How to exchange Litecoin for Bitcoin
Here at ChangeNOW, we’ve come up with this extensive guide on your Litecoin exchanges! ChangeNOW, the best Litecoin trading platform out there, does not require you to set up an account and supports more than 160 currencies!
How to exchange Litecoin for Bitcoin in 4 easy steps:
- Choose your cryptocurrencies
- Enter the recipient address
- Confirm your transaction
- Make a deposit
Step 1. Choose your cryptocurrencies
First of all, go to the main page of ChangeNOW’s website and choose a pair of cryptocurrencies that you would like to conduct an exchange with. In our case, it would be Bitcoin and Litecoin. Then you should enter the number of coins that you want to exchange. A special calculator will estimate the number of LTC that you are going to receive. Now press Exchange.
Step 2. Enter the recipient address
Now you need to provide the address of the recipient. It is the address of the wallet that will receive the exchanged LTC. If you don’t have a Litecoin wallet yet, choose “Don’t have a crypto wallet yet?” and choose one from the list of services that we trust. Press Next.
Step 3. Confirm your transaction
Step 4. Make a deposit
When you have confirmed your information send your BTC to the address that ChangeNOW has generated for you. You can run a transaction with a QR code as well.
Step 5. Get NOW tokens!
Don’t forget to claim the NOW tokens that you have just earned! You can get NOW tokens after every exchange. NOW tokens can be used to get special exchange rates, accelerated support and many other nice features. NOW tokens will be sent to the ERC-20 ETH wallet address that you provide.
That’s about it! Hope you enjoyed this Litecoin guide from your favorite Litecoin trading platform. Stay tuned for more guides on our blog!
Best Litecoin trading platforms
BTC-e is one of the oldest cryptocurrency exchanges in the world. It was registered in 2011. Despite the fact that it is not as popular as, for example, Kraken, which appeared at the same time, this service is well suited to buy Litecoin.
The service is multilingual, it supports more than 5 languages. The most important advantage of BTC-e is the support of a large number of fiat currencies. It is not only the euro and the dollar, but also, for example, the Russian ruble. The platform offers a rather rare feature for both cryptocurrency exchanges – PAMM accounts. There is also a betting pool on BTC-e, where you can bet on the movements in the exchange rate of cryptocurrencies. Verification is optional.
As for the disadvantages, there is a relatively small number of cryptocurrencies. Only the most popular ones are presented, such as Bitcoin, Litecoin, Ethereum and some others. The interface is obsolete, the exchange has long needed an update. In addition, it was reported that BTC-e is paid attention to by regulatory authorities, so there is a possibility of sanctions.
Cryptonite is an exchange that started its work in 2014 and is registered in the UK. It is also not very popular among users, but it can be used to invest in Litecoin. The interface of the trading platform is quite simple, and even a beginner can deal with it. 13 languages are supported.
The registration process at Cryptonite is fairly simple and straightforward. There are no requirements for mandatory verification, so you can trade anonymously. The crypto-exchange works with fiat currencies, in particular, there are trading pairs with USD and EUR. There is a referral program for users, with the help of referrals you can get a good additional income. There are many ways to communicate with the technical support.
However, without verification, the withdrawal process is much more complicated. You will need to provide certain information. Another trouble faced by traders is the increase of the fees when withdrawing funds for unidentified users. In addition, some users consider the interface obsolete, the design of some charts may seem inconvenient.
Bitfinex is one of the most famous exchanges in the world. It was created in Hong Kong, its development was carried out by the same specialists who created the Tether stablecoin. The first transaction at service was conducted in 2012, which makes Bitfinex one of the oldest platforms in the world. The crypto-exchange is an international website, available in English, Chinese and Russian languages.
The Bitfinex administration pays great attention to security. In particular, two-factor authentication, a passphrase to confirm the transaction, and a ban on the open session function are available. Bitfinex has its own mobile application. The crypto-exchange also supports the possibility of working with fiat money. The trading account can be replenished with dollars. Bitfinex doesn’t have any withdrawal limits.
However, the trading platform has some drawbacks. The first of them is too high fees for USD replenishment. There is an option of crediting dollars, but because of too high commissions it is simply not profitable. On Bitfinex, you can buy only the most famous cryptocurrencies, including Litecoin. There are not enough altcoins.
BitMEX is a crypto-exchange, which has gained quite a lot of popularity in recent years. First of all, users paid attention to it because of margin trading and the possibility of using leverage, which allows to increase profits. It is worth noting the ideal reputation of the site, it has never faced large theft of cryptocurrencies or data leaks.
BitMEX has well-designed protection with the use of two-factor authentication and a number of other security measures. The exchange offers an adequate commission on the transactions. The developers have worked hard and created a guide for beginners, which will help to understand all the intricacies of crypto-trading. The trading platform supports several languages. A considerable number of tools for technical analysis are presented.
The main drawback of the service is the fact that all trading is conducted in Bitcoins, and the rest of the transactions are only derivatives. That is, the purchase of Litecoin is possible only in the LTC/BTC trading pair. In addition, users complained about not the most user-friendly interface.
The Bitstamp cryptocurrency exchange is one of the oldest and most famous in the world. It appeared around the same time as Kraken did – in 2011. The company is officially registered in Luxembourg and has branches in the United Kingdom and the United States. Well-known media such as Coindesk, Forbes, Reuters and others have repeatedly written about Bitstamp.
Bitstamp is one of the first crypto-exchanges that have managed to become completely legal. The trading platform has received a license for financial activities. The exchange boasts a large turnover, so its quotes are always close to the market rate. Users trust Bitstamp, so trading here is always active. The service supports global payment systems Visa and Mastercard, so the direct deposit and withdrawal are possible.
However, the advantage of full legalization generates a disadvantage – the need for mandatory user verification. Accordingly, there can be no anonymous trading on Bitstamp. The exchange supports a rather narrow range of cryptocurrencies, there are few altcoins on it.