Litecoin (LTC), which is considered the younger brother of Bitcoin has recently reached a new height in the cryptocurrency market. It is said thatLitecoin reached its peak exchange rate of $38 in December 2013 of it then experienced a steep fall and then it was maintaining a steady exchange rate of around $3 since the last three and a half years. But then recently LTC started shooting up again.This is assumed to be a result of the recently implemented a change in the software protocol known as Segwit Soft Fork implementation. Today this cryptocurrency is trading over $40 in most of the major exchanges.
Factors to consider while buyingLitecoin
There are several ways you can buy Litecoins it can be using a credit card, through your Paypal account or wire transfer. Location is also another factor that decides where you are trying to buy LTC from as different countries have different rules of exchange. There are other factors too you need to consider while buying Litecoin like:
- The payment method –
- Credit or debit card -If you have a credit or debit card you can make the purchase with that in the US.
- Bank transfer – BitPanda and Coinbase are the two of the easiest platforms used to buy Litecoinswhen it is through bank transfer.Coinbase transfers normally take upto five to seven working days in the US. While BitPanda allows bank transfers onlyEU.
- Buying with Cash – There is ideally no direct way of buying with cashunless anyone agrees to exchange his LTC for cash, but that is not quite trustworthy.
- Buying with PayPal – There are various exchanges that accept PayPal. Cryptex24 is one such platform where you can pick your currency, enter the sum required to transfer and then transfer the money. You will receive your Litecoin within 4 hours of approval.
- Buying with cryptocurrency -This is considered the simplest way to buy LTC. If you already have Bitcoins in your wallet, simply exchange Litecoins with Bitcoins.
- The country where it originated – Territorial and regional locks are implied on certain platforms as the payment methods vary on the partnership of the countries. The more developed is the country, the easier it is for partnership. These legal rules of exchangevary in each country.
- Fees–When involved in Litecoin gambling, you need to be aware of the different fees involved and their impact on your LTC investments. Firstly, there is a miner fee associated with every type of cryptocurrencies. This is mandatory irrespective of the type of exchange you use. Then comes the exchange fee which is charged as a commission byeach tradingplatform.
Litecoins in online casinos
SinceLitecoins are now widely accepted by most crypto casinos. Just likeBitcoins, you would find that LTCs are a vital part of most casinos that are known as Litecoin casino. One prime reason for its popularity is, itsprocessing time is really fast and this is what makes them extremely popular amongst the gamblers.Also,you can exchange Litecoins for other forms of traditional money like the euro and dollar.