Today the editorial staff of Btcnewsweb.com will acquaint you with all the basic and safe ways to sell Litecoin. This information is useful if you want to sell your investments in whole or in part or rebalance your portfolio by investing in other assets that currently seem more promising. Responsible attitude to the choice of platforms and services will allow you to manage your assets not only safely and comfortably, but also profitably.
Exchanges for trading cryptocurrencies are in many ways similar to classic exchanges where they trade stocks, fiat currencies, indices, etc. breaks and weekends. Also, there are fewer requirements for the personality of the trader.
On a cryptocurrency exchange, you can sell Litecoin both for fiat (now this opportunity is provided by the overwhelming majority of popular platforms) and for cryptocurrency. The operation is carried out by creating a trade order, which indicates the amount of the currency to be sold and (depending on the order type) the selling price. The resulting currency can be used for further trading manipulations or withdrawn to your own wallet.
Examples of exchanges where you can exchange Litecoin:
Read also: list of the best fiat exchanges.
2. Payment systems
Some of the popular electronic payment systems support litecoin and provide full functionality for managing this asset: buying from a card, from an external wallet or for cryptocurrency; quick exchange for any other supported asset; sale with withdrawal to the card and many others. At the same time, unlike exchanges and exchangers, where the commissions are approximately similar, in EPS the commissions for operations can vary quite a lot, so choose the option that is profitable for you, having carefully studied all the conditions.
It is not difficult to sell Litecoin through a payment system, but keeping it in this way is not the best choice, for this purpose it is better to choose a non-custodial wallet. But many EPS offer the ability to spend money using a debit card with automatic conversion at the rate.
Examples of electronic payment systems with the ability to exchange Litecoin:
3. Cryptocurrency exchangers
A cryptocurrency exchanger is a platform that makes it possible to exchange cryptocurrency for fiat or vice versa. The process is as simple and fast as possible due to the fact that the exchanger has reserves on its accounts for all available currencies and cryptocurrencies, as a result of which, immediately after sending the application, it creates a response payment according to the details specified by the user.
Litecoin, as one of the top cryptocurrencies (# 4 in terms of capitalization), is supported by most crypto exchangers. To make a transaction, you need to select LTC from the list as the given currency, and then select the payment direction in which you want to transfer the coins. For example, it can be Sberbank, Tinkoff, any VISA, QIWI, Webmaney, Yumani card. It is also possible to make an exchange for another cryptocurrency.
Examples of exchangers for selling Litecoin:
4. p2p exchanger
p2p (peer-to-peer) sites are called so because of their way of organizing user interaction. While in the previous version, the participants do not interact with each other, but only with the platform itself, which also stores all funds deposited into the accounts (if we are not talking about decentralized exchanges), in p2p systems the methods are completely different. Users transfer funds to each other directly. The responsibilities of the exchange are to control the integrity of the transaction and resolve conflict situations
p2p exchangers offer a wide range of payment methods. Here you can sell Litecoin for rubles, dollars, euros or any other world currency, using a bank card, electronic payment system, cash and many others. The main thing is to find a counterparty suitable for the necessary conditions.
Examples of p2p platforms with the ability to sell Litecoin (LTC) cryptocurrency:
5. Telegram bots
Bots working in the Telegram messenger are a convenient and, importantly, accessible to absolutely everyone without registration and verification, a method of buying or selling Litecoin and other digital coins. The Telegram functionality allows developers to create programs that automatically fulfill user requests for trading operations or inform them.
It is enough to open the desired bot in Telegram, launch it, and then follow the instructions – choose a payment direction, familiarize yourself with the offers for it and the exchange rate, enter the details for receiving, pay for the application that the service will create. After that, it remains only to wait for the response transfer.
First of all, cryptocurrency wallets are designed to store digital coins, but over time, the range of their capabilities is expanding more and more. This is facilitated by the demand from users who are comfortable making a maximum of transactions in the same place, without switching between a dozen applications and without losing commissions during transfers between different sites.
Thus, some litecoin wallets have connected the LTC sale service directly within the application. True, not everyone at the same time supports direct withdrawal to the card, but the exchange for cryptocurrency is already available almost everywhere. Therefore, it will not be difficult to choose a convenient option that will help you manage your assets as efficiently as possible.
Examples of wallets with the litecoin exchange function:
- Trustee Wallet (LTC withdrawal only to Ukrainian cards)
- Trust Wallet (exchange for cryptocurrency)
- Exodus (exchange for cryptocurrencies and stablecoins)
7. Crypto ATMs
Although there is a small number of cryptocurrency ATMs in the world, residents of large cities have the opportunity to find a Litecoin-enabled crypto ATM nearby. The services https://www.cryptocoinmap.ru/index and https://coinatmradar.com/city/1143/bitcoin-atm-moscow/ will help in the search.
To make an exchange operation, you need to have a cryptocurrency wallet installed on your phone, in which LTC is stored. On the ATM screen, select the desired cryptocurrency, then the “Sell” / Sell option. Enter the quantity. Transfer coins to the desired address using the QR code. Take a check.
Next, you need to wait for the confirmation of the transaction. To do this, it is not necessary to be near the cryptomat, the process can take up to several hours.
When the transaction is confirmed, go to the device with the check and select “Redeem check”. Scan the QR code posted on it. If everything is fine (that is, the system sees a confirmed payment), then you will receive cash in your hands.
Is it worth selling Litecoin. Expert opinions on the future.
It is believed that in the coming years, Litecoin may well compete with Bitcoin. The long bearish trend of 2018-2019 provoked a loss of interest in the cryptocurrency, but now the value of the coin has significantly recovered, although it is still far from the historical maximum. In the long term, LTC can become an even more valuable asset thanks to its improvements as a means of payment over BTC.
In order for Litecoin to rise to its maximum, a strong catalyst is needed. At the moment, this is not observed, since there is no reason to believe that in the next year or two, fiat currencies will be replaced by cryptocurrencies. However, there is another factor that can push the price – this is the launch of cryptocurrency trading on traditional stock exchanges, as well as their approval as a regulated class of financial assets in the United States and other higher jurisdictions.
Everything is very vague, but the following conclusion can be formulated: Litecoin is perhaps too risky to be considered a long-term investment, but its merits make it possible to consider LTC as a useful short-term or long-term trading tool, especially if volatility is used wisely.
To keep or sell Litecoin – everyone decides for himself. If you study thematic forums and analyze the opinions of users, you will notice that most people tend to hold. Much depends on the adoption of cryptocurrency in the world and fluctuations in its value. One way or another, now you know all the relevant ways to sell LTC and you can do it any minute. It is only important to find the right moment for the operation to be really profitable.