Litecoin (LTC) is the fifth-largest cryptocurrency network, with a market capitalization of over $5bn. It was forked from Bitcoin (BTC) in late 2011 and is designed to be quicker and cheaper to transfer.
In 2021, it’s possible to get Litecoin (LTC) in lots of places at competitive rates directly with GBP.
But it’s still easy to get ripped off.
In this post, I’ll show you the cheapest way to buy Litecoin (LTC) in the UK with a UK bank transfer, a debit card, a credit card, or any other payment method.
Overview: Cheapest Way to Buy Litecoin
Don’t care about the details?
Here’s an overview of the cheapest places to buy Litecoin (LTC) in the UK with the 3 most popular methods.
|Best Provider||Payment Method||Fees|
|Binance||Bitcoin (BTC) & Altcoins||Up to 0.1%|
|Coinbase Pro||UK Bank Transfer (Faster Payments)||Up to 0.5%|
|CoinJar||UK Bank Transfer (Faster Payments)||Up to 1.5%|
|Crypto.com||Debit & Credit Card||2.99%|
Don’t like the options above?
Here are some other places you can buy Litecoin (LTC) with GBP in the UK.
They’re not the cheapest options, but many people prefer the buying experience (and customer service) offered by these options.
|Coinbase||UK Bank Transfer||1.5%||Coinbase Review|
|Wirex||UK Bank Transfer|
|BC Bitcoin||UK Bank Transfer||3%||BC Bitcoin Review|
|Solidi||UK Bank Transfer||3%||Solidi Review|
|Bittylicious||UK Bank Transfer||4%||Bittylicious Review|
|Coinbase||Debit & Credit Card||4%||Coinbase Review|
|CoinCorner||Debit & Credit Card||5%||CoinCorner Review|
This post is about how to buy Litecoin (LTC) directly with GBP in the UK.
If you want to buy Litecoin (LTC) with Bitcoin (BTC), then you’ll want to check out this guide to learn the best places to buy Bitcoin (BTC) in the UK.
Once you have Bitcoin (BTC), you can exchange it for Litecoin (LTC) in loads of places.
Here are just a few options:
Best Ways to Buy Litecoin in the UK
1. Buy Litecoin with a Bank Transfer: Coinbase Pro
Coinbase Pro (previously GDAX) is one of the cheapest and quickest ways to buy Litecoin (LTC) in the UK.
Coinbase Pro was the 1st major cryptocurrency exchange to accept GBP deposits through the UK Faster Payments Service (FPS). This means deposits to Coinbase Pro will usually be credited in less than an hour! After your first deposit, I found that Coinbasde Pro processed my GBP deposits within minutes.
On Coinbase Pro, you can buy Litecoin (LTC) at the REAL market rate while incurring barely any fees. You’ll pay just fees of up to 0.5%, regardless of whether you’re a market maker or a market taker.
You can withdraw your Litecoin (LTC) from Coinbase Pro for free too.
A market maker is someone who provides liquidity to markets.
This is done when you submit a limit order (buy or sell) on Coinbase Pro (or other cryptocurrency exchanges) that doesn’t immediately fill. These orders sit on the order book and prevent wild fluctuations in cryptocurrency prices. For this reason, market makers are incentivized by reduced fees on exchanges.
When you submit a market order (buy or sell) on a cryptocurrency exchange that immediately fills, you are a market taker. For this added convenience, you’ll pay a slightly higher fee than market makers on some exchanges.
Coinbase and Coinbase Pro (formerly GDAX) are owned by the same company. When you create a Coinbase account, you’ll able to use your Coinbase credentials to access Coinbase Pro.
Coinbase is a popular cryptocurrency broker which is intuitive, easy-to-use, and perfect for beginners. You can buy supported cryptocurrencies with a debit card, credit card, and UK bank transfer on Coinbase.
Coinbase Pro is a cryptocurrency exchange targeted at cryptocurrency traders. The fees on Coinbase Pro are lower (up to 0.5%) than on Coinbase (at least 1.5%), but it can be intimidating if you’ve never used something like it before.
In the long-term? It’s worth learning to use Coinbase Pro. Once you’ve used it a few times, you’ll probably prefer it over Coinbase – I know I do!
2. Buy Litecoin with a Bank Transfer: CoinJar
CoinJar is a cryptocurrency platform (founded in 2013) where you can buy, sell, and store Litecoin (LTC). It also supports a number of other cryptocurrencies – like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP).
The only supported GBP payment method on CoinJar is a UK bank transfer. Fortunately, this is via the Faster Payments Service (FPS). While your first deposit might take a little longer to process, this means that subsequent deposits will usually be credited on CoinJar within minutes of you sending them. This is pretty awesome.
CoinJar charges a fee of just 1% when buying or selling any cryptocurrency on its platform. The Litecoin (LTC) prices you’re quoted are based on the best available price on the CoinJar Exchange. When I’ve checked recently, I’ve found that it’s near-enough the real exchange rate.
Read my review or head over to their website to learn more.
3. Peer-To-Peer Route: Litecoinlocal
Litecoinlocal.net is a peer-to-peer (P2P) marketplace where you can buy and sell Litecoin (LTC) with other people. It’s available across over 100 countries and supports lots of traditional (i.e. fiat) currencies.
Although it supports many popular payment methods (e.g. PayPal, Cash, Western Union), there were only 8 sellers in the UK when I checked.
The lowest rate I found was more than 14% above the real LTC/GBP exchange rate too.
Unless you’re dead-set on buying Litecoin (LTC) with PayPal, cash, or a less common payment method, then I’d just use one of the options described above. You’re throwing away money if you pay these kinds of rates.Get Started Now
Best Litecoin Wallets: Safely Storing LTC
Litecoin Hardware Wallets
Just like any other altcoin, you’ll need a cryptocurrency wallet to store your Litecoin (LTC).
Hardware wallets are popular and well-recommended across the crypto-community. I’ve reviewed nearly every cryptocurrency wallet that’s available and ranked the best hardware wallet options.
One of my favourites and highest-ranked hardware wallets is the Ledger Nano S.
It continues to support more and more cryptocurrencies and can be bought from the manufacturer’s official website for less than £60 (incl. delivery).
There’s a reason it’s sold over 1.4 million units worldwide. Find out more in my full Ledger Nano S review.
Litecoin Software Wallets
Not an exhaustive list, but these options seem quite well-recommended across the Litecoin community:
- LiteWallet: Official Litecoin mobile wallet (originally built by Charlie Lee). Previously called LoafWallet.
- Atomic Wallet: My favourite multi-currency wallet which supports over 300 coins and tokens.
- Exodus Wallet: User-friendly cryptocurrency wallet which supports over 95 cryptocurrencies.
Other Crypto Guides
Looking to buy other cryptocurrencies?
Check out my other popular guides: