Buying LTC in India – Is it Buying Bitcoin? Admittedly, the name Litecoin is reminiscent of the most famous cryptocurrency Bitcoin. Strictly speaking, Litecoin is also an offshoot of Bitcoin. In October 2011, the currency unit was first released on GitHub by Charlie Lee. As a result, it is now possible to buy Litecoin in India. What can be seen here and where the currency unit can be acquired exactly shows the guide.
Why is one Litecoin half a Bitcoin? – Explanation
Buying Litecoin Is Becoming More Popular In India, But What’s Really Behind The Cryptocurrency? What are Litecoins? The name is reminiscent of bitcoin, which is not surprising: Litecoin is, after all, a large part of bitcoin’s source code. Sure, the Litecoin source code was modified, but the foundation provided Bitcoin. What are the differences in the coding of Litecoin? The block time was reduced from 10 minutes to 2.5 minutes. Furthermore, the mining algorithm has been changed from SHA-256 to Scrypt.
Meanwhile, Litecoin also registered a strong share price growth. Although it is yet to be seen in comparison to bitcoin. By 2017 in Litecoin the prices increased up to 15 times. Therefore, buying LTC in India may cost investors. The currency unit will be worth a lot more to Litecoin than to Bitcoin. The maximum limit is 84 million pieces, which is four times the amount of bitcoins (the upper limit is 21 million).
Most Important Litecoin Properties:
- decentralized structure
- easy handling
- pseudo anonymous
- especially fast (peer to peer)
Buy LTC in India, but where?
It is possible to buy Litecoin in India in different ways. Completely unmodified Lytik can also be bought in Austria. Those who prefer short term investments can hedge a position with a CFD broker. If, on the other hand, investors own cryptocurrency and want to save it in their wallet, it is advisable to buy directly on a stock exchange or marketplace. Both options have their advantages and disadvantages. These are reflected not only in fees, but also in profit opportunities and possession of currency units. A CFD broker is not really about owning or saving Litecoin, but rather participating in its price development. How can I buy Litecoin in India? We show this with two practical examples.
Marketplace and Stock Exchange
There are now countless marketplaces and exchanges on which buying and selling of cryptocurrency is possible. best known octopus and anycoin
How does one buy Litecoin in India in such a stock exchange?
- Registration on the respective platform.
- Registration. Ordering and setting the desired investment amount.
- Automatic search through the stock market for the right trader.
- On successful search automated transaction processing.
Because of the automobile the transactions can be handled very easily in the stock market. There is nothing to stop the trader from placing the desired order along with the investment amount. Everything else happens automatically. Of course, the stock market may pay for this direct transaction. The amount depends on the volume of the transaction. As compared to the marketplace, the cost on the stock exchange, as per experience, is slightly higher. Why is that? In the market, investors also place their orders, but then look for matching counterparties alone. The process is comparable to the Internet platform eBay. Due to the initiative of the merchants, the cost of the marketplace is slightly less.
What happens to currency units?
Anyone who decides to buy LTC on a stock exchange or marketplace in India receives the cryptocurrency directly. This means that it can be sold or salvaged immediately. Many investors prefer offline storage in the first wallet. Litecoin is (still) not permitted as a means of payment at merchants, so the currency unit is only suitable for investment or history. You cannot pay with this cryptocurrency.
Buy Litecoin from CFD broker in India
Those who do not really own cryptocurrency can resort to stock trading. More and more CFD brokers are offering Litecoin as an underlying asset. Here, investors have the opportunity to participate in currency development. They can bet on falling or rising prices. How does this type of LTC buying in India look like with a CFD broker? A practical example provides more information on this. Investors must sign up and register with a CFD broker before buying. There must be capital to execute the business. Its deposits can be made through various reputed payment providers.
These include, but are not limited to, Credit Cards (VISA, MasterCard), Skrill, NETELLER, Paysafe, Paysafecard, PayPal and Bank Transfers (Bank Transfer and Instant Bank Transfer). How do you proceed to buy Litecoin in India? The investor now chooses LTC as the underlying, sets the order type and investment amount, sets the lever and finally places the order. How does this affect the use of capital in combination with leverage? Let’s say the total equity is 100 Euro. The selected leverage is 1:10. The order type is Call – ie rising prices. The lever moves total capital of €1,000 on the market. If the price of Litecoin increases by 5 percent in the declared period, the profit is 50 euros. Without the lever, that would be only 5 Euros. The example clearly shows that the lever has produced a profit of 50 per cent.
However, it also works in a downside: if the price moves against the call position, investors can lose up to 50%. Tip: Since these are high-risk financial derivatives, a little bit of practice and intuition is required. it occurs. If you have no experience in CFD trading, you should start with a demo account. Most brokers offer this type of account for free. It can also be crypto currency.
Litecoin – what is cryptocurrency?
Cryptocurrencies are known to fluctuate in their value. It is no different with Litecoin. Before 2017, there were obviously more turbulent times and frequent ups and downs. Since the beginning of 2017, however, the course has been rising steadily. Although there are still minor fluctuations, these are normal for a volatile digital currency. In August 2017, Litecoin also achieved a currency gain of around US$40 and ended with a value of US$65. Litecoin still moves around this value today (as of November 2017). Due to this increase in value, LTC purchase in India provides for investors.
Buy LTC in India – How do I identify good providers?
Anyone who has decided to buy Litecoin in India should first look for a suitable supplier. How can I recognize a reputable platform and what should I be paying attention to? In the guide too, we get to the bottom of the matter. The first assumption is not only important for people – it applies equally to trading platforms. If you are interested in a CFD broker, marketplace or stock exchange, you should first visit the website and ask yourself a few questions: How is the site designed? Is everything smooth? Can I get base currency Litecoin instantly?
Answering these questions can provide some preliminary information about the quality of the platform. Of course, there are other criteria that indicate a reputable provider, including imprint, regulatory authority and security. A look at the imprint shows what Backstage really vouches for.
One of these rules provides that the provider gives a deposit guarantee. Most brokers, marketplaces and exchanges are members of the State Deposit Guarantee Fund. As a result, client funds are protected up to an amount of 20,000 Euros. Furthermore, provider funds and client funds are kept separate from each other in accounts. Another sign of a reputable provider is security. Most data transfers take place through an encrypted SSL connection. It is recognizable to investors by the lock in front of the web address. Most CFD brokers or exchanges are located within European country borders. For investors this means they can rely on European regulations. Their compliance is controlled by the regulatory authorities of each country. These include BaFin (India), FCA (United Kingdom) and CySEC (Cyprus).
Direct buying or a CFD broker – what suits investors?
This question cannot be answered in one sentence. Buying Litecoin in India can be profitable with a crypto or CFD broker as well as direct purchase. What matters is what the investor wants. For all those who really own and want to save currency units, the CFD broker is not suitable. Rather, these platforms are about letting investors participate in currency development. An actual purchase of cryptocurrency does not exist here. In turn, relatively small amounts of capital can be used to leverage leverage to increase the capital stock in the market. The profit opportunities are high, but also the risk of loss.
Advantages of CFDs:
- Cryptocurrency is bought in “real”.
- Litecoin can be saved offline.
- low risk.
Conclusion: The choice of platform depends significantly on the views of investors in India to buy LTC. If you are only interested in participating in a price development, you should look into a CFD broker. If you own cryptocurrency, direct trading is a good option.
Conclusion: Buy Litecoin in India – Every investor will find a suitable platform
Anyone deciding to buy LTC in India is looking for the right number of suppliers and follows the instructions on Litecoin. CFD brokers are suitable for short term investments with leverage. However, Litecoin is not actually sold here, but only set on display for its price. If you have cryptocurrency in your account and want to sell it later, you should opt for direct purchase. This is possible on numerous stock exchanges and marketplaces. Investors will find their suitable provider if they pay attention to certain criteria. These include: general impression of Internet presence, security, location of the provider and its regulation.