If you want to buy Litecoin in Australia, you’ve come to the right place. Our guide will walk you through some basic info on cryptocurrencies, as well as where you can go to buy Litecoin.

Users trade digital currencies like Litecoin through exchanges or CFD brokers. On these platforms, you’ll have to create an account, but once you do, you can deposit your AUD to buy, sell, or trade cryptocurrencies.

If you’re in Australia and you want to buy or sell cryptocurrency, there are plenty of options available so long as you only want to get exposure to major cryptos like Ethereum and Bitcoin. Our top platform picks are Plus500 and CoinSpot. Both of these options offer plenty of choices when it comes to gaining exposure to cryptocurrency.

Now, let’s jump into how to get started buying and selling Litecoin in Australia using Plus500 and CoinSpot.

Note: 80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Plus500UK Ltd authorized & regulated by the FCA (#509909). You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the Plus500 website.

Where To Buy Litecoin In Australia: Top Options

Contract for Difference

The great thing about Contract for Difference (CFD) is not having to hold the Option, Commodity, Stock or Coin while buying it. Those who use CFD for purchasing Litecoin can enter the contract at the price they want. Then, when the position reaches the point the user wants, they can close the contract. The difference between the buying position and closing position is then paid out.

The crypto CFD site that we really like in Australia is Plus500. Using Plus500, those interested in getting exposure to Litecoin have a way of riding the ups and downs of the LTC price. Additionally, these types of sites are regulated and don’t have the annoying storage requirements associated with standard crypto exchanges. Anyone using Plus500 will encounter a pleasant, innovate, and reliable method for experiencing the ups and downs of Litecoin. The no-fuss approach of Plus500, the bigger range of options and nice user interface make it our top choice for Aussies to get on Litecoin. Also, if you think you’ll want to trade on the go Plus500 also has top rated mobile apps for both Android and iOS.

Crypto Exchange

Those who opt for a typical crypto exchange are choosing a site which allows users to buy, sell, or trade Litecoin in Australia. If users want to purchase more than just Litecoin, they can do so through a standard exchange, so long as the exchange supports that coin.

We like using CoinSpot to buy Litecoin in Australia. It’s easy to use the exchange and it provides users with their own wallet to store their Litecoin. Ultimately, CoinSpot gives its users a simple and intuitive exchange on which they can buy, sell, and trade digital currencies, including Litecoin.

How To Sell or Buy Litecoin on Plus500

A great way to sell or buy Litecoin in Australia is through Plus500. Users on this CFD site can get exposure to the crypto without actually storing it. If using a CFD site to trade Litecoin sounds appealing to you, navigate to Plus500 and get started by registering for an account.

When you arrive at the Plus500 home page, select “Start Trading Now” (80.6% of retail CFD accounts lose money).

On the following screen, you can select either Real Money or Demo Mode. If you want to learn more about the site before depositing your own funds, click on Demo Mode. However, for our guide, we’ll choose Real Money.

You’ll also see download links at the bottom of this page which allow you to download the app to your Android or Apple mobile devices.

Next, you’ll see a form that requires some information to complete registration for the Plus500 site. Provide your email address and select a password. Plus500 also gives you the option to create an account using your Google or Facebook info if you prefer to go that route. Once you’ve provided your info, select the “Create Account” link to proceed.

Next, Plus500 will request some additional information and documentation. This helps to protect the site and ensure that they know who their customers are. This is a common practice for cryptocurrency exchanges, so don’t be concerned. Once Plus500 has all the information they need, they’ll activate your account.

Depositing Monies for Litecoin

You can start to deposit AUD into your Plus500 account after you get confirmation that your account is live. With Plus500, you can deposit your AUD via Paypal, Skrill, wire transfer, debit cards, or credit cards.

You can start buying Litecoin on Plus500 after your AUD shows up in your account. Select “Trade” in the menu on the left side of the site. Next, select “Cryptocurrencies.” Now you can see a list of the digital currencies Plus500 supports.

Buying Litecoin in Australia with Plus500 is simple and straightforward. The site gives users an easy way to buy crypto CFDs.

Now you’re all set to buy Litecoin. Click on the button that says “Buy.” A window will show up on the right side of the screen that lets you input your CFD specifics.

Tell Plus500 how much Litecoin you want. At this point, you also have the option to close at either a loss or a profit. If you need more granular control, there are advanced options available. When you’re ready, confirm your entries by clicking the “Buy” button.

Once Plus500 fills your order, you’ll get a notification regarding your position. You’ll see your margin, current profit and/or loss, and funds you have to trade. Once Litecoin gets to the point where you’re ready to close, select the “Close” button located beneath the Buy and Sell links.

How To Buy Litecoin with CoinSpot

One cryptocurrency exchange for buying Litecoin in Australia is CoinSpot. This platform is a traditional exchange that we like a lot. With CoinSpot, you can trade, buy, and sell cryptocurrencies. Anyone using CoinSpot has a great experience. It’s easy to use and navigate and is accessible across several device types.

If you want to use CoinSpot to buy Litecoin, head over to the site and get started by registering. At the top right corner, there is a button that says “Register.” Select that link to create an account with the site.

The next screen is a form you’ll fill out to register with the site. Give CoinSpot your email address and choose a password. If you have a referral code you can enter it here. Otherwise, click on the “I’m not a robot” box, then “Create Account” to finish registering.

You’ll get an email from CoinSpot after you finish the registration form. Inside the email is a link to validate your account. Click on the link to head back to CoinSpot to complete their Know-Your-Customer process. This is a method used to validate your identity and protect the exchange.

Find the button that says “Account” and click on it, then select “Verification.” The verification process asks for documentation to validate your identity. There’s nothing to worry about, as this is typical of most cryptocurrency exchanges.

During this process, we’d also recommend that you set up two-factor authentication. Enabling 2FA provides additional security for both your funds and your account information. CoinSpot lets you complete this through either Google Authenticator or by using SMS. If you decide to use Google Authenticator, you can download the app via the app store.

Funding your Account and Purchasing Litecoin

Once your identity is verified by CoinSpot, you’ll be able to load AUD into your account. Find the Dashboard and select “Deposit AUD.” At that point, you can decide which method you want to use for depositing AUD.

It might be a few days before your AUD shows up depending on which method you select. The exchange will tell you the amount of time you will have to wait based on the payment option you choose.

Once your AUD arrives in the account, you’re ready to buy Litecoin. Click on the “Buy/Sell” option located at the top of the site. Find Litecoin from the list of cryptocurrencies and click “Buy Litecoin.”

On the next screen, you’ll input how much Litecoin you want to purchase. The amount is displayed in both Litecoin and AUD so you don’t have to mess with doing the conversion. Enter the amount and choose the “Buy” link.

Once you click Buy, a popup will appear asking you to validate the amount of Litecoin you want to purchase. Review your order, then choose “Confirm Buy” when you’re all set.

When the transaction completes, the Litecoin will arrive in your CoinSpot wallet. Select the “Wallets” link at the top of the site to see your Litecoin balance.

Who Needs Litecoin?

Charlie Lee, the man who created Litecoin, says that Litecoin is primarily for those who make purchases or payments on a daily basis. Bitcoin, on the other hand, is used for stored value purposes. You’re giving up a little security when you use Litecoin, however, the transactions are much, much faster. They’re also a lot cheaper.

If you are the type of person who wants to perform transactions on a daily basis with cryptocurrency, then Litecoin might be the right option for you. It generates blocks faster than Bitcoin, which means it can handle more transactions while processing them quicker.

Think of it in terms of actual silver and gold. Silver was used in the past to purchase goods while gold was used as a store of value. Like Bitcoin and Ethereum, Litecoin is usually listed on exchanges since its one of the biggest and most popular cryptocurrencies on the market.