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Invest in Litecoin
Ways to invest in Litecoin
The first thing you need to do is sign up to either a broker or cryptocurrency exchange. While these services function in different ways, they both allow you to buy, sell and trade cryptocurrencies like Litecoin, though there are pros and cons to each service.
The options don’t end here. There are various other ways to get involved, such as a mutual fund, a trust, or even a crypto debit card. On this page, we explore the top methods and provide links to bolster your knowledge.
What is Litecoin?
Formed back in 2011, Litcoin is one of the oldest cryptocurrencies. It is viewed by many as the little brother of Bitcoin, and though it doesn’t have the same sky-high valuation, it has been one of the top-performing cryptocurrencies in recent years. It was formed via a fork-off from Bitcoin, and it claims to offer better transaction speeds and new, innovative features.
If you’re just starting to learn about cryptocurrency, then check out our Bitcoin 101 course for a handy introduction to the topic. If you would rather continue to learn about Litecoin, keep reading.
How to invest in Litecoin
There are plenty of ways you can gain exposure to the market performance of Litecoin. Gain an understanding of each of them by reading the list below, and click on any of the links to find out more.
- Litecoin brokers. If you want to get Litecoin quickly and conveniently, the best option is an online broker. These are platforms that allow you to buy and sell Litecoin instantly at the current rates advertised on their websites. However, this convenience does come at a cost, with commissions often being high when Litecoin investing through a broker.
- Litecoin exchanges. Exchanges are effectively crypto marketplaces that allow you to buy, sell and trade Litecoin with other users. Prices are generally lower than brokers, and there are a greater number of cryptocurrencies available.
- Litecoin ETFs. ETFs (Exchange Traded Funds) are a collection of cryptocurrencies, stocks and assets – usually in the same industry – that trade together like a single coin or stock. Very few ETFs currently support Litecoin.
- Litecoin funds. Some large funds are interested in Litecoin, but there are significant barriers to entry. To invest in a major fund, you need a substantial amount of capital, and this isn’t achievable for everyone.
- Litecoin mutual funds. These are more affordable than major funds, and it involves people pooling their capital together and a fund manager investing it on their behalf. This can generate consistent profits for all, though your mutual fund choices are limited for cryptocurrencies at the moment.
- Litecoin trusts. There are few, if any, Litecoin trusts right now, though this may change. Trusts trade just like stocks, and they can be a way of getting exposure to the price of Litecoin without having to own it outright.
- Litecoin debit cards. These are becoming increasingly popular. They are cards that allow you to spend you Litecoin in everyday interactions. For example, doing your weekly shop, or filling up your car at the gas station. Fees remain high, though they are falling gradually.
- Litecoin apps. If you want to make a move on the go, there plenty of apps you can use, and each comes with its own pros and cons. Most online brokers have a mobile app you can link to your account, making controlling your portfolio easy.
- Litecoin wallets. If you plan on holding your coins to speculate on long-term price increases, or even if you just want enhanced security, a crypto wallet could be for you. These come in both online and offline form, and they allow users to store their crypto securely.