Buy Litecoin Direct with MasterCard / VISA. Follow our step-by-step instructions (Updated 2019)

Buying Litecoin (LTC) can be complicated. But it doesn’t have to be! There are many different trading venues with different payment methods and fees. Some sites have a long and complicated process to buy Litecoin. While others charge expensive fees. Buying Litecoin is fast, easy and cheap!

In this guide, we will help you buy Litecoin with your card. We have created clear step-by-step instructions to quickly buy Litecoin. We have also compared all the trading venues and selected the best one below. It has received our highest rating, is user-friendly and has the lowest fees. It doesn’t take more than a few minutes to buy Litecoin with our guide. If you are looking to buy Litecoin in Sweden or Scandinavia, we recommend comparing different crypto exchanges for this in Sweden.

We guide you all the way, from start to finish. First, we help you buy Litecoin quickly and cheaply. Then we explain how to protect and use your Litecoin. There is important safety information you must not miss! To avoid losing your Litecoin, read the complete Beginner’s Guide.

-Is it the right time to buy? The price goes up and down all the time. Don’t stare blindly at the price. Do you think the price is expensive? Don’t forget that there are a limited number of Litecoins and demand is increasing every year.

Why buy Litecoin?

  • Why should I buy Litecoin? Why should I use Litecoin when Bitcoin exists? Should I buy Litecoin as well? Below we summarize the main reasons:
  • Faster and cheaper: It only takes 2.5 minutes to verify a new block of transactions with Litecoin. Compared to 10 minutes for Bitcoin. This also means that the fees will be lower.
  • Great team of developers: Litecoin was created by Charlie Lee, a former Google engineer. Together with other developers, he works 100% on improving cryptocurrency. “Lightning Network” is a clear example that first came to Litecoin. It is used to make Litecoin even faster.
  • Strong and established brand: Litecoin is not only a major cryptocurrency but also one of the world’s oldest cryptocurrencies. The idea behind Litecoin was to create digital silver because Bitcoin was considered to be gold on the internet. Litecoin has built a strong brand and become popular in the crypto market.
  • A large group of investors: Many have invested in Litecoin. In other words, there are many who want it to work well for the cryptocurrency. For this reason, Litecoin is distributed by its own users. This creates organic growth and Litecoin continues to grow! Do you want to jump on the train?
  • Protect your money from inflation: Litecoin is available in limited supply to preserve the value of your money. The Riksbank, on the other hand, has a target of 2% inflation per year. This means that you have lost half of your money after 35 years at the bank.
  • Spread the risks in several cryptocurrencies! It can be a good idea to spread the risks and not just buy Bitcoin. The crypto market is moving a lot and Litecoin fits well into a portfolio of cryptocurrencies.

The history behind Litecoin

Litecoin was an early Bitcoin spinoff in October 2011. Today it is called an “altcoin”, an alternative cryptocurrency in the market. Google engineer Charlie Lee created Litecoin as an alternative to Bitcoin. The idea was that Litecoin was silver to Bitcoin’s gold.

Litecoin Foundation

Litecoin is primarily run by The Litecoin Foundation, a non-profit organization whose goal is “to advance Litecoin for the good of society by developing and promoting state-of-the-art blockchain technologies”. The organization is registered in Singapore and the board consists of Xinxi Wang, Zing Yang, Franklyn Richards and of course Charlie Lee.

Litecoin is faster than Bitcoin

When creating Litecoin, they used the same protocol basically as Bitcoin. But some parts were changed. Litecoin creates a new block in its chain every 2.5 minutes compared to Bitcoin’s 10 minutes. This means that Litecoin can handle 4 times more transactions at the same time.

The disadvantage of reducing the time per block is that the chain grows faster. This increases the risk of creating parallel blocks containing transactions that are not verified. Litecoin was the first major cryptocurrency to implement “SegWit”. This was a solution that reduced the size of the blockchain by deleting unused data. Litecoin was also the first to create a “lightning network”. It is a network at the top of the blockchain to transfer money faster.

It is clear that Litecoin is more flexible and faster to implement improvements compared to Bitcoin. Many see this as a strength, while others see it as a risk factor.

Is it a strength or not? What do you think? Let us know in the comments!

-At present, you need to expect a volatile price of Litecoin (LTC). This is something that will slowly but surely decrease every year. As Litecoin becomes larger, the price also becomes more stable.
Litecoin has been around since 2011, which is a short period in this context. Since the technology is new and growing rapidly, the price varies greatly. In other words, volatility is high. This is nothing strange.

Litecoin has been around since 2011, which is a short period in this context. Since the technology is new and growing rapidly, the price varies greatly. In other words, volatility is high. This is nothing strange.

All prices go up and down. It’s about psychology, which results in so-called “bubbles”. This is actually called cycles because it is constantly repeated with shares, currencies and other assets. Above we have included a picture of a classic “bubble”.

Compare Litecoin with cryptocurrencies/shares

If you are going to buy Litecoin, you want as high a return as possible. But at the same time, you do not want to risk all your money. In other words, you want a good risk-adjusted return. This means you spread the risks by not only buying Litecoin but several cryptocurrencies. We recommend this for all beginners.

For this reason, we have compared Litecoin with other cryptocurrencies. But also with ordinary shares on the stock exchange. We have compared the following parts:

  • Volatility: An indicator that shows uncertainty and risk. The higher the volatility, the more the price moves.
  • Volume: It shows how good liquidity is in trading venues. The higher the volume, the better the liquidity.
  • Correlation: This shows the relationship between the two prices. The stronger the correlation, the more the price moves.

All this is important to keep track of as an investor. It gives you a better perspective. But also more knowledge to make better decisions and make more money.