Are you trying to decide which types of cryptocurrency you would like to buy so you don’t miss out on any investment opportunities? Litecoin might be a good choice for you. LTC, or Litecoin has been around for almost as long as Bitcoin. It was developed by a former Google employee named Charlie Lee in 2011. He created it to be “the silver to Bitcoin’s gold.”
What Is Litecoin?
Like Bitcoin, Litecoin operates on a peer-to-peer network and utilizes blockchain technology. LTC is designed to be a decentralized and secure digital money for online transactions. Litecoin offers fast transaction confirmation times and low fees compared to traditional payment methods and even Bitcoin. Yet, there are a few distinctions between Litecoin and Bitcoin.
Litecoin has a faster block generation time compared to Bitcoin. Litecoin’s block time is approximately 2.5 minutes, while Bitcoin’s is around 10 minutes. This results in quicker transaction confirmations on the Litecoin network. Alongside, Litecoin has a higher maximum coin supply than Bitcoin. While Bitcoin has a maximum supply of 21 million coins, Litecoin has a maximum supply of 84 million coins. This higher supply intends to facilitate widespread distribution and adoption.
Now that you understand Litecoin, let’s review how to purchase it.
Find A Byte Federal Bitcoin ATM
Before navigating how to buy Litecoin from a Byte Federal Bitcoin ATM, you must track one down in your area. (Don’t worry; we simplify this process with our convenient Bitcoin ATM Map).
Download ByteWallet
Ready to buy Litecoin? You can wait to register, on location, at any Byte Federal Bitcoin ATM or register in advance using our ByteWallet app. To register in advance, download ByteWallet. You can also add a Litecoin wallet within ByteWallet to use the QR code provided to purchase the coin into a secure wallet.
Come Prepared
Once you’ve registered for an account with Byte Federal and downloaded ByteWallet, you can visit a local Bitcoin ATM to purchase Litecoin. If you choose to register using the ATM, you will need a government-issued ID to complete the registration. A government-issued ID can be a driver’s license or a passport. You’ll also need a smartphone and the cash you will use to purchase Litecoin.
Convert Cash To Litecoin
Select “Litecoin” on the purchase page, scan the QR code provided by Byte Wallet, then enter the desired amount of fiat you’d wish to turn into Litecoin. Byte Federal allows investors to purchase up to $29,500 daily with a completed registration.
Please note that at this time, Byte Federal only accepts cash as a form of payment.
Let Us Help You Discover
How To Buy Litecoin
Are you interested in learning how to buy Litecoin? Follow this brief guide to learn how to purchase Litecoin from the nearest Byte Federal Bitcoin ATM. If you have any questions or concerns, please do not hesitate to contact us for additional assistance.
