How to Buy Fast Litecoin with Credit/Debit Card
With all the passing day, digital currencies are becoming an integral part of our financial systems. The costs of these currencies are regularly increasing, proving a challenge for the government to regulate them. This development’s collection is due to the unmatched security of the transactions in this digital currency set up. Furthermore, the investors and regulators have also reduced the extra charges from banks and financial institutions. Soon, the transactions take place directly among sellers and buyers without any role of the intermediaries. Here has also increased the transaction speeds a lot.
What is Litecoin?
Litecoin is also a cryptocurrency that was founded in 2011. It also uses peer-to-peer blockchain technology for secure transactions at nothing price all across the world. Litecoin is more an open-source, decentralized global payment network anywhere all the transactions are safe through multiple encryption codes. A unique set of mathematics is employed to secure the payments by allowing the individuals to control their finances and transactions at any time. It has a business cap of $16.30 billion gives it the fifth largest cryptocurrency in the world. It is also one of these cryptocurrencies that have risen a lot in their values this year. Figures explain that the cryptocurrency has seen about 4000% increase in value since January 2017.
This means that the currency trading in about $300 was trading at about $4.33 in January 2017. In December 2017, the digital currency hit an all-time high value of $360.2. That marked an increase of about 4000% since January. All this is because it was an open-source currency and fast transaction speeds. The following are the significant features of this currency.
- The first and most attractive feature of Litecoin is its lightning-fast transaction speed related to other cryptocurrencies. A transaction in this payment system uses just 2.5 minutes to complete. That means that it is 100 times faster than Bitcoin and about four times faster than all other cryptocurrencies.
- The second feature of Litecoins is the value of the hashing algorithm ‘Scrypt.’ This algorithm serves to keep the mining of Litecoins realistic for desktop users. The algorithm also decreases the transaction time a lot. That makes Litecoin better than Bitcoin, where the SHA256d Algorithm is used. The Algorithm becomes more time and power-intensive with time.
- A different feature of Litecoin is the continuous support from the founder. Charlie is continuously starting the Litecoin users and investors to upgrade to Segregated Witness (SegWit). Completing this upgrade will bring currency innovations by making it more secure, fast, and reliable.
- The short supply of Litecoins in the market is also a useful feature of this digital currency. Nearly 84 million Litecoins are circulating in the market. The supply also makes it more significant than Bitcoin, which has only 21 million of supply. But limiting this supply to 84 million makes it a reliable currency across the world.
How to Buy Fast Litecoin with Credit/Debit Card
Buying Litecoins is also a technical choice, and various methods of purchasing these coins are being used all across the world. One of the most useful ways of buying Litecoins is buying these through Credit/Debit cards. This is because you do not have to go anywhere and buy coins sitting in your home. The following are the main methods that would inform you enough about purchasing these coins.
1. Registring with Changelly
Changelly is one of the most reputable resources for buying Litecoins. This is because it accepts multiple currencies as payment to buy the coins of your choice. If you need to buy Litecoins, you will have to register yourself with this website. There is no registration fee charged. That means you can register yourself by putting your verified email address in the specific column in the Signup form. The website sends an email to your confirmed email address. The email contains all the login details, including username and password. Soon, using those details, the users can log in to their accounts. Following logging in, a screen arrives before you.
2. Selection of Currency
There are two long bars on the screen before you. Prime is the currency in which you need to make your payment. You can choose multiple currencies on clicking the arrow key on the right side of the bar. The next bar gives you the coin you want to buy. Choose Litecoin here and press the green buy button on the right side of the bars. That will take you to the payment processing page. When you are not logged in Changelly website, clicking the payment button will require you to log in first.
3. Confirmation of Order
Once you have chosen the currency, pressing the value tab will take you to the order confirmation page. Changelly allows all the details once again on the screen for confirmation. It would help if you verified that you would buy Litecoins and pay in the currency you need. After assuring that all the details are correct, press the confirmation tab. This will take you to a different page.
4. Wallet Address
You should know that cryptocurrencies are forever stored in wallets, both hardware or software. Here, already again, you will have to make a choice. Always go for the wallet that allows multi-currency support and enhanced security. Ledger Nano S wallet is thought the best cryptocurrency wallet. This is because it supports multiple currencies and is a lot safe and secure. You will have to enter this address of your Ledger Nano wallet to complete the buying method.
5. Checking and Confirmation of the Information
Buying the cryptocurrency method needs confirmation of information at many steps. After entering this wallet address, you will have to confirm the wallet address and the other important details. If you are sure of the details, press this confirmation button, and you are guided to this credit/debit card details page.
6. Card Details
If you are buying Litecoins through credit and debit cards, you will have to enter all your card details on this page. Usually, these details are the card number, expiry date, and security code for preparing the payment. The page will inform you if there may be an error in the information of the card. Before processing the cost, the website will also show you the price of USD decreased from your card.
7. SMS Verification
For confirmation that you are authenticating your card, an SMS will be sent to your registered cell number. The SMS will contain a code that you will want to enter on the page. Entering the code will complete the payment method, and you will receive the Litecoins in your wallet after some time.
8. Receiving Litecoins
After the deduction of enough money, Litecoins begin to reach your wallet. This method of transferring Litecoins will end in 5-30 minutes. The speed of moving also depends on the kind of wallet you are using. Ledger Nano S is, once again, a perfect option because it offers a fast speed.