Exchange Litecoin (LTC) with Lowest Fees
Litecoin is a cryptocurrency that is based on Bitcoin (BTC) source code. BTC is called “digital gold”, and Litecoin, in turn, received the designation “digital silver”. The coin was conceived as an alternative to the overloaded and slow Bitcoin network. The block size of Litecoin is four times larger than that of Bitcoin, the transaction confirmation rate is four times higher, and the coins themselves are issued two times faster than that of BTC. Litecoin, as one of the top 20 largest cryptocurrencies by market cap and an investment tool, might be considered by every crypto investor who wants to increase their capital in the long term. The best way to buy or sell Litecoin is to use an instant cryptocurrency platform. Changelly provides more than 400 cryptocurrencies that you can convert to Litecoin at the best prices on the market.
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How to exchange LTC
The Changelly team cares about the convenience of our customers, so on the site, you can get the desirable cryptocurrency at a fixed or floating rate:
- The fixed rate means that despite the market movements, the final amount will remain the same
- The floating rate means that the final amount will depend on the market conditions.
To buy/sell Litecoin on Changelly, you need to follow a few simple steps:
- Select the cryptocurrency you want to sell for Litecoin and choose a fixed or floating rate
- Enter your recipient address, and do not forget to check it twice, as the transaction is irreversible
- Done! Your coins will be credited to the specified wallet within several minutes.
Desktop
Use fixed or floating rates to convert Litecoin on Changelly at the best rates and with low transaction fees.
Mobile
Use the Changelly app to quickly and easily buy crypto on the go. Enjoy a fully functional cryptocurrency platform on your smartphone!
Don’t have LTC?
Don’t have any Litecoin? That’s ok! You can buy crypto on Changelly easy and fast. Use your bank card, Apple Pay, or a bank transfer to purchase digital currencies on our platform.
About
What is Litecoin?
Litecoin is an open-source software project launched in 2011, very shortly after Bitcoin. Just like other currencies of the same concept, operations are not controlled by any central authority. However, users quickly uncovered some of Bitcoin’s drawbacks, which needed to be addressed. The founder is Charlie Lee, who is a former Google engineer. Charlie Lee’s main idea was to develop a ‘Light version of Bitcoin’, which would work much faster and with a minimum fee. The blockchain has a limited total supply of 84,000,000 LTC. The current circulating supply is close to 70,000,000.
Consensus in the Litecoin network is achieved through the Proof-of-Work (PoW) algorithm, not much different than its predecessor. But some things were designed differently. Confirmation of completed transactions in this network is carried out using the Scrypt algorithm. Scrypt is a hashing algorithm, more well-known as SHA-256. It was introduced to keep CPUs and GPUs competitive because it is ASIC-resistance. But since then, Scrypt-capable ASICs have been developed, bypassing the initial imitations. Now, anyone can mine LTC.
The Litecoin blockchain was one of the first to have adopted SegWit. This process removes signature data from transactions, thus increasing their speed. With more space freed up, the capacity of the blockchain expands, and it manages to add more transactions to the chain within the same amount of time.
For the first six years on the market, the Litecoin price did not go past 10 USD. Then, during the “crypto boom of 2017”, its popularity and value started rapidly increasing. The coin finishes 2021 with a market cap of over 10 billion USD.
How Is the Litecoin Network Secured?
As with all PoW cryptocurrencies, the Litecoin core is secured by miners. They participate in the block validation process and make transactions secure. According to the founder, users don’t have to worry about 51% attacks because:
- Pools are well-distributed (largest 22%)
- Hashrate up 50x within a year
- High capital costs to attack ($322-761MM + ~$38-50k/hr)
The strength of Litecoin is its reliability and wide recognition in the crypto community. And despite such popularity, there haven’t been any major attacks. The network boasts a decentralized pool of participants. Taking into account the efforts of Litecoin developers, LTC is unlikely to suffer from these types of malicious network attacks.
What Makes Litecoin Unique?
Here are a few characteristics that make Litecoin widely popular:
- Strong persona behind the brand – While some founders choose to stay anonymous, Charlie Lee personifies the project and reassures that it can be taken seriously. He is active on Twitter, and users can always rely on the freshest news on his feed.
- High transaction speed – One confirmation takes 2.5 seconds, sometimes even less. This is a very impressive result compared to other major coins. Being four times faster than Bitcoin, a new block mined every 2.5 minutes, generating a reward of 12.5 litecoins for mining activity.
- Good entry point for beginners – Some people are apprehensive about Bitcoin due to price and, sometimes, security concerns. Litecoin is much more accessible not only from a psychological point of view but also in terms of the initial investment. This is a great option for anyone looking to get familiar with crypto activities.
- Not a competitor but a complement - Litecoin was never meant to replace Bitcoin. It was built to be a more practical and scalable medium of exchange. So, the Bitcoin-Litecoin link only strengthens both projects.
- Active community – The Litecoin community is very active, eager to discuss the upcoming developments and give advice to all members. The founder is personally involved in some of the discussions, providing a first-person, insider view on some of the issues.
What is the Litecoin exchange rate?
The rate against fiat or other crypto changes on a daily basis. So, if you want to stay up to date, look up the most relevant data on our website. At the end of 2021, the Litecoin price is around $153 USD. The asset is going through some turmoil, dropping more than half of its value since mid-year. It might be a good opportunity to buy at the low if you believe in the project’s future.
Can I exchange Litecoin for real money?
Yes, you can exchange crypto for fiat currencies at any time! We have many different crypto-to-fiat pairs, including USD (US Dollars), EUR (Euro), GBP (British Pound), JPY (Japanese Yen), GBP (British Pound Sterling), RUB (Russian Ruble), KWD (Kuwaiti Dinar), DKK (Danish Krone), PLN (Polish Zloty), KRW (South Korean Won) and SEK (Swedish Krona).
Just like with other cryptos, the full list of available options can be accessed at the top of the page.
Keep in mind that even though Litecoin is not considered a legal tender by governments and central banks, it still holds value. Digital money can be spent at online stores or used as a lending asset to earn interest. Many people also choose trading, which can also be profitable under favorable market conditions.
How to exchange Litecoin for cash?
If you want to exchange at the best Litecoin price, use the Changelly’s platform. Our instant exchange converts your funds to fiat and sends them to your bank account. Then, you can simply go to your bank’s nearest ATM and withdraw cash there.
If you have some coins left, you can donate them to Litecoin Foundation, a non-profit organization for transformative finance. It is dedicated to advancing and promoting blockchain technology for the good of society. And, of course, you can always spend LTC for online services or trading.
How to move Litecoin from exchanges to wallets?
The process largely depends on the exchange you’re using. Generally, you need to login into the blockchain exchange, open your balances, select withdraw and the appropriate currency + the required amount. Enter your wallet address in the destination field, and that’s it! In most cases, both exchanges and wallets have intuitive designs, so you’ll easily find your way around their websites and apps.
If the Litecoin price increases over time, you can move your funds back and sell your coins at a profit. But if you’re planning to keep them long-term, always withdraw your coins from exchanges and make sure you have the most trustworthy wallet on the market.