Uphold support eight cryptocurrencies, including litecoin! Learn more about this unique altcoin and how easy it is to move your funds across your Uphold wallet INSTANTLY.
As many know, bitcoin has dominated the crypto market for a decade. However, what first appears as total dominance (it remains the top cryptocurrency for market cap and trading volume), is actually shifting with the acceptance of other cryptocurrencies into circulation. First time buyers are looking at more than just the fluctuating price or the age of the Bitcoin network. Consumers look to a number of different influential factors, including…
- Crypto presence in the news
- Friends’ coin preference
Of course, some of these factors can be at odds. One day one cryptocurrency is soaring, while another is crashing. Research is valuable–if not essential–to success. A diverse cryptocurrency portfolio may be the best buffer to take advantage of market changes.
With a diverse portfolio, you can easily move funds between cryptocurrencies you are interested in. When the market changes, it’s easy to move to another cryptocurrency or a more stable fiat currency. For those who are hesitant to jump in with bitcoin, or are looking for an alternative option, litecoin is a popular altcoin that many traders consider when expanding their funds into other cryptos.
Why Buy Litecoin?
Litecoin has two value adds, which should be considered in the process of diversifying your crypto portfolio.
The first is that, like bitcoin, litecoin is one of the “older” cryptocurrencies with an already established history. This not only means that there is an increasingly stable community behind it, but also that it has proven to have staying power and the ability to evolve with the market. In fact, the Litecoin code was created off of the original Bitcoin code—a “fork”— in an effort to improve some of Bitcoin’s technical shortcomings.
This brings us to litecoin’s second value add, which is its transaction speed. While the Bitcoin network can only handle roughly 7 transactions per second, the Litecoin network is equipped to complete around 56 transactions per second. With this and a few other software improvements, Litecoin is setting itself up to become a long-term player providing real-world payment solutions and a solid path toward financial growth.
How To Buy Litecoin On Uphold
Our goal at Uphold is to make your experience of buying cryptocurrencies and maintaining a digital wallet as easy as possible; so here are a few simple steps to buy litecoin:
- After signing up for an Uphold account, you will have access to your dashboard, which is the homebase for all your money cards. You can customize your dashboard, set favorite cards, create multiple cards of the same currency if you’re looking to further diversify (say creating a vacation card like a virtual savings account). Just click “Add card/currency” and setup your new card.
- Once in your litecoin card select the “Add Funds” tab at the top. Choose from different methods of payment you can use to purchase litecoin, including your bank account, credit/debit card, or other cryptocurrency tokens (if you already own bitcoin, for example).
- In the final step, simply fill out the necessary information on the page that appears and specify how much litecoin you’d like to purchase. Then, click “Confirm” and you’re done.
Building Your Portfolio On Uphold
As you can see on your main dashboard, you can find all of the cryptocurrencies we offer in one place making it easy to control and update your portfolio.
Uphold serves 184+ countries across 30+ currencies providing you with access to a global market and the ability to make fast and low-cost transfers both domestically and internationally.
Simply put, we aim to make building and managing your diverse portfolio easy, fast, and fun.
This article should not be used as or considered investment advice. If you have questions regarding cryptocurrencies, tokens or any financial investments please consult your financial advisor.