Is it time to buy litecoin? As both seasoned veterans and newcomers arrive at a cryptocurrency exchange of their choice, they come face-to-face with an abundance of options. Choosing what digital asset to invest in depends on your familiarity, goals, and how much you want to own in your cryptocurrency wallet.
Dubbed by many as the next “crypto showstopper”, the innovative Litecoin network is making waves in the cryptocurrency world. Here’s what you need to know:
Litecoin is the "digital silver" to bitcoin's "digital gold", as it promises an alternative mining algorithm and faster mining settlement compared to its more conservative bitcoin counterpart. But it is so much more than that!
More than a decade ago, in the aftermath of Bitcoin, the first peer-to-peer decentralized cryptocurrency, rival digital currencies were born.
Litecoin (LTC) was an early digital asset in the industry, functioning as a type of technology that can transfer funds directly between two parties without a third party, such as a payment processing service or credit card company.
Launched at the end of 2011 by former Google engineer Charlie Lee, Litecoin was created by copying the Bitcoin codebase. But it was different because Litecoin increased the total supply and adjusted the speed of new blocks that were added to the blockchain.
The Litecoin supply is capped at 84 million, approximately four times the number of Bitcoins. The number of Litecoin's is mined at four times the speed of Bitcoin, clocking in at 150 seconds.
The speed and affordability (average transaction fee is $0.03) make it ideal for smaller day-to-day purchases. This makes Litecoin perfect as a tool for micro-payments.
Litecoin also differentiated itself from Bitcoin by functioning on a newer cryptographic algorithm called Scrypt. Still, all the mined tokens remained authenticated on the public ledger. The newly created Litecoin's are stored on a cryptocurrency exchange or a digital wallet that is accessed between transactions.
Currently, Litecoin enjoys a market capitalization of approximately $13 billion. While it may be a challenge to dethrone bitcoin as the king of cryptocurrency, Litecoin certainly holds its ground as a strong competitor that is consistently pushing the boundaries of innovation.
Eager to buy Litecoin but not sure how? No worries! Bitbuy is the simplest and most secure platform to buy Litecoin (LTC) from. Bitbuy always ensures the lowest associated fees and highest security when buying, selling or trading cryptocurrency.
Investors can easily invest in Litecoin (LTC) by creating an account with Bitbuy, adding funds to their account directly through e-Transfer or bank wire and buying Litecoin (LTC) directly through the Bitbuy platform. Experience problems or need questions answered along the way? Do not fear, Bitbuy is always here. Our customer support tem will ensure your investment journey is smooth throughout.
Buying Litecoin (LTC) in Canada as well as other digital currencies is simple and secure with Bitbuy. Here is how it works:
If at any point you need help signing up, verifying your account, adding funds, or buying and selling LTC, just contact customer support for same-day assistance.
Bitbuy is one of the best and most secure places to buy Litecoin in Canada. Here is why:
Every transaction you make on Bitbuy is encrypted using SSL (Secure Socket Layer) technology with two-factor authentication solutions implemented throughout. Bitbuy operates with a 99% cold storage reserve for all digital currencies in custody and executes daily encrypted and distributed backups for disaster recovery. Here at Bitbuy, it is crucial users know that their digital assets are safe with us.
Bitbuy offers some of the lowest buying and selling fees in Canada. You can check out our trading fees and processing times before you buy Litecoin (LTC).
Buying cryptocurrency directly from individuals is slow and risky. Cryptocurrency exchange platforms like Bitbuy make the process faster and far more efficient.
We pride ourselves in our exceptional customer support which sets us apart from other digital asset marketplaces. Simply submit a request under Bitbuy Support to be paired with one of our experts. We believe that exceptional customer support is an essential part of simplifying cryptocurrency for everyone.
Interac e-Transfer is the most popular way to pay online in Canada. Canadians want to buy Litecoin (LTC) with Interac, but banks do not make it easy. Bitbuy exists to simplify the process when you want to buy crypto in Canada with Interac. You can use your bank account directly to fund your Bitbuy account, which you then use to buy and sell cryptocurrencies in Canada.
Looking for a place to store your LTC? Bitbuy is the perfect place to start. Bitbuy has a built in-wallet in each user's account that you can use to store your LTC safe and securely with.
Website (instructions for the mobile app below)
When you log into your Bitbuy account you will be automatically directed to the ‘Accounts’ section of your account. Click 'Express Trade' located at the top of the page if you are already logged in. To facilitate the trade, click the 'Sell' button which will appear in red.
Click the drop-down and search LTC to begin the sale.
Enter the amount of LTC that you wish to sell. The dollar value of your sale will be displayed below under ‘Transaction summary'. When you are ready, click the 'Sell' button to complete the transaction.
Sign into your Bitbuy account and you will be automatically directed to the 'Accounts' section. If you are already logged in, click on 'Accounts' in the bottom right corner of the navigation bar.
Locate LTC and click on the 'Sell' button.
Enter the amount of LTC you wish to sell. The value of your sell will be displayed at the bottom of the page. When you are ready to continue, click the 'Place Sell Order' button to complete your transaction!
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Quickly find the answers you need in our support centre, or contact a member of our team 24/7/365, and we'll be happy to assist you.
Bitbuy was designed for both new traders seeking a simple interface and for advanced traders who know their way around the crypto world. We understand that getting started with cryptocurrency can seem a little daunting and our goal is to make the process easier for you.