How to buy Litecoin with Paypal, a Credit Card or a Bank Transfer

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What is Litecoin in a nutshell?

Litecoin was created by Charles Lee, a former employee of Google. It has taken the general idea behind Bitcoin, but changed a few key component:

  1. The block time, is 2.5 minutes versus 10 minutes for Bitcoin.
  2. The mining algorithm which blocks the use of powerful ASIC miners like you have in Bitcoin.
  3. The total number of Litecoins available is 84 million as opposed to Bitcoin’s 21 million.

How to buy Litecoin? (PayPal, credit card, bank transfer)

Litecoin, Bitcoin’s younger brother has recently taken off to new heights. Since Litecoin reached its all time high on December 2013 of $38 it then plummeted and kept a steady exchange rate of around $3 for the last 3.5 years. However recently Litecoin started booming again, many people say this is due to the fact the currency has adopted the Segwit soft fork implementations.

litecoin price

Today Litecoin is trading over over $40 on most major exchanges. In this post I will cover how you can buy Litecoins using a credit card, your Paypal account or wire transfers. Keep in mind that using the first two methods will probably cost more than using the wire transfer. This is due to the fact that if you buy Litecoin with Paypal or a credit card the seller takes the risk of your requesting a chargeback on your transaction.

Step 1 – Get a Litecoin wallet

Before you buy your Litecoins you should first get a wallet to store them on. Between some of the  most popular wallets today for Litecoin are Coinbase, Exodus and Jaxx. If you’re looking for better security for your Litecoins you can use hardware wallets like TREZOR or Ledger to store them as well.

Step 2 – Find a Litecoin exchange

One of the main issues it’s currently hard to buy Litecoins is because most exchanges trade it only for Bitcoins (and not for USD or EUR). Therefor one option you have is to buy Bitcoins and then exchange them to Litecoins on exchanges like Polonix, BTC-e or Shapeshift.

However, there are some exchanges that allow you to buy Litecoins directly.

Coinbase – Allows you to buy up to $500 worth of Litecoins using your credit card. Higher limits can be achieved once you verify your identity. Coinbase accepts buyers from 33 countries around the world and the fees on the exchange are relatively low (mainly for ACH transfers inside the US).

Bitpanda – Allows you to buy Litecoin using your credit card, Skrill account, SEPA transfer or SOFORT transfer. Buying on Bitpanda requires verification and buying limits are relatively low (600 euros).

Step 3 – Buy Litecoins and withdraw them to your wallet

Once you decide on an exchange, open an account and buy the Litecoins. Make sure to withdraw the Litecoins from the exchange to your personal wallet. Never leave coins in an exchange as you risk losing them if the exchange gets hacked or shuts down.

Can I buy Litecoins with Paypal?

If you’re looking to buy Litecoins with Paypal there is no direct option. You’ll need to buy Bitcoins with Paypal through Virwox or other options (as shown below) and then exchange them to Litecoins on an exchange like BTC-e.

Important update!

VirWox is delaying new user transactions for up to 48 hours. This means that it can take you 2 days to complete this process. This is still way faster than using a wire transfer but keep in mind that this will probably not be instant (although in some cases it is relatively faster). If you find yourself getting stuck at any point don’t hesitate to contact me through the contact form on the site.

A few things to keep in mind before we begin. The first is that it’s really hard to buy Bitcoin with Paypal  because of the risk it poses to the seller. It’s still possible but now we come to the second point. Since we can’t buy Bitcoin with Paypal directly, we will buy it using a workaround. This workaround causes the transaction fees to be higher. I find this process still worth the cost because of the extreme volatility of Bitcoin.

Open an account in VirWox

The first thing you’ll need to do is to go to VirWox (Virtual World Exchange) and open a new account – look for the “Not registered yet” link as shown in the image below:

VirWox register as a user

Now just fill in your personal details. Where it asks you about your avatar name just leave it at “no avatar” and click “Register. Once this step is done you’ll be sent an email with your password.

IMPORTANT – Don’t forget to change your password

In the email from VirWox you will receive a password. Log into VirWox with that password. I strongly recommend you change it once inside since you will be transferring money through this account. You can do this under “change settings” as shown here:

VirWox change password

Fund your account through Paypal 

Now go to “Deposit” and choose the “Paypal express” method. Enter the amount of USD/EUR you want to deposit and click the Paypal checkout button. Note that if your account is new you will have a max limit on how much you can deposit. In time this limit will be removed and you will be able to deposit more and more.

Once the account is funded it’s time to buy some SLL (Second Life Lindens) and exchange them into Bitcoins. Start off by buying SLL in the SLL/USD exchange  as shown here:

VirWox buy Bitcoins with Paypal / Credit Card

After you see the SLL in your account (top left) you will now need to exchange them to Bitcoins. Go to the SLL/BTC exchange and exchange you Lindens to Bitcoins:

VirWox buy Bitcoins with SLL

Withdraw you Bitcoin

Go back to VirWox and transfer your funds into this Bitcoin address:

Now you can use Changelly or Shapeshift to exchange your Bitcoins to Litecoins.

Ofir Beigel

Owner at 99 Coins ltd.
Blogger and owner of 99Bitcoins. I've been dealing with Bitcoin since the beginning of 2013 and it taught me a lesson in finance that I couldn't get anywhere else on the planet. I'm not a techie, I don't understand "Hashes" and "Protocols", I designed this website with people like myself in mind. My expertise is online marketing and I've dedicated a large portion of 99Bitcoins to Bitcoin marketing.

10 Comments

  1. Osmar Jardim on

    Hey Guru Offir, how come you did not yet bring your litecoin into you hardwallet TREZOR?

    • Ofir Beigel on

      Since I actually don’t remember where I put it :) I bought my Litecoins when I was just starting out and didn’t back up my wallets etc. Now I don’t remember in which wallet I stored them and it seems like they are lost forever…

  2. Hi and thanks for all good infos, got a few satochis thanks to the Clams offer and looking forward for Byteball’s full moon give away.
    My little salt on this post:
    -Bitstamp as well offers buying BTC with Visa/Master at a cost of about 6,5% higher thank buying with money already on your account (wire deposit charged 0,05% but but not less than $7,50)
    Bitstamp as well offers direct deposit/wd to/from hardware, cold storage wallets as Leger or Trezor (KeepKey announced for “soon”…)
    – btc-e offers LTC/USD-EUR-RUR-BTC exchange.
    -Kraken offers LTC/USD-EUR-BTC exchange too.
    I think buying LTC is very easy comparex to some obscure alts offered recently.

    • Zsofia - 99Bitcoins support on

      Thanks Cedric for the feedback and sharing the info on further exchanges.

  3. Sandor Nagy on

    Bitstamp.net also added litecoin recently. They have LTC/USD, LTC/EUR and LTC/BTC pairs. I think it’s the most convenient and cheapest way for ppl in Europe.

  4. Guys,
    I’ve been collecting informations on the cryptocurrency world and I confess I still do not have lots of confidence on which site is best to use in order to buy Bitcoins and also another currency called BAT.
    I am especially interested in sites that allow me to store these currencies on a cold storage hardwallet and not on the sites itself. I understand that Coinbase does not allow the use of hardwallets which is the reasn why I will probably not use it.
    What can you advise on this ?
    Also I found your webistes really useful and very interesting. I love it though it lacks some more detailed informations and I would love to contribute if it is possible .

  5. PEREZ ANAMP on

    Hi Ofir.

    I am one of your followers on your site and I love the work that you are doing on informing people on how the cryptocurrency operates, esp bitcoins. I have a bitcoin wallet and I have an account in VirWox. My question is, can I be able to buy bitcoins in VirWox using my Visa Card in USD and then load up my bitcoin wallet? Your help will be appreciated. Thanks and keep up your good work.

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