The Litecoin is one of the top cryptocurrencies of the current time. It was first introduced in 2011 as an alternative to Bitcoin. It is one of the fastest growing altcoins. As like as the other digital coins, blockchain technology is the pillar of Litecoin. The blockchain technology is used more efficiently on the Litecoin. You can get both security and speed at the same time in Litecoin. The users can quickly make payments all over the world with it.
The Litecoin is now treated as the second largest cryptocurrency of the current world. The coin is acceptable all over the globe. A lot of famous company Benz and Beamer, KnCMiner, eGifter, etc. accept Litecoin as a payment method.
The Litecoin is becoming famous all over the world because of its flexibility and efficiency. Currently, the market value of Litecoin is $19,187,391,494 with circulating supply of 54.5 million coins. As like as other countries, you can also buy and trade Litecoin from India. Today I will guide you about How to buy Litecoin in India.
What is Litecoin?
The Litecoin is a blockchain based peer to peer cryptocurrency. It is a decentralized, open source global payment network that enables almost free payment service all over the world. There are no central authorities in Litecoin, but it is entirely secured. There is an algorithm which helps to run the network securely where individuals can control their investments.
A prior google engineer, Charlie Lee releases the Litecoin’s open source client on GitHub on October 7 of 2011. However, it comes to service on the 13th October of 2011. Litecoin got a considerable growth in the November of 2013, and it markets capital reached 1 billion in the same time.
The Bitcoin inspires the Litecoin. But there is some critical differences between these two coins. The Litecoin can process a block within 2.5 minutes when it requires at least 10 minutes for the Bitcoin. As a result, the Litecoin has a faster transactional process then the Bitcoin. Besides, the Litecoin use the scrypt algorithms which allow the user to mine coins with an average device. Bitcoin uses the SHA-256 algorithms which require a high configuration device to mine coins. You can say that Litecoin is the improved version of the Bitcoin.
How to Buy Litecoin in India
Litecoin is specialized for fast and secure payment. But it is a matter of sorrow that trading of the Litecoin is not that much easy when compared to the other crypto coins especially in India. But don’t worry, I will introduce you several ways to buy Litecoin in India.
Method 1: Exchange from Coin Conversation Sites
There are a lot of websites from where you can buy Litecoins with the help of your BTC. It is the most secure method of trading Litecoin. However, there are some scam sites too. So, you must select a trusted place for trading. We have discussed two of the most popular sites where you can buy Litecoin in exchange of Bitcoin from India:
Koinex: Koinex is the most famous app for buying crypto coins like Bitcoin,Ethereum, Litecoin, much more. It comes with an easy user-interface which allows you to easily convert your cash into Litecoin. The Koinex provide 100% security for your coins. There is no app for this and works only on desktop.
Bitcoin India - This is one of the promising apps for indian users. It has an app for android and ios users. There are multiple coins along with Litecoin here. The only drawback of this app is that it stucks sometimes when there are high number of users using the app. The company is working on this tech issue and would get resolved in near future.
Method 2: Buy Currency with Fiat Currencies
You cannot purchase Litecoin from companies like Coinbase in India. However, you can directly purchase Litecoins from some enterprises. They are trusted and safe. You can buy directly over MasterCard, Visa Card, or Debit Card. You will need to pay a little fee for this. Here are some of the best corporates to buy Litecoin:
- CoinMama
- IndaCoin
- BitPanda
Method 3: Exchange with Bitcoin
You can easily Exchange Bitcoin to buy Litecoin. This method is straightforward and safe too. There are a lot of trusted international exchanges which can help you to do this. The HitBTC, OKcoin, Poloniex, Bitfinex, etc. are some of the best international exchanges.
The Cryptocurrencies are going to be the only currency of the world soon. So, investing on these is a wise decision. We hope this article will help you to understand how to buy Litecoin in India easily.