Safest ways to buy Litecoin in Europe

Litecoin investment has become popular in Europe and continues to attract individuals from different countries. As a beginner looking to make your first significant investment, learning how Litecoin investment works before taking the plunge is crucial.

You need to start by identifying the best cryptocurrency exchange or broker based on your investment requirements. Additionally, find the safest way to buy Litecoin in Europe, considering plenty of payment methods out there.

This article takes you through the different payment methods that are safe to buy Litecoin in Europe. We hope that in the end, you will be able to decide what works best for you and kickstart your venture on a good note. 

1. PayPal

PayPal is popular globally and has become one of the most preferred payment options for users in Europe, especially Germany. This is because it has proven to be quick in transactions and is user-friendly for new investors. Besides, PayPal has taken measures to secure your funds, and you do not need to worry about having money in your PayPal account.

However, before you buy Litecoin with PayPal, ensure you fully understand its transaction costs and decide whether it fits into your budget. In addition, find a Litecoin broker or exchange that accepts PayPal as a payment method to enjoy your experience.

According to a guide from Cryptomonday.de on how to buy Litecoin with Paypal in Germany, it is an excellent way to buy Litecoin through PayPal because the e-wallet is easy to use, fast and extremely convenient, “ist es eine hervorragende Methode über PayPal Litecoin zu kaufen, denn das E-Wallet ist einfach zu bedienen, schnell und äußerst bequem”- Cryptomonday.de

Pros of Buying Litecoin With PayPal

• PayPal helps in quick transactions as long as you have the best cryptocurrency broker or exchange in your corner. 
• This method is more convenient, and you can rely on it any time of the day or night. 
• The system is highly encrypted, and you do not need to worry about storing your funds there.
• The account sign-up procedure is pretty straightforward, and you can decide whether you want to have an individual or business account. 

Cons Of Buying Litecoin Using PayPal

• The provider charges a fee for transactions, which can be costly for some traders, especially if you are using crypto brokers with high costs as well. In this regard, ensure you can afford this payment option before kickstarting your venture.
• Not all cryptocurrency brokers or exchanges will accept PayPal as a payment option. Therefore, have a critical eye when selecting a Litecoin broker or exchange.

2. Debit/Credit Cards

Credit and debit cards payment methods are widespread, and it is unlikely to find a broker not allowing them for transactions. This method has been tried and tested by professionals, and you do not need to worry about its efficiency. In addition, it is highly secured, thus safeguarding your funds. 

On top of that, credit/debit card transactions in Germany allow you to purchase Litecoin through cash advance — a unique feature that is rarely found on other payment options. 

Pros of Buying Litecoin Using Debit/Credit Cards

• You can buy Litecoin using a cash advance and pay the amount at a later date as agreed. 
• You can only transact using this method once your account is fully verified, indicating high levels of security. 
• The method is backed up by plenty of rewards, including cash back, points, etc. It all depends on the issuer. 

Cons of Buying Litecoin Using Debit/Credit Cards

• Transactions may take longer, depending on your issuer.
• High-interest rates on loans may cost you a lot of money in the long run. 
• You may incur high fees when making cross-border transactions. 
• You may end up in debt, thus causing bankruptcy in the long run.

3. Bank Transfers

Many German traders prefer bank transfer payments when purchasing Litecoin internationally. It is one of the safest ways to buy Litecoin across borders, although it can be overwhelming for users. For instance, you need to visit your provider to complete the transactions, especially when making significant investments. In addition, the method takes longer compared to PayPal and credit/debit cards. 

Pros of Buying Litecoin Using Bank Transfers

• Safe and secure
• No amount limit, making it easier for investors to make large purchases.
• Simple and convenient
• No possibility for reversals
• Packet friendly compared to other digital forms of payments

Cons of Buying Litecoin Using Bank Transfers

• Completing a single transaction may take longer
• You will be required to provide your information, putting your account at risk.

Other Cryptocurrencies

German traders can also use other cryptocurrencies like Bitcoin and Ethereum to purchase Litecoin. The best element about this payment method is that it uses innovative technology that guarantees speedy and secure transactions. Whether making local or international payments, buying Litecoin using other cryptos is cost-effective. 

Pros of Buying Litecoin Using other Cryptocurrencies

• Minimizes the need to own multiple currency accounts since they are flexible to make local and international payments. You simply require a cryptocurrency wallet.
• Instant payments, making this method reliable 24/7.
• Low transaction charges compared to other payment methods. 

Cons of Buying Litecoin Using Other Cryptocurrencies

• It is not legal in all countries.
• Cryptocurrencies’ exchange rates are highly volatile, affecting the rates at which the sender obtains Litecoin and those at which the recipient converts Litecoin to fiat currency.

Conclusion:

From this review above on the safest ways to buy Litecoin in Europe, PayPal is a preferred option. This is because it is user-friendly, and you do not need to provide your personal details every time you want to transact. To fully benefit from PayPal transactions, ensure you use a regulated broker or crypto exchange. For instance, German traders should go for brokers that are Federal Financial Supervisory Authority (BaFin) regulated for the best experience.

Disclaimer: This is a paid article. KryptoMoney does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. KryptoMoney is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.