Are you looking to start investing in Litecoin? I've put together 4 great options to begin your investment.
So why invest in Litecoin? Well it's similar to bitcoin but it has much faster confirmation times. It works great a supplement to Bitcoin and is one of the most popular cryptocurrencies. I use it all the time for transferring money between exchanges – because it's quick and very cheap to use. Because I find it valuable, I also invest in it. Here are some of the tools I use to invest in Litecoin:
In my opinion Coinbase is the easiest place to invest in Litecoin online. Coinbase is one of the largest sellers of cryptocurrency and they have an excellent reputation. Unlike many crypto exchanges, Coinbase is managed by an actual company which is fully transparent and regulated.
The hardest part about investing in any cryptocurrency is moving your fiat into crypto. Thankfully Coinbase makes this process super easy. Depending on where you live you can deposit via Bank transfer or Credit Card. They have instant deposits for both. This means you don't need to wait days before you can make a purchase. When you buy Litecoin on Coinbase, the coin will be available in your account almost instantly. You can choose to keep it stored on Coinbase which offers a cloud wallet, or transfer it off into your own wallet.
As well as Litecoin, you can also invest in Bitcoin, Ethereum and a growing list of other cryptocurrencies. Coinbase has been adding new cryptos every couple of months recently.
eToro is a multi-asset investment platform. On eToro you can trade stocks, forex and of course cryptocurrency. What I like about eToro is that you can trade crypto alongside more traditional investments. So one day you could be investing in Apple, and the next in Litecoin!
eToro has a huge range of deposit options including credit card and paypal. Once your account has been verified you're able to make deposits and investments instantly.
On eToro you can open both long and short positions. This means you can profit from a declining litecoin price, or trade within ranges.
If you already have one cryptocurrency such as Bitcoin and you're looking to convert it into Litecoin then Changelly is a really easy way to do it. You simply send one coin to Changelly and then they'll send you the one your want to change into. What I like about Changelly is none of your crypto is stored on their exchange. You don't need to do any deposits or withdrawal.
Find out more about Changelly: Is Changelly Legit?
Finally I wanted to give a shout out to Coinbundle. They are a newer player in the cryptocurrency space who I've been investing with. Coinbundle lets you invest in bundles of cryptocurrency. Coinbundle is a good choice if you want to make a hands off investment. The bundles have been put together by experts and are all automatically rebalanced.
Disclaimer: eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.