It all started back in 2011 when Litecoin was introduced for the first time. This means that Litecoin is one of the oldest cryptocurrencies on the market. Some people consider it to be as good as Bitcoin. Just like Bitcoin, we are talking about a decentralized currency, an open source network which works without any centralized authority behind it. The main difference between Litecoin and Bitcoin is that Litecoin block generation is conducted much faster.
If you want to bu Litecoin in Canada, you should focus on places with a strong reputation. In this article, we will highlight a few places where you can buy Litecoin without any hassles. Choose the one that suits your needs as a buyer in the best possible way.
Kraken is a well-established, reputable cryptocurrency exchange that has a long list of cryptocurrencies in its offer. Obviously, Litecoin is one of them. This exchange was founded back in 2011, the same year when Litecoin was revealed. Kraken is present worldwide and Canadians can freely join this site and use it to buy and sell Litecoin. Most users in Canada utilize wire deposits on Kraken which are by the way completely free of charge.
Every transfer is finished between one and five business days. Keep in mind that there are some daily and monthly limits involved. The daily limits are between 2.500 and 25.000 CAD and the monthly limits are between 10.000 and 200.000 CAD.
If you are interested in buying Litecoin in Canada, then you should check Coinbase too. Coinbase is one of the most successful online cryptocurrency exchanges that work with Litecoin. This US-based exchange has more than 7 million users now and their number is growing every day.
Coinbase is known for its high liquidity and instant buy feature. Besides Litecoin, you can use it to buy and sell Bitcoin, Bitcoin Cash and Ethereum. They have created a website that is very easy to use which means that even if you are new to this, you won’t have problems figuring out how the process of buying and selling works. The only downside is their customer support which can be slow at times.
Canada has its own, genuine and reputable online digital currency exchanges. One of these exchanges is BitBUY.ca. What makes BitBUY really special is the fact that users can search for competitive rates over two or more online exchanges. Of course, another huge advantage for Canadian users is that they can place deposits in Canadian dollars. This means that they won’t lose any money due to conversion.
BitBUY accepts a wide array of payment methods including Interac online, Bank wire, Flexepin vouchers and Interac e-Transfers. Regardless of the payment method you choose, you will still have to verify your account. But, what makes these methods different is the funding time – some options are instant while the funding time for the rest is up to 5 business days.
This is one of the fastest growing online cryptocurrency exchanges in the world. It works more like a social investment platform, but people in Canada can use it to buy Litecoin too. With the help of eToro, users can interact with other users and check the most successful traders which is an excellent way to improve your trading results. Canadians have many different withdrawal options too and this site offers huge monthly limits. You can use eToro not only to buy Litecoin but also to buy Ethereum, Bitcoin, Dash, Ripple and even Ethereum Classic. The disadvantage of using this platform is that it doesn’t accept cryptocurrency deposits.