Litecoin was introduced a while back in 2011. Traders all over the world now favour the coin due to its relative stability and decent market price. Purchasing then selling the coin could very much prove to be lucrative to the holder, where there are now hundreds of facilitators of such. That said, this is a quick guide on how to sell Litecoin.
Quick guide on selling LTC on Binance
Binance is the most preferred crypto exchange in the world. One can sell Litecoin with just a few simple steps, given as:
- Signing in to the platform and creating a Binance account
- Verifying and securing the account
- Navigating to the Binance Fiat and Spot wallet and selecting LTC
- Entering the required amount and the intended currency
- Confirming the trade
- Making a withdrawal from the Binance account wallet
How to sell Litecoin for fiat
LTC can be sold quite easily, especially on exchange platforms. Users need only follow a few steps, as required by the exchange. That said, the following are some of the best facilitators of such trades:
Clearly shown above, Binance is the most favoured crypto exchange platform in the industry. They rake up millions in annual revenue, acquired from their massive supply of devoted and new traders alike. Nearly a thousand individual crypto coins are supported by Binance, Litecoin included. Among the trade options are the sell function, which one can make use of with outstanding ease.
This platform is operated from the United Kingdom, but expands its services to span the rest of the world, where just about anyone in any city can access it. It was developed and launched sometime around 2013. Since then, many cryptos have been added to its support library, with LTC among them. The coin can be purchased, placed under relatively safe storage, or put out for sale. The sale order can be made with other traders, or to the platform account itself. Either way, one will be able to cash out Litecoin.
This online crypto exchange comes with a couple of international regulations that see some countries being barred from entry. Be that as it may, their services are quite impressive, particularly regarding transaction fees and customer assistance. A petite crypto collection is supported by EXMO, one that happens to include LTC. The sell order is processed and executed promptly, typically reflecting in the intended fiat wallet within a few minutes.
Coinbase joined the crypto community a while back in 2014, coming in from the United States. Traders can find just about anything on the platform, where the operator does quite well to make it all inclusive and user friendly. A range of cryptocurrencies are supported by the platform, the likes of Bitcoin, Monero, Bitcoin Cash, Ethereum and, of course, Litecoin. To date, Coinbase is home to millions of crypto traders, who use it to purchase, sell or invest in crypto assets and coins.
One of the earliest facilitators of crypto trade, Kraken is in no shortage of experience, as it reflected on their overall ratings and recommendations on online forums and reviews. The platform was released for public use a while back in 2011, operated by developers from the United States. The Kraken main interface is nothing too special, but it is quite efficient when it comes to processing of transactions. A couple dozen crypto coins and tokens are supported by the platform, inclusive of Litecoin. Holders can easily transfer Litecoin to bank account, incurring relatively low charges too.
This is yet another good platform for selling Litecoin. Admittedly, their crypto count is quite low, where they support around 26 individual coins and tokens. Among these options are a couple of large cap coins, the likes of Bitcoin, Ethereum and Litecoin. Several fiat carriers are allowed by the platform, made that way for more convenience and relatability. The actual selling of LTC, or any other crypto at that, can be done with a few simple steps; opening a platform account and verifying it, intiating the sale order and its accompanying functions, then confirming the trade right there. All this is done on their easy to use and attrative interface, seemingly made for efficient trades too. However, transacting on or with the platform comes with a High fee cost.
Bitfinex is among the many online exchange platforms that support LTC and allow its trade in for fiat currencies. Most seems to be well within the platform, where it list quite a number of other international currencies, crypto and fiat alike. All these are circulated with rather impressive ease, regardless of the user’s experience with the art. Multiple transaction options are given, users of the platform can purchase LTC, invest in it, or even go on to sell it when it suits the. For those who encounter any problems on the platform, the operator provides a help line, presumably available at all times. Unfortunately, Bitfinex has been in turmoil of late, where they have undergone multiple breaches, coin and record thefts.
Selling LTC for cryptocurrency: short step-by-step guide
Those looking to sell LTC will be happy to know that they are not limited to fiat trades only. Rather, they can also swap in the coin for other crypto assets. The procedure for making such a trade is more or less the same as the one for normal sales, with only a few key differences. That said, here is a generalised guide on selling LTC for other crypto:
- Register with the chosen platform
- Verity the platform account, providing a viable supply wallet and details
- Secure the account with a password and standard 2FA
- Go to the account wallet and select the LTC to sell
- Run the Sell function, otherwise featured as the Convert function. Select the required crypto and enter the amount
- Confirm the sale, then withdraw the funds back in the platform’s crypto wallet
Things to consider before selling Litecoin
There are some factors that can affect one’s outcome with the sale of LTC. Some of the most prominent ones are:
- The Price of LTC on the crypto market
- The amount to be sold
- The crypto exchange of choice
- Current value predictions
Privacy and Security Tips
In order to keep funds and personal data secure, one should always use a fully decentralised exchange, as they do not hold or display revealing data. Another good measure would be to make use of a VPN, as it effectively obscures all traces left online. An appropriate password on accounts and wallets is also quite crucial, where an ideal passkey should be inclusive of different types of characters to make it complex, but not too complex to forget.
Most of Litecoin’s recognition came with its introduction, where it was the hard carp crypto after the initial Bitcoin. To this day, the coin’s price continues to experience slight but significant surges, making it an ideal investment for any full time trader or pastime hobbyist alike.
The abundance of exchanges online simply makes it possible for one to purchase any alternative currency with the coin. As such, we recommend any of the methods listed above for fast transactions.