Litecoin

Once you add your bank card to your Rain account, you can use it to buy Litecoin directly. You can start by adding your card to your payment options on your Rain account. To purchase Litecoin using your bank card, you can select Litecoin, click Trade then select Buy. Enter the amount you wish to buy and choose your card from the payment options. Click Next to review and complete your purchase by following the instructions on the screen.

note: The purchase option with debit or credit card is not available for our users in Turkey

Rain enables you to buy Litecoin using your local currency. You can deposit funds through bank transfer, a process which takes 1-4 business days depending on your location. You can start by depositing funds to your Rain account from your bank account. Simply click on Deposit and enter the amount you would like to transfer. Click next and copy the instructions that will appear on your screen to complete the transfer from your bank account. Note that Rain does not automatically pull funds from your bank account and you will need to manually transfer the funds from your bank account to Rain's banking information.

Within 1-4 business days, the funds will be available in your Rain account and you will be able to use them to complete purchasing Litecoin. To do that, you can select Litecoin in your Rain account, click Trade and select Buy. Enter the amount you wish to buy with and click Next to review and confirm your purchase.

This is an easy process that requires only a few clicks. Here are the steps needed to sell Litecoin successfully:

On your Rain account, select Litecoin then click Trade and select Sell. Enter the amount you wish to sell and click Next to review and confirm your sell transaction by entering an OTP. You will receive a confirmation email once the transaction is done with the details.

Rain gives you the opportunity to sell Litecoin and withdraw your funds from your Rain account to your local bank account. First, you need to add your personal bank account to your Payment Methods option on your Profile.

Once your bank account is added, you can sell Litecoin and withdraw the funds to your bank account by clicking on Withdraw and entering the amount you wish to withdraw. Click Next to review and confirm your withdrawal information by entering an OTP.

Once the withdrawal request is submitted, you will receive a confirmation email that the withdrawal is being processed. Processing your withdrawal request can take between 1-4 business days.

If you would like to receive Litecoin in your Rain account, simply click on Receive and select Litecoin from the list at the top of the page. You can then either copy the address visible at the botom of the screen or share the QR code to to complete your receive transaction.

Make sure that you are using the correct network when receiving Litecoin to avoid possible loss of funds.

Litecoin (LTC) is a peer-to-peer cryptocurrency created to provide fast, low-cost payments across the world. It was launched in 2011 as one of the first major alternatives to Bitcoin and is often called the “silver to Bitcoin’s gold.” Like Bitcoin, it’s built on a decentralized blockchain but focuses on faster transaction speeds and lower fees.

Who created Litecoin and why? Litecoin was created by Charlie Lee, a former Google engineer, in October 2011. He wanted to improve Bitcoin’s design by making transactions quicker and more efficient for everyday use. His goal was to build a network that could handle frequent, smaller payments without compromising security.

How does Litecoin work? Litecoin operates on a blockchain similar to Bitcoin’s, where miners validate transactions and add them to a shared ledger. It uses a different mining algorithm called Scrypt, which allows for faster block creation and makes mining more accessible to a wider range of participants. New blocks are confirmed roughly every 2.5 minutes, which is about four times faster than Bitcoin’s 10-minute intervals.

What is LTC used for? LTC is primarily used as a digital currency for payments, transfers, and trading. It’s accepted by many merchants, supported on most crypto exchanges, and often used as a testing ground for new blockchain technologies before they’re introduced to Bitcoin. Many users also hold LTC as a long-term investment or use it to move funds quickly between exchanges.

What makes Litecoin unique? Litecoin’s main strengths are its speed, low fees, and reliability. It has proven stability over more than a decade and has introduced innovations like SegWit (Segregated Witness) and the Lightning Network, which help process transactions more efficiently. These features make Litecoin one of the most trusted and time-tested cryptocurrencies in the market.

How many LTC exist? Litecoin has a maximum supply of 84 million coins, which is exactly four times Bitcoin’s total limit. New LTC are created through mining, and the block reward halves approximately every four years (through a process known as halving), which helps control inflation and preserve scarcity over time.

How secure is the Litecoin network? Litecoin uses a proof-of-work consensus mechanism, meaning transactions are verified by miners using computational power. Its long history, active developer community, and broad node distribution contribute to its security. Over time, Litecoin has earned a reputation for being stable, transparent, and resistant to major attacks.

What are the benefits and risks of Litecoin? Litecoin’s key benefits are its fast confirmation times, low fees, and long track record of reliability. It’s widely supported across wallets and exchanges, making it easy to trade and use. However, like most cryptocurrencies, LTC can experience price volatility, and competition from newer networks may affect its long-term adoption.

How can I buy or store Litecoin on Rain? You can trade LTC on Rain very easily. To buy LTC, visit the buy page, and select your fiat account or your debit or credit card to complete your purchase within a few moments. We have created this step-by-step guide to walk you through the process. You can also send or receive LTC through your Rain account, or store your LTC using Rain’s secure custodial services. You can always refer to our 24/7 support for any questions or needed assistance.

Is it safe to hold LTC on Rain? Yes. At Rain, your LTC is protected by strong regulatory oversight, advanced security systems, and robust custody practices. As a licensed and regulated platform under the Central Bank of Bahrain and ADGM in the UAE, Rain maintains a strict 1:1 asset to funds ratio and undergoes independent audits to ensure transparency. However, some risks remain outside of Rain’s control, and customers are always advised to conduct their research before trading.