How to Exchange Ethereum to Litecoin at the Best Rates?
Litecoin (LTC) is seen as the first altcoins to achieve a great degree of success. The coin when it was released in 2011 motivated several developers to join the bandwagon of those trying to launch new types of blockchain by modifying the code of Bitcoin. Litecoin was not the only one to copy and modify the code of BTC. However, it is one of those with a higher significance historically in the market.
Litecoin is not a unique altcoin in terms of achieving a great degree of success; we also have Ethereum that is considered a very successful cryptocurrency. That is why we have decided to discuss both ETH and LTC in this piece.
What is Litecoin (LTC)?
The LTC crypto is built to offer a secure, swift, and cheaper payment system by exploiting the blockchain network. LTC is based on the Bitcoin network, however, with key differences after some modification was done to the Bitcoin’s code. Litecoin has a different hard cap, hashing algorithm, block time, and other features that set it apart from BTC.
LTC was launched on October 13, 2011, through an open-source client on GitHub. Five days later on October 18, the Litecoin blockchain went live, and ever since then it has gained a huge following and acceptance among merchants. Now, the coin is among the top 20 cryptos in the world in terms of market cap.
Litecoin is the creation of Charlie Lee who is an ex-Google employee. His aim for Litecoin was for it to become a lighter version of BTC, something like Bitcoin Lite. So, it will have several features with similar properties to BTC but lighter in weight.
A shift away from the original
As indicated above, Charlie intended LTC to be a lite version of BTC even though it hosts some similar features to BTC. However, it is actually a shift away from the original. That being said, those familiar with how BTC works will have no problem figuring out LTC. Let’s take you through some of its features.
- Hard cap
The Litecoin software has put in place a hard cap of 84 million LTC for the Litecoin blockchain, which means there can be no more than 84 million coins in existence.
- Modified PoW
LTC utilizes a type of Proof-of-Work that is different from BTC PoW to allow miners to allot computing power for the mining process of LTC, create new blocks, and add them to the Litecoin network. In return, they earn LTC in mining rewards.
- Faster transaction time
For Litecoin, the transaction time is faster as transactions are processed in almost 2 and half minutes.
- Segregated Witness
Litecoin uses a technology called segregated witness, which was introduced in 2017 to help the Litecoin network add more transactions to every block.
Ethereum vs. Litecoin
In the Ethereum Litecoin debate, these are the main highlights of ETH LTC.
Both ETH and LTC process transactions faster than the pioneer cryptocurrency BTC and they are both available on popular ETH LTC exchanges.
Also, Litecoin is seen as mainly a transactional coin while Ethereum is more of both a transactional and utility coin.
Let’s look at the key differences between Ethereum and Litecoin
2 minutes 19 seconds
$4.5 (as of June 15, 2021)
No hard cap
Why exchange ETH to LTC?
The one you go for between ETH and LTC is entirely up to you. Traders will always have their preferences when it comes to exchanging cryptos like Litecoin and Ethereum. These preferences are part of the reasons traders will want to exchange their ETH for coins like LTC.
Another reason for swapping ETH to LTC will be to take advantage of the market shift if the LTC coin is starting to look bullish and making considerable gain in the market. You can expect traders to take advantage of this and start exchanging ETH to LTC.
How to exchange Ethereum to Litecoin?
To know how to exchange Ethereum to Litecoin, you will need a dependable platform like Swapzone that can show you how. When exchanging a coin for another, you are literally swapping them at an agreed price plus any transactional fees incurred. So, it is important to know you have a bankable platform like Swapzone that can facilitate the swap.
Swapzone acts as an exchange aggregator to bring all the best ETH to LTC rates in the market from different exchange partners. Further details on how to complete the exchange on Swapzone are provided below in this article.
FAQ about exchanging ETH to LTC
What is LTC crypto used for?
By leveraging blockchain, LTC is utilized for the transfer of funds from one user or business to another.
Is Litecoin better than Bitcoin?
Litecoin generates new blocks four times faster than BTC. A new block is generated in 2 minutes 19 seconds whereas BTC adds new blocks every 10 minutes.
Is Litecoin a good investment?
According to Walletinvestor, Litecoin is a very good long-term investment (1 year). You can expect an earning potential of +171.52% over 5 years with the price reaching as high as $595.856.
Why is Litecoin better than Ethereum?
Litecoin rewards miners more handsomely than Ethereum; miners on the Litecoin network are currently given 12.5 LTC as a reward for every block validation. Initially, it was 50 LTC.
Litecoin has shown that a layered network solution is possible on its blockchain as we have seen with the implementation of the Segregated Witness protocol (SegWit).
We can also put into consideration the possibility of a scarcity-induced value increase in the future due to Litecoin’s hard cap of 84 million coins. As we have with BTC, scarcity can help drive the value of the coin to an insane height. That is not a possibility that is feasible on the Ethereum chain.
What is the real-time ETH to LTC exchange rate?
As of August 16, 2021, the real-time exchange rate for 1 ETH to LTC is = 17.60 LTC.
Why is Swapzone the best place to exchange ETH to LTC?
How to get LTC coins? You can get LTC coins from Swapzone, which is an ETH LTC exchange aggregator for the best Ethereum Litecoin rates in the market. This positions Swapzone as the best place to get LTC coins. Now, let’s move to how to exchange Ethereum to Litecoin on Swapzone.
Step 1. On Swapzone, you can select the ETH LTC pair from the list of tokens then the site will pull up from all the ETH LTC exchanges.
Step 2. Go ahead to input the number of LTC coins you want to exchange then you can select the LTC exchange that suits you by clicking on the “exchange” button.
Step 3. Input the address where you want to receive the LTC crypto.
Step 4. There is also an option for a refund address, which is the address where the asset you are swapping will be refunded to incase of any issues.
Step 5. Click on the “proceed the exchange” button to carry out the exchange.
Step 6. Take your time to write a review and rate the exchange.
What are the other options to buy Litecoin?