Buy Litecoin LTC with PayPal
Like many other alt coins, at the moment there is no way to purchase Litecoin Cryptocurrency coins with a credit card, debit card or PayPal.
Again, the way to get your hand on some Cardaono (LTC) is to first head over to Coinbase. where you can buy Bitcoin, Litecoin, or Ethereum.
To get started Click Here to get $10 Fee Bitcoin
Use Bitcoin/Litecoin/Ethereum to Buy Litecoin
You will then use the purchased BTC, LTC or ETH to buy LTC Firstly you will have to choose a exchange that holds Litecoin such as Binance.
You send the currency from coinbase to the exchange of choice using a unique Deposit Address
once sent It usually takes a little while for the currency to land in the account, 10 minutes to half an hour (depending on the currency and the exchange used)
Once there you will then be able to choose the correct trading pair depending on which coin you purchased from coin base. BTC/LTC LTC/LTC or ETH/LTC
A Guide To Buying Litecoin With Paypal Or A Credit Card
In case you have been hiding under a rock for the past few years, you have heard about the ever-growing popularity of cryptocurrency. Many are viewing it as a great way to invest. Litecoin is one of the many options available on the market and many are interested in adding it to their portfolio. The main problem is trying to find a seller who will allow you to conduct the transaction with Paypal or a credit card. Here is a guide that will break down the entire process and make it much easier for you to understand.
Why Paypal (And Credit Cards) Are Disallowed
Before explaining exactly how to navigate this process, you may want to take a few moments to understand the reason this transaction has to take place in this manner. It seems it would be much easier to log onto a website selling LTC, press a few buttons and make a Paypal transaction easily. but this is not the case at all. Unlike it’s more popular counterpart Bitcoin, there is very little trust given to Paypal when it comes to this cryptocurrency type. In short, Paypal is seen as a serious liability, therefore it is not allowed.
The reasoning behind this is actually quite simple: buyer protection. When you make a purchase using Paypal and you are not satisfied, you can complain to the company and have them issue a refund. Since the financial giant tends to side with buyers in most cases, this could leave someone in a serious lurch by purchasing a substantial amount of currency and claiming that it was never received. Since there is no way to verify coins were sent, it is more than likely they will get their money back. As a result, Litecoin has decided to protect sellers by not allowing Paypal to be used as a payment option.
Credit card companies typically favour buyers in the same way that Paypal does. For example, they allow chargebacks for dissatisfied consumers. This is why they are not considered an acceptable form of payment.
BUYING BITCOIN
The first part of the process of using Paypal and credit cards to make Litecoin purchases is finding a secure, reputable site and buying some Bitcoin. Since this cryptocurrency is accepted as a form of payment when trying to purchase Litecoin, it is essential that you make this the first step of your process. Keep these tips in mind when making your purchase:
– Look for a time-tested website when trying to find an exchange. There are companies popping up every day who claim to offer Bitcoin, but some of them are only using the popular cryptocurrency to prey on people and gain access to personal information. Do ample research when trying to decide which exchange is the best one for your needs.
– Do not buy this currency with any money that you are afraid to lose. As with any investment, there is always a chance that something will go wrong during the process. You do not want a bad transaction to mean the difference between living your life well and being pushed into the throes of poverty.
– Use your own virtual wallet to hold your coins. Some of the larger exchanges will offer to do this on your behalf, but you should decline and have this part taken care of separately. If a company were to close down without notice, you would be out of luck, which is why offering anyone this much trust is a huge mistake. Check out all of the available wallets and choose one that you know will be the most beneficial.
Bitcoin happily takes Paypal as an option, so this is not something that you will have to worry about.
EXCHANGING BITCOIN TO LITECOIN LTC
After you have the amount of cryptocurrency you want, you will have to focus on making a conversion. There are many sites that offer to exchange Bitcoin to LTC, so you should not have an issue finding one. As with any online transaction, it is best to tread lightly and err on the side of caution to avoid dealing with sites that are owned by those who do not have your best interest in mind.
There are a couple of things to be on the lookout for when you are looking for an exchange:
Speed and Ease Of Use
No one wants to have a transaction take any longer than it has to. For most, the sooner the process is over with the better off they will be. For this reason, you should look for a site that is user-friendly, easy to navigate and has processing times that are some of the speediest in the industry.
Reputation
Simply put, you do not want to entrust your money to a company that does not have a clear-cut, positive reputation. Do some research and look up reviews and other feedback from people who have done business with any site you are considering. You should only move forward if most of what you see is positive. Otherwise, you may end up having a regrettable experience.
It is probably best to find an exchange site, a wallet and a great place to buy Bitcoin before you get started. This will help everything fall into place as time goes on. You do not want to halt your process several times in order to make sure you have time to find reputable businesses to work with. It is easier to be proactive and have this taken care of ahead of time.
Keep in mind that this is a rather drawn out and tedious process, but it is the only way to use credit cards and Paypal to buy Litecoin. If this is more than you are willing to take on, it is suggested you look for another form of cryptocurrency to invest in. In the event that you are fine with all that was mentioned here, forge ahead, but make sure that you exercise caution and take your time so no mistakes are made along the way.