Buy LiteCoin(LTC) in India using INR

LiteCoin is going crazy in the past two days increasing 4x times to 30k INR mark. People are going crazy and getting their hands on the BitCoin silver or the Next Big Crypto Rush. In India also investors are interested in buying LiteCoins. Other than buying LTC from foreign exchanges like Bittrex or Binance using Credit Card or BTC there is options for buying LiteCoin using indian rupees (INR) directly. This post will talk about some options for INR purchase

What is LiteCoin

It is a CryptoCurrency similar to BitCoin (BTC). LTC also not managed by any central authority. It is faster compared to BitCoin blockchain. Currently the price is less and growing exponentially similar to bitcoin in the past year.

Easy & Fast Options to Buy LiteCoin(LTC) for first time investors

There are two options to buy LiteCoin in India

1. Through Foreign Exchanges

You can buy LTC in foreign exchanges like Bittrex,Bitfinex,Binance etc similar to other altcoins using USD (through Credit Cards) or using BTC already bought from some other sources.The problem with this is the conversion charges involved . Also if you are a new investor to Cryto and you don't have a credit card things will get complicated.The transaction charges are comparatively higher and if you are investing less amount (<50,000INR) you gain margin will be less after deductions.

2.Through India Exchanges

There are multiple Indian exchanges like Zebpay,Coinome,Koinex etc which let you buy Crypto-currencies using Indian Rupee directly. For small scale investors (<25,000) who want to try out this market this is the best option. Since charges are less and no need of credit Card. Any way these exchanges ask your KYC information like Aadhar Number,Pan Number Bank details etc during registration.

I personally use Coinome and Koinex for buying LTC other CryptoCurrencies. Both are easy to use websites,both has its own advantages and disadvantages. Any way there is NO APPS for these exchanges

Coinome

Coinome.com is a Billdesk(the same one we see in IRCTC gateways) subsidiary.Since it is from a well established fintech group the processes and interface as better in coinome. They have the quick eKYC option using OTP and Aadhar (If your adhaar is linked to a mobile number). It support 3 Crypto Currencies now - BitCoin (BTC), BitCoin Cash (BCH) and LiteCoin(LTC)

You can transfer money to Coinome using Netbanking or NEFT/IMPS transfer. As of now no extra service charge is levies for Netbanking as an introductory offer in this site.

Once you have the money in wallet then you can buy the coins ,even small parts like 0.001 LTC are allowed.The transaction fee is 0.1-0.3%.

The Coin prices in Coinome are high compared to other exchanges due to large volumn of transactions happening.

Koinex 

Koinex.in is another Indian Exchange which support 5 CryptoCoins - BitCoin (BTC), BitCoin Cash (BCH) ,LiteCoin(LTC),Etherium (ETH) and Ripple (XRP).

Note: Ripple is a cheep cryptocurrency which around 20Rs. now. 

Koinex only support NEFT/IMPS method for adding money to wallet. But Transaction charges are comparatively less. But the KYC takes 2-3 days since there is no OTP based eKYC. The remaining things are same as Coinome. 

Generally the prices on Koinex is less (2-3%) compared to Coinome.

There are other Indian Exchanges that gives option to buy LiteCoin. Since I didnt use them I am not in a position to give my opinions about those.

Thank you friends for reading this article. Hope you make a huge profit on LiteCoin!!!

Disclaimer : CryptoCurrency is a high risk market. There are chances that the price may drop drastically. Take the buying decision based your risk appetite. This is just an information site. We are not responsible for any loss incurred in the investment