Bitcoin has undoubtedly created a buzz all over the world. In the advent of cryptocurrency literacy, more and more people have gone crazy over buying and selling Bitcoins.
But with this buzz comes more digital currencies that stood in their own niches. Litecoin is one of them. The use of Litecoin and its blockchain technology is very similar to Bitcoin’s. However, Litecoin was made for faster and cheaper transactions.
As BTC experienced drastic changes in price, so did Litecoin. Specifically in Australia, where legal concerns are regulated, trading in both currencies has become unpredictable.
If you are in Australia and are interested in learning the ropes of Litecoin, you have come to the right place. Here is a guide on where and how to buy Litecoin in Australia.
Where to Buy Litecoin
Currently, a Litecoin can be exchanged at around $223 AUD. You can purchase Litecoins in different digital currency exchanges and brokerage services like Binance and Independent Reserve. A bunch of other exchanges have different offerings too.
Coinbase Digital Currency Exchange allows its users to buy, sell and trade Litecoins, Ethereum and Bitcoins. You can pay in a breeze through credit and debit cards. They accept fiat currencies such as US dollars, Australian dollars, Euros and more.
If you are looking for an exclusive Australian marketplace for crypto trading, CoinSpot is for you. This is where you can buy, sell and trade using only Australian dollars. Aside from Litecoins, it also supports currencies like Dash, Neo, Stellar Lumens and more.
Another exchange that is based in Australia is BTCMarkets. In here, those who want to use Australian dollars exclusively can also look at other currencies like Bitcoin, Ethereum and Ripple.
CoinTree is also an Australian platform where users can trade with various currencies. Even the rather unfamiliar ones like Ripple, Aragon, Augur, Bancor and Clamcoin are accommodated in this venue.
Changelly is another player when it comes to exchanges from one crypto to another. They accommodate a bunch of distinct digital currencies like Dash, Ethereum Classic, Dogecoin, and even the China-based Neo. Their available fiat currencies are US dollars and Euros.
Meanwhile, eToro Social Crypto Trading is another unique platform. It is more of a venue for social investment exchanges. Transactions here are made via credit and debit cards, PayPal, WebMoney and more. The only fiat currency used is US dollars.
How to Buy Litecoin
Users can pick from a number of different payment modes when purchasing Litecoins. It really depends on what works and what’s more convenient.
Some users prefer buying through their PayPal accounts on specific digital currencies such as Cryptex24. If this doesn’t work for you, you may try buying a Bitcoin on VirWox exchange using PayPal. And then you can trade the Bitcoin for a Litecoin.
If you are a credit card holder, you can purchase your Litecoins from any of the following exchanges: Coinmama, 247Exchange, Indacoin, and Coinbase.
Since you are looking to buy them in Australian Dollars, it would be best to go for an Australian exchange, such as BTCMarkets or Independent Reserve, since they specifically supports AUD as fiat currency. You will not have to worry about getting charged with conversion fees.
If you don’t like direct purchasing using any of the payment methods mentioned, you can always try another way. You can just trade other altcoins that you have available and exchange it for Litecoins.
You can also do mining. This means you collect and record all your trading transactions on the fly without cashing out. You can get Litecoins by doing this.
Lastly, you can exchange Litecoins for other products or services by trading using your crypto wallets.
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