Buy Litecoin (LTC)

Litecoin, often referred to as the silver to Bitcoin's gold, is a decentralized cryptocurrency that was created by Charlie Lee, a former Google engineer, in October 2011. It was designed as a peer-to-peer digital currency that operates on an open-source blockchain network. Like Bitcoin, Litecoin is based on the principles of cryptographic technology, enabling secure and verifiable transactions without the need for a central authority. However, Litecoin differs from Bitcoin in several key aspects. It utilizes a different hashing algorithm called Scrypt, which favors high-speed random access memory (RAM) rather than raw processing power, making it more accessible to a wider range of individuals and computers. Litecoin also has a faster block generation time of approximately 2.5 minutes, compared to Bitcoin's 10 minutes, which allows for quicker confirmations and a higher transaction throughput. Additionally, Litecoin has a larger maximum supply limit of 84 million coins, four times that of Bitcoin's 21 million, which contributes to its greater affordability and broader distribution.

The functioning of Litecoin is based on a distributed ledger called the blockchain, which records all transactions and ensures their security and integrity. When a user initiates a transaction on the Litecoin network, it is broadcasted to all nodes in the network. Miners, who contribute their computational power to the network, compete to solve complex mathematical puzzles to validate and bundle these transactions into blocks. This process is known as mining, and it involves finding a hash that meets certain predefined criteria. Once a miner successfully mines a block, it is added to the existing blockchain, and the transactions within it are considered confirmed. Miners are rewarded with a fixed amount of newly minted Litecoins, as well as transaction fees included in the block. This incentivizes miners to participate in the network and secure its operations. Litecoin also implements a feature called Segregated Witness (SegWit), which optimizes the use of block space by separating transaction data from the witness data, increasing transaction capacity and reducing fees. Overall, Litecoin aims to provide a fast, low-cost, and accessible digital currency solution for everyday transactions, complementing the store of value aspect offered by Bitcoin.

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.

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.

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

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.

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.

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

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.

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.

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