Cryptocurrency doesn’t just mean bitcoins, now the scenario is completely changed. Yes, bitcoin is still the largest cryptocurrency according to the market capitalization but today other cryptocurrencies are also growing. Bitcoin’s alternative or altcoins like litecoin, dogecoin, etc are also gaining momentum like bitcoin.
Litecoin, launched by former Google employee Charlie Lee. Litecoin’s network takes only 2.5 minutes to process a block whereas bitcoin takes around 10 minutes. Because of this litecoin transactions are much faster than bitcoins.
Litecoin is based on bitcoin but differs in algorithm and block transaction time. After bitcoin, it is another pure form of cryptocurrency. It was launched in 2011 and got a tremendous response from the traders.
Its biggest benefit is easy usage, cost-effectiveness, and speed. Litecoin transactions can be completed in minutes with negligible transaction costs.
Today Litecoin’s price is $223 and market capitalization is around $14,75,36,95,946 USD. It ranks at number 8 in the Coinmarketcap.
With the introduction of PayPal’s cryptocurrency services, it became really easy to buy sell, or hold cryptocurrencies. Before that people have to find an exchange that supports PayPal and then buy litecoin.
buy Litecoin with PayPal
The U.S customers can buy litecoin with PayPal and it is very easy as well to do that. Just go to the crypto option on the dashboard and then you will get a list of cryptocurrencies supported by the app you have to select litecoin from it. Then confirm your identity, then they will ask you to agree on the terms and conditions of PayPal’s cryptocurrency. Then they will ask you to tell me the amount you will pay.
The latest price of litecoin will be displayed on your screen and you need to mention the amount you want to pay. And will ask you to pay with a bank account or debit card, and you are done.
And if you don’t want to buy through the PayPal app or if you are not a U.S user then you have to find an exchange that accepts PayPal.
There are a number of exchanges where you can buy litecoins but none of them accept Paypal. The problem is there is no way to buy Litecoins using PayPal, you have to buy bitcoins first then exchange them for litecoin at any exchange.
The reason behind the problem with buying litecoin using Paypal is that they have a system called Buyer Protection. This allows the buyers to ask for a refund when they were sold something that doesn’t match the description. In this way when someone buys cryptocurrency then the buyer can pretend that they receive the currency and ask for a refund. Therefore, the merchants ask for a higher fee to protect themselves.
There are two platforms where you can buy litecoins using PayPal that are LocalBitcoins and Virvox.They accept PayPal and their charges are also minimal.
