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Owning Litecoin

Owning Litecoin is not synonymous with trading the asset class. Some investors might choose to buy Litecoin via a broker and store it in a private crypto wallet. In this case, the investor owns the underlying Litecoin and can do with it as they wish. Often, people will buy an amount of cryptocurrency with the hope that it will increase in value over the medium/long term. Buying crypto in this way is referred to as HODLing – effectively an industry term for holding onto cryptocurrency until it appreciates in value, rather than making short term trades.  

In order to buy Litecoin, you’ll first need to set yourself up with a cryptocurrency wallet to store the currency. These come in various forms, including both hardware and software variants, but are not so dissimilar from a traditional cash wallet in how they work. Once you have a wallet, you can use a brokerage service like eToro to buy and sell Litecoin, if and when you decide to. 

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