How to Buy Litecoin

Netcoins is the easiest, most trusted way to buy Litecoin in Canada.

How to Buy Litecoin in Canada

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How to Buy Litecoin in Canada

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Litecoin was designed to process transactions faster than bitcoin.

 

Charlie Lee, an ex-Google employee, was a big fan of bitcoin. However, he thought he could make it better. He created Litecoin (LTC) as an alternative cryptocurrency (or ‘altcoin’) based on the original structure of the bitcoin blockchain.

Litecoin was designed to be quicker at processing transactions than bitcoin. It was created for everyday use, including small transactions like buying coffee. Today LTC remains in the top 10 cryptocurrencies by market capitalization, which ranges in the multiples of billions of dollars at any given time.

Buy Litecoin in 3 steps

Create an Account

Provide some personal details and get verified in minutes through our automated KYC process.

Fund (No Fees)

Fund your account with a cryptocurrency deposit, Interac e-Transfer, online bill payment or bank wire transfer.

Start Trading

Buy and sell as little as $10, or up to $10 million with no slippage due to our deep liquidity.

Why Netcoins?

Rapid Transaction Times

0% Funding Fees
Free Cash Withdrawals

Fund and withdraw quickly. Buy and sell instantly. Get your money or crypto in and out easily.

Fast Verification

Get verified at lightning speed with our automated KYC process. Get help from our support agents if needed.

Top Rated Support

Our support team is available over email, phone, and live chat to answer all your questions clearly and quickly.

Government Regulated

Netcoins is a registered MSB with FINTRAC. We're also fully regulated and registered with the Canadian Securities Administrators (CSA) and BCSC.

SAFETY FOCUSED

Netcoins leverages blockchain analytic and forensic tools BitRank & QLUE as an additional safeguard.

Publicly Traded Company

CSE: BIGG
OTCQX: BBKCF
WKN: A2PS9W

Netcoins is owned by the publicly traded BIGG Digital Assets. Being public offers an extra layer of safety and transparency to our users.

How much Litecoin can I buy?

You don’t need to buy 1 entire Litecoin to get started!

You can buy fractions of a Litecoin. In fact, the smallest possible unit of Litecoin is called a litoshi and is equivalent to 0.00000001 LTC (8 decimal places). Many beginners start their Litecoin journey by accumulating small amounts of litoshis.

You can start as small as $10, or invest up to $10 million with Netcoins.

Why buy Litecoin?

Litecoin stands as one of the earliest iterations of an alternative coin (altcoin) with a coding structure very similar to that of bitcoin.

Its creator, Charlie Lee, is the reason the project exists. The goal of Litecoin was to ultimately make transactions cheaper and faster than bitcoin. At the time it was invented, Litecoin transactions could be confirmed up to four times faster than bitcoin transactions.

Crypto purists still invest in Litecoin because of its brand name and its relatively early roots in the evolution of the altcoin market. 

Some Litecoin Wallets:

Ledger Nano S
Ledger Nano X
TREZOR T
Ledger Live
Electrum LTC

 

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Coding Structure

Litecoin’s blockchain still processes transactions considerably faster than most other projects. It’s also easier and less expensive to mine compared to bitcoin.
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Branding

The Litecoin Foundation currently has marketing deals in place with big brands like the National Football League’s Miami Dolphins and the Ultimate Fighting Championship company.
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Liquidity

Litecoin’s market value ranges in the billions of dollars. At any given time, millions of dollars in trading volume flows throughout the Litecoin blockchain, way more than other altcoins. 
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Cheaper Price

Many crypto enthusiasts new to altcoins prefer to own many coins at a lower price over owning a single bitcoin worth five figures. So litecoin is a great way for them to own more crypto.

Frequently Asked Questions

Why buy Litecoin?
Litecoin offers many key benefits that have allowed the project to remain among the top cryptocurrencies in spite of the fact that thousands of projects have been introduced in the last 3 to 5 years.

People invest in Litecoin for three main reasons:

  1. Litecoin’s blockchain processes transactions faster than other projects
  2. Has high liquidity, with millions of dollars in trading volume flowing in its blockchain
  3. Its foundation is partnering with big names to push its adoption

Litecoin is so closely related to bitcoin that the project holds just enough cache to stay familiar and relevant to investors, regardless of what other altcoins are doing.

Are there any risks involved if i buy litecoin?
All forms of investments carry with them an inherent level of risk so you should never invest more than you’re willing or ready to lose.

Cryptocurrencies like Litecoin are known to be volatile and the price fluctuates quite a bit on a day to day basis. What’s important to understand as well is to zoom out and look at the bigger picture.

If you do buy Litecoin, also remember to properly secure your account with Two Factor Authentication and follow security best practices!

How much litecoin should i buy?
A common misconception is that you have to buy 1 entire Litecoin, but you can actually buy fractions of a Litecoin, called Litoshis. You can start off with as little as $10, or invest a certain % of your wealth.

Many beginners start off by dollar cost averaging in, which is the practice of putting in a set amount of money towards Litecoin in regular intervals (for example $100 every month).

Why is KYC (Verification) required?
As a Money Service Business (MSB) registered with FINTRAC, we are required to have a Know-Your-Customer (KYC) process and compliance program in place.

KYC is a process that allows us to verify the identity of our customers, as per Canadian regulations.

What do I need to provide for your verification process?

You will have to provide your email address, phone number and personal information including your first name, last name, address, date of birth and a piece of identification (like a driver’s license). Most users are verified at this point through our automated process.

If you don’t pass the automated KYC process, you will have to go through an additional document verification stage. This is important and required as we are a regulated money service business in Canada.

How can I fund my account?
Your Netcoins account can be funded with a cryptocurrency deposit, Interac e-Transfer, online bill payment, or a bank wire transfer. There are no funding fees imposed by us.

Once you have funds in your Netcoins account, you’ll find that it’s super easy to buy Litecoin in Canada.

Can I send my crypto to an external wallet?
Yes, you can either keep a crypto balance within your Netcoins account or withdraw it into your own external wallet. While FIAT withdrawals are free, there is a small withdrawal fee associated with crypto withdrawals.