How To Buy Litecoin With A Credit Card In 2021|Easy Guide

Are you a crypto enthusiast, investor or trader that is seeking directives on how to buy Litecoin with a credit card in 2021?

In this article, I will be showing you the crypto exchanges where you can buy Litecoin with a credit card seamlessly. You will also be informed of the practical directives to following on each of these exchanges to achieve your goal of buying Litecoin with a credit card.

Firstly,

What is Litecoin all about?

According to Wikipedia, Litecoin is an open-source software project and peer to peer cryptocurrency released under the MIT/X11 license. It started in October 2011.

Litecoin has grown to be one of the most popular cryptocurrencies in the world and it was even referred to by some as silver to Bitcoin’s gold. It was almost identical to Bitcoin in technical details. Litecoin has grown to be one of the most popular cryptocurrencies in the world and is even referred to by some as a worthy investment.

The only difference between Bitcoin and Litecoin apart from Bitcoin been its pioneer is that it has a larger number of coins that can be created, making the transaction rates significantly faster and cheaper in gas fees.

The Litecoin network tries to process blocks every 2.5 minutes compared to Bitcoin’s 10 minutes. Litecoin confirmations and sales are generally faster than alternative coins.

Presently, it is now possible to buy Litecoin on different cryptocurrency exchanges with a credit card. However, just a few of them allow you to buy Litecoin with a credit card.

Who Created Litecoin?

Litecoin (LTC) is a cryptocurrency created by former Google engineer Charles Lee in 2011 to enable instant payments around the world.

With your Litecoin crypto wallet, you can send and receive Litecoin to and from anyone in the world. Litecoin can be mined in that it uses a consensus evidence mechanism.

Can I Buy Litecoin?

Yes, you can. As long as you can find an exchange that supports it in your country. Most cryptocurrency wallets do not require ID to log in. So, you can create a wallet at any time and buy Litecoin with it.

How Long Does it Take to Buy Litecoin?

For most of the payment methods, transactions are completed within five minutes.

First-time Litecoin (LTC) purchases require ID verification. As a result, new users making their first transaction will need an additional five minutes to complete their order.

Due to bank processing times, bank transfers typically take longer (one to five working days).

Where Can I Buy Litecoin With a Credit  Card?

You can buy Litecoin with a credit card from the following crypto exchanges:

1. Coinbase

Coinbase is one of the safest crypto wallet first launched in 2021 and headquartered in San Francisco.

It is a cryptocurrency broker that allows you to buy and sell four different coins. There are Bitcoin, Bitcoin Cash, Ethereum and Litecoin.

Coinbase’s ultimate goal is to provide people with a really simple and user-friendly exchange to buy and sell cryptocurrencies. Therefore, no advanced trading knowledge is required to use the platform.

One of the good thing about using Coinbase is that you can deposit and withdraw digital funds using several real-world payment methods. This means you can buy Litecoin using a credit card, debit card, and even through your local bank account!

When it comes to trust and security, Coinbase is one of the trusted and safest trading exchanges. 98% of client funds are held in the cold store, two-factor authentication is available, and when held in a USD wallet, funds are protected up to $250,000.

Steps by Steps Procedure in Buying of Litecoin With A Credit Card

• Go to the Coinbase website by clicking here.
• Open an account. Here you have to enter your details. Make sure these are correct as you will need to check them out in the next step.
• Now enter your credit or debit card details. The billing address must match your home address.
• You must now show your government-issued ID to Coinbase. You can do this by holding it up to your webcam or uploading it as a PDF.
• Your account should be verified immediately.
• Now click on Buy / Sell.
• Click Now scroll down and enter the amount of Litecoin you want to buy. Then click Buy Litecoin Immediately.
• Finally, confirm your credit/debit card number and you’re done – you’ve just bought Litecoin.

2. Coinmama

Coinmama is an Israel-based cryptocurrency broker that was created in 2013. Coinmama allows you to purchase a total of eight different cryptocurrencies. This includes Litecoin as well as Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, QTUM and Ethereum Classic.

Coinmama is a very reliable and popular crypto wallet having more than 1,000,000 customers in 188 different countries.

Just like Coinbase, you can buy Litecoin at Coinmama using a credit or debit card. However, you cannot use a bank account here.

Coinmama is slightly different from other exchanges as the Litecoin is sent straight to your wallet right after your purchase is complete.

When it comes to fees, Coinmama is slightly expensive. You have to pay a 5.5% transaction fee when you use your credit card to purchase Litecoin and a 5.9% trading fee for every purchase you make.

Steps by Steps Procedure in Buying of Litecoin A With Credit Card

• First, visit the official Coinmama website by clicking my link here
• Click on Register and enter your details. Don’t forget that you need to verify your identity to make sure you are entering it correctly.
• Once you have verified your email address, you will be asked to upload your verification documents. Upload a PDF of your passport or driver’s license.
• Then take a picture of you holding your ID next to your face, along with a note that says “COINMAMA” with today’s date. Make sure the quality of the photo is clear. Otherwise, Coinmama will ask you to upload new copies.
• Your documents should be reviewed within 10 minutes. Check your emails.
• You are now set up and ready to buy Litecoin with a credit card. Click Buy Litecoin on the left side of the screen.
• Select the currency you want to play with, then select your package followed by Buy Now.
• You will then be asked to enter your credit card details. You will also need to enter the Litecoin wallet address that you want your coins to be sent.
• Once the transaction has been submitted, your coins will be sent straight to your Litecoin wallet.

3. Bitpanda

Bitpanda, which was originally known as Coinimal before it was renamed, was first launched in 2014. You can buy and sell a range of cryptocurrencies. Although the exchange is limited to European customers.

Available cryptocurrencies include Litecoin as well as Bitcoin, Ethereum, Dash, Bitcoin Cash and Ripple. One of the greatest things about the Bitpanda platform is that it has one of the greatest payment methods out there.

Steps by Steps Procedure in Buying of Litecoin With A Credit Card

• First, you need to visit the official Bitpanda website by clicking here.
• Click on Login at the top of the page and follow the account creation process. You will need to fill in some personal information like your full name, nationality and address.
• You will then be directed to a third-party website that will verify your identity. Hold your passport up to your web camera and the system will check it for you!
• When you’ve returned to Bitpanda, go to the payments section.
• Now select Litecoin, followed by Visa / MasterCard. You will also need to specify how much you want to buy in your local currency. Remember, you can buy up to EUR 2,500 on your first purchase.
• Enter your credit card details, check the amount and confirm the transaction.

4. CEX

CEX is created in 2013 that supports the buying and selling of nine different coins through the platform. They are Bitcoin, Bitcoin Cash, Ethereum, Dash, Ripple, ZCash, Stellar Lumens, Bitcoin Gold and of course Litecoin. With CEX you can fund your account with a credit card or debit card.

CEX is based in the UK. The platform is probably best for experienced cryptocurrency traders as the site offers a wide range of trading tools that beginners may not understand. Plus, the user interface can be very complex for crypto beginners.

In terms of security, CEX stores the majority of user funds in the cold store, which means they are kept offline. (they cannot be hacked and stolen)

Steps by Steps Procedure in Buying of Litecoin With A Credit Card

• First, you need to visit the CEX website which you can do by clicking on the link here
• Click Register at the top of the page and follow the instructions to open an account.
• You must now go through the CEX verification process. It’s a little more complex than other platforms. First, you need to upload a copy of your ID. You will then need to enter your credit card details. After that, you need to take a selfie of yourself that will hold your credit card! After all, you’ll need to take a photo of your credit card next to your ID.
• CEX charges your credit card a very small amount. Check your online credit card statement and enter the exact amount that was charged. That’s it, your account is now verified and you can buy Litecoin with a credit card.
• Now click on Deposit.
• Click Buy / Sell at the top of the screen. Choose Litecoin and your preferred deposit currency.
• Scroll down and enter the number of coins you want to buy.
• Finally, click on the green Buy button and your transaction will be processed immediately because you have already verified your card.

5. BitStamp

Bitstamp is a cryptocurrency exchange that allows you to buy, sell, and trade a range of digital coins.

Bitstamp was originally launched in Slovenia, the platform now has offices in Great Britain and Luxembourg.

The exchange handles hundreds of millions of dollars worth of deals every day, making it one of the largest in the business.

When it comes to payment methods, Bitstamp offers several real fiat options. This includes a bank transfer and a credit or debit card. When you use your credit card with Bitstamp, you will be charged 5% of the total transaction amount.

Steps by Steps Procedure in Buying of Litecoin With A Credit Card

• Visit the official BitStamp website by clicking on my link here.
• Click Create Account and enter your details.
• You will then have to submit your identification documents. This must be a government-issued ID and proof of address. Unfortunately, you have to wait up to 24 hours before the team verifies your account, so there is nothing you can do until you receive a confirmation email.
• Once you have received the email confirming your confirmation, you can log into your account. Then click on Deposit.
• Select Litecoin from the list of cryptocurrencies, followed by your preferred fiat currency (USD or EUR).
• Next, choose how many coins you want to buy.
• Finally, enter your credit card details and click Submit. Your Litecoin is now available in your BitStamp balance.

Conclusion

Litecoin is one of the most stable cryptocurrencies in the world. It is one of the digital assets that can guarantee you a great return on your investment.

So, it makes sense that more and more exchanges are offering credit card services. This makes it easy for you to buy Litecoin for the first time.

Other cryptocurrencies are not so lucky as you first have to buy another cryptocurrency like Bitcoin, Ethereum or BNB and then exchange that for the coin you want.

The only problem right now is that using a credit card to buy Litecoin can be a little on the expensive side. In addition to paying a fee for credit card transactions, you also have to pay trading fees.

References

www.buybitcoinworldwide.com 

www.benzinga.com

For Further Reading

10 Businesses You Can Start With 100k in Nigeria / Best Business Ideas

https://uncleblockchain.com/how-to-create-smart-contract-for-ethereum-blockchain/

https://uncleblockchain.com/how-to-buy-monero-fast-for-profits/

How Nigerians Can Buy Cryptocurrency After the CBN Ban