Use the simple form on the right to get a live quote and start the order process. All we require is your Litecoin wallet address, order amount and email. You will then be taken to a confirmation page where you can verify your order.
Please ensure that your details are valid before continuing, including your wallet and email addresses. When you click Confirm and Pay you will be presented with a UK bank account that you are to make your payment to. We recommend that you log in to your online banking prior to clicking Confirm and Pay, as you will have 30 minutes to make the payment.
Please make an online bank transfer using the details on the right. Remember to include your reference code, this may be 'message' or similar with your bank - each is different. If you forget to enter your reference code, your order may be delayed or cancelled. Once you have made your payment, please click on confirm and your order will be processed.
Please make an online bank transfer using the details on the right. Remember to include your reference code, this may be called 'message' or similar with your bank. If you forget to enter your reference code your order may be delayed or cancelled. Once you have made your payment, please click on confirm and your order will be processed.
You will receive a confirmation email shortly. If your coins have not arrived within 2 hours of placing your order, please get in touch with us.
Thank you for using Cryptomate
Your order could not be processed at this time, please check your registered email for more information.
Your order has timed out because you did not confirm if you had sent payment. If you did send payment and was received within the 30 minute time window then your order will be completed and you will be notified by email. If your payment is received outside of this time window we may need to recalculate the coin amount of your order.
If you were unable to make payment within this time window, please try again later.
Thank you for using Cryptomate
Litecoin (LTC) according to its creator Charlie Gee, an ex-Google employee is a lighter version of Bitcoin. This digital currency which was released via an open-source client on October 7 2011is seen as the silver store of value for cheaper and everyday purposes while Bitcoin is seen as the gold store of value for long term purposes. Litecoin (LTC) is similar and at the same time different from other cryptocurrencies that are in existence. When it comes to the similarities Litecoin (LTC) just like many other cryptocurrencies functions more like an online payment system (talk of PayPal for fiat currencies). Instead of using fiat currency, however, Litecoin (LTC) conduct transactions in units of Litecoin (LTC). On the similarities front, that is all that exists between Litecoin (LTC) and other cryptocurrencies. To understand what Litecoin (LTC) is, how it works and how it is different from other cryptocurrencies, continue reading this piece. Litecoin (LTC) is a peer to peer digital currency that is created by the elaborate process of mining. The supply of Litecoin (LTC) is fixed, there is only going to be 84 million Litecoin (LTC)s in circulation meaning miners will not be able to mine any more Litecoin (LTC)s once all 84 million units are in circulation.
This is an essential step as it guards against the depreciation of Litecoin (LTC) in value. Just like fiat currencies, the value of the Litecoin (LTC)s lie in their scarcity, once more and more Litecoin (LTC)s become readily and cheaply available, the value of Litecoin (LTC)s would plummet. Restricting the number of Litecoin (LTC)s in circulation, therefore, allay people’s fears of overproduction. Litecoin (LTC) creates a block which is a ledger entry of recent transactions every 2.5 minutes. This block is visible to any miner who wants to view it and it is verified by mining software. The block essentially carries all the value of Litecoin (LTC).
To lay hands on Litecoin (LTC), one will need to engage in Litecoin (LTC) mining. Litecoin (LTC) mining is basically a computational problem-solving process where the first miner to successfully verify a block is rewarded with 50 Litecoin (LTC)s.
Though a ‘currency’ (digital), Litecoin (LTC) is not primarily used as a medium of exchange but rather as an online payment system.
Regardless of size, it costs only 1/1000 of a Litecoin (LTC) to process a transaction. This makes Litecoin (LTC) a more affordable online payment system. In addition, Litecoin (LTC) blocks are created every 2.5 minutes in contrast to Bitcoin where blocks are created 10 minutes; Litecoin (LTC)’s shorter block generation time enables it to handle more transactions hence it can be used by many people including huge financial institutions at any time of day or night. The shorter block generation time also enables Litecoin (LTC) to confirm the legitimacy of transactions at a much faster speed to all other cryptocurrencies.
We have already stated that one way of laying your hands on Litecoin (LTC)s is by mining. The process of mining is however too energy-consuming and too technical for some people. As an alternative, those looking for Litecoin (LTC)s can simply visit Cryptomate exchange platform where they can purchase Litecoin (LTC)s using the British Sterling Pound. The whole buying process is pretty easy and also very fast as it takes just an hour or less for Litecoin (LTC)s to reflect in the wallet after placing an order.