How to Convert Bitcoin Cash to Litecoin at the Best Rates?
Bitcoin is perceived as one of the most impressive innovations in the recent past. However, the exponential development of the network brought about issues not expected before. One of these issues that became a challenge for the network is scalability. Because of it, it led to the eventual creation of both Litecoin and Bitcoin Cash.
Today, Bitcoin Cash and Litecoin are two of the most popular altcoins to exist in the market. Litecoin launched in 2011, two years after Bitcoin, offering cheaper transaction fees and faster transaction times. Bitcoin Cash, on the other hand, launched six years later in 2017 as a hard-fork of Bitcoin. With that said, let’s take a deep dive into both cryptos, decoding the differences between them and learning to convert Bitcoin Cash to Litecoin.
BCH vs LTC
The battle between Bitcoin Cash and Litecoin has been a never-ending one. As reiterated earlier, both Bitcoin Cash and Litecoin were created to improve upon the shortcomings of Bitcoin. However, there are subtle differences between the two cryptocurrencies. These differences can be categorized into the following sections:
- Fees: Over the last year, the Litecoin fee has dropped to less than $0.01. Bitcoin Cash, on the other hand, has a consistent fee that hasn’t changed much over the last year. Only on a few occasions did the actual fee cost more than $0.01.
- Mining Algorithm: Bitcoin Cash uses the SHA-256 mining algorithm while Litecoin uses scrypt hash algorithm. Bitcoin Cash can therefore be mined through CPUs and GPUs. Litecoin, on the other hand, requires the use of an ASIC.
- Scalability: Litecoin’s block size is 1MB while Bitcoin Cash’s block size is 32MB. Therefore, Litecoin’s blocks are added every 2.5 minutes while Bitcoin Cash adds them every 10 minutes.
- Transaction Volume: The transaction volume of LTC is estimated to be about 20,000- 30,000 thanks to its fast block generation time. Bitcoin Cash, on the other hand, boasts of transactions anywhere between 10,000 to 40,000 on a day-to-day basis.
Why Should I Convert Bitcoin Cash to Litecoin?
There is a lot of talk in the crypto community on which cryptocurrency is the best between Bitcoin Cash and Litecoin. Some experts are of the opinion that you should convert LTC to BCH. Another section recommends converting BCH to LTC. In reality, both coins were created to solve some of the underlying problems of Bitcoin. However, Litecoin has consistently ranked in the top 20 cryptocurrencies making it a relatively stable altcoin compared to Bitcoin Cash.
Litecoin’s affordability and stability along with fast and inexpensive borderless transactions make it an excellent speculative investment vehicle. Additionally, it offers a lot of improvements such as lower transaction costs which means that you lose less money every time you initiate or receive a transfer. Not to mention, a Litecoin transaction takes about 2 and a half minutes to complete. Experts also remain bullish about Litecoin’s price in the immediate and long-term future as well.
How to Convert Bitcoin Cash to Litecoin?
To convert Bitcoin Cash to Litecoin, you require a BCH to LTC exchange that can help process your transactions. We recommend using Swapzone as your go-to Bitcoin Cash to Litecoin exchange. Here’s a step-by-step guide on how to do it:
Step 1. Open the Swapzone website.
Step 2. Search for the “Select Pair” tab and select the BCH to LTC pairing.
Step 3. Enter the amount of Bitcoin Cash that you wish to exchange for Litecoin. Swapzone will provide you with a list of the best rates for BCH/LTC coins from various exchanges. Simply pick the one that you want.
Step 4. Hit the “Exchange” button and provide a wallet address for where your LTC coins will be deposited to.
Step 5. Once you’ve entered your details, make sure that they are correct. If they are satisfactory, click on “Proceed the exchange.”
Step 6. Wait for your deposit to be processed and the exchange process to finalize.
Step 7. Your Bitcoin Cash to Litecoin exchange will finalize. Take a moment to rate the exchange partner so that we can gather enough information about the exchange for future improvements.
Is It Safe to Exchange BCH to LTC using Swapzone?
Yes. It’s definitely safe to perform a Bitcoin Cash to Litecoin exchange on Swapzone. This is because Swapzone is a non-custodial service platform. This means that Swapzone doesn’t control or manage any of the funds. Neither do they charge you for the transaction. Swapzone’s high TrustPilot rating means that they are trusted by the cryptocurrency community at large.
How Can I Get to Know the Current Exchange Rate of Bitcoin Cash & Litecoin?
It’s simple, just head on to Swapzone and open up the website. Enter the amount of Bitcoin Cash that you wish to convert to Litecoin. Swapzone will provide you with an aggregated list of different exchange rates offered by different exchanges.
Why Is Swapzone the Best Exchange Aggregator to Convert BCH to LTC?
Swapzone is the best BCH to LTC exchange aggregator as it provides you with the best exchange rate deals in the market. Not to mention, it’s absolutely free to use and offers a user-friendly intuitive web interface. The site is full of tutorials for beginners as well.