Litecoin has won the admiration of thousands of cryptocurrency lovers. Its reputation as a useful blockchain project has given it an edge over many other digital assets. Similar to popular crypto projects like Bitcoin, Ethereum, or XRP, Litecoin can also be traded on crypto exchanges and brokers. Its transaction fee isn’t too overwhelming which makes it turn out to be a favorite of institutional investors.
We are pioneers allowing the buying/selling of cryptocurrencies since 2014. It operates securely, together with tens of thousands of customers, selling from small amounts (1€), up to the amount you need. Trading Litecoin, or any other cryptocurrency, requires meticulous planning and preparation. In order to be ready for the potential challenges of investing, you need to understand both the market and the asset. The Breet app eliminates unnecessary steps, offering speedy, secure, and automatic trading. With the option to easily access it on a mobile app or the flexibility of a web app, Breet provides the best trading experience.
Sell Litecoin in 4 steps
As for BYDFi’s part, the transaction is done within 2-10 minutes. Similar to Bitcoin, Litecoin is also open source and uses proof-of-work (PoW) to verify each transaction made within the blockchain. However, unlike Bitcoin, Litecoin’s supply is capped at 84 million coins. With the Breet app, all your Litecoin trading worries are over, as you can trust in its speed, security, and exchange rates worth the value of your Litecoin. There are finance laws and regulations that an exchange should abide by. This gives them extra credibility and shows they can be trusted in the eyes of the law.
- Litecoin’s price has been relatively volatile in recent years.
- With every subsequent advance in blockchain technology, it is the new entrants who appear more likely to challenge bitcoin.
- Compare crypto exchanges to find the lowest deposit fees, withdrawal fees and trading fees to maximize the fiat payout.
- Bit2Me is a company registered with the Bank of Spain under number D592 for custody services and sale and purchase of digital assets.
- The average number of transactions in this blockchain is rated in thousands daily, making it one of the most tradable digital assets.
The primary types of crypto wallets are digital walkers also known as hot wallets, and then physical wallets also known as cold wallets. Both categories perform similar functions, however, the difference lies in the convenience of their use. Digital wallets are easier to access and to make transactions with while physical wallets are more constricting.
These improvements made it a popular alternative, and LTC is still an attractive investment opportunity for crypto traders. Then we will send the payout to your bank account as soon as the crypto is received safely. Cryptocurrency is notoriously volatile, and Litecoin is no https://www.tokenexus.com/ethereum-exchange-where-can-you-buy-and-sell-eth/ exception. Huge bubbles can inflate and delate over very short spaces of time. Therefore, if you invest in Litecoin and come to sell it, there’s a reasonable chance that you’ll choose the wrong time. Ideally, you’ll want to sell when the value of the coin is at its highest.
While Litecoin hasn’t overtaken Bitcoin yet, it is steadily growing in volume and adoption. Yes, you can cash out Litecoin following the steps outlined here.
Is it legal to sell Litecoin for cash?
When comparing offers or services, verify relevant information with the institution or provider’s site. Litecoin has four times the supply of Bitcoin, with a cap of 84 million how to sell litecoin LTC. Litecoin also lowered the block generation time to just 2 ½ minutes versus 10 minutes on the Bitcoin network, making it a faster solution for sending and receiving.
- Playing wing-man to bitcoin might not be a great look for litecoin, but it’s better than being just another crypto.
- Coinhouse was the first platform to be registered with the French Financial Markets Regulator as a Digital Assets Service Provider.
- Bitstamp is a crypto exchange out of Europe, known and liked for its liquidity and security.
- Your trade might even be subject to lose if you aren’t quick enough to close your positions.
- BYDFi will show you accurate information on fees, costs, and the number of LTC coins you get when you place the order and execute the transaction.
- In today’s reality, where digital privacy is more important, Zero Knowledge Proof (ZKP) emerges as an innovator.
- Once you’ve confirmed the transaction, your Litecoin will be sold, and the proceeds will be deposited into your exchange account.
Between May and November 2020, BTC rose in value by 75% while LTC ‘only’ rose by 21%. If the relationship between the two prices has disconnected, then litecoin may be cast adrift. Litecoin’s position as one of the major cryptocurrencies is without doubt. Its position as being ‘second to bitcoin’ does pose as many problems as it does opportunities.