Buying Litecoin in Kenya: You might have come across Litecoin while exploring bitcoin but a very significant portion of people knows what Litecoin is. Created in 2011, Litecoin serves as a valuable bitcoin alternative and ensures quick, easy, and efficient transactions with fewer drawbacks than bitcoin.
Chars Lee, who introduced Litecoin, marks it as a smart and better-performing crypto that allows nearly 2.5 minutes to confirm and activate transactions compared to bitcoin which takes 10 minutes to send money. Many other factors have attracted investors towards Litecoin throughout the years but Kenya has always found buying Litecoin difficult.
Being a developing African country, Kenya has remarkable achievements when it comes to cryptocurrency. After successfully profiting from Bitcoin, Ethereum, and Ripple; the country eyes towards Litecoin and looks forward to excelling with this cryptocurrency too. Buying bitcoin in Kenya is comparatively hard compared to other cryptocurrencies. Not only is it hard to access but also faces severe rules and regulations when buying.
Today, Litecoin is recorded to have a massive supply of 84 million LTC compared to bitcoin that has only 21 million supply. This also indicates that Litecoin is widely available in every crypto country all over the world. If you reside in Kenya and are looking forward to buying Litecoin, then here is a short, simple guide for you to kickstart your Litecoin journey living in Kenya.
Overall, there are several ways through which you can buy Litecoin easily. Whether you’re a beginner trader or shifting towards Litecoin; you can check out some effective ways here.
Like bitcoin wallets, there are several digital wallets present to store Litecoin once you’ve purchased it. From software and hardware wallets to hot and cold wallets, many different types of storage wallets are present that can safely store your bitcoin and enable you to pay whenever needed. These wallets also help in keeping the possible risks for your Litecoin at bay and allow you to access them on a few clicks from your mobile no matter where you are.
Cryptocurrency exchanges are services that help you exchange your crypto into other fiat or foreign currencies. Litecoin exchanges perform the same function and change your traditional currency into Litecoin to help you start trading it in no time. You can use auto-trading platforms like Bitqt app or exchanges for buying and selling your favorite cryptocurrencies.
Some of the popular Litecoin exchanges in Kenya are:
Binance: Being a global Litecoin exchange, Binance works by storing your paper money through ways like banks or transfers through credit and debit cards. Once you’ve handed the money to the exchange, they will now convert it to Litecoin and return it to you. Due to the amazing facilities of instant interface and low trading fees, this Litecoin exchange has become very famous in Kenya throughout the years.
Coinbase: It is undoubtedly one of the most popular, effective, and widely used crypto exchanges that also covers Litecoin exchange in Kenya. Not only the Litecoin exchange helps in buying Litecoin at the best prices but also saves you from hassle like technical difficulties. It also accepts payment through credit or debit card, and bank plus has extremely friendly customer service to assist you in every matter.
See Also >> Tips On Maximizing Profit From Cryptocurrency
Buying Crypto by Exchanging Bitcoin: As already mentioned, Litecoin is a useful copy of bitcoin, thus you can also buy Litecoin by simply exchanging your bitcoin into Litecoin. This is a very effective way for those who are already trading bitcoin and want to start using Litecoin side by side. Many Kenyans have started using this technique to get so many Litecoins in exchange for one bitcoin.
Buying any crypto is a very speculative decision especially if you live in Kenya whose government has always restricted the citizens from trading crypto. The frequent devaluation of Kenya’s national currency Shilling definitely persuades one to trade cryptocurrency through smart Litecoin buying tips as mentioned above.