Are you wondering how to buy Litecoin?
If you are a crypto enthusiast, this question would have definitely crossed your mind.
People who have tried their luck in cryptocurrency are well aware of the fact that Litecoin is one of the biggest names in this industry after Bitcoin. Although not matching the level of Bitcoin, it has garnered a lot of attention in the recent past. So, what’s the answer?
Well, that’s exactly what you are going to find out in this post. Here, we will talk about everything you need to know when before you buy litecoin, and where to go for it.
Let’s take a look.
Easy Steps To Buy Litecoin
- Find a Litecoin wallet
Just like it is with buying a Bitcoin, you need to have access to a digital wallet before you are able to carry out any transaction involving litecoin. You can visit Litecoin.org to get a wallet and save your money in their digital space for storing your cryptocurrency.
You can also choose a reliable name like Bitcoin of America for your litecoin wallet, as it is a highly secure, and easily accessible option for you. The best part is that creating a wallet for litecoin on this platform is as easy as 1-2-3.
Besides digital wallets, you can also get access to hardware wallets that are easily available in the market.
- Find a Litecoin exchange
The second step in the process, which is also the most important one, is to find an exchange that allows you to carry out litecoin transactions. Bitcoin of America is one such exchange.
You can create your account on the website following a few easy steps. All you require is a phone number, a government-issued ID proof, and an email address to carry out your transactions using Bitcoin of America exchange for litecoin.
Once you have created your account on the exchange, you can start trading.
An important thing worth mentioning here is that with Bitcoin of America, you get the option to buy Litecoin with cash, PayPal, or even a credit card. It is one of the few online platforms where you can get this flexibility.
Why buy Litecoin?
Now that you have found the answer of where to buy litecoin, another question that might come to your mind would be why invest in this cryptocurrency when you can buy Bitcoin?
The answer to this lies in one simple fact – technology. While Bitcoin uses the SHA-256 hashing algorithm, litecoin makes use of the script algorithm. This means the calculations are more serialized when compared to their more popular counterpart.
Moreover, litecoin transactions are verified a lot faster than Bitcoin. To give a comparative analysis, say if a Bitcoin transaction is verified in 10 minutes, a litecoin transaction would take only half of this time to get verified.
Because of these few differences, it is a smart idea to invest in this cryptocurrency. In fact, it won’t be wrong to say that you can buy instant litecoin whereas for Bitcoin transactions you have to wait for a longer time.
Forecasts, estimates and other information included in this blog should not be considered as investment advice or as a recommendation that you purchase any cryptocurrency or any particular investment product. Past performance is not indicative of future results. The author of this blog and Bitcoin of America in no way guarantee any specific outcome, gain, or profit.