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How to Buy Litecoin in 4 Easy Steps

Looking for a quick and safe way to buy Litecoin? Blockport enables you to convert your local currency to Litecoin. On this page, we will show you how to buy LTC in just minutes using our platform.

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Step 1: Create a Blockport account

The first step is to sign up for Blockport by creating a new account. You can use this account to buy, sell and store Litecoin and other cryptocurrencies.

Create you Blockport account
Step 2: Verify your account

By verifying your identity, your account will be activated and you can start building a portfolio.

Verify your Blockport account
Step 3: Connect a payment method

After your account is verified, connect your bank or payment account in order to deposit euros or US dollars.

Connect a payment method to your Blockport account to start trading Litecoin
Step 4: Buy Litecoin

Buy Litecoin and other cryptocurrencies instantly and exchange them on our trading platform.

Buy Litecoin now

Create account

Buy Litecoin instantly on Blockport

Blockport introduces an easy to use and secure way to buy Litecoin. Our platform is intuitive and suitable for both beginning and advanced traders. By following the steps above you will create an account and can start trading immediately. On the Blockport platform, you can not only trade Litecoin, but also trade other cryptocurrencies, including Bitcoin, Ripple, Ethereum, and Bitcoin Cash.

Easily buy Litecoin through the user-friendly interface of Blockport.

Frequently asked questions

FAQ

What is Litecoin?

Litecoin (LTC) is one of the voluminous cryptocurrencies and was released in 2011, two years after Bitcoin. Whereas Bitcoin is often compared to gold, Litecoin is seen as silver in terms of investment properties.

The technology of Litecoin is strongly based on that of Bitcoin. Litecoin has gone through rapid growth starting early 2017.

How can you use Litecoin?

Litecoin can be used to pay for products and services. Being one of the most prominent cryptocurrencies in the world, an increasing number of companies have started accepting Litecoin payments.

The mission of Litecoin’s founders is to create a cryptocurrency that can be used for small daily transactions, both online and offline.

Who invented Litecoin?

Litecoin was invented by Charlie Lee, a San Francisco-based entrepreneur and former Google employee. Lee envisioned a coin that could be used on a day-to-day basis, whereas he saw Bitcoin as more of a saving vehicle.

Lee still works on Litecoin full time, although he sold his own LTC to avoid any suspicions of a conflict of interest and to create more transparency about his role in the development of Litecoin.

Being a highly visible figure in the cryptocurrency market, this has helped Litecoin gain popularity.

What is the difference between Litecoin and Bitcoin?

The technology that both Litecoin and Bitcoin rely on is near-identical, although some important differences exist. An important difference for users is the average time it takes for a transaction to be confirmed.

It takes about 10 minutes for an average Bitcoin transaction to get through. For Litecoin, however, this is a mere 2,5 minutes. In addition, Litecoin is mined using a different algorithm type than Bitcoin, which can be read about below.

Another difference is Litecoin having more coins on the market and a higher maximum amount of coins to be mined. The price per Litecoin is therefore lower than the price per Bitcoin. It also avoids having to trade with a fraction of the coin, which can be confusing.

What will the future bring for Litecoin?

As with all cryptocurrencies, it is hard to predict where Litecoin will stand in five years or even just two years. For some time, however, Litecoin has established itself as one of the more robust and popular cryptocurrencies available on the market.

It seems that Litecoin is here to stay.

How is Litecoin created?

Litecoin uses an algorithm called ‘Scrypt’ for mining. In contrast to Bitcoin, which uses the processor-intensive SHA-256, Scrypt is more memory-intensive for systems. This means it is relatively easier to mine Litecoin than Bitcoin with a regular computer system.

This has resulted in Litecoin becoming a fairly accessible cryptocurrency for beginning crypto enthusiasts, contributing to its popularity.

Can you make money with Litecoin?

Yes, it is possible to make money with Litecoin. By the end of 2017, one LTC was worth about 80 times as much as it was during the start of 2017. However, as with all cryptocurrencies, Litecoin is volatile and constantly moving.

It is possible to make a large profit in little time, but it is also possible to lose a large portion of your investment. Be aware of the risks and always trade responsibly.

Which countries does Blockport support?

We aim to be a global exchange, offering our services to everyone. Currently, Blockport supports a wide range of countries in Europe and more will be added in the future.

Please see our full list of supported countries for more info.

Which payment methods does Blockport support?

We currently support payments by SEPA Bank Transfer, SOFORT Banking and iDeal. To learn which payment methods are supported in your country, check out our supported countries page

How do I buy Litecoins with SEPA Bank Transfer on Blockport?

For European countries we offer a safe way to buy Litecoins with SEPA Bank Transfer. SEPA Bank Transfer is a secure way to send money online from one country inside Europe to another. SEPA Bank Transfer is a fast, safe, and above all cheap way to transfer money online.

In order to buy Litecoin with SEPA Bank Transfer on Blockport you will have to follow these four simple steps.

1. Create a Blockport Account

The first step is to sign up for Blockport by creating a new account. You can use this account to buy, sell and store Litecoin.

2. Verify your Account

By verifying your identity, your account will be activated.

3. Connect a Bank Account

After your account is verified, connect your bank account in order to deposit euros or US dollars.

4. Buy Litecoin

Buy Litecoins instantly and exchange them on our trading platform.

Is Blockport safe to use?

Blockport works with industry leading partners to ensure the safety of our users and platform as a whole. Through many rigorous safety measures focused on prevention, detection and mitigation of security issues, Blockport ensures the safety of the exchange.

If you want to learn more about our safety measures, please see our dedicated safety page.

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