Litecoin (LTC) is the fifth-largest cryptocurrency network, with a market capitalization of over $5bn. It was forked from Bitcoin (BTC) in late 2011 and is designed to be quicker and cheaper to transfer.
In 2020, it’s possible to get Litecoin (LTC) in lots of places at competitive rates directly with GBP.
But it’s still easy to get ripped off.
In this post, I’ll show you the cheapest way to buy Litecoin (LTC) in the UK with GBP with a UK bank transfer, a debit card, or a credit card.
Overview: Cheapest Way to Buy Litecoin
Don’t care about the details?
Here’s an overview of the cheapest places to buy Litecoin (LTC) in the UK with the 3 most popular methods.
|Best Provider||Payment Method||Fees||Website|
|Binance||Bitcoin (BTC) & Altcoins||0.1%||Official Website|
|Coinbase Pro||UK Bank Transfer||Up to 0.5%||Official Website|
|Wirex||Debit & Credit Card||1%||Official Website|
Where else can I buy Litecoin (LTC) in the UK?
Buying Litecoin (LTC) with Bitcoin (BTC) in the UK
How to Buy Litecoin in the UK
#1. Buy Litecoin with a Bank Transfer: Coinbase Pro
Coinbase Pro (previously GDAX) is the cheapest way to buy Litecoin (LTC) in the UK with a UK bank transfer (GBP).
Coinbase Pro was the 1st major cryptocurrency exchange to accept GBP deposits through the UK Faster Payments Service (FPS). This means deposits to Coinbase Pro will usually be credited in less than an hour!
On Coinbase Pro, you can buy Litecoin (LTC) at the REAL market rate while incurring barely any fees. You’ll pay just fees of just 0.5%, regardless of whether you’re a market maker or a market taker.
You can withdraw your Litecoin (LTC) from Coinbase Pro for free too.
What’s the difference between a market maker and taker?
What’s the difference between Coinbase and Coinbase Pro?
What other places can I buy Litecoin (LTC) with a UK bank transfer?
#2. Buy Litecoin with a Debit or Credit Card: Wirex
Wirex is pretty awesome.
They provide crypto-friendly currency accounts which allow you to buy Litecoin (LTC) with a debit card (or credit card) in the UK. They support other cryptocurrencies, like Bitcoin (BTC) and Ethereum (ETH) too.
Wirex’s fees are market-leading. They typically charge about 1% in fees when buying any cryptocurrency with a debit or credit card. They support UK bank transfers too, although it’s easier (and costs the same) to just use a debit card.
Here’s how that compares to their closest competition.
Yep. Wirex offer rates which are at least 3% lower than their closest competition (Coinbase). This makes Wirex the cheapest place to buy Litecoin (LTC) in the UK with a debit or credit card.
Be aware: If you use a credit card to buy Litecoin (LTC), your card issuer will charge you extra fees.
Wirex also issues GBP, EUR, and USD debit cards. In my recent roundup, I ranked them as the #1 best crypto debit card available in the UK and EU.
Signing up and getting verified takes less than 10 minutes.
#3. Peer-To-Peer Route: Litecoinlocal
Litecoinlocal.net is a peer-to-peer (P2P) marketplace where you can buy and sell Litecoin (LTC) with other people. It’s available across over 100 countries and supports lots of traditional (i.e. fiat) currencies.
Although it supports many popular payment methods (e.g. PayPal, Cash, Western Union), there were only 8 sellers in the UK when I checked.
The lowest rate I found was more than 14% above the real LTC/GBP exchange rate too.
Unless you’re dead-set on buying Litecoin (LTC) with PayPal, cash, or a less common payment method, then I’d just use one of the options described above. You’re throwing away money if you pay these kind of rates.
Best Litecoin Wallets: Safely Storing LTC
Litecoin Hardware Wallets
Just like any other altcoin, you’ll need a cryptocurrency wallet to store your Litecoin (LTC).
Hardware wallets are popular and well-recommended across the crypto-community. I’ve reviewed nearly every cryptocurrency wallet that’s available and ranked your best hardware wallet options.
One of my favourites and highest-ranked hardware wallets is the Ledger Nano S.
It continues to support more and more cryptocurrencies and can be bought from the manufacturer’s official website for less than £60 (incl. delivery).
There’s a reason it’s sold over 1.4 million units worldwide. Find out more in my full Ledger Nano S review.
Litecoin Software Wallets
Not an exhaustive list, but these options seem quite well-recommended across the Litecoin community:
- LiteWallet: Official Litecoin mobile wallet (originally built by Charlie Lee). Previously called LoafWallet.
- Atomic Wallet: My favourite multi-currency wallet which supports over 300 coins and tokens.
- Exodus Wallet: User-friendly cryptocurrency wallet which supports over 95 cryptocurrencies.
Share On social Media 👇