How to Buy Litecoin

Two Ways to Buy Litecoin with Cash
By 
Coin Cloud Team
, published on 
October 12, 2020
How to Buy Litecoin

Bitcoin’s great, but there are so many other digital currencies you can buy, trade and sell. In particular, we often find people asking how to buy Litecoin. Especially how to buy Litecoin with cash.

What is Litecoin?

Litecoin (LTC) was launched in 2011 as the “lite version of Bitcoin.” Its developers have always maintained that they were creating the “Silver” to Bitcoin’s “Gold.” Because of that, it keeps many of the features of Bitcoin while changing what the founders felt could be improved.

Like Bitcoin, Litecoin is an open source, peer-to-peer decentralized global payment network that lets people control their own finances. But it has faster transaction times and improved storage efficiency. While BTC’s transaction confirmation process takes almost 10 minutes — the time to verify a block and add it to the blockchain — Litecoin takes only 2 ½ minutes, or 25% of the time.

The LTC mining process is similar to BTC, but Litecoin uses a newer and less complex algorithm. Rather than a 21-million-coin limit, Litecoin has a limit of 84 million (four times as much), with each unit being worth significantly less than BTC.

How do I Buy Litecoin with Cash?

If you want to buy Litecoin with cash, you have two options: 1. Peer-to-peer (P2P) exchange 2. Bitcoin ATM

While P2P used to be the only way to do this, the process is a bit archaic and convoluted, so most people choose not to do it that way. This method involves negotiating with a stranger online, then meeting them in a public place to give them cash and hope they deliver on the LTC. If they don’t, there’s not much you can do. You have to trust them, and it’s easy for them to scam you, rob you or worse.

Today, the preferred method of buying Litecoin with cash is to use a Bitcoin ATM. While not all BTMs sell Litecoin, Coin Cloud machines do (plus 29 other altcoins).

Buy Litecoin at a Coin Cloud BTM

For this method, you just need to find your nearest Coin Cloud Bitcoin ATM, either with the Coin Cloud Wallet app or online at the Coin Cloud website map.

Take your cash to the machine and after entering your phone number to start the process, choose Litecoin as your currency. Scan your mobile wallet, and receive your LTC. The process is quick and easy, and if you have problems or questions, our best-in-class customer service team is available 7 days a week.

Disclaimer: The information and views supplied on the Coin Cloud blog are for educational and entertainment purposes only. We are not financial advisors, so please do your research and consult with a trusted financial specialist before investing your money.

What is Coin Cloud?

Founded in 2014 in Las Vegas, Nevada, Coin Cloud is the leading digital currency machine (DCM) operator. With over 4,500 locations nationwide, in 48 states and Brazil, Coin Cloud operates the world’s largest and fastest-growing network of 100% two-way DCMs, a more advanced version of the Bitcoin ATM. Every Coin Cloud DCM empowers you to quickly and easily buy and sell over 40 cryptocurrency options with cash.

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