What are the Options Available to Buy Litecoin in India?
WHAT IS LITECOIN?
Cryptocurrency is a digital medium of exchange which uses cryptographical functions to conduct financial transactions. They leverage blockchain technology and are decentralized, which means it is not controlled by any central authority. Transparency is also maintained while the transaction processes between two parties.
The crypto industry is expanding in every sphere of the world. It can be traded anytime, anywhere on digital platforms. Today, these coins have become a global phenomenon known to most people. There are multiple cryptocurrencies in the world. Because bitcoin was the first, it got all the publicity, but it competes against dozens of altcoins like Litecoins these days.
WHAT IS LITECOIN?
Litecoin is one of the first Bitcoin forks which were launched in late 2011 by former Google and Coinbase engineer Charlie Lee. To create this crypto, Lee copied the Bitcoin codebase, increased the total supply, and increased the speed at which new blocks are added to the blockchain. It was mainly constructed as a lighter alternative of BTC, but a faster and scalable one.
Litecoin, which aims to be the “Silver to Bitcoin’s Gold”, is the seventh-largest crypto. Just like its contemporaries, LTC functions in one sense as an online payment system. Users can use it to transfer currency to one another just like a bank's online network, but instead of using INR or US Dollar, transactions are done using units of LTC. In the current market, LTC prices are very low than that of BTC.
Litecoin, which holds the 7th rank in the cryptocurrency market, is a peer-to-peer cryptocurrency and is entirely decentralized. It is increasingly accepted in the market. This is why the demand for this coin has been on the rise. Ever since the COVID pandemic came, there has been increased investment in the crypto market and so as the number of exchanges especially in India.
In India, there are many cryptocurrency exchanges. However, when talking about the best, PCEX Member, WazirX, CoinDCX are the few. These exchanges take the center stage in the Indian crypto market. However, when it comes to the security of your investment, you have to look for a reliable and renowned exchange to buy litecoin in USD with confidence.
INR Market is available on almost all the cryptocurrency exchanges in India. Through this market, traders can purchase and sell LTC in INR. Most of the Indian traders choose the INR market to trade as it is easy for them and they can cash out their cryptocurrency in INR.
USDT(Tether) is a stable coin that aims to keep cryptocurrency valuations stable that is pegged to different fiat currencies. USDT is pegged to the US Dollar and other fiat currencies like Euros and Japanese Yen. It is issued by the company known as Tether. This allows it to be used as a medium of exchange and a mode of storage of value, without the need for traditional fiat currency regulation. On PCEX Member exchange platform, traders can purchase and sell LTC with USDT. However, to do so, they must have Tether in their account.
C2USD is another stable coin on PCEX Member that users can choose to buy LTC. Through C2USD, traders on PCEX Member can purchase Litecoin.
Litecoin to USD is the best coin pair for national as well as international users. One can easily buy LTC in the USD market on PCEX Member. LTC/USD is widely traded throughout the world as USD is considered a global currency. However, the options to buy & sell LTC with USD are available on only a few crypto trading platforms in India. So, it would be suggested to make sure that the platform you are going to choose to buy LTC with USD offers this option or not.
HOW TRADE LITECOIN ON PCEX MEMBER USING USD?
You can buy Litecoin at any exchange platform that support the cryptocurrency. In India, many exchanges support LTC trade as an option. It is advised to research thoroughly about the policies and LTC prices across different crypto trading platforms. Look for platforms which :
Provides security to the account and the custody of digital wallets is given to clients.
Major and convenient modes of payment to purchase crypto in India.
Receiving and transferring of cryptos instantly
Have the lowest maker and taker charges
Responsive & effective customer support and dedicated Indian community on Telegram/Twitter/Facebook for Indian users
The spot to futures market options, with great liquidity to trade your purchased crypto. One can easily create an account on any trading platform in India. Let’s take an example of PCEX Member, which is one of the most prominent crypto trading platforms in India. With zero makers and taker fee, this exchange platform provides full custody of digital wallets to their clients. To trade LTC in USD follow the mentioned steps
Head over to exchange and create an account
Complete KYC and ID Verification and add your bank details from which you want to deposit funds.
Deposit money in the account using UPID/ Debit Card/ Wallets and Net Banking.
Go to the main page and select the cryptocurrency USD
Select your coin pair, fill in the required details, and click on the buy button.
And the purchase has been done!
These are some of the options available to buy LTC in India. If you are considering buying it for the first time, it would be great to look for a reliable and easy to use coin trading platform to buy this valuable asset with confidence. If you are looking for the one,