Exchange Litecoin LTC to Bitcoin BTC at best rate

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. Bitcoin also offers stability and a large market that has been already existing for quite some time, especially because of the market being volatile.

Yet 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 on the exchange platforms with the best possible rates and high security.

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Buy Bitcoin with Litecoin

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, BTC and LTC can be exchanged one to another. However, let’s differ out some of the other similarities:

  • Same mechanisms
    It’s quite important to mention that both Bitcoin and Litecoin use the same consensus mechanism, which is Proof-of-Work. Shortly speaking it’s a mechanism where miners solve complicated computational puzzles to mine out the block and get paid for doing that. The mining itself was considered to be a quite democratic process, yet it shouldn’t (and can’t) be an easy process. Easy puzzles would quickly lead to very fast drainage of the entire crypto supply, in our case Bitcoin’s or Litecoin’s. Bitcoin and its structure have been thoroughly discussed. Despite their similarities, both BTC and LTC have their implications and various features.
  • The ability to convert LTC to BTC
    With that being said there’s another feature that should be mentioned — the ability to exchange Litecoin to Bitcoin and vice versa using cryptocurrency exchange platforms or by setting up a payment channel with another person that has the crypto that you want to get traded to. As long as both people have enough LTC and BTC, the trade can happen. This sort of trading is called an atomic swap and it doesn’t have any fees involved in it. Yet there should be another person that’s willing to trade for Litecoin or Bitcoin and they should have enough crypto to do it.
  • The usage of Lightning Network
    Not only this brings two currencies closer, but also the fact that they both started using the Lightning Network. However, there’re assumptions that using such a technology that allows faster transaction times for Bitcoin will lead to Litecoin becoming useless. But there’re also thoughts that such a feature would bring platforms closer, allowing more and faster transactions. But if no such a person has enough Bitcoin, it’d be better to use exchange platforms, all of which have different exchange rates, various exchange pairs and several different security methods, all of which can be compared to choose the best exchange platform with the most suitable exchange rates via Swapzone.
Best bitcoin exchange rates

Bitcoin Vs Litecoin

Just like Bitcoin, Litecoin uses blockchains, is a decentralized system and uses distributed ledger technology. But there are some crucial differences between Bitcoin and Litecoin.

  • Different hashing
    First of all — the usage of a different hashing function. Bitcoin uses an SHA-256 algorithm while Litecoin is based on a script (pronounced as ‘’ess crypt’’) algorithm, which is quite newer than SHA-256. The cruciality of this difference can be seen in the mining process — in both cases, there’s a need for computing power and in time. SHA-256’s puzzles considered to require a lot of processing power, which led to the rise of ASICs — Application-Specific Integrated Circuits. This rise led to the usage of more sophisticated methods in mining Bitcoins to increase efficiency, which simultaneously led to the fact that new-coming miners have a harder time establishing themselves. Therefore Litecoin’s greater purpose was to appeal for those who can’t mine Bitcoin because of the lack of computing power or because of the tremendously high competition.
  • Blocktime difference
    Bitcoin also has a longer blocktime than Litecoin does (comparing 10 minutes for BTC with 2,5 minutes for LTC). This point can be attractive for online shops, merchants and others. Because even though the transaction is instantaneous on both platforms the person would need to wait four times more for the confirmation of payment in Bitcoin than in Litecoin, but it can vary greatly because of traffic. Also, a person can always consider zero-confirmation transactions, yet the security of these is highly negligible, but generally, it works just like a bank card — the merchant or the store can see that the person buying the product has enough money and the money itself will be transferred right after.
  • The coins supply
    Also, the supply of coins that the currency can produce differs a lot — Bitcoin is able to accommodate only 21 million coins, while Litecoin has four times more of that number — 84 million coins. This point is a bit complicated because both currencies can be divided into really minute amounts. However, there are some drawbacks that can’t be overlooked. For example the existence of Orphaned blocks on the Litecoin platform. Such blocks occur when two miners mine out the block at the same time.
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Litecoin LTC to Bitcoin BTC price details

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’re 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 the 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 in the fairest way and the whole market is more stable.

Litecoin (LTC) to Bitcoin (BTC) anonymously

Shortly speaking all of the transactions are clear, yet it’s not clear to the point of tracking down one person if speaking of general transactions. However, every exchange platform is registered as a company and is obliged to follow the rules of the country it’s registered in. Which leads to different inspections in terms of the exchanges and/or suspicious transactions.

Bitcoin to altcoin exchange

Litecoin to Bitcoin without hidden fees

All of the exchange platforms have their bright sides and are willing to show them 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. 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.

How to get Bitcoin?

Swapzone accumulated all the convenience of a swapping service along with the best rate option and safety of the whole process of the exchange. There is no need using any supporting documentation, nor registration in the system.

To exchange Altcoins to Bitcoins with us is as simple as that:

  1. Go to Swapzone.
  2. Select the currency you want to exchange in the Deposit list.
  3. Select the currency you would like to have in the Receive list.
    You will see the best rates of our partners available for you in the next field where you just need to choose the most profitable one.
  4. Click the Exchange button to proceed. In the Exchange field enter the amount you want to exchange.
    You will then see the estimated value you are going to receive after the exchange. Please, note that the amount you see can be changed due to current rate fluctuation.
  5. Enter the recipient’s address. Make sure you have entered the information correctly. The exchanged currency you need will be sent to this address.
  6. Check the information once again. If everything is correct, push the button Proceed the Exchange.
  7. After that you will see the deposit address in the Top up field. You need to send the necessary amount of currency you want to exchange to this address.
  8. Allow the transaction some time to proceed and the Coins you need will be transferred to you!