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How to Convert Litecoin to Bitcoin on CoinSwitch

Posted by on September 2, 2019 in Stuff with 0 Comments

CoinSwitch is the best exchange to perform a LTC to BTC exchange.

Here’s why:

Usually, you should look for these 5 things in a cryptocurrency exchange and CoinSwitch goes above and beyond the usual requirements.

Reliable: Hackers often target cryptocurrency exchanges which is why you need to choose a platform that is reliable. Search the news to see if the platform you want to use has ever been hacked. If it has, did they offer any compensation? Most reliable exchanges will reimburse their customers in half or full.

Secure: It is not recommended that you keep your crypto coins on an exchange forever. So, you will need the best Litecoin wallets to store your holdings. You should ideally look for a platform that is integrated with your wallet or offers recommendations.

Transaction Fees: Some exchanges may have hidden transaction fees which means your exchange will end up costing you money instead of making you some. Look out for the fine print to avoid this.

Withdrawal Fees: Similar to transaction fees, some platforms have a minimum limit for withdrawal and ends up costing high fees for withdrawal.

Exchange Rates: This goes without saying but if you don’t find the best exchange rates what is even the point of the exchange? You want to look for an aggregator that compiles all the rates to allow you to choose the best one.

As mentioned earlier, CoinSwitch meets the minimum requirements and then some. So, let’s teach you how to convert your Litecoin to Bitcoin on CoinSwitch

  1. Find the best exchange rate: On the homepage, you want to input the amount of Litecoin you want to convert and the correct trading pair. The rate you see is by default the best rate. Currently 1 LTC = 0.007777 BTC.
  2. Choose the best offer: You will see a list of offers. The best one is marked Recommend and others are clubbed under ‘Other Offers’. Sometimes you may even find a limited time offer which makes sense if that particular coins is categorically volatile.
  3. Enter your Bitcoin wallet address: Next, you will need to input your Bitcoin wallet address. This starts with 1 followed by a string of letters and numbers. The next step is to send Litecoin to a wallet which is held by CoinSwitch. To make this transfer, you will need to scan the QR Code or manually enter the address in your Litecoin wallet. Once the transfer is done, the conversion will begin.
  4. Conversion: This usually takes 15 minutes but can take longer depending on the size of the conversion and the blockchain speed. Once the conversion has been successfully completed, you will get a transaction hash.

If you need to know whether you should hold on to Litecoin instead of converting it, you can refer to the current landscape which you can read about on CoinSwitch. CoinSwitch also has great customer service available 24×7 to resolve any issue you may face during the conversion.

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