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Bad Buy Litecoin
At Financer.com, you can easily find where to buy Litecoin and the best cryptocurrency exchanges for buying Litecoin. You can also use our Litecoin Profit Calculator to calculate and track the performance of your investment.
Where To Buy Litecoin
There are hundreds of crypto exchanges and platforms where you can buy Litecoin. To save you the stress and time of finding the ones that work best for you, we have trimmed down the list based on a number of factors. Here are our top picks:
| Coinbase | Binance US | Gemini | |
| Cryptocurrencies available | 200+ | 100+ | 100+ |
| Number verified users | 108 million | 120 million | 13.6 million |
| Minimum trade | 2 USD | 10 USD | 0.00001 BTC |
| Crypto fees | $0.99 to $2.99 flat fee depending on the size of the trade; percentage-based fee for trades above $200; 0.50% spread | 0.1% flat fee for most trading activities. | 0.5% – 3.49% |
| Advantages | Fast and easy; Low trading fees; Top notch security; multiple trading pairs | Low fees; multiple trading pairs | Beginner friendly Regulatory complaint Solid security infrastructure |
| Disadvantages | Relatively high transaction fees; Slow customer service | Regulatory issues; not available in all states | High fees Long verification process |
| Who is it best for? | Beginner traders | For intermediate and advanced traders. | Beginner, intermediate, and advanced traders |
| Learn more | Open an account | Open an account | Open an account |
Coinbase
Coinbase is an American publicly traded company that operates a cryptocurrency exchange platform that is the largest crypto exchange in the US.
It was founded in 2012 by Brain Armstrong, an ex-AirBnB employee driven by a vision of a global, open financial system that drives innovation and freedom.
Who Is Coinbase Most Suitable For?
Coinbase is most suitable for those getting started with cryptocurrencies. Its clean and user-friendly interface is great for beginner traders.
Its clean interface and well-thought-out features make the platform easy to navigate for beginners.
Why We Chose Coinbase
Coinbase’s user-friendly platform and intuitive interface are great for new entrants in the crypto world.
What’s more, the platform offers a wide range of cryptocurrencies to choose from as well as advanced security features.
Coinbase Fees
Coinbase has a variable fee structure that depends on the size of the trade. Trades less than $200 attract a flat fee while trades above $200 are charged based on a percentage.
In addition to fixed charges, there’s also a spread-based fee of 0.50%.
| Size of Trade | Fee |
| $10 or lower | $0.99 |
| $10 to $25 | $1.49 |
| $25 to $50 | $1.99 |
| $50 to $200 | $2.99 |
| Above $200 | Percentage-based fee |
Pros
- Fast and easy
- Low trading fees
- Top-notch security
- Advanced trading options
- Two-factor authentication
- Over 100 cryptocurrencies are supported
Relatively high transaction fees
Slow customer service
Cons
Binance US
Binance is the largest crypto exchange in the world by trading volume. The crypto exchange was founded in 2017 by Changpeng Zhao and is registered in the Cayman Islands.
Binance operates Binance.com as well as Binance US – a trimmed-down version of the Binance site to comply with US regulations. Although Binance owns Binance.US, the U.S. company is managed independently.
Who is Binance Most Suitable For?
With legion features and a sophisticated platform, Binance is most suitable for intermediate and advanced traders.
Its competitive fees, advanced charts, and multiple order types make Binance a solid platform for experienced traders.
Why We Chose Binance US
Binance US has a wide array of trading pairs, competitive fees, and advanced trading features.
What’s more, it is the largest crypto trading platform in the world by trading volume and has a diverse ecosystem.
Binance Fees
Binance has an attractive fee structure. The platform offers a flat 0.1% for most trading activities.
Low fees: Binance’s 0.1% trading fees are lower than many other US exchanges.
Trading pairs: Although Binance US doesn’t offer as many trading pairs as the main site, it has over a hundred cryptocurrencies which outpace many other US exchanges.
Pros
Accessibility: The US site is not available in all 50 states.
Regulatory Issues: The main site has run into several issues with regulators in some countries.
Cons
Gemini
Gemini was founded in 2015 by the famous Winklevoss twins: Tyler and Cameron Winklevoss. The crypto exchange is based in New York and has a reputation for security and regulatory compliance.
The exchange is run by the Gemini Trust Company, LLC – a New York Trust Company.
In addition to a crypto exchange, Gemini also runs a wallet service, a custodial service (for institutional investors), and an advanced trading platform.
The exchange is also the issuer of Gemini Dollar (GUSD) – a dollar-collateralized stablecoin as well as a yield-earning service (Gemini Earn).
Who Is Gemini Most Suitable For?
Gemini has a user-friendly platform and an advanced trading interface that makes it suitable for beginner, intermediate, and pro traders.
Its solid security infrastructure also makes it an attractive option for institutional investors and asset managers looking to invest in crypto.
Why We Chose Gemini
Gemini has built a strong reputation for security and regulatory compliance that makes it one of the most secure exchanges in the crypto space.
The company goes above and beyond to be regulatory compliant and keep funds under its custody secure. A testament to this is the fact that the platform has never been hacked.
Gemini Fees
Gemini offers relatively higher fees compared to the competition. Gemini’s fee structure is based on user activity like transfers and withdrawals.
The exchange also charges convenience fees (for using the web or mobile app). There’s also a Gemini earn fee – which is a fee charged for the Gemini Earn service.
Here’s a summary of the different fees:
| Activity/Service | Fee |
|---|---|
| Transfer (deposits and withdrawals) | Wire transfer deposits: FreeDeposit via debit card: 3.49%Withdrawal Fee: Variable (depends on the coin) |
| Gemini Earn | Variable |
| Transactions | Flat fee for trades up to $200 1.49% fee for trades over $200 |
| Convenience | 0.50% spread in the price of the crypto asset you are trading |
Beginner friendly
Regulatory complaint
Solid security infrastructure
Advanced trading interface
Wide range of products
Pros
High fees
Long verification process
Only 100+ cryptocurrencies available
Cons
How To Buy Litecoin
Steps
Find a good Platform
There are multiple exchanges where you can buy Litecoin. To save you the stress of finding the best platforms, we have explored multiple platforms and trimmed down the list to three: Binance, Coinbase, and Gemini.
Buy some Litecoins
Once you have signed up or signed into your account (whichever the case may be), head over to the buy crypto tab. The tab would look different for different exchanges but it will be described in a way that implies that you can use the button to buy crypto. Regardless of the crypto exchange you use, you will find multiple payment methods for buying Litecoin. Choose the option that’s most suitable for you.Store your coins securely
While crypto exchanges provide a wallet for storing your funds, it’s not a good idea to leave money on an exchange if you are not actively trading. Instead, store your funds in decentralized wallets like Trezor and Ledger Nano X.Should you buy Litecoin now?
Litecoin is currently trading at a fraction of its all-time high price making it a good time to buy. Here are reasons why Litecoin might be a good investment:
- Mirrors Bitcoin’s price action: Historically, LTC has mirrored Bitcoin’s price movements – as BTC rises, so does the value of LTC. If this pattern continues into the future, you can expect a boost in the price of LTC in the months ahead as Bitcoin’s next halving is scheduled for early 2024 – an event that is expected to instigate a rally in the wider crypto market.
- The forecasts are positive: Some crypto experts give positive predictions for Litecoin. For example, according to Changelly forecasts, LTC could reach $500 by 2028.
- A well-known cryptocurrency: Litecoin is one of the oldest and best-known cryptocurrencies. The Litecoin network has proven its importance in the market for more than a decade.
Is Litecoin a Good Investment?
As earlier mentioned, crypto analysts have an optimistic outlook for Litecoin. The reason isn’t farfetched: Bitcoin’s next halving is months away and the event has always triggered a rally in the broader crypto market.
If Bitcoin’s next halving – billed for early 2024 – has the historical effect it has had on the crypto market, then you can expect a spike in the price of Litecoin.
Although the odds are in the favor of Litecoin, it is important to state that investing in cryptocurrencies is risky business. Always talk to your financial advisor before investing in crypto assets.
What Is the Future of Litecoin?
Institutional adoption and a committed community will play pivotal roles in shaping Litecoin’s trajectory.
The cryptocurrency’s ability to adapt to evolving market dynamics and technological trends will determine its continued relevance and value in the cryptocurrency ecosystem.
Where To Store Litecoin After I Buy It?
Just as you need a secure place to store traditional money, you also require a safe repository for your Litecoin holdings. This digital equivalent of a bank account is a crypto wallet.
Litecoin can be stored in two primary types of wallets:
- Software Wallets: Similar to a bank account, software wallets are applications designed to securely store cryptocurrencies. Each software wallet comes with a unique wallet address, allowing you to send and receive Litecoin. Digital wallets come with a private key that allows you to authenticate transactions. Notable examples of software wallets suitable for Litecoin include MetaMask and TrustWallet.
- Hardware Wallets: Hardware wallets serve the same purpose as software wallets but add an extra layer of security. They come in physical forms and are highly resistant to online threats. Examples of hardware wallets that support Litecoin storage include Trezor and Ledger Nano X.
It’s important to note that while many cryptocurrency exchanges provide wallets for storing your coins, it’s generally not recommended to leave your funds on an exchange if you’re not actively trading. Several reasons support this cautious approach:
- Security Concerns: Your exchange account could be compromised, potentially resulting in the loss of your Litecoin holdings.
- Access Issues: You might find yourself locked out of your exchange account due to various reasons, including security measures or issues with the exchange itself.
- Hacking Risks: Exchanges are attractive targets for hackers. In the event of a breach, your Litecoin could be at risk.
To ensure the utmost security for your Litecoin holdings, it’s advisable to use hardware wallets like the ones mentioned above. These physical devices offer an additional layer of protection, making them a preferred choice for long-term storage of your valuable Litecoins.
