How To

How to Buy Litecoin Online with Credit Card or PayPal or Debit Card?

Created by Charlie Lee, Litecoin is a peer-to-peer network currency that enables the users to make faster and easier transactions. It has a block reward which is generated every 2.5 minutes and its total supply is 84 million. It is the third largest cryptocurrency after Bitcoin and Ethereum when measured by the market capitalization.

You can Buy Litecoin via Debit/Credit Card

One of the most popular websites, CoinBase allows the users to purchase Litecoin directly using their debit/credit card. All you have to do is make an account on their website and provide your scanned photo ID proof, which is attested by the government. It charges a fee of 3.99% per transaction. This number may vary if you are purchasing Litecoin from some other similar sites. It is an easy option for first-time buyers and has already made a good reputation in the market.

Buy Litecoin Using PayPal

PayPal is one of the trusted means for purchasing Bitcoin, but sadly, PayPal directly does not deal in Litecoin trade. If you wish to buy Litecoin via PayPal, you will first have to purchase Bitcoin and then exchange them for Litecoin through some exchange platforms like Bittrex. 

Here are a few steps to purchase Litecoin using PayPal:
  1. You first need to sign in to Virwox
  2. Through your PayPal account, you can deposit the funds
  3. You then need to find the ‘Buy SLL (Second Life Lindens)’ option and click on the same
  4. Now you have to buy Bitcoin using the purchased SLL
  5. Collect your Bitcoin
  6. Exchange them for Litecoin
Now that you know both the procedures, it’s time for you to start purchasing Litecoin. One should always keep in mind that while exchanging Litecoin, you should never leave your coins on any exchange platform for a prolonged period. It is necessary to transfer the funds to your wallet as soon as possible because once you lose your valuable funds, there is no way you can get them back.

Litecoin mining is one of the most successful ways for making extra money with your current cryptocurrency. All you have to do is solve an algorithm (mathematical puzzle). Once you are able to solve the algorithm, you receive a reward, which adds to your Blockchain. The mathematical puzzle is generated when any Litecoin users make transactions, and the miners come together to solve that algorithm, so as verify the transactions.

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