Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy Litecoin. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!
Australia has a decent amount of popular and regulated crypto trading platforms, so it’s quite easy finding an exchange that has Litecoin. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.
Let’s get into it!
How to Buy Litecoin in Australia
There are only 4 main steps involved and it’s pretty straightforward:
1. Choose a crypto exchange
As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has Litecoin in its list of cryptocurrencies.
Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.
And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.
So for this guide on buying Litecoin, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer Litecoin.
If you’d like to know more about which exchanges we recommend, look at our list of the most popular crypto exchanges.
2. Sign up with the crypto exchange
Once you’ve decided on which exchange to use, it’s time to sign up.
Swyftx has a very streamlined sign-up process in place. The first step is to fill in the sign-up form.
Next up is to go through their basic verification process, called a KYC, which is required by law here in Australia. This should be very quick and easy.
Once done, it’s time for the next step.
3. Funding your account with AUD
To buy Litecoin, you first need to transfer AUD to your Swyftx account using one of the many deposit methods available. From bank transfer to PayID, POLi pay and credit cards, plenty of options to choose from.
4. Buy Litecoin
The final step is to go to their asset list, find Litecoin, navigate to the buy section, and then trade your AUD for some LTC. Once you’ve bought Litecoin, you can track how much you’ve gained or lost either in the app (they have a great app), or on desktop on the left-hand side under your cryptocurrency list.
Where to Buy Litecoin (LTC)
|5/5||300+ cryptocurrencies||Visit Swyftx|
|4/5||200+ cryptocurrencies||Visit Coinspot|
|3/5||400+ cryptocurrencies||Visit Binance|
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How to Sell Litecoin
If you’re thinking about selling Litecoin, just follow the steps below.
- Sign in to the crypto trading platform (like Swyftx).
- Click on Litecoin in your list of cryptocurrencies, or find your trading account if you’re using an exchange with different accounts.
- FInd the sell section and sell Litecoin for AUD, or trade it for another cryptocurrency.
Frequently Asked Questions
Is buying Litecoin in Australia legal?
Yes, you can legally buy and trade cryptocurrencies in Australia. We do of course recommend only using crypto exchanges regulated by AUSTRAC.
How to buy Litecoin with PayPal?
Unfortunately, most crypto exchanges in Australia don’t support PayPal. The only exchange that you could use is eToro, but their cryptocurrency list is quite limited so you might not find Litecoin. Have a look on their site first, you might be lucky.
How to buy Litecoin with a credit card or debit card?
Most top exchanges support buying crypto with a credit or debit card. We would recommend Swyftx to buy Litecoin with your credit/debit card.
Litecoin (LTC) is a cryptocurrency that was created to enable fast, secure and low-cost payments by leveraging the unique properties of blockchain technology.
To learn more about Litecoin, take a look at our in-depth dive into the project.
The Bitcoin (BTC protocol) was used to create cryptocurrency. However, each hashing algorithm, hard limit, block transaction times and other factors are unique to it. Block time for Litecoin is 2.5 minutes. It has extremely low transaction fees, making it perfect for micro-transactions and point-of-sale payments.
Litecoin was released for the first time on October 7, 2011, via an open-source client hosted at GitHub. Five days later, the Litecoin Network was launched on October 13th 2011. Since then, it has experienced rapid growth in use and acceptance by merchants. It is now one of the top ten most valuable cryptocurrency according to market capitalization.
Litecoin was created by Charlie Lee, a former Google employee. It was created to be a lighter version of Bitcoin and has many of the same properties as Bitcoin.
Litecoin is the second-most popular pure cryptocurrency after Bitcoin. Its simplicity and obvious utility advantages are key to its success.
Since January 2021, more than 2,000 merchants and stores around the globe have accepted Litecoin.
Its main benefit is its speed and cost effectiveness. Litecoin transactions are quick and can be verified in minutes. Transaction fees are virtually negligible. This is an attractive alternative to Bitcoin in developing countries, where transaction fees can be a major deciding factor in choosing which cryptocurrency support.
Litecoin also released the MimbleWimble testnet, (MW), in late 2020. This testnet is used for verifying confidential transactions based on Mimblewimble. Litecoin users can benefit greatly once the feature is available on the mainnet.