What is Litecoin?
Litecoin you can look at as another Bitcoin with much faster transactions and even lower fees. These are its two main selling points and make it more of a competition to Bitcoin Cash. At its launch, it was said that “if bitcoin is digital gold, then Litecoin is digital silver”. Year to date performance of Litecoin is about 8 times that of Bitcoin but the latter is a raging bull and has the volatility to destroy that statistic in days. While Bitcoin Cash removed the Segwit from the orginal Bitcoin concept, Litecoin kept it and added other technologies giving it one of the healthiest blockchains in the cryptocurrency space. Transaction speed and cost is amazing with Litecoin and its real competitor is Dash.
How Can You Buy Litecoin?
Get yourself an account at Coinbase and you will be able to buy Litecoin. If you have an account at Coinbase you will also have an account at GDAX since they are both owned by the same company. GDAX is slightly more complicated to understand than Coinbase but does have lower transaction fees. Coinbase and GDAX currently offer Bitcoin, Ethereum, Litecoin and Bitcoin Cash. Funding options vary from country to country and range from Credit Card, Debit Card, and Bank Transfer. On a side note; if you buy or sell $100 worth of Bitcoin you will get a free $10 worth added to your account.
BitPanda offers Dash and has plenty of familiar funding options. They currently allow you to fund your account with Credit Card, Debit Card, Bank Transfer, Neteller and Skrill. You will also have access to Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Dash at one place. BitPanda is based in Austria and well trusted but they are not as big as Coinbase.
Since this is a trading education website I must assume that you are also interested in trading. Cryptocurrencies can be traded for cryptocurrencies or back into fiat currency via cryptocurrency exchanges. This is a style of trading with no leverage which makes it very easy to understand. You can trade with or without charts and therefore decide your own level of complexity. Most amateur traders diving into cryptocurrency are just looking to buy and hold certain cryptocurrencies because they believe in them. With or without charts, less or more involved, the options are both there.
Forex Traders: Litecoin Can be Traded on MT4
If you would like to trade Litecoin just as you would any fiat currency or commodity then there are several options. You can even trade on MT4 if that is the software you are used to using and a dedicated page for this has been created for this specific type of trading. Just click the button directly below and choose your Broker.
Binary Options Style Traders: Percentage Win/Loss 1-Click Trading
If you like the idea of 1-click buy or sell trading similar to Binary Options but much better, then there is a great option to do so with Litecoin. You can now just set the amount of money you wish to risk, at what percventage profit or loss you want out, and then click Buy. No need to own Litecoin, no need to risk any more than you want on each trade, no hassle and can be done from a mobile device, laptop or desktop.