In as much as Bitcoin (BTC) has proved to be the most popular cryptocurrency in the market now, there’s no hiding that other currencies seem appealing. Litecoin (LTC) seems to get much of this attention. So it is not surprising that many people are doing the BTC to LTC exchange in large numbers. Moreover, LTC has become too good to ignore as a long-term investment plan. Due to these underlying facts, we came up with this article to help you know how to convert BTC to LTC in the safest way possible.
Facts about BTC
Bitcoin is popularly known as a form of cryptocurrency that exists in a virtual space, and you can use it to buy products and services. It was first launched in 2009 and didn’t gather momentum until recent years. one can obtain bitcoins in three ways:
- They can be bought with real money.
- One can sell goods and services and, in turn, request to be paid using bitcoins.
- They can be created digitally using a computer through mining.
People value bitcoins more because the government or banks do not control them. Having also been backed up by many influential people like Elon Musk makes it more reliable. This kind of support has made the value of bitcoin rise in the recent past.
Facts about LTC
LTC is a peer-to-peer decentralized cryptocurrency and open source software project initialized under the MIT/X11 license. A central authority does not govern it. It was an alternative to bitcoins and was incepted in 2011 by a businessman known as Charlie Lee. As a breakaway from bitcoin, it also uses blockchain technology. It was originally aimed at enhancing efficiency in the ecosystem to facilitate fast crypto transactions.
Litecoin mining requires specialized algorithms to add new assets to the ecosystem. Miners have to show proof-of-work to add blocks to the system successfully. This way, there will be no issue with liquidity as you deal with this finance. Only 84 million Litecoin tokens are in circulation; you can get these assets on exchange and trading sites.
Where to do a BTC to LTC exchange
When it comes to where to do the BTC to LTC conversion, alligat0r has to come first in mind surely. Not only does it do the conversion, but it also scans for you the best conversion rates in the market. It also shows you the current trend in the crypto market to make an informed decision. The following are some of its added benefits:
- The smart rate technology scans for the best conversion rates in the market.
- There is no limitation to the number of tokens you can buy or sell.
- The exchange process is simple and does not require anything sophisticated.
- Information about the tokens is available in real-time mode.
- You can verify the results before executing the exchange.
How to exchange BTC to LTC
When converting the cryptos, the following steps are followed:
First, choose the token pair to be swapped to and from (from BTC to LTC).
- Indicate the number of tokens to be converted.
- Choose if you either want a fixed or float rate.
- Wait for the algorithm to search for the best conversion rates.
- You’ll then indicate the receiving wallet address to advance with the BTC to LTC transaction.
After being shown the amount of LTC, you’ll receive, confirm, and send the BTC to the destination wallet, and the alligat0r will execute the conversion.