Australians can purchase Litecoin on a crypto exchange like [Cointree](https://www.cointree.com/). A crypto exchange lets you buy and sell digital assets, including Litecoin. Tens of thousands of Aussies choose to buy crypto from Cointree. We're an AUSTRAC regulated exchange where you can instantly buy and sell Litecoin. All you need to do to get started today is create an account, verify your ID, deposit funds, and you're ready to buy Litecoin.

Yes. You can buy Litecoin instantly with AUD. All you need to do is deposit AUD to your account on Cointree and you can instantly convert your dollars to Litecoin. It only takes a few clicks. Even better, it's quick to transfer dollars onto your account. Using PayID/OSKO in online or mobile banking, you can instantly send AUD to your Cointree account.

Yes. You can use Litecoin to trade with over [250 other cryptocurrencies](https://www.cointree.com/trade/cryptocurrencies/) listed on our platform. You can also access our [auto trade](https://www.cointree.com/news/never-miss-a-trade-with-cointree-s-auto-trading-and-price-alert-features/) features and price alerts so that you never miss a trading opportunity again.

Litecoin was created in 2011 by the former Google engineer Charlie Lee, making it one of the oldest cryptocurrencies. Based on Bitcoin’s code, it also uses a proof of work consensus mechanism, but is designed to be more efficient for everyday use.

As many investors consider bitcoin as digital gold, some consider Litecoin to be digital silver, including founder Charlie Lee who called it “digital silver” in an interview on CNBC. Much like silver compared to gold, it has a lower price in Australia (LTC/AUD) and the low fees make it more efficient for transactions. Moreover, Litecoin is also easier to mine than bitcoin, much like silver is easier to mine than gold in the real world. As bitcoin’s blocks are full and everyone must compete to get their transactions included in a block, fees are much higher than on Litecoin, where competition for block space is far lower. This is important for purchasing low-value items like a cup of coffee, where you need fees to be as low as possible.

Litecoin is considered easier to mine because you can use either a central processing unit (CPU), graphic processing unit (GPU) or application-specific integrated circuit (ASIC) miner. In contrast, bitcoin miners require ASICs. This is because Litecoin uses the Scrypt algorithm, rather than the SHA-256 algorithm. Ultimately, this decision has kept Litecoin mining more accessible to the average person.

As Litecoin has been around since 2011, it uses older technology that has proven to be reliable and has stronger network effects than some newer coins. Is it a good investment? For traders, it can depend on Litecoin’s AUD price and their expectations for it to rise in the short-term. For investors, they are more likely to buy Litecoin based on the fundamentals of the project. Short-term Litecoin price predictions are more important for traders, while long-term Litecoin price predictions are more relevant for investors. What is Litecoin’s price long-term history? While you can see the weekly, monthly and quarterly price history of Litecoin using the chart above, we’ll briefly discuss the long-term price history. Originally listing for around AU$4, the price shot up to over AU$30 during the 2013 bull run. In the next few years, it slowly declined to under AU$2. Then, in April of 2017, it began rising rapidly and hit AU$90 in September. In the next few months, it rocketed to over $400, before falling back to around AU$40 in the following 12 months. Then, in the early 2021 bull run, it again reached over AU$400. While its price movements have been volatile, they have steadily grown to a higher base over time.