How to buy Litecoin with a credit card in 2022 | Easy guide

How to buy Litecoin with a credit card in 2022 | Easy guide

 

Litecoin is one of the most popular cryptocurrencies in the world and is even referred to by some as Bitcoin's gold silver . As a result, it is now possible to buy Litecoin on hundreds of different cryptocurrency exchanges with a credit card. However, only a few of them allow you to buy Litecoin with a credit card.

 

In this writing, you will be fully equipped to know how and where to buy Litecoin with a credit card.

 

About Litecoin

 

Like Bitcoin, Litecoin is a decentralized P2P cryptocurrency. It uses the same encryption techniques to make transfers, create funds, and confirm transactions.

 

However, the main difference between Bitcoin and Litecoin is that Litecoin has a larger number of coins that can be created and transaction rates are significantly faster.

 

 

 

The Litecoin network tries to process blocks every 2.5 minutes compared to 10 minutes for Bitcoin. Litecoin confirmations and sales are generally faster than alternative coins.

 

Litecoin investors believe that this increase in block processing time, combined with the cryptocurrency's larger storage system, will allow the coin to offer a more time-sensitive money transfer system in the future. .

 

Who created Litecoin?

 

Litecoin (LTC) is a cryptocurrency created in 2011 by former Google engineer Charles Lee to enable instant payments around the world. With your Litecoin wallet, you can send Litecoin to anyone in the world. Litecoin uses a proof-of-consensus mechanism, which means it can be mined.

 

Can I buy Litecoins?

 

Anyone can buy Litecoin as long as you can find an exchange that supports it in your country. Most cryptocurrency wallets do not require identification to log in. So you can create a wallet at any time and also get paid with Litecoin.

 

Is it better to mine or buy Litecoins?

 

If you have cheap electricity, it might be worth mining Litecoins. If you have solar power or just want to mine for fun, it may be worth it. If not, it's probably better to buy.

 

The mining industry is constantly changing, and small changes in the price of Litecoin or electricity can seriously affect your profitability.

 

How long does it take to buy Litecoin?

 

For most payment methods on our platform, transactions are completed within five minutes.

First-time purchases of Litecoin (LTC) require identity verification. Therefore, new users making their first transaction will need an additional five minutes to complete their order.

Due to bank processing times, bank transfers usually take longer (one to five business days).

Where can I buy Litecoin with a credit/debit card?

 

Coinbase

 

Coinbase is a cryptocurrency broker that lets you buy and sell four different coins. These are Bitcoin, Bitcoin Cash, Ethereum, and of course – Litecoin! The San Francisco-based platform was first launched in 2012.

 

Coinbase's ultimate goal is to provide people with a truly easy and user-friendly exchange for buying and selling cryptocurrencies. Therefore, no prior knowledge of trading is required to use the platform.

 

 

 

One of the biggest advantages of using Coinbase is that you can deposit and withdraw funds using a number of real payment methods. This means you can buy Litecoin using a credit card, debit card, and even a bank account!

 

 

 

When it comes to security, Coinbase is one of the safest trading exchanges. 98% of client funds are kept in cold storage, two-factor authentication is available, and when held in a USD wallet, funds are protected up to $250,000.

 

Coinmama

 

Coinmama is an Israel-based cryptocurrency broker. They were created in 2013 and allow users to purchase a total of eight different cryptocurrencies. This includes Litecoin as well as Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, QTUM and Ethereum Classic.

 

According to the team, over 1,000,000 customers in 188 different countries have used Coinmama, making it a very popular exchange.

 

 

 

Just like Coinbase, you can buy Litecoin from Coinmama using a credit or debit card. However, you cannot use a bank account.

 

Coinmama is slightly different from other exchanges because Litecoin is sent directly to your wallet right after your purchase is complete.

 

When it comes to fees, Coinmama is quite expensive. You have to pay a 5.5% transaction fee when you use your credit card to buy Litecoin and a 5.9% transaction fee for every purchase you make.

 

Bitpanda

 

Bitpanda, which was originally called Coinimal before being renamed, was first launched in 2014. The platform allows users to buy and sell a range of cryptocurrencies. The exchange is aimed primarily at European customers.

 

Available cryptocurrencies include Litecoin as well as Bitcoin, Ethereum, Dash, Bitcoin Cash, and Ripple. One of the best things about the Bitpanda platform is that it has one of the best payment methods.

 

CEX

 

Founded in 2013, CEX is a UK-based cryptocurrency exchange. Users around the world can buy and sell nine different coins through the platform.

 

These include Bitcoin, Bitcoin Cash, Ethereum, Dash, Ripple, ZCash, Stellar Lumens, Bitcoin Gold and of course Litecoin. With CEX, you can fund your account with a credit card or a debit card.

 

 

 

The platform is probably best for experienced cryptocurrency traders, as the site offers a wide range of trading tools that beginners may not understand.

 

In terms of security, CEX stores the majority of user funds in cold storage, which means they are kept offline.

 

BitStamp

 

Bitstamp was developed in 2011 and is a cryptocurrency exchange that allows people to buy, sell, and trade a range of digital coins. Initially launched in Slovenia, the platform now has offices in Great Britain and Luxembourg.

 

The exchange processes hundreds of millions of dollars worth of trades every day, making it one of the largest in the industry.

 

 

 

When it comes to payment methods, Bitstamp offers a number of real fiat options. This includes a bank transfer and a credit or debit card. When you use your credit card with Bitstamp, you will be charged 5% of the total transaction amount.

 

How to buy Litecoin with a credit/debit card

 

Now let's see how to buy Litecoin with a credit card using any of the platforms listed above.

 

Coinbase

 

Visit the Coinbase website by  clicking here.

Opening an account. Here you need to enter your details. Make sure they are correct, as you will need to verify them in the next step.

Now enter your credit or debit card details. The billing address must match your home address.

You must now show your government-issued ID to Coinbase. You can do this by holding it in front of your webcam or by downloading it in PDF format.

Your account should be verified immediately.

Now click on Buy/Sell.

Click Now, scroll down and enter the amount of Litecoin you want to buy. Then click on Buy Litecoin immediately.

Finally, confirm your credit/debit card number and voila – you've just purchased Litecoin.

Coinmama

 

First, visit the official Coinmama website  by clicking on my link here

Click Register and enter your details. Remember that you need to verify your identity to make sure you enter it correctly.

Once you have verified your email address, you will be asked to upload your verification documents. Upload a PDF of your passport or driver's license.

Next, take a picture of yourself holding your ID next to your face, with a note that says "COINMAMA" with today's date. Make sure the photo quality is clear. Otherwise, Coinmama will ask you to download new copies.

 

Your documents should be reviewed within 10 minutes. Check your emails.

You are now set up and ready to buy Litecoin with a credit card. Click Buy Litecoin on the left side of the screen.

Select the currency you want to play with, then select your package followed by Buy Now.

You will then be asked to enter your credit card information. You will also need to enter the Litecoin wallet address you want your coins to be sent to.

Once the transaction is submitted, your coins will be sent directly to your Litecoin wallet.

So now you know how to buy Litecoin with a credit card from Coinmama.

Bitpanda

 

First of all, you need to visit Bitpanda official website  by clicking on my link here .

Click Login at the top of the page and follow the account creation process. You will need to fill in some personal information like your full name, nationality and address.

You will then be directed to a third-party website that will verify your identity. Hold your passport up to your web camera and the system will check it for you!

When you are back on Bitpanda, navigate to the payments section.

Now select Litecoin, followed by Visa/MasterCard. You will also need to specify how much you want to buy in your local currency. Remember that you can purchase up to EUR 2,500 on your first purchase.

Enter your credit card details, verify the amount and confirm the transaction.

CEX

 

First, you need to visit the CEX website, which you can do by clicking  my link here

Click on Register at the top of the page and follow the instructions to open an account.

Now you need to go through the CEX verification process. It's a bit more complex than other platforms. First, you need to upload a copy of your ID. You will then need to enter your credit card details. After that, you have to take a selfie of yourself which will contain your credit card! After all, you will need to take a photo of your credit card next to your ID.

CEX charges your credit card a very small amount. Check your credit card statement online and enter the exact amount that was charged. That's it, your account is now verified and you can buy Litecoin with a credit card.

Now click on Deposit.

Click Buy/Sell at the top of the screen. Choose Litecoin and your preferred deposit currency.

Scroll down and enter the number of coins you want to buy.

Finally click on the green Buy button and your transaction will be processed immediately because you have already verified your card.

BitStamp

 

Visit the official BitStamp website by clicking  my link here .

Click Create Account and enter your details.

You will then have to present your identity documents. This must be a government-issued ID and proof of address. Unfortunately, you have to wait up to 24 hours for the team to verify your account, so there's nothing you can do until you receive a confirmation email.

Once you have received the email confirming your confirmation, you can log in to your account. Then click on Deposit.

Select Litecoin from the list of cryptocurrencies, followed by your preferred fiat currency (USD or EUR).

Then choose the number of coins you want to buy.

Finally, enter your credit card details and click submit. Your Litecoin is now available in your BitStamp balance.

Conclusion

 

Litecoin is one of the most traded cryptocurrencies in the industry . So it makes sense that more and more exchanges are offering credit card services. This makes it easy to buy Litecoin for the first time.

 

Other cryptocurrencies are not so lucky because you have to buy another cryptocurrency like Bitcoin or Ethereum first and then exchange it for the coin you want.

 

 

 

The only problem right now is that using a credit card to buy Litecoin can be a bit expensive. In addition to paying fees for credit card transactions, you must also pay trading fees.

 

References

 

www.buybitcoinworldwide.com › litecoin › buy

www.benzinga.com › money › how-to-buy-litecoin-with-credit-card

btcbit.net › buy-litecoin-ltc-with-credit-card

www.bitdegree.org › Home › Learn