How to buy litecoin uk is on a cryptocurrency exchange. These are regulated and offer high security standards, such as encryption and responsive 24/7 monitoring. You can also find a wide range of deposit and trading methods on these platforms, including credit/debit cards.

You can buy cryptocurrencies on eToro using your bank account, Neteller, Skrill, Rapid Transfer or Trustly, with the minimum deposit amount depending on which method you choose. Unlike some other exchanges, eToro doesn’t charge any network fees or deposit fees but instead includes a transparent trading fee of 1% in its spread for crypto assets.

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Buying Litecoin in the UK on an exchange is easy enough, but you must verify your account with photo ID and a proof of address to ensure that you are who you say you are. Once you have your funds on the exchange, you can then swap them for LTC.

While price gains on cryptocurrencies have been strong recently, it’s important to remember that these are highly volatile investments with no protection from the Financial Services Compensation Scheme and the Financial Ombudsman Service. You should only invest what you can afford to lose and always keep your cryptos in a secure wallet.

Cryptocurrencies are taxed differently in the UK to traditional securities and assets, with HMRC taxing profits on crypto investments based on their nature. If you’re a trader, you may face capital gains tax (CGT) on your profits, but if you’re using your cryptos for other activities, such as lending or DeFi, then it’s likely that you won’t have to pay CGT on your profits.