Why is it difficult to buy Litecoin with PayPal?

Litecoin, often referred to as digital silver, is the largest global ‘Scrypt’ based network and has been operating uninterrupted since 2011.

As one of the more established coins, Litecoin aims to be a P2P cashless currency for the world and is seen as an innovator for developing new tech for transaction networks: such as the Litecoin Network for instant global settlement and atomic swaps.

Buying Litecoin directly with PayPal is not really possible right now. Generally you will have to go through a broker or exchange to secure some LTC.

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PayPal does however offer some advantages over other payment methods.

Steps to Buy Litecoin with PayPal

1. Choose for a list of recommended brokers and click Sign Up
2. Complete the KYC to validate your account
3. Click ‘Deposit Funds’ and you will be sent to the Payments Page
4. Click the pay with PayPal button
5. Select Litecoin (BCH) and enter an amount

Other Methods of Buying Litecoin with PayPal

Before Buying Litecoin or other digital currencies with PayPal, you will first have to understand the type of investor you are. Do you want to take possession of your LTC and store it in a hardware wallet for the long term?Or are you simply content to gain exposure to Litecoin price movements, quickly and easily without the hassle of owning the coins?

If you are the former, you will need to find an exchange or P2P marketplace that will allow you to deposit funds using PayPal. Unfortunately, PayPal is not widely accepted by exchanges. The reason for this is that PayPal transactions are reversible, while blockchain transactions are not.

Brokers typically offer PayPal as a payment method, so are a good alternative to exchanges. This is because broker transactions are not directly on the blockchain so they are not limited by block confirmations. Brokers typically use CFDs rather than the actual asset.

A contract for difference (CFD) is a type of contract that offers greater flexibility and fewer fees for active traders than crypto exchanges can offer.

If you can’t find an exchange or broker that accepts PayPal and lists LTC, you might like to buy another coin first like Bitcoin and trade your Bitcoins for Litecoin.