This allows you to take advantage of shifts in the market without ever owning a single Litecoin. Fuel your account with one of the most widely traded commodities. Browse our range of financial products or head over to our blog and other informational content to learn more about Axi. Yes, all of our 16,000 markets are available on mobile as well a desktop. The value of shares and ETFs bought through a share dealing account can fall as well as rise, which could mean getting back less than you originally put in.

Exchanges are also easier to use and more geared toward novice traders, while broker firms tend to be more complex. Brokers are a better choice for veteran traders who need advanced trading tools, leverage, faster transaction speeds, and high liquidity. However, many exchanges that offer derivatives also have a lot of those features, so you can enjoy all of those benefits on a single platform.

Often, people will buy an amount of cryptocurrency with the hope that it will increase in value over the medium/long term. In a nutshell, Litecoin trading involves speculating on the price of the token – trying to predict whether its value will increase or decrease over a given period. As investors focus on crypto as a hedge against banking and currency risks, these tokens continue to generate significant interest. 7b – This reliable and convenient crypto broker provides its users with 24/7 chat support, the best rates, and more than 2000 cryptocurrencies for trading.

eToro – Best Place to Buy Litecoin

Litecoin can validate and add users’ transactions to the blockchain in 2.5 minutes, shaving off more than ¾ of the time it takes Bitcoin to confirm one transaction on its network. Although Litecoin has been hailed as a new kind of money, investors are the driving force behind its price gains. Investors will also consider the company’s market capitalization when determining whether to purchase or sell. Keep in mind that, unlike if you were to buy and sell litecoin, you won’t need an account with an exchange. This is because you trade on the prices offered, which we derive from multiple exchanges on your behalf. Many point to litecoin’s wider supply as a key reason for its lower price point than bitcoin.

In terms of fees, eToro charges just 0.5% on deposits – irrespective of the payment method. The INX Digital Company inc. is an expert in the field of finance, crypto and digital securities. Litecoin is a currency many people hang onto in the hope that it will appreciate. You may save your Litecoin in the most user-friendly and secure mobile wallet. LTC was supposed to be a deflationary currency, with a maximum circulation quantity of 84 million coins. The block reward is half every 840,000 blocks until it reaches zero.

One of the platforms where you can trade Litecoin is through an online brokerage firm such as that of PrimeXBT. A brokerage firm allows you to buy and sell Litecoin on the platform, and you have to part with some trading fee for the transaction to be facilitated on your behalf. The cryptocurrency market is still new, and therefore the prices are very volatile.

According to the technical indicators, https://1investing.in/’s average price for 2024 will be $182. While the minimum price of the coin is expected to be $175, it will eventually hit $200 and reach even $210 as its maximum price. If you hit a snag, you will need to reach out to the exchange to sort this out. This means you have to work with an exchange with a great customer support service.

MACD Litecoin Trading Strategies

Cryptoasset investing is unregulated in most EU countries and the UK. CFD crypto trading is unavailable for clients residing in the UK and US. Before they took off) tend to rely on other investing theses to continue to hold digital currencies. One of the key concepts many crypto investors have adopted is the idea that cryptocurrencies can provide an alternative to the banking system, which has faltered in the past.

It all started with the bankruptcy of a popular crypto exchange FTX which was followed by the bankruptcy of another crypto exchange – BlockFi. Litecoin has also somehow suffered from the fallouts of the “crypto winter”, though not as much as many other cryptocurrencies. Like several others in this niche, the eToro crypto wallet allows you to store your Litecoin assets.

Ready to trade your edge?

A reputable broker will have safeguards in place to protect your investments from scams, fraud, and theft. Some platforms only cater to traders in the U.S., for example. Others support multiple jurisdictions, but they may limit what users outside the U.S. can do. Keep all this in mind when you’re coming up with your trading strategy. Many rookie traders who want to know how to trade Litecoin often fail to appreciate the importance of installing safeguards that protect their capital against sudden volatility.

But if depositing more than $2,250, or requesting a withdrawal – you will have to complete this step eventually anyway. As you can see, there are heaps of factors to consider before taking the plunge and trading Litecoin. You have made it this far, so by now you no doubt have a clear understanding of how to trade Litecoin. If, on the other hand, you expect the price to drop, then you open with a sell order. Each provider will have its own onboarding process, but for most you will need to provide a few details and verify your identity.

Storing Litecoin: What is a wallet? Why do I need it to store cryptocurrency?

Investing in Litecoin has proven profitable in the past, but over the last two years of the bear market prices have mainly been falling. Even if things are turning around, trading Litecoin is the better option, as traders can profit whichever way Litecoin turns and make money both directions. You can conduct your own research and analysis to determine what the price of Litecoin might be in the coming years. Being in control of your decision making process can help you avoid investing in assets that are beyond your risk appetite.

It may not have been Charles Lee’s intention, but one way in which litecoin is similar to silver is in the price relationship it shares with its more illustrious cousin. Where gold goes, silver often follows; where bitcoin goes, litecoin often follows. Litecoin is a cryptocurrency that is built on a modified version of Bitcoin’s code. The blockchain and economic structure are very similar and even have the same block reward halving mechanism every four years.

How to Buy Litecoin – Quick Guide to the Best Brokers for Buying Litecoin in May 2023

It is specified that the past performance of a financial product does not prejudge in any way their future performance. The foreign exchange market and derivatives such as CFDs , Non-Deliverable Bitcoin Settled Products and Short-Term Bitcoin Settled Contracts involve a high degree of risk. They require a good level of financial knowledge and experience. Many platforms offer different levels of leverage with ratios ranging from 2x to 100x, and some services offer even higher multipliers than this. For example, if a platform offers 10x leverage, then a user can hypothetically trade $5,000 worth of Litecoin for only $500. While leverage trading can be very profitable, it can also amplify your losses.

• It’s a good idea to use a combination of both methodologies when making trade decisions, in order to account for all facets of the market.
• A few mobile wallets that allow you to store LTC include Edge, Mobi and Exodus.
• If Litecoin gains the same level as Bitcoin in the future, LTC could make a strong uptrend.
• Litecoin trading involves speculating on the price movements of LTC for a profit using online brokers and exchanges.
• Just like you need a place to store your crucial document and certifications, you need to find a secure place to store your Litecoin funds.
• When trading with a broker, you don’t actually own a digital asset; you instead buy or sell a derivative contract that is tied to the market price of LTC.

What really makes the price of LTC go up and down is supply and demand, no matter how corny it sounds. While the major exchanges have insurance against hacking events and such, you might opt to store your Litecoin in one of these offline wallets. When your purchase is complete, you might own full Litecoins or partial coins.

However, some brokers offer support for e-wallet solutions like PayPal and Skrill. All digital currencies use blockchain technology, and the underlying framework of this solution rides on transparency, meaning all transactions are open to public scrutiny. So your Litecoin transactions will be shared and traceable by everyone in the world. So if you are uncomfortable with this, you should reconsider buying Litecoin.

You can also sell or short your Litecoin position if you determine that the asset may drop in a few hours. Long-term holding is highly profitable, and for several investors, this is the best strategy to adopt. For instance, if you bought $1,000 worth of Litecoin for 30 cents in 2011 and held it till May 2021, you would be smiling to the bank with more than a million dollars in your pocket. One thing you may have noticed is the different strategies investors use in the crypto market. While some prefer to hold for the long term, others are much more comfortable trading LTC. Looking at the technical analysis of Litecoin’s future price, we notice that the coin is expected to be traded above $100 throughout 2023 with an average price of $125.

We’ve only just scratched the surface; many other factors can affect your decision when choosing a trading platform. These include security features, deposit/withdrawal methods, trading fees, trading tools, data aggregation, and more. Your position will grow in value as Litecoin’s price increases and vice versa.

Enroll in an Axi Academy deflation course, designed by traders, for traders. The information in this site does not contain investment advice or an investment recommendation, or an offer of or solicitation for transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. Litecoin markets close at 9am on Saturday AEDT, then reopen on Saturday at 7pm AEDT. This option does not involve you taking ownership of any cryptocurrency, so you never need to deal directly with an exchange. To close your position, simply make the opposite trade to the one you made to open.

There are many informative pieces online with all the details about Litecoin. However, it is important to do your own research to determine whether LTC is a good addition to your investment portfolio. Exchanges have also been built to be convenient to new and expert traders.

Unregulated platforms have a high probability of being shut down for non-compliance, and some may even be scams designed to trick unwitting traders. All the trading strategies and market analysis in the world won’t matter if you don’t have the right platform for trading Litecoin. However, it also carries risks because you aren’t getting the full picture. Skilled traders tend to have safety nets in place to cushion them from losses.