How to Exchange Litecoin to IOTA on Swapzone?
The cryptocurrency market is full of many developing and upcoming projects. The majority of these projects are designed with the aim to make cryptocurrency activities and transactions accessible and easy. Popular crypto that’s on the path to do it is IOTA, a distributed ledger designed for the Internet of Things (IoT) sector.
If you are interested in investing in IOTA but aren’t sure whether you should still keep your Litecoin holdings, then you came to the right place. In this article, we will take a look at what IOTA is, the differences between IOTA and Litecoin, why you should exchange LTC to IOTA, and how you can do so with the best rates. With that said, let’s dive in!
What is IOTA?
IOTA is a scalable distributed ledger that records and also enables seamless data transfer between humans and machines within the IoT network. Unlike other crypto platforms that use blockchain technology, IOTA uses a unique technology known as “Tangle.”
What makes Tangle unique is that it’s a blockless technology that doesn’t depend on blocks, miners, or even chains. Instead, it uses DAGs (Directed Acyclic Graphs) to validate transactions, therefore, making them more efficient and faster.
Additionally, instead of having nodes validating every single transaction within the network, nodes in the Tangle network validate two previous transactions instead of a block. IOTA’s native token is known as MIOTA. Users utilize MIOTA to carry out transactions over the Tangle network. Currently, you can find MIOTA on major crypto exchange platforms such as Gemini, Huobi, eToro, HitBTC, and others. Additionally, you can easily swap out another crypto for MIOTA via Swapzone.
LTC vs IOTA
If you are wondering which cryptocurrency takes the crown in the IOTA vs Litecoin battle, then stick around. The table below highlights some of the major differences between IOTA and Litecoin.
27TH November 2015
7th October 2011
Proof of Work
$5 on December 19th, 2017
$410 on May 10th, 2021
|Volume (24 hours)||
Why exchange LTC to IOTA?
Although Litecoin has an awesome developer team behind it, it has lost a lot of its credibility over time. For instance, in 2017, Charlie Lee sold all his Litecoin holdings when prices were at an all-time high which made a lot of people question his move. Additionally, the announcement and removal of their LitePay service also didn’t go down well with a majority of Litecoin users. Moreover, a study published in 2018 revealed that Litecoin was the 2nd most used crypto on the dark web. Not to mention, the fact that the top 100 Litecoin wallet addresses own 43.29% of Litecoin.
Therefore, it’s actually better to exchange LTC to IOTA due to the following reasons:
- Reduced Transaction Fees
IOTA utilized a system where the rate of transaction increases as more users utilize the platform.
- Free Micro-Payments
IOTA allows for smaller transactions to execute with transaction fees being near zero or sometimes fee-less.
Unlike traditional blockchains, the IOTA network provides an excellent alternative with reduced cost requirements.
As stated earlier, a few Litecoin addresses own almost half of Litecoin. Therefore, this creates a potential problem if these addresses decide to dump their Litecoin holdings. IOTA is fully decentralized and there is no risk of a majority of users tweaking the platform for their own personal gains.
How to exchange Litecoin to IOTA?
If you are wondering how to exchange Litecoin, the first step is to find an LTC to IOTA exchange. Fortunately, Swapzone supports the IOTA Litecoin pairing, therefore, you can easily exchange LTC to IOTA without any hassles. Below is a step-by-step process of how to do it:
Step 1. Open Swapzone website.
Step 2. Look for the “select pair” tab and select the IOTA Litecoin pairing.
Step 3. Enter the amount of Litecoin that you wish to swap for IOTA in the “send” section. Swapzone will provide you with a list of different offers with the best exchange rates. Simply go through them and choose the offer that you want.
Step 4. Select the offer you find the most suitable and hit “exchange”.
Step 5. Enter your details and double-check to ensure they are correct. After, simply click on “proceed the exchange” to start the process.
Step 6. Wait for the process to complete.
Step 7. Once the process completes, you will receive a deposit into your crypto wallet.
Step 8. Take a moment to rate the exchange partner so that we can improve our service.
FAQ about exchanging LTC to IOTA
Is IOTA Better than Litecoin?
These two cryptocurrencies differ greatly in both their features and the industries they intend to disrupt. As to the question of whether IOTA is better than Litecoin, it depends on your personal opinion and what you are looking for. The values of both cryptos can increase and decrease depending on market demand and overall adoption. Therefore, before making an investment, it’s always best to conduct your own research.
What is the Real-Time LTC to IOTA Exchange Rate?
To find out the real-time LTC to IOTA exchange rate, simply head on to Swapzone and open the website. Enter the amount of LTC you wish to exchange for IOTA. You will be provided with a list of real-time exchange rates of different exchange providers.
Why Is Swapzone the Best Place to Exchange LTC to IOTA?
Swapzone is the best place to exchange LTC to IOTA as it offers you only the best deals. You have the flexibility to pick an exchange rate that you desire from the different options provided. Additionally, the web interface is easy to use and absolutely free. And if you are having difficulty using it, there are a lot of useful tutorials available on Swapzone.