How To Buy Litecoin In Australia

If you want to buy Litecoin in Australia, you’ve come to the right place. Our guide will walk you through some basic info on cryptocurrencies, as well as where you can go to buy Litecoin.

Users purchase digital currency like Litecoin through exchanges. On an exchange, you’ll have to create an account, but once you do, you can deposit your AUD to buy, sell, or trade cryptocurrencies.

If you’re in Australia and you want to buy cryptocurrency, there are plenty of options available so long as you only want to buy major options like Ethereum and Bitcoin. Our top platform picks are Plus500 and CoinSpot. Both of these exchanges offer plenty of choices when it comes to purchasing cryptocurrency.

Now, let’s jump into how to get started buying Litecoin in Australia using Plus500 and CoinSpot.

 

  • 📈 Trade: BTC, ETH, XRP, LTC, BCH & IOTA
  • 💰 Deposit Methods: Credit/DebitCard, PayPal, Skrill, Bank Transfer
  • ✅ Regulated
  • ✅ Plus500 is a CFD Broker Which Means No Need To Setup Crypto Wallets
  • 🎧 Support: 24/7 Live Chat & Email
  • ✅ Mobile App For iOS & Android

  • 📈 Trade: BTC, LTC, DODGE, ETH, NEO, GAS, POWR, XRP, TRX, EOS
  • 💰 Deposit Methods: Bank or Newsagent Cash Deposit
  • ✅ Regulated
  • ❌ No Need To Setup Crypto Wallet
  • 🎧 Support: Email Form
  • ❌ Mobile App For iOS & Android

 

Note: 80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Plus500UK Ltd authorized & regulated by the FCA (#509909). You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the Plus500 website.

Where To Buy Litecoin In Australia: Top Options

Silver Litecoins

Contract for Difference

The great thing about Contract for Difference (CFD) is not having to hold the Option, Commodity, Stock or Coin while buying it. Those who use CFD for purchasing Litecoin can enter the contract at the price they want. Then, when the position reaches the point the user wants, they can close the contract. The difference between the buying position and closing position is then paid out.

The crypto CFD site that we really like in Australia is Plus500. Using Plus500, those interested in getting exposure to Litecoin have a way of riding the ups and downs of the LTC price. Additionally, these types of sites are regulated and don’t have the annoying storage requirements associated with standard crypto exchanges. Anyone using Plus500 will encounter a pleasant, innovate, and reliable method for experiencing the ups and downs of Litecoin. The no-fuss approach of Plus500, the bigger range of options and nice user interface make it our top choice for Aussies to get on Litecoin. Also, if you think you’ll want to trade on the go Plus500 also has top rated mobile apps for both Android and iOS.

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Crypto Exchange

Those who opt for a typical crypto exchange are choosing a site which allows users to buy, sell, or trade Litecoin in Australia. If users want to purchase more than just Litecoin, they can do so through a standard exchange, so long as the exchange supports that coin.

We like using CoinSpot to buy Litecoin in Australia. It’s easy to use the exchange and it provides users with their own wallet to store their Litecoin. Ultimately, CoinSpot gives its users a simple and intuitive exchange on which they can buy, sell, and trade digital currencies, including Litecoin.


How To Buy Litecoin on Plus500

Plus500 Australia Litecoin

A great way to buy Litecoin in Australia is through Plus500. Users on this CFD site can purchase crypto without actually storing it. If using a CFD site to buy Litecoin sounds appealing to you, navigate to Plus500 and get started by registering for an account.

When you arrive at the Plus500 home page, select “Start Trading Now.”

How to create Australian Plus500 account

On the following screen, you can select either Real Money or Demo Mode. If you want to learn more about the site before depositing your own funds, click on Demo Mode. However, for our guide, we’ll choose Real Money.

How to create real money account on Plus500

You’ll also see download links at the bottom of this page which allow you to download the app to your Android or Apple mobile devices.

Next, you’ll see a form that requires some information to complete registration for the Plus500 site. Provide your email address and select a password. Plus500 also gives you the option to create an account using your Google or Facebook info if you prefer to go that route. Once you’ve provided your info, select the “Create Account” link to proceed.

How to create account on Plus500

Next, Plus500 will request some additional information and documentation. This helps to protect the site and ensure that they know who their customers are. This is a common practice for cryptocurrency exchanges, so don’t be concerned. Once Plus500 has all the information they need, they’ll activate your account.

How to verify on pPlus500

Depositing Monies for Litecoin

You can start to deposit AUD into your Plus500 account after you get confirmation that your account is live. With Plus500, you can deposit your AUD via Paypal, Skrill, wire transfer, debit cards, or credit cards.

How to deposit on Plus500

You can start buying Litecoin on Plus500 after your AUD shows up in your account. Select “Trade” in the menu on the left side of the site. Next, select “Cryptocurrencies.” Now you can see a list of the digital currencies Plus500 supports.

Buying Litecoin in Australia with Plus500 is simple and straightforward. The site gives users an easy way to buy crypto CFDs.

Now you’re all set to buy Litecoin. Click on the button that says “Buy.” A window will show up on the right side of the screen that lets you input your CFD specifics.

Tell Plus500 how much Litecoin you want. At this point, you also have the option to close at either a loss or a profit. If you need more granular control, there are advanced options available. When you’re ready, confirm your entries by clicking the “Buy” button.

How to buy Litecoin on Plus500

 

Once Plus500 fills your order, you’ll get a notification regarding your position. You’ll see your margin, current profit and/or loss, and funds you have to trade. Once Litecoin gets to the point where you’re ready to close, select the “Close” button located beneath the Buy and Sell links.

How to close Litecoin trade on Plus500


How To Buy Litecoin with CoinSpot

Coinspot logo

One cryptocurrency exchange for buying Litecoin in Australia is CoinSpot. This platform is a traditional exchange that we like a lot. With CoinSpot, you can trade, buy, and sell cryptocurrencies. Anyone using CoinSpot has a great experience. It’s easy to use and navigate and is accessible across several device types.

If you want to use CoinSpot to buy Litecoin, head over to the site and get started by registering. At the top right corner, there is a button that says “Register.” Select that link to create an account with the site.

Register account on Coinspot

The next screen is a form you’ll fill out to register with the site. Give CoinSpot your email address and choose a password. If you have a referral code you can enter it here. Otherwise, click on the “I’m not a robot” box, then “Create Account” to finish registering.

How to create an account on Coinspot Exchange

You’ll get an email from CoinSpot after you finish the registration form. Inside the email is a link to validate your account. Click on the link to head back to CoinSpot to complete their Know-Your-Customer process. This is a method used to validate your identity and protect the exchange.

Find the button that says “Account” and click on it, then select “Verification.” The verification process asks for documentation to validate your identity. There’s nothing to worry about, as this is typical of most cryptocurrency exchanges.

How to verify account on Coinspot

During this process, we’d also recommend that you set up two-factor authentication. Enabling 2FA provides additional security for both your funds and your account information. CoinSpot lets you complete this through either Google Authenticator or by using SMS. If you decide to use Google Authenticator, you can download the app via the app store.

Funding your Account and Purchasing Litecoin

Once your identity is verified by CoinSpot, you’ll be able to load AUD into your account. Find the Dashboard and select “Deposit AUD.” At that point, you can decide which method you want to use for depositing AUD.

It might be a few days before your AUD shows up depending on which method you select. The exchange will tell you the amount of time you will have to wait based on the payment option you choose.

Once your AUD arrives in the account, you’re ready to buy Litecoin. Click on the “Buy/Sell” option located at the top of the site. Find Litecoin from the list of cryptocurrencies and click “Buy Litecoin.”

How to find Litecoin on Coinspot

On the next screen, you’ll input how much Litecoin you want to purchase. The amount is displayed in both Litecoin and AUD so you don’t have to mess with doing the conversion. Enter the amount and choose the “Buy” link.

How to buy Litecoin on Coinspot

Once you click Buy, a popup will appear asking you to validate the amount of Litecoin you want to purchase. Review your order, then choose “Confirm Buy” when you’re all set.

When the transaction completes, the Litecoin will arrive in your CoinSpot wallet. Select the “Wallets” link at the top of the site to see your Litecoin balance.


Let’s Talk Litecoin

Many people don’t know that Litecoin is an altcoin that makes use of Bitcoin’s technology. Like Bitcoin, Litecoin resides on a peer-to-peer based platform which gives users cheap transactions that occur almost instantly. Litecoin is almost always in the top five of the crypto industry and is available worldwide.

The primary advantage of using Litecoin is its storage options and transaction speed. While many think that Litecoin wants to replace Bitcoin, that’s simply not the case. Litecoin wants to complement the original cryptocurrency. It touts itself as the silver to Bitcoin gold. Over time, Litecoin has proven itself as a reliable and sufficient commerce option.

Who Needs Litecoin?

Charlie Lee, the man who created Litecoin, says that Litecoin is primarily for those who make purchases or payments on a daily basis. Bitcoin, on the other hand, is used for stored value purposes. You’re giving up a little security when you use Litecoin, however, the transactions are much, much faster. They’re also a lot cheaper.

If you are the type of person who wants to perform transactions on a daily basis with cryptocurrency, then Litecoin might be the right option for you. It generates blocks faster than Bitcoin, which means it can handle more transactions while processing them quicker.

Think of it in terms of actual silver and gold. Silver was used in the past to purchase goods while gold was used as a store of value. Like Bitcoin and Ethereum, Litecoin is usually listed on exchanges since its one of the biggest and most popular cryptocurrencies on the market.

Pros and Cons of Litecoin

Litecoin logo

Pros

One of the core benefits of Litecoin is that its an open-source Bitcoin client. As a result, it can manage and implement updates or development changes quickly to adjust to market needs. Thanks to its flexibility, Litecoin can also adopt new technologies as they become available.

Litecoin is agile, but it’s also fast. Transactions process on the Litecoin network within a few minutes while Bitcoin can take at least ten minutes to complete a transaction. Additionally, Litecoin offers those on its network lower fees for each transaction. This makes it a great digital currency with which to work or adopt. In this regard, Litecoin has the advantage over Bitcoin as well as several other digital currencies.

Additionally, Litecoin has a high number of total available coins. While the currency does have a limited supply, just like Bitcoin, it’s limit is 84 million. Compare this to Bitcoin’s 21 million cap and Litecoin becomes a coin that’s easier to mine and purchase.

Lastly, Litecoin provides additional security. Since its transaction process so fast, the platform is much less prone to hacks and cyber attacks. As Litecoin moves from one place to another, there is very little time for a double-spending hack to occur.

Cons

On the other hand, while Litecoin has tried to make itself unique in the crypto industry by improving upon Bitcoin’s drawbacks, it’s seeing that advantage slowly slip away. New coins are constantly entering the market that claim to be as good or better than Litecoin at delivering quick and secure transactions.

Additionally, Litecoin has faced challenges with credibility in the past. It’s founder, Charlie Lee, sold his LTC holdings, which made many in the industry question his loyalty to the coin. There was also cause for alarm when the coin withdrew its Litepay feature – a service similar to what BitPay currently offers.

Even though the coin is facing a few drawbacks, it’s still a solid coin with an excellent reputation. Litecoin remains solidly in the top five of all cryptocurrencies in regards to total cap market and continues to build toward the future by establishing a solid foundation now.

Is Litecoin a Good Investment?

We can’t tell you how Litecoin will perform this year and beyond, primarily because we don’t know. But if you’re trying to decide if you want to invest in Litecoin, there are some key things that you might want to think about:

  • Typically in the top five of coin market capitalization so it’s not as big of a risk as smaller coins
  • A legitimate alternative to Bitcoin with lower fees and faster transaction speeds
  • Very popular cryptocurrency which makes it easy to purchase
  • Listed on many cryptocurrency platforms
  • Scalable and flexible enough to implement innovative and new technologies
  • Does not show as much growth as it is often thought to be the same as Bitcoin

Overall, cryptocurrency is a very volatile industry. Therefore, this asset class has potential risks that come with it. Keep that in mind as you consider investing in Litecoin. However, you can also visit CoinMarketCap and TradingView to gather more analytics and insights into Litecoin.

 

  • 📈 Trade: BTC, ETH, XRP, LTC, BCH & IOTA
  • 💰 Deposit Methods: Credit/DebitCard, PayPal, Skrill, Bank Transfer
  • ✅ Regulated
  • ✅ Plus500 is a CFD Broker Which Means No Need To Setup Crypto Wallets
  • 🎧 Support: 24/7 Live Chat & Email
  • ✅ Mobile App For iOS & Android

  • 📈 Trade: BTC, LTC, DODGE, ETH, NEO, GAS, POWR, XRP, TRX, EOS
  • 💰 Deposit Methods: Bank or Newsagent Cash Deposit
  • ✅ Regulated
  • ❌ No Need To Setup Crypto Wallet
  • 🎧 Support: Email Form
  • ❌ Mobile App For iOS & Android

 

80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. 

You can also buy Ethereum, Bitcoin and Ripple (XRP) in Australia using CoinSpot & Plus500.

Further Reading At TotalCrypto.io
1) Not Learned Enough About Litecoin Yet? Read More About LTC In Our Dedicated Guide.

2) Want To Branch Out Into More Altcoins? We Tell You Our Top Altcoin Picks.

3) How Do You Find The Next Huge Cryptocurrency? We Give You Our Insights.

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DISCLAIMER: Be aware that the activity of cryptoassets mentioned in this article is unregulated. This article must not be construed as investment advice. Always do your own research.

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