders will use it. Particularly, since it can become overwhelming if you are new to the exchange. Kraken allows many options on the market, including limit orders, settle positions, stop losses, and combine order types.
Whatever platform you decide to go with, it’s smart to do extensive research on Litecoin if you want to buy it. It is profitable, but check all your options before you dive into it. We summarized the best platforms where you can buy Litecoin in the UK, but it’s up to you whether you are going to do it and if it fits your wants and needs.
Originally published at https://www.wibestbroker.com on December 10, 2020.