Buy Litecoin with Credit Card, Litecoin, just like Bitcoin, is a cryptocurrency that was launched in the 2011 and immediately became the second largest cryptocurrency after Bitcoin. Litecoin is a decentralized cryptocurrency, which permits users to make payments instantly. Litecoin is acceptable everywhere Bitcoin is acceptable.
Advantages of Litecoin
The primary advantages of Litecoin are that it handles a higher volume of transactions and with its faster block time, it reduces the risk of double spending attacks. Additionally, there is wallet encryption in Litecoin, which allows users to secure the wallet and view transactions and account balance, only after entering the password. This encryption provides protection from viruses and trojans as well as provides a sanity check before sending payments.
In seven months since June 2017, the market cap of Litecoin has grown from $1.4 billion to $10.5 billion, and its price has soared 650% to $190.70 per coin. At present, there are 84 billion Litecoins.
In India, Litecoin (at present) is traded at around Rs 11,000. By January 2019, the average price of Litecoin is predicted at close to Rs 28143, while by February 2020, the average price is estimated at Rs 38,678.
However, the buying or selling of Litecoins is not as easy as other cryptocurrencies in India. Apart from Litecoin, users can buy Bitcoin, Ethereum, and Ripple in India. While many people think that litecoins are not available for sale and purchase in India at all, it is not true. There are multiple sites that help consumers buy Litecoins online.
There are primarily three methods to buy Litecoin with a credit card-
- Purchase Litecoins with fiat currency (debit/credit cards): Litecoins can be bought through the following sites:
- Changelly: Changelly enables a faster exchange, compared to other sites. Changelly does not require the users to verify their account for trading.
- Bitfinex: Bitfinex is the largest online platform for cryptocurrency trading across the world. Bitfinex offers various security features for securing your account and users will even get 10% off on transaction fees for one month.
- Hitbtc: What sets Hitbtc apart from other sites is that users can access a large number of crypto coins, tokens, ICOs, and fiat at Hitbtc exchange.
- Koinex: Koinex is one of the most popular sites to buy cryptocurrency in India including bitcoin, ethereum, and litecoin. The site also enables the users to transfer litecoin to other litecoin wallets across the country.
- Purchase Litecoins through coin conversion- This is another popular way of purchasing litecoins. While Changelly and Bitfinex provide this service (in addition to selling litecoins for fiat currency), there are other sites as well which offer litecoins for other cryptocurrencies:
- Shapeshift: Shapeshift enables users to exchange any cryptocurrency with Litecoin. The difference between Shapeshift and Changelly is that Shapeshift charges fee. However, users can purchase Litecoin without any verification from Shapeshift.
- Ok coin: China-based Ok coin allows users to purchase Litecoins across the globe. Ok, coin also offers to the trade of Bitcoins, in addition to Litecoins and charges a minimal 0.2% for trading.
- Exchange Bitcoins or Ether for Litecoins from international exchanges- For this, users need to buy Bitcoin or Ether from local exchanges and then send it to international exchange. There are many exchanges. Some of the popular exchanges where users can convert your Bitcoin/Ether to Litecoin are HitBTC, Bitfinex, UK coin, Poloniex, Kraken, Bittrix.
The step-by-step guide to buying Litecoins with Credit Card
Debit/credit cards are the most convenient way to purchase litecoins while sitting at home. Below is a step-by-step guide as to how to buy litecoin using debit/credit cards-
- Register with the site: First of all, users need to register with the website they are buying litecoins from. While certain websites verify your mail, there are others which don’t require any verification.
- Selection of Currency: Users need to select the currency in which payment will be made and chose the coins. Move to the payment processing page.
- Confirmation of Order: Check the details carefully and then only confirm to make the payment.
- Wallet Address: Cryptocurrencies are always stored in wallets either hardware or software and users need to select the address of their wallet to complete the process. One should go for the wallet that offers multi-currency support and enhanced security. Ledger Nano Swallet is one of the popular best cryptocurrency wallets.
- Confirming the details: Double check the wallet address and press the confirmation button.
- Card Details: Fill in the details about the card number, expiry date and the security code for processing the payment. Also, recheck the amount that will be deducted from your card.
- SMS Verification: An SMS is sent by the bank to the user’s registered cell number and it will contain a code that needs to be entered on the paper to complete the payment process. You will receive Litecoins in your wallet in 30 minutes.