How to buy Litecoin
Is this not entirely clear to you? No worries! Our team always stands ready to assist! It's our goal to make cryptocurrencies available to everyone. To reach this goal, it is crucial that our customers are well informed about Litecoin. You can contact us through the live chat, located at the bottom of this page.
Get the best Litecoin prices using SATOS
Step 1 – Create a Litecoin wallet
At SATOS, we aim to make purchasing cryptocurrencies as convenient as possible. That's why we decided to operate without website accounts. The only thing you will need to purchase Litecoin from us is your own Litecoin wallet. If you do not have such a wallet yet, we recommend you to have a look at our dedicated Litecoin wallet page, where we explain how this process works. A Litecoin wallet is best described as a bank account that you are in complete control of!
Step 2 – Place a Litecoin order
After you have created a Litecoin wallet, the rest of the process becomes a piece of cake. We will first like to know how much Litecoin you wish to buy. You will then be shown the real-time exchange rate that we use to process your order. Do you agree with the proposed rate? Then click on ‘Place order’. In the next screen, you will be asked to enter your email address and Litecoin recipient address. You can find your recipient address in the Litecoin wallet you have just created (in case you didn't already possess one).
Step 3 – Paying for your Litecoin
Next up is paying for the reserved Litecoins. SATOS allows payments through iDEAL, Bancontact, or SEPA. We do advise the use of iDEAL if possible, as it is the fastest payment method. Once you have paid for your order, we will safely reserve your coins and prepare them for depositing. You can now specify the wallet address you want to send your coins to.
Step 4 – Verification
Alas, even SATOS is obligated to follow up on verification procedures as after you have placed your order, we will ask you to briefly verify yourself. We will thoroughly explain our verification procedures on your personal transaction page as well as indicating which procedures apply to you. Do not fret, it is not rocket science and if you are curious about what our verification procedures are you can always check our current verification methods. Once you have handed in the specified verifications, our compliance team will do their best to quickly assess and verify your documents, after which they will process your order as soon as possible.
Up-to-date with our verifications? Then we will process orders to known addresses almost instantly!
Do you need help buying Litecoin? No problem, we stand ready to assist! Every day, SATOS strives to make buying and selling cryptocurrencies as simple as possible. After all, trading concerns your money, which is why it is vital that you are well informed and act safely. You can reach our team through the live chat, located at the bottom of this page.
Why do people invest in Litecoin?
- Litecoin has already been around since 2011. It's one of the first and most successful Bitcoin split-offs.
- People invest in Litecoin because it aims to complement Bitcoin. Whereas Bitcoin is the digital gold, Litecoin is the digital silver.
- Litecoin is a lighter and faster version of Bitcoin focusing on everyday payments.
- Litecoin has always been one of the first to adopt new technologies. For instance, it was the first coin to implement SegWith (a feature that makes the storage of transactions more efficient).
- The first-ever Lightning Network transaction was also conducted with Litecoin.
- Finally, on September 20, 2017, Litecoin became the first coin to participate in a direct transaction between two different blockchains, a so-called atomic swap.
Why do people use SATOS to buy Litecoin?
- Speed: orders are processed directly, seven days per week.
- Reliable: SATOS has been the Netherlands’ primary broker for selling and buying Litecoin for more than five years now.
- Support: the SATOS team stands ready to assist, seven days per week. We offer live support through chat and social media.
- Secure: we do not manage our clients’ assets. Litecoins purchased through us always remain in your own hands.
- Straightforward: paying for your order is a piece of cake with iDEAL, Bancontact and SEPA.
We appreciate our customers’ feedbacks! Here’s what some of our customers say about our work Trustpilot.
Always use your own Litecoin wallet
Indeed, our name already suggests that we share Satoshi Nakamoto's vision that people should have the possibility to be in charge of their assets. After you have created a Litecoin wallet, you are no longer dependent on anyone else for managing your Litecoins. In short, you are now in charge of your own fortune. On our Litecoin wallet page, we explain how you can create a Litecoin wallet within just a couple of minutes.
What are some of the differences between Litecoin and Bitcoin?
- The maximum Litecoin circulation has been set at 84 million. In comparison, Bitcoin has established its limit at 21 million.
- A new block is added to the Litecoin blockchain every 2.5 minutes. Bitcoin expands its blockchain every ten minutes.
- Litecoin also used a different hashing algorithm for miners, which is incompatible with existing specialised mining hardware. This serves to discourage mining farms and helps keep Litecoin accessible.
- Litecoin was launched in 2011, whereas Bitcoin already went live in 2009.
- The Litecoin blockchain can process 61 transactions per seconds. In contrast, the Bitcoin blockchain only manages to handle seven transactions each second.
What should I keep in mind when buying Litecoin?
The crypto market is extremely volatile. The Litecoin exchange value forms no exception to this. Always keep this in mind when you plan to purchase Litecoin through SATOS. We consider it essential that people realise that the enormous Litecoin price surges from the past offer no guarantees for the future.
Cryptocurrencies still find themselves in a very early stage of development. On the one hand, this makes investing in it an exciting endeavour, because the potential profits are momentous. But this also entails a high level of risk. Don't forget that Litecoin has only existed since 2011. It hasn't been around for long.
Nevertheless, Litecoin is nowadays one of the most popular altcoins, and the crypto community considers the project very promising. The coin operates differently compared to Bitcoin, which is why its blockchain can handle more transactions per second. Whether Litecoin will still be regarded as the fast and ‘light’ variant of Bitcoin in the future remains to be seen. Just like with any other investment, it's vital that you inform yourself well before you decide to invest in Litecoin. After all, there are plenty of factors influencing the coin's exchange rate.
Can I also sell Litecoin at SATOS?
It's not only possible to buy cryptocurrency from us; you can also sell it to us! We consider it essential to offer our customers a platform that they can always fall back on to transfer their euros to cryptocurrency and vice versa. Therefore, you can also use our services to sell your Litecoins for euros.
Wondering what other cryptocurrencies you can buy and sell at SATOS? Take a look at these pages: