How to Buy Litecoin in the UK

When it comes to finding where to buy Litecoin in the UK, we’re here to help. We want to show you how to buy Litecoin, as well as provide some basics about cryptocurrency and places to buy digital assets.

If you’re looking to buy Litecoin, you’ll typically go through a cryptocurrency exchange or CFD broker to do so. To buy Litecoin in the United Kingdom, you’ll need to register on one of these platforms then deposit your GBP or EUR. Once that’s done, you can buy, sell, or trade your favorite digital currencies.

For those that want to buy Litecoin in the UK, you’ll find that most exchanges you visit support larger coins like Ethereum and Bitcoin. More than likely, Litecoin will be supported as well. Our choices when it comes to buying or selling Litecoin are Plus500 and Coinmama.

When it comes to selling or buying cryptocurrency in the UK, each platform offers a great user and easy buying experience. Before we start talking about buying Litecoin, let’s talk about the types of platforms Plus500 and Coinmama are.

 

  • 📈 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, ETH, XRP, LTC, BCH, ADA, QTUM, ETC
  • 💰 Deposit Methods: Credit/ Debit Card, Bank Transfer, Cash
  • ✅ Regulated
  • ❌ No Need To Setup Crypto Wallet
  • 🎧 Support: Email Form & Facebook
  • ❌ 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. 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 the UK: Top Options

Contract for Difference

People like using Contract for Difference (CFD) because it means they don’t have to actually hold the cryptocurrency they’re “trading.” When using CFD, you can buy or sell Litecoin at your desired price. Once Litecoin reaches the price you want, you can close out the contract. At that point, the difference from the purchasing position and the closing position is paid in cash.

The site we like for CFDs in the UK is Plus500. Those who use Plus500 are gaining exposure to the ups and downs of Litecoin without the need to hold or store the coin in an offsite wallet. The platform is well-regulated and reliable, and users get an easy to navigate interface while using the site.

With more features and options, a no-hassle experience, and pleasant design, Plus500 is our CFD of choice for selling or buying Litecoin in UK. Additionally, if you think you’ll use the platform while away from your PC, Plus500 offers a mobile app for your iOS and Android devices.

Typical Crypto Exchange

For those not interested in CFDs can choose to go with a standard cryptocurrency exchange. This is a platform that lets you buy, sell, and trade Litecoin in the UK. If you’re interested in cryptocurrencies other than Litecoin, you can find those on standard exchanges as well. However, keep in mind that not all exchanges support all cryptocurrencies.

The exchange we like using to buy Litecoin in UK is Coinmama. The platform is intuitive and gives users a way to purchase Litecoin with no fuss. Ultimately, it’s a great exchange to buy, sell, or trade your favorite cryptocurrency, and that includes Litecoin.


How To Buy & Sell Litecoin on Plus500

buy Litecoin UK with Plus500

Our favorite way to sell or buy Litecoin UK is on the Plus500 platform. This is because those who use this CFD website have the ability to “trade” Litecoin without needing a wallet to store it. To get started, head on over to the Plus500 site and begin registering for a new account (80.6% of retail CFD accounts lose money).

Select “Start Trading Now” from the home page to begin the process.

How to create UK Plus500 account

You’ll see a box that lets you choose between Demo Mode and Real Money on the next screen. To learn more about Plus500 before using your own GBP, select Demo Mode. However, we’re going to move forward with Real Money, so when you’re ready, click on that.

How to create real money account on Plus500

Near the bottom of this page, you’ll notice Apple and Android download links. If you want to use Plus500 on the go, you can download the app onto your mobile devices.

The next screen has a form that you’ll need to fill out for registration purposes. Plus500 wants your email address and a password of your choosing so it can create an account for you. If you prefer, Plus500 will also let you create your account using either your Facebook or Google account. When you’re ready to move forward, click on “Create Account.”

How to create account on Plus500?

Now, Plus500 will ask for a little more information. The platform needs some personal documentation to validate who its customers are. While it might seem a bit unusual, there’s nothing to worry about. It’s common for exchanges to request a photo of your passport or driver’s license to verify your identity.

When Plus500 has what they need, your account will be activated.

How to verify on Plus500

Depositing Funds to Purchase Litecoin

Once you receive confirmation from Plus500 that your account is active, you can deposit GBP. Plus500 lets you use credit or debit cards, wire transfer, Skrill and Paypal to fund your account.

How to deposit on Plus500

Once your GBP shows up, you can begin purchasing Litecoin on the Plus500 platform. On the left-hand menu, select the “Trade” button. Then, choose “Cryptocurrencies.” This will give you a list of all the cryptocurrencies available with Plus500.

Find Litecoin, then select the “Buy” button. On the right, a window will show allowing you to enter the specifics of your contract. Enter the amount of Litecoin you want and tell Plus500 whether you want to close at a loss or close at a profit. There are also advanced features here if you need more granular control of your CFD.

Once you’re satisfied with your entries, click the big “Buy” button.

How to buy Litecoin with Plus500 in UK

Plus500 will process your order at this point. When it does, you’ll get an alert letting you know your position. Plus500 will show you the number of funds you have available, your margin, and your profit and loss status. When Litecoin reaches a point where you want to end the contract, just click on the “Close” button to finish out your Contract for Difference.

How to sell Litecoin UK with Plus500


How to Buy Litecoin in UK With Coinmama

Coinmama makes it easy to buy Litecoin in UK for even those new to the cryptocurrency community. To get started, head on over to the Coinmama website and create an account. One thing of note is that Coinmama does not offer a mobile app, so you’ll have to use their website anytime you want to purchase Litecoin.

When you get to the home page, look in the top right corner for a “Sign Up” button. Get started by clicking the link.

How to signup to Coinmama

Coinmama will that you fill out a registration form on the next screen. Give the site your email address, then choose a password. Fill out the rest of the form, then click on the “Create Account” link to move forward.

How to create a Coinmama account

Next, you’ll need to provide Coinmama with some personal data. The exchange uses your information to ensure that their site is safe and secure. Most exchanges request this data from their users, so there’s nothing to fret over. You can provide the platform with a picture of your driver’s license, passport, or some other identification issued by your government.

Coinmama registration form

Fortunately, you don’t have to wait a long time to get approval from Coinmama. You’ll usually get your confirmation within a few hours. Once Coinmama confirms your information and registers your account, you’re all set to get started buying Litecoin in UK.

Buying Litecoin

When it comes to buying Litecoin in UK with Coinmama, something worth noting is that the exchange doesn’t store your financial information. That means each time you buy Litecoin, you’ll have to enter your credit or debit card info. While some users find this irritating, others like that none of their data is kept on the site itself.

Either way, it means that you don’t have to deposit funds into an account when you’re ready to purchase your Litecoin.

Now, find the “Buy” link in the upper right corner of the site. Choose LTC, since you’re purchasing Litecoin, then make sure you set your currency to EUR. Put in the amount of Litecoin you want to purchase, or if you prefer, you can also choose to input EUR.

Once you’ve done that, you’ll need to give Coinmama your Litecoin address. Unfortunately, Coinmama does not provide a wallet for you, so you’ll have to open your own wallet offsite so you can send your crypto to it. Enter your wallet address, provide Coinmama with your payment information, then choose “Buy LTC.”

How to buy Litecoin on Coinmama

Coinmama will process your payment, then send your Litecoin to your wallet. The exchange does have a minimum amount of Litecoin you’ll have to buy, so keep that in mind as you purchase your LTC.


More About Litecoin

A lot of folks aren’t aware that Litecoin is a popular altcoin which uses the same technology as Bitcoin. Litecoin is similar to Bitcoin in that it sits on a peer-to-peer platform which provides its users with quick and cheap blockchain transactions. From overall market capitalization, Litecoin is often in the top five of all cryptocurrencies in the market.

One of the biggest advantages of using Litecoin is its transactions speeds and options for storage. Many believe Litecoin has plans to replace Bitcoin, however, that’s not true. Litecoin aims to come alongside Bitcoin while making both cryptocurrencies better. Since its inception, Litecoin has shown itself to be a sufficient and reliable option for commerce.

Who Needs Litecoin?

Litecoin is an ideal coin for anyone who makes payments or purchases on a regular basis. By comparison, Bitcoin is primarily used as a store of value. When you use Litecoin, you’ll give up a little security, however, you’ll experience transactions that are a lot faster and cheaper than what Bitcoin has to offer.

Think of Bitcoin and Litecoin in terms of physical silver and gold. Silver was primarily used as a method to buy goods and services. Gold, on the other hand, was (and still is) used as a store of value. This is a significant way in which Litecoin differentiates itself from Bitcoin.

Pros and Cons of Litecoin

Litecoin logo

Pros
  • Litecoin is a flexible cryptocurrency, which means it can adopt new innovations and technologies as they are created.
  • Transactions on the Litecoin blockchain process quickly. Litecoin processes its transactions in a matter of minutes, whereas Blockchain can take over ten minutes to process a single transaction.
  • Litecoin’s transactions are cheaper than Bitcoin and many other cryptocurrencies.
  • One of Litecoin’s core benefits is that it’s an open-source platform.
  • Can implement and manage updated quickly to meet market needs.
  • Litecoin has a total limit of 84 million, which is considerably higher than the 21 million cap that Bitcoin offers.
  • Less likely to suffer hacks and attacks since transactions process to quickly.
Cons
  • Newer coins entering the cryptocurrency market are touting themselves as better and faster than Litecoin while offering more secure transactions.
  • Many in the crypto community question the loyalty of the coin’s leadership. Litecoin founder Charlie Lee sold off his Litecoin holdings, making some wonder where the coin will be in a few years.
  • Cause for concern when Litecoin pulled its LitePay service, seen as a direct rival to BitPay.

While Litecoin does have a few disadvantages, it remains a solid digital option with a reputation for quality. It is consistently near the top of market capitalization in the crypto market and aims to develop a solid foundation today to build on in the future.

Is Litecoin a Good Investment?

It’s impossible to predict Litecoin’s performance in the coming months, however, it’s always nice to have as much information as possible prior to investing in anything, let alone a cryptocurrency. Here are a few of the key points we believe will come in handy when making a decision:

  • Not a huge risk as it sits comfortably in the top five of all cryptocurrencies in regards to coin market capitalization
  • Faster transactions and lower cost makes it a legitimate Bitcoin alternative
  • Ranking and popularity make Litecoin an easy to purchase cryptocurrency
  • Available on the majority of cryptocurrency exchanges and platforms
  • Flexible and scalable enough to integrate new technologies and functionalities
  • Often thought of in the same vein as Bitcoin which inhibits growth.

Remember, the cryptocurrency industry is a very volatile place. As a result, there are inherent risks associated with this asset class. That’s why it’s important to gather as much information as possible before buying Litecoin. Visit TradingView and CoinMarketCap to gain further insight and analytics 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, ETH, XRP, LTC, BCH, ADA, QTUM, ETC
  • 💰 Deposit Methods: Credit/ Debit Card, Bank Transfer, Cash
  • ✅ Regulated
  • ❌ No Need To Setup Crypto Wallet
  • 🎧 Support: Email Form & Facebook
  • ❌ 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 other popular cryptocurrencies in the UK such as Bitcoin and Ethereum.

Further Reading At TotalCrypto.io
1) Need To Know More About Litecoin? Our Comprehensive Litecoin Guide Tells You Everything You Need To Know.

2) Have A Few Questions About Getting Started On Plus500? Our Dedicated Plus500 How-To Guide Walks You Through It.

3) Risk Management Is Important In Crypto Trading. Read All About It In Our Dedicated Editorial.

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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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