How to buy Litecoin with Debit card

Looking for a fast and convenient way to trade Litecoin? This guide explains how to use a debit card to do so.
By: Jonah Keri
Jonah Keri
Jonah Keri is a trader and analyst who spent 11 years at Investor's Business Daily covering the markets. He… read more.
Updated: Jun 9, 2021
Tip: our preferred broker is, eToro: visit & create account

This simple guide explains how to use a debit card to deposit money into your cryptocurrency broker. It will also run through the pros and cons of using this method, plus detail some of the best brokers and exchanges that you can use.

Where can I buy Litecoin with a debit card?

We’ve compiled a list of top-rated brokers that accept debit card deposits. Use one of the links below to create an account and get started, or keep reading to learn more about what you should look out for. 

1
Min. Deposit
$50
Exclusive promotion
user-score
10
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA
2
Min. Deposit
$20
Exclusive promotion
user-score
9.3
Margin Trading with full legal compliance
Cryptocurrency staking
Various Payment options
Start Trading
Description:
Cex.io offers exchange of fiat currency for Bitcoin Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD.
Payment Methods
Credit Card, Cryptocurrencies, Debit Card, Wire Transfer, skrill
Full regulations list:
3
Min. Deposit
$10
Exclusive promotion
user-score
8.7
The broker offers access to a trusted MetaTrader trading system
Pricing is ensured to be completely transparent, also providing accuracy and speed
Trade a Wide Variety of Assets with Leverage up to 1:500
Start Trading
Description:
LonghornFX is a true ECN STP broker dedicated to delivering a superior trading experience to traders no matter their level of experience. Their services are based on transparency, innovation and efficiency, ensuring an unparalleled trading experience for all.
Payment Methods
Bitcoin, Credit Card, Debit Card, Visa
Full regulations list:
LonghornFX offers high-leverage trading on a wide variety of assets. Trading with leverage carries a degree of risk which may result in losing more than your investments. Clients should practise risk management to protect themselves from losing more than they can afford when trading with leverage.

What is a debit card Litecoin broker?

A broker is a middlemen, facilitating trades you wish to make in the crypto space. It offers Litecoin at a fixed price so you can buy or sell instantly without needing to find someone else to trade with. Not all brokers offer Litecoin and not all of them accept debit cards either, so make sure you do your research before making your final choice.

How to deposit and withdraw via debit card

Deposit

Different brokers can have some different procedures when it comes to making deposits. That said, here are some basic steps you can expect to follow when depositing money with a Litecoin broker using a debit card:

  1. Open an account with a Litecoin broker that accepts debit cards as a form of payment, then verify it with a form of ID.
  2. Go to your broker’s website, and select the debit card option on the “Add money” screen. 
  3. You will then be prompted to link your debit card to your brokerage account.
  4. Add money to your Litecoin wallet by entering an amount and selecting a debit card as the payment method.

Withdraw

You cannot withdraw Litecoin directly to your debit card because debit cards cannot hold cryptocurrency. What you can do is sell your coins for fiat currency and then withdraw that onto your debit card. 

If you have set up your card with your chosen broker/exchange in order to deposit funds, then you’ve already done the hardest part and can just select your debit card from the withdrawal options. Otherwise you simply need to select the “Withdraw” button and enter your debit card details to withdraw funds.

What should I look for in a debit card Litecoin broker?

The first step, of course, is to make sure it actually accepts debit cards as a payment method. That said, the broker you choose should offer more than that, ideally delivering superior service and value. Here are some key traits to look for when choosing one:

  • Competitive transaction fees. The fees you’ll have to pay to buy Litecoin with a debit card will vary depending on the service you use to make trades. Our guides will help you find the most reasonable transaction fees.
  • Speed. Your broker should be quick and offer transactions that execute in a few minutes or – ideally – instantly.
  • Ease of use. The best brokers make it a simple process, even for beginners. Don’t waste time with services that make the process overly complicated.
  • A strong reputation. Look for a broker with strong user reviews. Other people’s experiences can be a good guide for what you should expect if you used it yourself.
  • A verifiable track record. The broker you choose should have a track record of executing crypto purchases reliably for a number of years. The more long-standing the broker you choose is, the better.

Should I buy LTC using a debit card?

Pros

  • Fast. Choose the right broker, and your trade will happen in just a few minutes. In some cases, it can even happen instantly. 
  • Convenient. Your debit card connects to your bank account, so it’s easy to track funds in and funds out, and budget accordingly. Plus since you already use your debit card for all kinds of everyday purchases, you can stick to your normal buying routines.
  • Secure. Most major debit cards and the major partner banks that support those cards offer high levels of security to protect you against fraud, including when making crypto purchases.

Cons

FAQs

Can I remain anonymous when using a debit card?
Do I need a crypto wallet?
How fast are debit card purchases?
Can I buy Litecoin with a debit card instantly?
Are there low fees when using a debit card?
Can I hold cryptocurrency in my debit card account?
Does Coinbase accept debit cards?
Can I get other cryptos using a debit card?
Is a debit card the easiest payment method?
What’s the biggest pro and con of using a peer-to-peer exchange?
How easy is it to find a peer-to-peer exchange that accepts debit cards?
Is using a debit card recommended for beginners?
Is a debit card a more viable strategy if you plan to hold Litecoin for the long term?

Fact-checking & references

Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.

Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Jonah Keri
Financial Writer
Jonah Keri is a trader and analyst who spent 11 years at Investor's Business Daily covering the markets. He now writes about stocks, cryptocurrencies, and other… read more.