Especially when you see them in full view on a desktop screen. Signup for PureVPN to get complete online security and privacy with a hidden IP address and encrypted internet traffic. The best way to minimize scamming and make your crypto experience private and secure is to go for a VPN. A VPN is simply a secret virtual connection for your crypto trading. Fake wallets are phishing wallets designed to snatch your Litecoin personal keys. Once the scammers have your non-public keys, they can rob all of your Litecoin.

What’s more, OKX also provides a Web3 wallet you can use to browse decentralised applications and create and trade NFTs. If you want to know how to buy litecoin in the UK, you need to start by finding a crypto broker or exchange that is safe to use in the UK. Luckily, we’ve already researched and compared a wide range of platforms and shortlisted the best options on this page for you. The quickest way to purchase Litecoin via online banking is by using it as a deposit method with eToro. This service has fast sign-up processes and simple interfaces for buying LTC, making it ideal for beginners.

Buy Litecoin Using ETPs (ETFs & ETNs)

You can buy Litecoin with a credit card on eToro, Coinbase or Paxful. Gate.io is an exchange with large volumes and has lower transaction fees compared to many exchanges. If you already own cryptocurrencies like Bitcoin or Ether, or stablecoins like Tether, you can start buying Litecoins on Binance with those. Litecoin has consistently https://www.tokenexus.com/ been one of the top 10 cryptocurrencies by market capitalization. If you have multiple open positions and want to see more options for the litecoin trade, click on the asset’s name. Buyshares.co.uk provides top quality insights through financial educational guides and video tutorials on how to buy shares and invest in stocks.

• Major exchanges generally allow users to pay through bank transfers, such as automated clearing house transactions.
• Amid central banks’ monetary easing, equity market volatility, and rising gold prices, numerous investors have turned to Bitcoin for its high returns.
• Instructions on how to use them are on the Ledger review or Trezor review.
• It is a second-layer solution that enables quicker and more scalable transactions through growing customer payment channels.
• Litecoin, on the other hand, has four times that figure, and only 84 million LTCs will ever be mined.

We cannot guarantee the timeliness, accurateness, or completeness of any data or information used in connection with you holding any exposure to cryptocurrencies. EToro is a social trading and investment platform that allows users to buy, sell, and trade cryptocurrencies, including Litecoin. Using Litecoinlocal.net, you can choose to purchase Litecoin in person using cash or online via an agreed-upon payment method. In either case, the platform facilitates a peer-to-peer exchange and always acts as the escrow. This platform’s nice feature is its buyer’s guide, which includes information on its basic use. As with other exchanges, you must first make an account on Litecoinlocal.net, after which you can look for sellers.

eToro – The Overall Best Way to Buy LTC in the UK

So, while unlimited supply may seem concerning theoretically, network activity and burn dynamics act as a “soft cap,” keeping inflation below Bitcoin’s. Also, an unlimited supply future-proofs Ethereum, ensuring that stakers still receive adequate future rewards, long after further supply decreases. When adding crypto exposure or balancing a portfolio with some uncorrelated assets, Bitcoin should be the first token of choice right now. Unless something catastrophic happens to destroy trust in crypto entirely, Bitcoin has likely seen its final bear market bottom around $15,000-$17,000.

The UK tax authority, HM Revenue & Customs (HMRC), treats cryptocurrencies like Litecoin as taxable assets rather than currencies. Litecoin (LTC) implements several security measures to ensure the safety of its network and transactions. However, it’s important to consider that no system is entirely immune to risks.

Other Ways to Get Litecoin

While, in general, eToro doesn’t have trading fees, you will pay a spread, which will cover fees charged by other platforms. If you want to buy Litecoin anonymously, you won’t be able to use a debit/credit card, e-wallet, bank transfer, or any fiat currency method for that matter. This is due to anti-money laundering laws that require all UK brokers to verify the identity of their customers. Yes, you can buy Litecoin (LTC) with GBP (Great British Pound) on various cryptocurrency exchanges and platforms that support Litecoin trading pairs with GBP. These exchanges allow you to deposit GBP into your account and then use it to purchase Litecoin.

By doing so, you stand to profit as long as the BTC value continues to rise. However, it’s important to note that there is a potential risk of losses if the market experiences a crash. Through KuCoin, you can explore Spot Trading, Margin Trading, and Futures Trading to diversify your investment strategy and maximize potential returns. Bitcoin mining is the process of creating new Bitcoins using mining rigs and high-capacity computers.

Created by Charlie Lee in October 2011, Litecoin was one of the first cryptocurrencies to launch after Bitcoin. The crypto aims to be a global digital payment designed for everyday transactions with its faster speed and lower costs. Forbes Advisor has provided this content for educational reasons only and not to help you decide whether or not to invest in cryptocurrency. Another cryptocurrency exchange that supports buying Litecoin in the UK and around the world is Coinmama. This exchange works in 188 countries and has been around since 2013.

• Unfortunately, there are no great NFT Litecoin platforms available.
• Bitcoin’s total supply is capped at 21 million whereas Litecoin’s maximum supply is 84 million.
• However, trades of $200 or more are subject to a percentage-based fee rather than a flat fee.
• In other words, had you invested just £500 into Litecoin just a decade ago, your money would have been over £55,000 when it peaked in 2018.
• There are many exchanges where anyone can buy Litecoin in the UK.
• While some major exchanges have insurance against hacking events and such, an investor might opt to store their Litecoin in one of these offline wallets.

Top crypto platforms such as Capital.com allow investors to create a new account in just 5 minutes, and give your trading access to Litecoin and several other cryptos. While cryptocurrency has slightly recovered since 2023, a recent bearish trend in the broader crypto market led to the price drop below 100$. This was also influenced by the negative supply shock following its halving event. With Litecoin’s current price 5.5 times lower compared to its all-time high, now can be a good time to invest in crypto during the bear market. The cryptocurrency market has been experiencing a so-called “crypto winter” since November 2022. It all started with the bankruptcy of a popular crypto exchange FTX, followed by another crypto exchange – BlockFi.

For more advice on calculating your taxes, check out our Crypto Tax UK Guide. The HMRC taxes Litecoin profits in the UK, but the type of crypto activities you engage in will determine whether you owe any tax and what kind. For example, if you simply buy Litecoin and hold onto it, you won’t owe any tax. Litecoin’s price is known to change rapidly and swing wide i.e. change quickly and by a considerable amount. For traders, this is good news as it presents opportunities to profit from this volatility.