How to Buy Litecoin in Canada

Try our simple calculator to get real-time pricing for Litecoin.

LTC

$0.00

CAD

How to Buy Litecoin

To buy Litecoin in Canada, the process is simple, with Bitvo! We are a reliable and swift option to consider. Bitvo enables users to buy, sell, and trade cryptocurrencies securely and efficiently. To get started, sign up for an account on the Bitvo website and complete the identity verification process. Once you’ve set up your account, you can easily deposit Canadian dollars through bank wire or electronic fund transfer (EFT).

From there, you can purchase Litecoin and other cryptocurrencies through Bitvo’s user-friendly platform. With 24/7 support, competitive pricing, and an easy-to-use interface, Bitvo can be a great option for those just starting out with cryptocurrency investments in Canada.

Start an account using all of your information

Add funds

You can add funds in several ways, including Interac e-transfer

Start trading

Once the funds are confirmed, open your trading screen and get started!

What to know before buying Litecoin in Canada

What is Litecoin?

Litecoin is a cryptocurrency founded in 2011 by Charlie Lee. The project was inspired by Bitcoin and uses a proof-of-work consensus to secure the Litecoin network. Litecoin is the native token on the Litecoin network. The trading symbol for Litecoin is LTC.

Litecoin remains one of the top 20 cryptocurrency projects worldwide. It has a maximum coin supply of 84 million LTC.

Litecoin has had several forks, most of which have been unsuccessful. The most successful was Monacoin in Japan.

You can buy Litecoin on a cryptocurrency trading platform, exchange or receive it through the Litecoin network. You can also get exposure to LTC through financial products like the Litecoin Trust.

Founded

2011 by C. Lee

Coin Limit

Limit of 84 million. Supply reaching 69 million.

Purpose

Cryptocurrency alternative to Bitcoin for small transactions

Fast Transactions

In comparison to its popular big brother Bitcoin, Litecoin offers fast transaction speeds.

Decentralised

Because Litecoin is decentralised, the value of this cryptocurrency is not controlled by any single entity.

Secure Investment

Litecoin is subject to less market manipulation possibilities, making it an overall secure investment.

Why Purchase Litecoin?

Litecoin is a cryptocurrency that has been gaining popularity in recent times and for good reason. There are several benefits of investing in Litecoin, making it a unique cryptocurrency investment option. For one, Litecoin is known for its faster transaction times when compared to Bitcoin, even with heavier network traffic. This makes it an excellent choice for those looking to transfer their funds quickly and easily.

Additionally, Litecoin is one of the few cryptocurrencies that is truly decentralized, which means its value is not controlled by any single entity or government. This provides some level of security for investors, as there is less likelihood of market manipulation. Overall, these benefits make Litecoin an attractive investment option for those looking to diversify their portfolio with a promising cryptocurrency.

How Does it Work?

Litecoin is a unique cryptocurrency that has been gaining popularity in recent years. Using a decentralized ledger system called blockchain, Litecoin is able to provide fast and secure transactions without the need for intermediaries such as banks. As a result, it has become a popular alternative to traditional payment methods.

Additionally, Litecoin offers users a plethora of options for usage, from online shopping to investments and even charity donations. With its ease of use and fast transaction times, it's no wonder that Litecoin is quickly becoming a go-to option for those in the cryptocurrency game.

Invest

Explore the possibilities of this innovative currency now and into the future by investing in Litecoin!

Store

Unlike traditional currencies, you can store Litecoin as you please, and keep it as an asset for future opportunities!

Purchase

Buy, sell, or trade Litecoin how you want, when you want - it can be owned or traded by anyone, giving users flexibility with their investments!

Before You Buy Litecoin in Canada...

Litecoin Limits

Litecoin, a decentralized cryptocurrency that is often compared to Bitcoin, has its limitations when it comes to processing transactions. While Bitcoin can process up to seven transactions per second, Litecoin can process up to 56 transactions per second.

Litecoin Security

Litecoin has implemented security measures that make it unique. One of these measures is Segregated Witness (SegWit), which allows for the implementation of code that allows for more transactions to be processed. Additionally, Litecoin uses Multi-Algorithm Mining, which means that instead of only being able to mine with one algorithm, users can mine with multiple algorithms, which adds an extra layer of security to the network.

Trading Litecoin

As with other cryptocurrencies, trading Litecoin involves buying and selling coins on a cryptocurrency exchange or through a broker. While the price of Litecoin can be quite volatile, many traders have found success in trading this digital asset due to its high liquidity and growing adoption.

Litecoin & Taxes

Litecoin is considered as a commodity by Canadian regulators, and the change of LTE for products, services, or other cryptocurrencies is considered a barter transaction for tax purposes. Like anything else, major transactions using this form of cryptocurrency may be subject to capital gains by the CRA.

FAQs About How to Buy Litecoin in Canada

What makes Litecoin a unique choice for cryptocurrency?

When it comes to Litecoin, it is different from other popular cryptocurrencies such as Ethereum or Bitcoin because it applies a unique algorithm to its encryption. It also uses a proof-of-work consensus mechanism, and produces a greater volume of coins than other types of cryptocurrencies.

How can I buy Litecoin currency in Canada?

If you’re looking to purchase Litecoin in Canada, then don’t worry, it’s easy! All you have to do is go online to any verified cryptocurrency trader and create an account with basic details about yourself. This will allow you to become verified and set you up to fund your new account through e-Transfer. Then, you can start buying!

What are the pros and cons of Litecoin?

If you’re considering investing in Litecoin, you’ll likely want to know what the pros and cons are. One of the core pros of Litecoin is that it has lightening-fast transaction speeds, coming in at ⅕ of the time of most other cryptocurrencies. However, the downfall is that Litecoin offers total anonymity, which makes it a popular option for illegal purchases, thus increasing its volatility.

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How to Buy Litecoin

What to know before buying Litecoin in Canada

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How to Buy Litecoin in Canada

Buy, sell and hold Litecoin with Bitvo

How to Buy Litecoin

Start Investing

What to know before buying Litecoin in Canada

Ready to Get Started? Start Trading Today

Looking For Another Cryptocurrency?

Questions? We're here 24/7.

Chat with us

Email Us

Call Us