Buy Litecoin (LTC)
The rate of development of cryptocurrency around the world is far too fast compared to simple fiat money. It was only a few years ago that humanity was first able to recognize the concept of digital currency, and today you can already see tens of thousands of applications on exchanges to invest their money in digital coins.
Today, we will talk about Litecoin cryptocurrency (LTC), which can be called a stable investment choice and a good element for your balanced crypto portfolio.
What is Litecoin?
Litecoin (LTC) is a cryptographic virtual (electronic) coin based on the Bitcoin software and similar principles (anonymity, security, high-speed transactions). The system was developed by former Google programmer Charles Lee in 2011, and two years later it was positioned as an alternative to the existing Bitcoin. The peculiarity of the fork is the open- source code, which allows anyone to change or copy the software.
Litecoin is now one of the largest digital currencies, with a market capitalization of over $12 billion. This makes the coin one of Bitcoin's strongest competitors, along with Ethereum. This cryptocurrency can be used to transfer funds into Bitcoins, as well as to buy goods and pay for services at outlets that officially accept payment in the cryptocurrency.
Litecoin's advantages over Bitcoin:
- Features fast transaction confirmation times;
- Blocks are formed four times faster;
- High network bandwidth;
- Transactions take no more than 10 minutes.
How to buy Litecoin (LTC)?
To buy Litecoin in Malaysia, you need to use specially created services-trading online platforms. This is the easiest and most convenient option.
Online trading platforms are programs that provide access to financial markets and allow traders to make transactions online.
On the basis of the charts broadcasted by the trading platform, a trader makes a decision about the deal. The quality of the information provided by the trading platform determines the success in trading, because the terminal not only shows what is happening in the cryptocurrency market now, but also gives an opportunity to study the development of the situation in the past.
On the platform, you will have a large set of analytical tools available to help you in your trading, such as charts, indicators, signals, news feeds, trading robots, etc.
You may find and choose the best rate to buy Litecoin, but it is important to keep in mind, that the price of the coin may differ in every platform, because different online exchangers charge different commissions for their transactions.
You may buy LTC on the terminal, both for fiat money and for cryptocurrency, it all depends on which way is more convenient for you.
Here are some advantages of modern platforms:
- Competent support service.
- Processing of requests in an accelerated mode.
- Training courses for beginners.
- Large selection of cryptocurrencies.
- High level of security.
- Wide range of deposit and withdrawal options.
Another convenient way to buy Litecoin in Malaysia is through a mobile app. Lately, this service is very much in demand, so almost every broker offers it to their clients. It's convenient, especially if you don't have time and desire to spend hours at the trading terminal.
Mobile applications allow traders to trade using a smartphone, anywhere and anytime. They also allow traders to monitor the market instantly on their devices. If you are involved in cryptocurrency investing or trading, you need a trading app because digital assets are highly volatile, and you are required to make quick decisions.
You can also buy Litecoin cryptocurrency the classic way by opening a cryptocurrency wallet on a reliable online exchange and install it on both your computer and smartphone to have constant access to your virtual assets.
How to invest in Litecoin ?
Litecoin, is a great option for smart investing. By simply registering on the online platform, you will be able to buy the planned amount of coins!
You can approach investing in cryptocurrency in the following ways, which we will discuss in a moment. Choose the one that suits you best.
Long-term investing. By this we mean buying Litecoin with a long-term investment horizon - a year, two, three or even more. The goal of the investor in this case will be to buy the coin at the lowest rate and wait for it to rise, in order to sell it at a profit after a few years.
Keep in mind, however, that this type of investing still requires a large initial capital, otherwise the end result will be a small profit.
It is therefore not always possible for first-time investors to afford long-term investments.
The second way to invest in Litecoin is through speculation or short- term trading.
When we define the limits of short-term investing, we usually mean 1 to 12 months. However, more experienced traders trade almost every day!
In this case it is important to be able to forecast price movements of assets in the short term - a couple of minutes, hours, a few days or weeks.
Knowledge of technical analysis is very useful here. A speculator should be always in the know of all occurring processes, as they say, should be in the market. It always requires a significant amount of time for analysis of the current market situation. The main advantage of speculation is the high potential profitability.
By investing through the trading platform, you trade Contracts for Difference (CFDs) and speculate on the Litecoin price difference.
When you trade a CFD on Litecoin, you are not buying the underlying asset itself, meaning you are not tied to it. You speculate on the rise and fall in the price of the cryptocurrency. CFD trading is no different from traditional trading in terms of strategies. A CFD investor can open short or long positions, set stop-losses and limits and apply trading scenarios that suit the objectives. Order execution for trading Litecoin CFDs is almost instantaneous.
You can also use leverage, i.e. open larger positions in the market.
Leverage is a service that a broker provides to his clients. It is borrowed money that can be used to trade on the platform.
Therefore, the CFD option is definitely a good choice for traders with a modest initial capital.
When considering this option, please assess all possible risks and only then start to invest in Litecoin in Malaysia.
Do not forget about proper asset diversification (risk allocation). Some investors prefer to buy and hold only large digital currencies, while others experiment with promising altcoins. Either way, a conscious approach to building an investment portfolio, which should definitely include Litecoin, provides more opportunities for returns. In addition to risk diversification, a cryptocurrency portfolio will allow you to participate in more projects that can generate high returns at an early stage.
How to start to invest in Litecoin (LTC)?
If you think that investing in cryptocurrency is difficult and requires specific skills, this is not the case at all. Thousands of crypto-investors have already made fortunes from digital assets, and so can you. Here are some basic rules to help you understand where to start to invest in Litecoin in Malaysia:
- Start by choosing an online platform for safe and convenient trading. The reliability of a trading platform is primarily determined by the volume of trading and the number of users.
- Get basic investment knowledge, especially since modern platforms offer training materials and seminars to their clients. Study Litecoin, follow the cryptocurrency market and analyse.
- It is recommended to invest only free funds. This is the amount you can afford to lose if you fail. Put your knowledge into practice with a small deposit, gradually increasing it.
- Don't be afraid of a fall in Litecoin (LTC), even if the situation lasts several months. On the contrary, this is the best time to buy the coin. As soon as the exchange rate rises again, you can sell your assets and make money.
- Decide on your investment objective and choose a strategy to follow.
Security of an investment in Litecoin (LTC)
It must be said that the outlook for Litecoin cryptocurrency has positive characteristics. The coin's popularity is gaining momentum every day, indicating the prospect of a higher price.
Litecoin is faster and cheaper to use than Bitcoin and has more security. As Bitcoin and Litecoin work together, as long as Bitcoin succeeds, Litecoin has a better chance of advancing and reaching new highs.
How safe is it to invest in Litecoin (LTC) online?
It's quite safe, although no online platform will give a 100% guarantee. But you should know that all payments are made anonymously. Any transaction is hidden from prying eyes. The system works automatically and does not allow users to hack into accounts in any way. Each customer's money will be kept as safe as possible.
Register on the online platform and start earning today! With us, you will be successful and independent!