What is Litecoin & Where To Trade It

Below is the Best10 Team's choice of the best Litecoin Brokers & Exchanges available. We have narrowed the selection for you based on security, functionality, instruments, commissions and ease of use.

Best10 selects

Broker
Features
Our Score
Visit Site
Best Provider 2021
  • $200 Min. Deposit
  • 24/7 Trading
  • CySEC & FCA Regulated

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Most Popular Choice
Visit Broker
Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.
3000+ Stocks
$200 Minimum Deposit
Mobile App
  • No.1 trading app in the UK and Germany
  • Regulated by FCA
  • Zero commission stock trading service

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Most Popular Choice
Visit Broker
Your capital is at risk
10K+ Global Stocks
$10 Minimum Deposit
Mobile App
  • Low spreads
  • No commissions
  • Fast execution.

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Most Popular Choice
Visit Broker
Your capital is at risk. Other fees may apply.
2000+ Instruments
£100 Minimum Deposit
Mobile App
  • Currently unregulated
  • Low trading fees
  • Mobile and desktop apps available
  • Registered in Saint Vincent and the Grenadines

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Most Popular Choice
Visit Broker
Your capital is at risk
All Main Cryptos
$100 Minimum Deposit
Mobile App

What is Litecoin?

Litecoin is an alternative cryptocurrency to bitcoin, created in 2011 by Charlie Lee, formerly of Google and Coinbase. Litecoin is often referred to as the 'silver' to bitcoin's 'gold'. Litecoin functions in one sense like an online payment solution, where users can transfer units of value to one another� in this case 'Litecoins'.

  • Litecoin is created and processed in much the same way as bitcoin. Unlike bitcoin:
  • transaction times come in at 2.5 minutes, compared to bitcoin's 10 minutes
  • there will ultimately be 84 million litecoins, compared to bitcoin's 21 million
  • Litecoin uses the cryptographical algorithm Scrypt, whereas bitcoin uses the SHA-256 algorithm, making mining more within the reach of everyday users.

Why the big fuss?

Because of its blockchain protocol, Litecoin can handle many more transactions than bitcoin (4 times, in fact), making it more suitable as an online payment system.

In addition, Litecoin's transaction costs are minimal, costing 1/1000 of a Litecoin per transaction, regardless of its size. Compare this with Paypal's 3%, and you can start to see its attraction.

What can I buy with Litecoin?

There is a growing number of outlets that accept Litecoin as payment. As yet, however, there is no definitive list we can point you to, so finding somewhere that accepts them is a bit hit and miss right now. Litecoin will need much greater take-up than currently to become a mainstream form of payment.

Where can I buy, sell or trade Litecoin?

We recommend you buy, sell or trade Litecoin at a trusted broker. Our favourite is at the top of this page.

Risk Disclosure: Trading in financial instruments involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Before deciding to trade in financial instruments you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Best10Stockbrokers would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Best10Stockbrokers and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Best10Stockbrokers and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Best10Stockbrokers may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.