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How to buy Litecoin in the UK
As of 25 April at 15:03, Litecoin has fallen 2.36% from $85.11 over 24 hours. Learn how to buy Litecoin.
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Estimated reading time: 2 min
Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
What are the key risks?
1. You could lose all the money you invest
- The performance of most cryptoassets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in cryptoassets.
- The cryptoasset market is largely unregulated. There is a risk of losing money or any cryptoassets you purchase due to risks such as cyber-attacks, financial crime and firm failure.
2. You should not expect to be protected if something goes wrong
- The Financial Services Compensation Scheme (FSCS) doesn't protect this type of investment because it's not a 'specified investment' under the UK regulatory regime – in other words, this type of investment isn't recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS investment protection checker.
- The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm or Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA regulated firm, FOS may be able to consider it. Learn more about FOS protection here.
3. You may not be able to sell your investment when you want to
- There is no guarantee that investments in cryptoassets can be easily sold at any given time. The ability to sell a cryptoasset depends on various factors, including the supply and demand in the market at that time.
- Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay and you may be unable to sell your cryptoassets at the time you want.
4. Cryptoasset investments can be complex
- Investments in cryptoassets can be complex, making it difficult to understand the risks associated with the investment.
- You should do your own research before investing. If something sounds too good to be true, it probably is.
5. Don't put all your eggs in one basket
- Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well.
- A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
If you are interested in learning more about how to protect yourself, visit the FCA's website here.
For further information about cryptoassets, visit the FCA's website here.
Litecoin (LTC) is a cryptoasset that currently ranks as the 22nd largest by market cap (that's the total value of Litecoin in circulation – $6.2 billion).
Like all cryptoassets, it's highly volatile, and capable of major price swings in a single day. As of 25 April, LTC is trading for $83.10 (£66.43), a decrease of 2.36% against $85.11 24 hours earlier. Over the past year, Litecoin's price has seen a decrease of 6.64%.
How to buy Litecoin in 4 steps
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Compare crypto exchanges
The easiest way to buy Litecoin is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
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Create an account
To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
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Make a deposit
Once verified, you can deposit funds using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
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Buy Litecoin
You can now exchange your funds for Litecoin. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking "Buy". If you like, you can now withdraw your Litecoin to your personal wallet.
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
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Capital at risk. T&Cs apply.
- No fiat deposit/withdrawal fees
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Where to buy Litecoin
Find an exchange to buy, sell and trade Litecoin by comparing deposit methods, supported fiat currencies and fees. Select "Go to site" to sign up directly with the exchange.
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These exchanges cover a wide range of cryptocurrencies, but we can’t guarantee they’ll all offer this coin.
Is it a good time to buy Litecoin?
Only you can make the decision about when is the best time to buy Litecoin. However, here are some things to consider as part of your research.
Take a look at the fundamentals of Litecoin. What type of coin is it? Utility, payment or governance token etc? How large is its market cap? How many coins are in circulation? All this will help you to understand how Litecoin works and how much risk is involved.
Also consider how has performed so far. Our charts below show you Litecoin's performance over time as well as its all time high.
Recent Litecoin developments
2 November, 2023: Litecoin is up by 27% over the past year, although remains 83% down from its all-time-high of $410 set in May 2021
3 October, 2023: The price of LTC remained flat over September, finishing the month at US $66, the same price it opened at.
Litecoin 1 September, 2023: Litecoin block rewards have halved to 6.25 as a result of a halving, which halves block rewards every 4 years.
4 July, 2023: Litecoin price reaches a 12-month high of $114.
3 October, 2023: The price of LTC remained flat over September, finishing the month at US $66, the same price it opened at.
Litecoin 1 September, 2023: Litecoin block rewards have halved to 6.25 as a result of a halving, which halves block rewards every 4 years.
4 July, 2023: Litecoin price reaches a 12-month high of $114.
Litecoin to USD and GBP calculator
Our calculator works out how much Litecoin would be worth in USD and GBP, depending on how much you hold or are looking to purchase.
LTC price last updated 25 April 2024, 03:04 UTC.
*Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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