How to Buy and Sell Litecoin

Many Bitcoin Exchanges make it easy for users to buy Bitcoin and other cryptos online. One of the most popular altcolins among them is Litecoin when it comes to mass charm, market capital and the possibility of adoption.

You can buy and sell litecoin (LTC) in the same ways that you can trade BTC on Bitcoin of America’s online exchange.


Buy Litecoin with Cash at a Bitcoin ATM - View Litecoin ATM Locations

Buy and Sell Litecoin with Wire Transfer via Your Bank Account. If you get lost, follow the same instructions on how to buy bitcoin, but select LTC as the crypto you would like to trade.

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Litecoin Wallets

You will need a litecoin wallet to send and receive your LTC. Your litecoin wallet will need to be a separate wallet from your bitcoin wallet.

WARNING: DO NOT SEND LTC TO A BTC WALLET!

Wallet applications for mobile phones often carry separate wallet addresses for each individual cryptocurrency.

The Bitcoin of America wallet application supports both bitcoin and litecoin and can be downloaded for iOS or Android.

What is Litecoin?

Probably the most prominent feature of Litecoin is that it has potential and encourages self-confidence in the cryptocurrency community. Litecoin threw its full force behind the proposal for faster off-chain transactions and became the first to integrate it. So far if you go by the news, this digital currency can replace national currency by 2030 in many places. Now there are multiple places you can buy Litecoin such as a Bitcoin ATM or Bitcoin Exchange.

Enthusiast’s Viewpoint

Cryptocurrency en thusiasts who hold several coins have progressively highlighted Litecoin due to its rapid stride. Litecoin is favorable because of its fast speed in transferring the altcoins from a Bitcoin Exchange to a hard wallet such as a Trezor. Companies are paying attention to Litecoin’s fast developments on transactions and are increasingly implementing it to their ecosystems as well. The simplicity transacting with Litecoin can make e-commerce probably the most suitable for ownership establishments and shops like BTCTrip, Bitify, and Bitcoin shops. Few famous and massive e-commerce stores are taking Litecoin as a form of payment. People can pay for vacations, home appliances, as well as precious metals using their Litecoin. While local re-homing is motivating, retailers, exchanges, wallets and other facilities are also combining Litecoin with quite impressive figures. More and more Bitcoin ATMs are accepting Litecoin.

Market Player’s Perspective

In addition to the obvious benefits from the trading application, participants can benefit from this ecosystem because of growing ownership in e-commerce. As one of the leading cryptocurrencies, Litecoin is rapidly becoming a competitor for the best three places, even as the funding device. Bankex, a unique platform made to validate and also tokenize much more. Illiquid resources like real-estate and investment capital portfolios, is accepting Litecoin alongside Ethereum during the token purchase. Platforms such as Bankex unanimously acknowledge Litecoin simply because many clients will swap their cryptocurrencies with Litecoin whenever there is a deal pending. Crypto or such form of investments is of same importance today as compared to investing in shares and bonds. The fundamentals being that everything runs in a cycle. Litecoin is all set to make its way to the top three spots in the Bankex sale listing all due to its quickly broadening attractiveness and more transfer expenses. This currency functions both as an asset as well as foreign currency, which is a unique mixture that is potentially going to add life and strengthen longevity.

Moral of the Story

Litecoin so far has performed with very less unpredictability and at a constant trend, which makes it great for settlement, trading, investing, or even money-collecting. This is why more and more Bitcoin ATMs and Bitcoin Exchanges are offering this altcoin. Tech-savvy digital currency enthusiasts compare Bitcoin’s market capital to that of Litecoin and unanimously announced that it is underrated. Even so, along with much improvements made around the network, Litecoin may one day quickly evolve into the most authentic type of cryptocurrency. Having said that, it’s a worthy place for investment and may not be bad for people who dare to experiment.

What’s The Difference Between Bitcoin And Litecoin?

Over the past few years, public interest in digital currencies has increased dramatically. The public’s main focus has been on Bitcoin, which first came on the scene in 2009. In the past four years, Bitcoin has become the dominant name in the digital currency market. However, many other digital currencies are still at play. Among these other digital currencies rising to the surface, Litecoin, is beginning to draw more attention. Litecoin’s developers have stated that their main intention for creating Litecoin, was to create a “silver” to Bitcoin’s “gold”.

Generally speaking, Bitcoin and Litecoin have quite a bit in common. At the most basic level, both are cryptocurrencies. Unlike traditional currency digital currency relies on the integrity of the network itself, not a third party entity or central bank. So the idea for both of these cryptocurrencies is similar, but that’s about where it ends. Below you will find more information on some of the major differences between Bitcoin and Litecoin.

Different Algorithms

One fundamental technical difference between these two currencies is that they have different cryptographic algorithms. Bitcoin uses the long standing SHA-26 algorithm, while Litecoin uses a newer algorithm named Scrypt. The main difference between these two algorithms is the impact on the “mining” process of new coins. With both currencies, the process of confirming transactions requires considerable computing power. Miners allocate their computing resources to confirm other users transactions. In exchange for “mining” miners are rewarded with the unit of currency in which they mined.

Total Amount Of Coins

Another difference between Bitcoin and Litecoin is the total number of coins that each digital currency can produce. Litecoin’s network can accommodate around 84 million coins, whereas Bitcoin can never exceed 21 million coins. This may sound like a significant advantage for Litecoin, but it reality its effects may be negligible. The reason is because both Litecoin and Bitcoin are divisible into infinitesimal amounts. Users of both currencies should not have trouble buying low priced services or goods, regardless of how expensive the general price that a single coin may become.

Transaction Processing Speed

Technically speaking, transactions occur instantly with both Bitcoin and Litecoin networks, time is required for these transactions to be confirmed by network participants. According to data, Bitcoin averages confirmed transaction time takes about 9 minutes per transaction. Litecoin, on the other hand, only takes about 2.5 minutes. This time difference, could make Litecoin a more attractive digital currency for some merchants. Especially in today’s “fast” culture.

The Bottom Line

Bitcoin and Litecoin are considered to be the gold and silver of the cryptocurrency market. Historically, this dynamic and emerging market sector has shown that it can change immensely in just a couple months. It is important to become familiar with the currency that will be able to retain its stature in the coming years. Currently Bitcoin is leading the race and is considered to be the most popular digital currency ever.

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