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How to buy cryptocurrency and store it safely?

Cryptocurrency is a new class of digital assets popularized by Bitcoin (BTC). While cryptocurrencies or digital/virtual currencies work much like their traditional fiat counterparts, the biggest difference between the two is the lack of centralized infrastructure and banks.Where fiat currencies are issued by and kept in banks, digital currencies are issued via distributed mechanisms that follow strict consensus protocols. This translates into cryptocurrencies being stored on blockchains which are largely immutable, much more transparent and globally accessible.Given their utility and growing list of use cases, cryptocurrencies are gaining popularity and one way to buy cryptocurrency is to use a reliable crypto exchange like OKX. On OKX, users can sign up, verify their identities and start buying Bitcoin and other cryptocurrencies instantly using credit cards, debit cards, bank transfers and other supported payment methods.Typically, when you buy cryptocurrency, you have to store it in a dedicated wallet, but the security of your digital assets depends on how safely your private key is kept. Every cryptocurrency wallet has a private key which allows complete access to the stored digital assets. If you lose your private key, you effectively lose your funds.Using an exchange like OKX also facilitates users because their newly purchased or traded digital assets are kept securely on the platform and are credited into users' accounts, available to be sold or transferred as required.Ultimately, users should always buy cryptocurrency from a reliable exchange, and if they withdraw their digital assets to a personal wallet, they should keep their private keys safe and backed up to ensure the security of their funds.

Why buy Litecoin with OKX?

Simple

OKX makes it easy to buy Litecoin with a user-friendly interface

Flexible

OKX offers a variety of payment methods and supports numerous local currencies to help users buy Litecoin

Fast

OKX users can instantly buy Litecoin with credit card and have it deposited in their account in minutes

FAQ

  • What is Litecoin?

    Litecoin is a blockchain-based crypto asset that was launched in 2011 by Charlie Lee. It is one of the top 20 largest cryptocurrencies by market capitalization and is commonly used as a payment method due to its low fees, quick confirmation times and general ease of use.
  • What is price of Litecoin?

    Like most cryptocurrencies, Litecoin doesn't have a fixed price. Instead, the LTC price is constantly changing and can vary considerably over any given time period. For example, one LTC was worth $30 at the start of 2018 and $41 a year later. The price of LTC can fluctuate for a large number of reasons, including changes in supply and demand, trader sentiment and recent news.

    View the Litecoin chart on OKEx to check its current price.

  • How is Litecoin different from Bitcoin?

    Both Bitcoin and Litecoin were designed to be stores of value and mediums of exchange. However, Litecoin is designed for smaller, faster payments, with its transactions confirming roughly four times faster than Bitcoin. LTC also uses a newer mining algorithm — known as Scrypt — for its proof-of-work consensus mechanism.
  • What is Litecoin used for?

    Litecoin is a decentralized store of value and medium of exchange, and, as such, it is commonly used as a payment method. More than 10,000 merchants worldwide currently accept Litecoin, with more being added each day.
  • Can i buy Litecoin with a credit card?

    Yes! OKEx allows users to buy LTC with their credit or debit card and various other payment methods supported by its fiat partners. After buying Litecoin on OKEx, your LTC will be transferred straight to your OKEx account wallet, where it can then be traded, withdrawn to an external wallet or invested using OKEx Earn.

Want to learn more before you buy Litecoin?

Get detailed information about cryptocurrencies listed on OKX, including their tech, founders and price history.