What is the best crypto exchange to buy Litecoin?
The best cryptocurrency investing platform to buy Litecoin (LTC) on in Australia is the CoinSpot exchange. CoinSpot has been operating since 2014 and has never been subject to any cyber attacks or hacking incidents and is widely regarded as the most secure crypto investing platform in Australia. To learn more about CoinSpot, you can visit our CoinSpot Review.
It has obtained the ISO27001 Standard Security Certificate, proving it is battle-tested and a secure platform. Additionally, CoinSpot is licensed under 'Casey Block Services Pty Ltd' (ABN 19 619 574 186) and regulated by AUSTRAC. It is a registered member of Blockchain Australia, Australian Digital Commerce Association, and AUSTRAC.
How to buy Litecoin (LTC) with low fees
In this guide, we outline for Australian investors the easiest way to buy Litecoin (LTC) with 0.1% fees. You can buy Litecoin with multiple deposit methods including credit/debit card, POLi, PayID, BPAY, Osko, bank transfer & cash deposit. Follow the below steps to get started.
- Sign up to the CoinSpot platform and complete your verification.
- Select 'Deposit Funds' and choose a method to fund your account with AUD.
- Once you have finished your deposit, go to the 'Markets' tab and select 'LTC/AUD'.
- Enter the amount of AUD you wish to invest and select 'Buy LTC'.
What are the fees involved when buying cryptocurrencies?
On CoinSpot, buying cryptocurrencies can be pretty much free, depending on what deposit and trading method you use to purchase tokens. CoinSpot has some of the most competitive fees with multiple free AUD deposit method. Refer to the information below for a quick overview of the fees.
- Deposit Fees: POLi, PayID, Osko & Bank Transfer are completely free but there is a 0.9% fee for BPAY, 2.5% fee for cash and 2.58% fee for card.
- Trading Fees: 0.1% when you use the 'Market Buy' feature and 1% when you use the 'Instant Buy' feature.
About Litecoin (LTC)
Litecoin is a cryptocurrency based on the Bitcoin protocol, but with several key differences. These include faster transaction times, increased security, and improved scalability. One of Litecoin's key advantages is its faster transaction times. While Bitcoin transactions can take up to an hour to confirm, Litecoin transactions are confirmed within a few minutes. This makes Litecoin ideal for small or time-sensitive payments.
Another advantage of Litecoin is its increased security. Litecoin uses a different hashing algorithm than Bitcoin, which makes it more resistant to ASIC mining hardware. This means that it is less susceptible to centralisation by large mining pools.
Finally, Litecoin has better scalability than Bitcoin. Litecoin can handle more transactions per second than Bitcoin, and has shorter block times. This makes it ideal for busy payment networks.
The Bottom Line
Litecoin (LTC) is a popular cryptocurrency that was created as an upgrade to Bitcoin. It offers faster transaction times, increased security and improved scalability compared to Bitcoin. CoinSpot is the best crypto exchange in Australia for buying Litecoin with multiple deposit methods including credit/debit card, POLi, PayID, BPAY,Osko, bank transfer & cash deposit. It also has some of the most competitive fees with multiple free AUD deposit methods and 0.1% trading fees.
Investing in cryptocurrencies is risky and should only be done so with caution, understanding and after doing your own research. We recommend that you always use a reliable platform that is licensed by AUSTRAC & ASIC.