If you’re thinking about investing in Litecoin, you may be wondering when the best time to buy is. Fortunately, we have created an ultimate guide to help you out! In this article, we will discuss the factors that you should consider before making your purchase. We will also provide you with a list of tips that will help you make the most of your investment!
How do I buy Litecoin?
The process of buying Litecoin is fairly simple and straightforward. You can use a cryptocurrency exchange platform to purchase it with fiat currency such as USD, EURO, etc.. Once you have purchased LTC on an exchange platform then you’ll need to send them over from that wallet address directly into your own private Litecoin wallet address (we recommend using Exodus for this part).
This is a good option if you want to invest in Litecoin but don’t want the hassle of keeping track of all those transactions on an exchange. Also, it’s important that you keep your coins safe from hackers or thieves by storing them offline instead of just having them sitting around on some random website.
However, if you want to make money off of Litecoin then it is recommended that you use an exchange platform. There are some good guides too on how to buy a Litecoin which will show you the exact steps.
Where should I store Litecoin?
Once you have purchased Litecoin, you will need to find a place to store them. This can be done in a few different ways:
- Hardware wallets such as the Ledger Nano S or Trezor.
- Online/desktop wallets such as Exodus or Jaxx.
- Paper wallets are simply printouts of private keys printed on paper that can be stored offline. If you decide to use a hardware wallet, it is recommended that you set up two-factor authentication in addition to your passphrase so as not to lose access if anything happens with one device (for example: losing your phone).
- You may also consider keeping the Litecoin in a cold storage wallet by printing off the QR code generated from your exchange account. This means that if anything happens to your computer or phone, you won’t lose access to the funds!
When is the next Litecoin halving?
The halving is a pivotal event that happens every four years and it’s when the number of Litecoins awarded to miners for each block mined is reduced by 50%. The next halving is set to happen in August 2023. So, if you’re thinking about investing in Litecoin, try to snag it before the halving takes place.
Can I mine Litecoin with my own GPU?
In short, the answer is yes. However, you will need to have a fairly powerful graphics card in order to be able to mine Litecoin, or you won’t get much in terms of rewards.