Litecoin is a cryptocurrency that was built in response to Bitcoin. It was created to enable lower-cost transactions, therefore making it possible to be used in everyday life. It isn't meant to replace Bitcoin, but rather act like silver, to Bitcoin's gold. Bitcoin is viewed as a cryptocurrency that carries long-term value, similar to a digital version of gold. Litecoin is meant to be used frequently in transactions. If you believe in the future potential of Litecoin, and want to invest in it now, read on to find out how to do so. It is quick and easy with our step-by-step guide.
Where to buy LTC (Litecoin)?
LTC (Litecoin) is a very popular cryptocurrency, and one of the largest cryptocurrencies by market capitalisation, so you will be able to find it at many crypto exchanges in Australia. The biggest factor is that you choose an exchange that is safe and legit, so you don't get scammed. We recommend you choose an exchange from our list of the best crypto exchanges for Aussies, as they are all tested by us, and we can confirm they are secure and trusted.
In this guide of how to buy LTC (Litecoin), I will include screenshots from my personal CoinSpot account, so you can also open an account with CoinSpot if you want to easily follow along. The reason I choose CoinSpot as my cryptocurrency exchange is for the following reasons:
- Over 360+ different cryptocurrencies supported, including LTC
- Most secure and trusted crypto exchange in Australia
- Largest Australian exchange with more than 2.5 million users
- Staking on 22 coins
- Live Chat support
- NFT marketplace where you can buy NFTs using any cryptocurrency you like
Exchanges where you can buy LTC
How to buy LTC (Litecoin)?
7 easy steps
Buying LTC in Australia is really easy, all you have to do is follow along with these simple steps, and you will have your own LTC in no time.
1. Sign up with a crypto exchange
The first step is to open an account with your crypto exchange of choice. If you haven't decided, have a look at this guide on the top crypto exchanges in Australia (click here). Or if you want to use my recommended exchange, which I will use for my screenshots, open an account with CoinSpot. You can also read my CoinSpot review first before you decide.
To sign up with CoinSpot, click this link and you will be taken to a page like the screenshot below. Click Register in the top right corner, then fill out your email, create a password, click to prove you’re not a robot, then click Create Account.
2. Verify your account
After creating the account, you need to verify your account. Click on the "Complete Verification" button and continue with any steps that show up. You need to verify your email, and then then enter your identification details and finally upload a copy of your driver license. It can take a while for your verification to be finalised, so you can have a look around your CoinSpot account and get comfortable with the interface.
3. Deposit money into your account
Once your account is verified, it's time to deposit AUD into CoinSpot. In the top left of the account, you will see the "Deposit Funds" button. Click on that, and you should see the deposit page (see screenshot below). You can use whichever method you like from that list, but my recommendation is POLi. Funds are deposited instantly and there is no charge incurred. Type in the amount you want to deposit, select your bank, and then click the "Continue to POLi" button to finalise your deposit.
4. Go to the Buy section in your account
Once your money is in your CoinSpot account, you are ready to buy some LTC (Litecoin). Click on Buy/Sell in the menu along the top, then search LTC. Click on Buy LTC and you will see the purchase screen, like the screenshot below. The price of LTC is shown clearly in the middle of the screen.
5. Select how much LTC you want to buy
Select how much AUD you want to spend on LTC, then click the Buy button. You will see a pop-up which confirms how much you are spending, the fee, and how many coins you will receive.
6. Buy LTC (Litecoin)
When you have checked that all the information is correct, you can click Confirm Buy to finalise your transaction. Congratulations, you are now the proud owner of some LTC!
7. Store your LTC safely
Now that you have made your purchase of LTC (Litecoin) you can find it in your CoinSpot wallet by clicking on Wallets at the top of the screen. You can see how much LTC you own, and the value in AUD. You can leave your LTC in CoinSpot, which is the most secure crypto exchange in Australia. If you prefer to be even safer, you can send your LTC to a personal wallet. You can click here to read about the best crypto wallets for Australians.
Frequently Asked Questions
Yes, it is perfectly legal to buy, sell and own LTC (Litecoin) in Australia.
If you choose a trustworthy and secure cryptocurrency exchange, it is safe to buy LTC in Australia. CoinSpot is the #1 top crypto exchange in Australia, and you can be assured that it is safe to buy LTC using their platform.
If you want to buy other cryptocurrency such as Bitcoin, Dogecoin or Ethereum, you can follow the same steps above, but in Step 4, type in the coin you want to buy instead of LTC (Litecoin).