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How to buy Litecoin with Debit Card in 2022
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This beginner friendly guide explains how you can buy Litecoin using a debit card in 2022. Continue reading to find a step-by-step guide, a list of the top brokers accepting debit cards, and answers to common questions.
Can you buy LTC with a debit card?
Yes, you can buy Litecoin using a debit card with most brokers. The best cryptocurrency brokers usually have a range of different payment options available and debit cards are usually at the top of the list. Using a debit card to buy LTC is often the preferred method for investors who want to use fiat currency to buy crypto.
Where can I buy Litecoin with a debit card?
In the table below our crypto experts have selected three of the top brokers who let you fund your account using a debit card, which you can then use to buy Litecoin. Click any of the links to register in just a few minutes.
How to buy Litecoin with a debit card – a step-by-step guide
The guide below explains how you can buy Litecoin using a debit card. The process can be replicated across all brokers who accept this payment method.
- Create a debit card account. The first thing you need to do is get a debit card. For many people who already have a bank account, a debit card is something that is familiar. Applying for a debit card can sometimes take a little while and you’ll be required to provide identification before being accepted.
- Find a broker and sign up. You can use the table above to register with a broker that accepts debit cards, or you can search for one. Signing up is a quick and easy process and you’ll need to verify your identity and account before making your Litecoin purchase.
- Deposit money using your chosen payment method. When your broker account is up and running, you’ll need to deposit money into it. All you have to do is click the deposit funds button, fill in your card information, enter how much money you want to deposit, and click the button.
- Search for the coin you want to buy. Once your account is funded you will be ready to start buying your coin. Just search for Litecoins ticker symbol, LTC, in the search bar and you’ll be taken to its page.
- Execute the trade. If you’re happy with LTCs current market price all you need to do is enter the amount of coins you want to purchase and click the buy button. Your trade will now be live and you will be able to check on it in the open positions page of your broker account.
Top platforms that accept debit cards
A lot of brokers accept debit cards and in the section below you’ll find three of the top platforms to buy LTC right now using one. We’ve explained the benefits of each broker and a quick explanation of how to use a debit card with them. Read on to learn more.
Use debit card with eToro
eToro is one of the most popular platforms around and you can invest in lots of different assets including stocks, forex, commodities, and crypto. A lot of brokers only offer a few coins, but eToro has a wide range of tokens to choose from and using a debit card is the easiest way to fund your account.
When it comes to buying Litecoin with eToro you have a lot of options. You can buy LTC in USD, EUR, AUD, GBP, and NZD. Using a debit card is easy with eToro. Once you’re logged in, simply click on the deposit button, before using your debit card to fund your account. There are no fees to deposit or withdraw when using a debit card.
Use debit card with Coinbase
Coinbase is one of the leading cryptocurrency exchanges around and has over 20 million users. You can use Coinbase to buy and sell coins, store coins in a wallet, and spend them using a crypto debit card. It has one of the largest ranges of different tokens and using a debit card to fund your account is an easy process.
However, you can only buy cryptocurrency with Coinbase using a debit card if your card supports ‘3d secure’. This is a function that adds an extra layer of security to your transactions. Usually, when using a debit card that is 3d secure, before making a purchase or transfer, your bank will verify your transaction with a text message or security question.
If you want to buy Litecoin with a debit card all you have to do is go to the payment page when logged into your account. Next enter your debit card details and hit enter. Now your account will be ready to use and all you have to do is go to the LTC trading page and you’ll be able to directly buy coins using your debit card.
Use debit card with Binance
Biance is another cryptocurrency platform that lets you use a debit card to buy coins. Similar to Coinbase above, Binance is one of the most popular exchanges around and has lots of different coins on offer. Using a debit card on Binance is a simple process and you can buy LTC directly from one.
All you need to do is log into your account and click buy crypto. Then from the drop down menu you will need to click the debit card option. From here you can choose the coin you want to buy and the amount of fiat currency you want to spend. The system will automatically calculate how many coins you will receive for your fiat.
When you’ve confirmed your transaction, you just need to enter your card details and click the buy button. You’ll be able to check on your coins by navigating to the order history section of your account.
Should I use a debit card to buy Litecoin?
Debit cards are the easiest way to buy Litecoin for many investors and traders. Your debit card connects to your bank account, so it’s easy to track funds in and funds out. Depending on your bank and broker, trades can happen in just a few minutes and in some cases instantly. Most debit cards offer high levels of security to protect you against fraud, even when purchasing crypto currency.
Although, there are some difficulties when it comes to using a debit card to buy cryptocurrency. One of the biggest drawbacks is that debit cards can’t hold crypto, so when it comes to withdrawing, you’ll have the additional step of converting your LTC to fiat before it hits your bank.
What are the fees for buying LTC with a debit card?
All platforms will have slightly different fees so it’s worth checking with your broker before using a debit card. However, most platforms wont charge a fee when depositing or withdrawing, although you may encounter other fees. One thing to look out for is the spread; the difference between the buy and sell price.
Why don’t more brokers or exchanges support debit cards?
In 2022 most brokers and exchanges do generally support debit cards, although not all of them do. Some platforms only operate using cryptocurrencies meaning you’ll have to buy a coin like BTC, before transferring and using it to buy another coin. However, the most mainstream platforms do accept debit cards.
Alternative payment methods
If you don’t want to use a debit card there are lots of different ways you can add and withdraw money from your platform. It is possible to use things like credit cards, Paypal, and Apple Pay. There are also lots of different payment providers that are specific to certain regions like Payoneer and Swish.
FAQs
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.
- https://help.coinbase.com/en/coinbase/getting-started/add-a-payment-method/how-do-i-buy-digital-currency-with-a-credit-or-debit-card-in-europe-and-the-uk
- https://www.binance.com/en/support/faq/8df758a570ba4d18941f38423f63aae5
- https://www.etoro.com/en-us/customer-service/help/1647603612/how-do-i-deposit-with-a-debit-card/
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