How To Buy Litecoin Australia – Buy Litecoin In Under 5 Minutes

Fact Checked by Gary McFarlane

Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.

You may have heard about Litecoin from your friends, colleagues, relatives, or maybe you have read articles and watched some crypto-related videos. In any case, If you want to tackle Litecoin buying, this article is what you need. You’ll find a quick guide to buy LTC right away, then we discuss it in detail.

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Buy Litecoin at eToro – #1 Broker

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  • Invest in a wide range of cryptocurrencies
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How to Buy Litecoin Australia – Quick Guide to Buying Litecoin 2021

Want to buy Litecoin Australia right away? Our top recommended cryptocurrency exchange is eToro; here’s how to get started:

  • Step 1. Open an account with eToro: Head over to the eToro website and click ‘Join Now’ to open an account.
  • Step 2. Upload ID: Upload and verify your identity with a copy of your passport or driver’s license.
  • Step 3. Deposit: Fund your trading account by making a deposit using a credit or debit card, bank transfer, or e-wallet.
  • Step 4. Buy Litecoin: Search for LTC, click ‘Trade,’ and place your order.
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CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 75% of retail investor accounts lose money when trading CFDs from this provider.

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CFDs are complex instruments and carry a high risk of possible rapid loss of capital due to their leverage. 71% of retail investor accounts lose capital when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take high risk in losing your capital.

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1.6333LTC
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for $100 you get
1.6333 LTC

83% der Konten von Privatinvestoren verlieren beim Trading von CFDs bei diesem Anbieter Geld. Ihr Kapital ist im Risiko

Where to Buy Litecoin Australia

You can see an ultimate top 5 brokers round-up to buy Litecoin in Australia down below. Make sure to check the features of each broker to understand which one is the best for you.

1. eToro – Overall Best Way to Buy Litecoin Australia

eToro is a well-regulated CFD trading firm founded in the United Kingdom that is currently available in over 60 countries worldwide. CFDs do not allow you to buy Litecoin in the classic sense. Instead, you pay the current market value of Litecoin, which is then locked up in a contract. If you start the contract and the Litecoin price is higher at the end, you’ll get any gains and your money back at the end of the contract. Losses occur in the same manner, so this isn’t a get-rich-quick plan. When making trading selections on eToro, you’ll need to conduct your due research, but it’s the same as it would be with a traditional ownership investment. eToro just eliminates the risks of ownership. 

The platform also helps you to learn more about crypto, hence trade more efficiently. If you want to get started in the financial markets but are unsure how, the eToro Trading School is a great free resource. Providing a range of educational tools, it’ll help you to learn the basics of trading plus the latest insights from their market analysts.

Trading School is a three-part, 90-minute webinar covering topics from stocks, currencies, and crypto assets to trading strategies and risk management. It also includes:

  • Market Watch — a weekly 60-minute analysis of the latest market news which will help you keep on top of your trading knowledge.
  • Podcast — hear the latest financial news in a fun and digestible format, with an analysis of the top three market news stories each week.
  • Guides — browse through the latest investment and trading guides, market reports, and news blogs.

You have to make a first deposit of $200; then, you can start trading. The minimum exposure for Litecoin is 25 U.S. dollars. You can use Paypal, Neteller, Skrill e-wallets, and more classic payment methods such as credit/debit cards, wire transfers, etc.

eToro — Litecoin Fees

Trading with eToro entails 0% commission. However, the broker still charges in the form of spreads. You can find detailed information under the eToro Fees tab. 

Assuming you’re about to open your first Litecoin position on eToro, let’s have a look at the possible spread size:

  1. Imagine the asking rate per Litecoin is 150 USD; your Initial investment is 450 USD.
  2. You open a position: 450 USD / Litecoin; Assuming the asking rate is $150 per Litecoin, you’ll get 450/150 = 3 units.
  3. eToro doesn’t charge any overnight fee. You don’t have to worry about timing. 
  4. Total spread you pay = Litecoin spread fees (1,90%) 0,019 * 150 USD * 3 units = 8,55 USD.

To find relevant data about other coins, check the Crypto spread tab on eToro.com.

Pros

The easiest way to buy LTC with PayPal

Offers Litecoin and other top-rated cryptocurrencies

You can buy Litecoin 100% commission-free

Use an e-wallet to fund your account

You only need $25 to invest in Litecoin

Automate your Litecoin trading using CopyTrading

FCA, SEC, and ASIC support eToro.com

You can trade a whole range of financial instruments and assets.

Cons

Since eToro works with U.S dollars, you can’t trade AUD directly

You pay a $5 fee to withdraw your funds.

CFDs come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading. Proceed at your own risk.

2. Capital.com — Best CFD Exchange for Litecoin Traders

Capital.com

The broker provides trading access to more than 200 cryptocurrencies, including Litecoin, XRP, Bitcoin, Dogecoin etc. Capital.com is one of the best brokers regarding the instruments available to clients because it offers a diverse range of assets. With about 800,000 clients across the globe, the broker’s overall trading volume has long ago surpassed 90 billion U.S dollars.

One of the most significant benefits of trading with Capital.com is the low minimum deposit of $20 and withdrawal limit of $50. The broker holds client money in separate accounts; however, they are not insured by the platform. Furthermore, the broker offers several trading manuals, instructional resources, and access to the most recent news. These services are intended to educate and assist novice traders.

Capital.com Fees — Reliable Litecoin Broker in Australia

Investing in Litecoin with Capital.com entails paying the spread. Even though the spread isn’t something constant (the difference between buy/sell price), on August 10th, 2021, the LTC/USD spread is 0.6%. Meaning that you’ll pay 0.6% each time you open an LTC position on Capital.com.

Below, you can see other fees Capital.com does or does not charge when you trade Litecoin:

Type of activity Fees
  • Deposit
  • Withdrawal
  • Real-time Quotes
  • Opening/Closing trades
  • Educational material
  • Dynamic charts and indicators
0% Fee
Crypto trading The spread varies for each trading pair and instrument.
Overnight charge The overnight fee is based on the leverage provided, not on the entire value of the Litecoin you buy.

 

Pros

Convenient mobile application (IOS, Android)

High credibility, according to Trustpilot

Helpful educational materials available for traders

Competitive spreads

You can access new data covering cryptocurrencies, indices, stocks, futures, etc. 

Cons

Some investors don’t appreciate CFD trading only.

Beginners can find a better place to trade LTC.

CFDs come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading. Proceed at your own risk.

3. AvaTrade — Solid MT4 & MT5 Broker to Buy Litecoin Australia 

AvaTrade website June 22

AvaTrade has an attractive trading interface: it’s simple and easy to use, resulting in a pleasant user experience. The platform offers you comprehensive graphs and charts to evaluate the LTC price fluctuations. On top of that, AvaTrade provides trading features that traditional exchange platforms do not. For example:

  • Short selling is the technique of continuing to trade during declining markets. You can make the most of the price reduction.
  • Leveraged trading is the practice of borrowing cash from a broker to trade a significantly larger position with a little initial commitment.
  • Automated trading is available – either algorithmic via pre-programmed trading bots, social trading via AvaSocial, or replicating the positions of experienced traders with a track record (Zulutrade).

Like most trading platforms, AvaTrade has a mobile/smartwatch app available for iOS and Android devices. Furthermore, you can open a free demo account which is valid for 21 days. Combining a demo account and a mobile app, you can practice trading without any risk, which is especially important for beginners. 

AvaTrade Fees — Reliable Litecoin Broker in Australia

Account fees, deposits, and withdrawals are free of charge. Avatrade charges you $50 if you’re not active for three months straight. On top of that, if you don’t use the platform for more than 12 months, you have to pay a $100 administrative penalty. 

As for trading itself, AvaTrade charges you spread. For example, the typical Litecoin spread is 0.6% over the market. You pay 0.6 % every time you open a Litecoin position.

Pros

Regulated around the globe.

You can trust for support and security.

You can use MT4 and MT5 trading terminals.

Trade Litecoin with leverage Up to 20:1.

High-class educational materials for beginners.

Support available in 14 different languages.

An abundance of trading & financial instruments.

Cons

Funds withdrawal might take extra time on weekends.

Some investors don’t like pushy managers.

CFDs come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading. Proceed at your own risk.

4. Coinbase – Reputable Litecoin Broker With More Than 35 Million Customers

Coinbase

Coinbase has developed relationships with several well-known businesses, including Dell, Overstock, and Time Inc, lending authority to the platform. More than 35 million members from more than 100 countries only approve the broker’s reliability. The platform has an Authorized Payment License in Australia, which means the Financial Conduct Authority accredited the broker. If you’re searching for a top-tier site to purchase Litecoin in Australia, Coinbase, like eToro, is a fantastic option. The purchasing procedure generally takes less than 15 minutes and does not require any prior understanding of how investments function.

The broker doesn’t force you to invest big; you can start with a relatively small deposit. The exact minimum you’re going to need depends on your payment method. You can choose anything from debit/credit card to bank transfer. The biggest concern for investors working with Coinbase is comparatively high fees.

Coinbase — Buy Litecoin Australia Flat Fees

Overall Transaction Amount Transaction Fee
$10 or less $0.99
More than $10, less than or equal to $25 $1.49
More than $25, less than or equal to $50 $1.99
More than $50, less than or equal to $200 $2.99

Coinbase Pro Fees 

Coinbase Pro fees depend on the trading volume: the more you trade, the less your fees.

Pricing Tier Taker Fee Maker Fee
Less than $10K 0.50% 0.50%
$10K to $50K 0.35% 0.35%
$50K to $100K 0.25% 0.15%
$100K to $1M 0.20% 0.10%
$1M to $10M 0.18% 0.08%
$10M to $50M 0.15% 0.05%
$50M to $100M 0.10% 0.00%

Pros

35 million customers approve the broker’s excellent reputation.

Beginner-friendly interface, helpful hints all over the site.

A plethora of payment methods are available.

You can withdraw your funds to a private wallet.

Convenient mobile app.

FCA-accredited broker.

Cons

3.99% fee on debit card deposits.

You may lose money when trading; proceed at your own risk.

5. Binance – Largest Litecoin Exchange That Supports Australia Debit/Credit Cards

Binance Homepage

Binance, founded in August 2017 by Changpeng “CZ” Zhao, only took 180 days to become the world’s largest cryptocurrency exchange, a position it still maintains today. It’s a crypto behemoth, with more than 1.4 million transactions per second and more than 500 cryptocurrencies available for worldwide consumers to trade. The platform is mainly focused on trading services – meaning that you will be buying and selling digital currency pairs on a short-term basis. It’s also involved in more complex financial products like futures and options.

Binance provides two types of digital currency trading platforms: basic and advanced. Neither the basic nor advanced versions are 100% user-friendly: you need at least the basic understanding to trade on Binance. The primary distinction between the basic and advanced versions is that the advanced version provides a more in-depth technical analysis of digital currencies over time, including Litecoin’s in-depth analysis. The simplified versions offer beginner-friendly graphs and charts for the pairs you trade; order books and trade history are also available.

Binance Fees — Largest Litecoin Broker 

Unless you pay with a credit/debit card, Binance offers quite competitive fees; they charge you a commission of 0.1 per slide. However, if you use a card, the transaction fee is 2%. Even though Binance is running a fee-reducing promotion, a 1% fee drop still doesn’t quench the thirst enough for many intraday traders (they offer a time-limited offer, charging you 1% for all Visa and MasterCard operations).

The spot trading fee is 0.1%, while Instant Buy/Sell fee is 0.5%. However, you can reduce fees if you hold BNB in your account. 

30d Trade Volume (USD) Maker / Taker Fees Maker / Taker Fees

if you hold BNB

< 50,000 USD 0.1000% / 0.1000% 0.0750% / 0.0750%
≥ 50,000 USD 0.0900% / 0.0900% 0.0675% / 0.0675%
≥ 100,000 USD 0.0800% / 0.0900% 0.0600% / 0.0675%
≥ 500,000 USD 0.0700% / 0.0800% 0.0525% / 0.0600%
≥ 1,000,000 USD 0.0500% / 0.0700% 0.0375% / 0.0525%
≥ 5,000,000 USD 0.0400% / 0.0600% 0.0300% / 0.0450%

Pros

The largest trading volume on the market

Supports hundreds of crypto

Competitive fees

Fully supports Australian debit/credit cards

The crypto market is available anytime

Tablet and mobile apps to trade wherever you are

Unbeatable reputation and credibility

Good fit for veteran and medium-hand traders.

Cons

Not always suitable for beginners.

A standard charge of 2% on debit/credit card deposits.

You may lose money when trading; proceed at your own risk.

Why Buy Litecoin Australia?

If you are still second-guessing yourself about buying Litecoin, this section is right for you. Let’s discuss some benefits LTC might bring to your investment portfolio. 

Litecoin Is An Open-source Network

Litecoin outperforms many math-based currencies in terms of transaction confirmation times and storage efficiency. With significant industry support, trade volume, and liquidity, Litecoin is a tried-and-true medium of exchange that works with Bitcoin. 

One of the substantial benefits you can rely on investing in Litecoin is an open-source system, which means modifications to LTC protocol are simple. Technical advancements such as SegWit and the Lightning Network protocol become a reality due to the transparency of the coin’s code. Which naturally increases the demand for the coin: both among institutional and personal investors.

On top of that, Litecoin is a peer-to-peer network and a decentralized alternative to paper money, which means users don’t have to rely on third parties, central banks, or authorities. Nodes are scattered worldwide, and the network is open to people from all walks of life. As a result, there are almost no intermediary commissions and the risk of price manipulation. Transactions are quicker and more convenient than banking systems: that’s what stimulates the market demand for LTC.

Litecoin Is Fast & Scalable

The Litecoin blockchain differs from Bitcoin: LTC generates blocks every 2.5 minutes on average (4x times faster than BTC). Such a speed means that participants in the system, such as coin sellers who receive or send coins, are guaranteed to receive faster confirmations when making one block of transactions. Another vital advantage of Litecoin is scalability. Litecoin can process 56 transactions per second. By comparison, Bitcoin can process seven transactions per second, while Ethereum can currently process 15 transactions per second. Higher transaction rates may spin LTC coin’s price. 

Litecoin Has Been Improving Regularly Since Its Launch

Litecoin is a flexible network that incorporates numerous improvements such as SegWit and the Lightning Network protocol to make transactions faster and easier. Interestingly, Litecoin creator Lee once said: “Imagine it’s two highways: today Bitcoin is packed with cars, and Litecoin is empty. Even with Bitcoins, cars today don’t drive on the Litecoin highway because it’s not connected and inconvenient (centralized exchanges and slow chain transfers). Lightning Network will build bridges across the highway. But a side benefit is that these bridges will connect the two roads together. Maybe there are enough bridges on Bitcoin to keep cars on the Bitcoin highway. I’m sure the convenience and cheaper tolls on the Litecoin highway will convince drivers to use Litecoin.” Non-stop improvements contribute to the value of Litecoin.

Litecoin Has A Robust Development Team

Since a former Google employee created Litecoin, the coin has some kind of built-in credibility somehow. Charlie Lee and his team regularly develop LTC, including better wallets, confidential transactions, and partnerships. Alba, for example, is one of the companies planning to use Litecoin for its smart contracts. As the company announced, “We chose Litecoin as the second asset class after Bitcoin for our smart-contracts investment solution. There are three main reasons: 

  1. Commitment to Bitcoin compatibility: core development plan, P2SH support, Lightning support, etc. 
  2. Slightly better scalability than Bitcoin in the short term (block size and block time); 
  3. Mining fees, which feature #2, although this is more of a short-term benefit, mining fees will probably skyrocket if we succeed anyway.”

Litecoin Is Easy To Trade

Many exchanges offer Litecoin, with eToro being one of the most robust, enabling investors to purchase LTC and trade CFDs on more than 90 cryptocurrencies. All hardware wallets support Litecoin, and there are atomic exchanges between LTC and BTC. Furthermore, due to its lower price compared to other major currencies and its near-zero transaction fees and low volatility levels, LTC is an appealing choice for novices wanting to participate in the cryptocurrency market.

Featured Broker
eToro
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CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 75% of retail investor accounts lose money when trading CFDs from this provider.

Featured Broker
AvaTrade
Buy now

CFDs are complex instruments and carry a high risk of possible rapid loss of capital due to their leverage. 71% of retail investor accounts lose capital when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take high risk in losing your capital.

Libertex
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83% der Konten von Privatinvestoren verlieren beim Trading von CFDs bei diesem Anbieter Geld. Ihr Kapital ist im Risiko

Rating
5.0
4.3
5.0
Mobile App Rating
10/10
9/10
1/10
Mobile App
Wallet
Number of Coins
1401559
Trading Fees
SpreadsN/AN/A
Deposit Fees
N/AN/AN/A
Withdrawal Fees
5 USDN/AN/A
Regulated
N/ACBI and MiFID in EuropeN/A
Min. Deposit
50$$100N/A
Leveraged Trading
N/A1:2 for cryptocurrenciesN/A
Bitcoin
$23951.58$24033.01$24044.99
Ethereum
$1748.56$1721.97$1727.97
XRP
$0.38$0.38$0.37
Tether
$1.00N/AN/A
Litecoin
$63.60$62.78$62.72
Bitcoin Cash
$155.73$154.74$154.82
Chainlink
$7.67$7.70$7.61
Cardano
$0.55N/A$0.54
IOTA
$0.33$0.32$0.32
Binance Coin
$284.75N/A$278.22
Stellar
$0.12$0.12$0.12
Bitcoin SV
$64.01N/A$63.63
USD Coin
$1.01N/AN/A
EOS
$1.32$1.30$1.30
Monero
$165.33N/A$165.98
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