Litecoin is a type of decentralized crypto currency, which was introduced in the year of 2011. It allows the world wide users to make payments in an immediate as well as an instant manner. However, the trading (buying or selling) of Litecoins is not that much easy when compared to the other crypto currencies like Ethereum (ETH) and Bitcoins (BTC) especially in India. Still, there are few methods by which you can buy Litecoin in India.
Merits of Litecoins:
- It finds efficient applications in various websites and of course, it contributes the future of digital currency in the crypto field.
- An upcoming feature of Litecoin is that it is accepted as the most efficient payment option in various shops for buying various goods.
- It facilitates faster and instant payments all over the world.
- Litecoin payments do not involve any transaction charges.
- Litecoin recently activated Segwit for better performance.
How to Buy Litecoin in India
After RBI circular, purchasing Litecoin (LTC)or any other crypto for INR is possible only through P2P cryptocurrency exchanges. Here is the list of best exchanges to buy Litecoin in India.
Out of the various online websites available for the trading of Litecoins, there are basically three other options for buying Litecoins are as follows:
Method 1: Exchange Bitcoins or Ether from Litecoin in International Exchanges:
Exchange Bitcoins It is a highly reliable and faster method for buying Litecoins. You have to buy Bitcoin or Ether from your local exchanges and then send it to international exchanges. There are many exchanges where you can convert your Bitcoin or Ether to Litecoin or any other currency. Some of the famous exchanges are Binance, Bitfinex, Poloniex, Kraken, Bittrix, OKcoin and so on. Let me explain about few of them:
Bitfinex is the largest and greatest online platform in the World for crypto currency trading. It is simply specified as an advanced trading marketplace for crypto currencies, which are nothing but a type of digital or electronic currencies. In addition to Litecoins, it also offers to the trade of some other crypto-currencies like Ethereum, Monero, Zcash, Ethereum classic, Dash and Bitcoin. The most common pairs are Bitcoin/USD, Litecoin/Bitcoin, Litecoin/USD, dash/Bitcoin and dash/USD. Fees for conversion of coins is 0.1%. We have Published a detailed post on step by step procedure to buy crypto coins through BitFinex.
We have Published a detailed post on step by step procedure to buy crypto coins through BitFinex.
At HitBTC exchange you can access a large number of crypto coins, Tokens, ICOs, and Fiat at a single place which makes it better than other exchanges. Apart from technical merits and benefits, the page of HitBTC is eye-catching, easy to use, low advertising popup windows.
Okcoin is a company based in China that permits the users all around the world to purchase Litecoins instantly. In addition to Litecoins, it also facilitates the trading of bitcoins. It imposes only minimum charges for trading, which is approximately around 0.2%.
Method 2: Use of Instant Coin Conversion Sites
This is another method of coin conversion but much different from previous one. Before using this method you should create one Litecoin wallet because to apply this conversion technique you have to provide your Litecoin wallet address where they will send you converted coins. We have published a post on best Litecoin wallets, read it if you want to create a new Litecoin wallet.
It is the most trusted and best site for Litecoin purchase since it permits the users to trade Litecoins with all other types of crypto currencies. It facilitates the storage of all types of crypto coins in one single place. There are more than 500 crypto currencies in the market. This method allows you to convert your Bitcoin or Ether into a wide range of coins.
To use this method you have to send your coins to these websites and in return, they will send your opted coin into the wallet address that you have provided. There are two famous websites for coin conversion is given below:
Shapeshift: It is the most trusted site that helps the users in exchanging or transferring Litecoins with any other types of crypto currencies. It is exactly similar to Changelly except the fact that it imposes huge charges. It does not require any type of verification, in order to buy Litecoins. Read Shapeshift Review.
Changelly: It is also one of the best Litecoin purchase sites since it permits the users to do faster transfers or exchanges, in comparison with the other sites. It does not need any verification for Litecoin trading. Miner Gate launched this platform in 2013 and it satisfies all the needs of the users. It contains a user – friendly interface and imposes only a minimum trading charge of around 0.5%. It supports Euros (EUR) and Dollars (USD). The users can be able to view all the past transactions done across this platform and they do not need an account for the trading or exchange of Litecoins. Read Changelly Review
Method 3: Buying Litecoins with Fiat Currencies (Through Credit Card)
In India, Litecoin purchase cannot be facilitated by companies like Coinbase. But the following are some of the companies that facilitate Litecoin purchase directly through Visa/Master Credit/Debit cards:
Before buying through Creditcard makes sure you have read fee and charges of conversion.
Litecoin Cloud Mining:
Mining is the process of generating your own coins. Genesis Mining is the only reliable and well-known platform which offers mining contracts for Litecoin, Bitcoin, Ethereum, Dash, Monero, and Zcash. Genesis Mining offers limited contracts for Litecoin mining. You may check the availability of contract on Genesis mining website.
We have discussed three different methods about how to buy Litecoins in India. But these methods are not limited to Litecoin only; you may apply the same procedure for other coins too. Hope you enjoyed this post and it will be helpful for you. Please share your feedback and experience in the comment section below.