Is it worth buying Litecoin? Isn’t it too similar to a Bitcoin? The answer is up to the person, but technically Litecoin has a better algorithm, has a smaller blocktime, but the popularity of Bitcoin is high and the coin itself is looked onto as some sort of a golden standard for other coins.
It might be too hard to acquire a Bitcoin, Litecoin might be seen as a good alternative, especially because both currencies are easily converted one into another. People can trade Bitcoin to Litecoin and vice versa using an atomic swap, or one person can exchange the currency to the one that’s needed at the best possible rates and high security.
Litecoin is a cryptocurrency launched in 2011 by a former Google engineer Charlie Lee and it was based on the same model that Bitcoin had. Therefore it can be said that Litecoin is also a decentralized open-source currency, similar to Bitcoin in some way. Firstly it was intended to be a supported coin for a Bitcoin, in terms of helping with the shortcomings of the latter. Yet over the years, it gained its spotlight because of its different notable features that will be discussed later on in this article. Just as any other crypto, LTC to BTC exchange is commonly addressed when looking at Bitcoin VS Litecoin in crypto trades. Now, let’s look at other similarities:
Just like Bitcoin, Litecoin uses blockchain, a decentralized framework with distributed ledger technology. But there are some crucial differences between Bitcoin and Litecoin.
The value of the currency is never static, even in terms of Bitcoin, and it’s been thoroughly discussed, just like the anonymity and the risks of hidden fees. Yet there are some crucial points that can affect the value of the cryptocurrency both on the platform and exchange platforms. These factors are the influence of the media and liquidity, to name a few. The first one is quite simple — if the media portrays currency in a bad spotlight, people won’t buy it and those, who already have it, will discard it as quickly as possible. The second one comes with the understanding of how accurately one cryptocurrency can be exchanged to another. That means that if the liquidity is high enough, the prices are established most fairly and the whole market is more stable, and this holds for Litecoin to Bitcoin exchange rates
Talking about how to convert Litecoin to Bitcoin, it happens in many ways. However, whether it can be anonymous is a different matter. For every exchange platform that is registered as a company. There is an obligation to follow the rules of the country it’s registered in, and cannot be avoided.
To exchange Litecoin to Bitcoin, each platform you can use has the bright side and will show it off, such as the best exchange rates and zero transaction fees. Yet, as it’s been mentioned before, if something’s too good to be true, then it isn’t true. People should consider some pitfalls such as hidden fees or wallet fees when they exchange Litecoin to Bitcoin. The first one can be disguised very well. Yet different services can help one to avoid spending more than they should, so does Swapzone, which helps to highlight different fees, establishes fast exchange speed, anonymity and also aggregates offers from many trustworthy partners.
Swapzone presents the convenience of a swapping service along with the best rate option and safety of the whole process to exchange LTC to BTC. There is no need to use any supporting documentation, nor registration in the system.
To exchange Altcoins to Bitcoins with us is as simple as that: