Having a certain amount of Litecoin at your disposal allows you to perform exchange transactions, including the purchase of the world’s most famous digital asset – Bit Coin. The question is how to organize the transaction, so as not to miss out on the benefits and reduce the cost of time and nerves. But the most important thing is to ensure security. You must be sure that when exchanging LTC for Bitcoin, unauthorized persons will not be able to take possession of virtual assets, and for this you need to take care of finding a platform in advance. First, you need to decide how to exchange Litecoin (LTC) for BTC more reliably, and secondly, compare the terms and conditions of different platforms.
What can go “wrong” when exchanging LTC for BTC?
Although the Litecoin (LTC) cryptocurrency has many advantages, starting from the speed of operations, ending with support for SegWit and Lightning Network, BTC is still the best asset for the realization of long-term investment strategies. The popular coin is acquired for various purposes, but not always transactions go as planned:
- The declared amount of Litecoin is debited, but Bitcoin is not credited. This happens if the portal is created by fraudsters with the purpose of appropriating other people’s assets. When you enter your wallet number and confirm the transaction, Lite Coin is sent to third-party accounts without traceability.
- The speed at which the transfer takes place is significantly different than expected. In some cases, you have to wait several days or even longer for LTC to be transferred to BTC.
- The size of the commission is higher than expected. This problem is characteristic mainly for clients of cryptocurrency exchanges, where the cost of the service of exchanging Litecoin cryptocurrency (LTC) to BTC is not specified in the application. That is, if you did not find out the commission in advance, you will get much less Bitcoin cryptocurrency on your account than you expected.
The right approach to organizing a transaction
If you have Litecoin cryptocurrency (LTC) and wish to make an exchange for Bitcoin safely, you need to act as follows:
- Determine how many coins you intend to exchange.
- Decide on the preferred method of exchange. In terms of speed, ease of transfer and convenience of use, exchangers are the invariable leaders.
- Conduct a comparative analysis of services. It is necessary to find out what commission the platform sets, there are limits on the amount and number of transactions, whether it is necessary to register. In fact, there are a lot of evaluation criteria, so it is not advisable to engage in comparison on your own.
- After determining the platform, read the terms and conditions of the user agreement, so as not to find yourself in an unpleasant situation.
- Enter the transfer amount and wallet number without errors.
- Just in case, take screenshots of the screen when notified of the exchange.
With the help of the BestChange portal you can much faster decide on the choice of a suitable site. The ready-made rating allows you to choose a service with really the best conditions, without going into details and saving precious time.
