Buy Litecoin LTC

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  • Lowest trading fees: 0.15%
  • Buy LTC with iDEAL, Bancontact or SEPA
  • Maximum safety with Proof of Reserves
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What is Litecoin?

Litecoin is a decentralized cryptocurrency, often referred to as the ‘silver’ of Bitcoin. It was created in October 2011 by a former Google engineer. Litecoin works as a digital currency on an open-source blockchain, which means you can make secure transactions without the intervention of a bank or other central authority.

Although Litecoin and Bitcoin have many similarities, there are also some important differences. Litecoin uses the Scrypt hash algorithm, which means that it is more dependent on fast memory (RAM) than on pure processing power. This makes it easier to mine with standard computers. Litecoin also has a much shorter block generation time, about 2.5 minutes instead of the 10 minutes for Bitcoin, which allows for faster transactions. In addition, Litecoin has a larger maximum supply of 84 million coins, four times as many as Bitcoin's 21 million. This makes it easier to keep Litecoin affordable and more widely available.
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Network information

Name
Litecoin
Ticker
LTC
Network name
Litecoin network
Explorer URL
https://blockchair.com/litecoin

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Buy Litecoin with your favorite order type

  • Market order

    Buy Litecoin instantly at the best available price. Ideal for quick and easy purchases.

  • Limit order

    Set your maximum price for Litecoin. Your order will be executed when your limit price is reached on the market

  • Auto Invest

    Automate your crypto purchases on a daily, weekly, bi-weekly, or monthly basis.

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FAQ

  • How to buy Litecoin?

    Follow the steps below to easily and securely buy Litecoin.

    1. Sign up

      Create an account with a reputable crypto platform like Finst.

    2. Deposit EUR

      Deposit Euros using payment methods like iDEAL, Bancontact, or SEPA.

    3. Start investing

      Buy Litecoin and securely store it on our platform.

  • Can I automatically invest in Litecoin on a recurring basis (DCA)?

    Yes, with Auto Invest, you can set up daily, weekly, bi-weekly, or monthly purchases of your favorite crypto using the Dollar Cost Averaging (DCA) strategy. Create your own investment plan and DCA Litecoin without any action required or additional fees.

    Do you prefer to store your crypto on your external wallet? At Finst, we have various cryptocurrencies enabled for automatic withdrawals, which are sent straight to your wallet after each recurring purchase.

  • What fees do I need to pay when buying Litecoin?

    When you buy Litecoin through Finst, you benefit from the most competitive trading fees of 0,15% per transaction.

    Any fees you may encounter when trading crypto are clearly shown for every transaction on our platform.

    It's important to note that network fees are outside of our control, as they are determined by the blockchain networks themselves.

    This means that while network fees may vary depending on the blockchain and current demand, our trading fee remains consistent, helping you better manage your transaction costs.

  • Which order types can I use to buy Litecoin?

    At Finst, we support several order types to buy Litecoin: Market Order, Limit Order, and Auto Invest (DCA).

    - With a Market Order, you buy Litecoin instantly at the best available market price.

    - Do you want to buy Litecoin at a lower price? With a Limit Order, you set the maximum price you're willing to pay for Litecoin. Your order will be executed once your limit price is reached on the market.

    - Do you want to invest in Litecoin without constantly checking the market? With Auto Invest, you can schedule automatic and recurring purchases. Whether you want to buy daily, weekly, bi-weekly, or monthly - you choose the frequency.

  • Can I use limit order to buy Litecoin?

    Yes, on our platform, you can easily buy Litecoin with a Limit Order. This allows you to set the maximum price you're willing to pay. Your order will be executed once the price of Litecoin reaches your limit price or lower.

    A Limit Order is ideal if you want to wait for a better price without constantly monitoring the market.

  • Is it safe to buy Litecoin?

    Yes, it is safe to buy Litecoin through Finst. We are registered as a Crypto Service Provider (no. R189158) with the Dutch Central Bank (DNB), and we are the first and only Dutch crypto platform that successfully obtained a Proof of Reserves (PoR) from an independent and reputable audit firm (Audit Now). At Finst, your assets are segregated and held on a 1:1 basis, plus reserves.

  • Is it legal to buy Litecoin?

    Yes, buying Litecoin is legal in Europe. However, we advise you to do your own research before making a purchase.

  • Can I buy Litecoin anonymously?

    No, due to laws and regulations, it is not possible to buy Litecoin or other cryptocurrencies anonymously on a regulated crypto platform in Europe.

  • Can I buy Litecoin with iDEAL?

    Yes, at Finst, you can easily buy Litecoin with iDEAL. We also support popular payment methods like SEPA and Bancontact.

  • Do you have to buy one Litecoin?

    At Finst, you can start investing in Litecoin with as little as €1. For many coins, it is not necessary to buy a whole coin.

  • What are the risks of investing in Litecoin?

    Investing in cryptocurrencies like Litecoin involves risks of losses. You can lose (part of) your deposit. Before you decide to buy Litecoin, it is important to understand the risks.

    Volatility: The price of Litecoin can fluctuate significantly. This means that its value can rise and fall quickly.

    No guaranteed profit: Previous price increases do not guarantee future returns. Therefore, only invest money that you can afford to lose.

    External factors: The price of Litecoin is influenced by external factors, such as economic conditions and the actions of influential individuals, governments, and institutions. These factors can have a positive or negative impact on the price.

  • How to store Litecoin?

    You can securely store your Litecoin in your Finst wallet. Some cryptocurrencies also support external wallets, allowing you to send your crypto to your own wallet if desired. We use state-of-the-art security measures to keep you and your crypto safe.

    We work with Fireblocks, one of the most trusted crypto security infrastructure providers, to safely store your Litecoin. They make use of Multi-Party Computation (MPC) technology which is an advanced cryptographic technology used to protect your digital assets.

    Additionally, Finst is the first and only Dutch crypto platform that has successfully conducted an extensive Proof of Reserves (PoR) audit. With Finst, your assets are segregated and held on a 1:1 basis, plus reserves.

  • Can I send my Litecoin to an external wallet?

    Yes, you can send your Litecoin to an external wallet. With Finst, you can easily send your Litecoin to a hardware or a software wallet.

  • Can I store Litecoin on a hardware wallet?

    Yes, you can store Litecoin (LTC) on hardware wallets such as Ledger or Trezor.

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How does Litecoin work?

Litecoin is an open-source cryptocurrency that enables users worldwide to make fast and affordable transactions. Litecoin originated as a derivative of the Bitcoin network and aims to address Bitcoin's three main problems: speed, scalability and centralization.

Characteristics of Litecoin:

- High transaction speed

- High scalability

- Decentralized mining process

- Low transaction costs

- Good security

- Privacy-oriented

- Excellent reputation

Litecoin works on the basis of a distributed ledger, the blockchain, which registers all transactions and guarantees their security. When a user initiates a transaction, it is sent to all nodes in the network. Miners, who contribute to the network with their computing power, compete to solve complex mathematical puzzles and validate transactions. As soon as a miner solves a puzzle, the transaction is added to a block and to the blockchain, which means the transaction is considered confirmed. The person who solves the puzzle is rewarded with Litecoins.

Litecoin uses Segregated Witness (SegWit), a technology that optimizes block space by separating transaction data from witness data. This increases transaction capacity and lowers costs.

In general, Litecoin aims to offer a fast, cheap and accessible solution for digital payments, in addition to the value storage element that Bitcoin offers.

Who are the founders of Litecoin?

Litecoin (LTC) was founded in October 2011 by Charlie Lee, a former Google engineer. He introduced Litecoin as an alternative cryptocurrency. At the time it was one of Bitcoin's biggest competitors. The Litecoin network did receive some technical upgrades, such as significantly shorter block times and the use of a different hashing algorithm called Scrypt. Charlie Lee has also always played an active role in Litecoin's online community.

Litecoin vs. Bitcoin

Litecoin entered the Bitcoin arena very early on. The Litecoin blockchain is a faster alternative to Bitcoin. The name Litecoin is a reflection of these characteristics. It is a kind of 'Lite' version of Bitcoin.

Instead of a fork, Litecoin was created from a copy of the Bitcoin source code, resulting in a completely new blockchain. This makes Litecoin technically comparable to Bitcoin, but there are some important differences. For example, Litecoin has:

- Its own hashing algorithm for mining

- Shorter block generation time

- A larger maximum supply of coins

Both cryptocurrencies use Proof-of-Work (PoW) as a consensus mechanism, in which miners compete to solve complex mathematical puzzles. The difference in hashing algorithms and block generation times means that Litecoin is faster at processing transactions. In addition, Litecoin has a larger coin supply than Bitcoin.

Because Litecoin offers higher speed and transaction throughput, it is often seen as a more practical choice for everyday payments, while Bitcoin has positioned itself more as a store of value. The use of different hashing techniques is another important distinction between the two networks, with the method used by Litecoin ensuring faster and more efficient operation.

With its proven speed and scalability, Litecoin has firmly positioned itself as one of the most recognized blockchain networks worldwide. Many crypto experts therefore do not consider Litecoin to be a competitor of Bitcoin, but rather a valuable addition. Litecoin is often described as the silver to Bitcoin's gold.

What is Litecoin Core?

Litecoin Core is the official software for the Litecoin network and functions as a full node client. It allows users to manage their Litecoin wallet and actively participate in the security and operation of the network. By running Litecoin Core, you help validate transactions and blocks, which contributes to the decentralization and integrity of the network.

As a full node, Litecoin Core downloads the entire history of Litecoin transactions, which requires approximately 22 gigabytes of disk space. Depending on the speed of your computer and network connection, the synchronization process can take anywhere from a few hours to a day or more.

Litecoin Core is available for various operating systems, including Windows, macOS and Linux. Litecoin Core is considered the safest Litecoin wallet.

Advantages of Litecoin

Why do investors choose Litecoin? Here are some of the most important reasons:

- Litecoin is one of the oldest cryptocurrencies.

- Litecoin is faster than Bitcoin.

- Increasingly accepted as a global means of payment.

- A solid, reliable system with good liquidity.

- Very low transaction costs

Disadvantages of Litecoin

There are also some disadvantages to keep in mind:

- Subject to strong competition as an alternative to Bitcoin

- Less suitable as a store of value compared to Bitcoin

- There is less development activity around Litecoin than with other cryptocurrencies

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