Litecoin is one of the 30+ currencies you can buy and sell on Uphold. Find out how easy it is to get started.
Litecoin was created by former Google engineer Charlie Lee as a way to improve upon Bitcoin technology by making a more accessible cryptocurrency suitable for smaller transactions. Much like other cryptocurrencies, Litecoin relies on decentralized blockchain technology to process transactions.
Unlike Bitcoin, Litecoin has the unique advantage of faster confirmation times and runs on a different algorithm. It’s also unique in another way: Litecoin’s network generates blocks four times faster, thereby supporting significantly more transactions.
Today, litecoin is one of the most commonly used altcoins on the market. That’s why we refer to it as the digital “silver” to Bitcoin’s encrypted “gold.” In other words, LTC is made for lower cost, everyday transactions.
Here’s how easy it is to buy litecoin using Uphold:
How to Buy Litecoin(LTC) on Uphold
Setting up your Uphold wallet is easy. The platform functions as a digital version of your existing wallet, with the ability to add a range of digital cards linked to different currencies.
- Sign up! If you haven’t already, register your account and confirm your email address to get started.
- Get verified. It’s easy to become a verified member, which lets you get the most out of Uphold. All you need to do is provide a selfie, a government-issued ID along with Tax ID information depending on your geography.
- View Your Dashboard. The dashboard is an intuitive interface that allows you to keep track of your holdings with currency cards, just like you would in a regular wallet.
- Add a Litecoin Card. From your dashboard, click “Add Card/Currency.” Click on “Litecoin” in the drop down menu, and then hit “Create.”
- Add Funds to Your Litecoin Card. Adding funds to your Litecoin card is simple. After hitting the “Create” button, you’ll be taken to a screen where you can then add funds. Then you just select your preferred method of payment. For an existing Litecoin card, open the card and choose “Add Funds”. You can add funds from a bank account, transfer, other cryptocurrency card, and more.
Once you buy LTC, you can also buy, sell, or transfer between over 30+ supported currencies and commodities. While Litecoin might have a ways to go before mainstream adoption allows us to purchase goods with it everywhere, it’s already positioned as a complementary digital currency to bitcoin.
If you’re considering buying litecoin, Uphold simplifies the process. We make it easy to convert money from your bank account into LTC with minimal effort. Because of the transaction speed and low entry cost, Litecoin has some unique advantages over other altcoins.
This article should not be used as or considered investment advice. If you have questions regarding any financial investments please consult your financial advisor.