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Customers can deposit funds through credit/debit cards, bank drafts, bank wires, and Interac e-Transfer. Transactions with credit/debit cards are instant, while those with bank drafts, bank wires, and Interac e-Transfer might take a day. Transaction fees for Interac e-Transfer and bank wires are 1.5% for transactions less than $1999. When the transactions are over $2000, the transaction fee is 0%. Credit/debit card transactions attract up to 6% for deposits, while bank drafts are free.
Getting Started
Opening a Coinsmart account will require your email address, password, and other personal information like your name and date of birth. Coinsmart offers a mobile app and a crypto wallet for investors. The Coinsmart referral program allows customers to refer their friends to the platform. When those individuals deposit up to $100 in their account, the user receives $15.
Bitbuy insures its digital coins using 1:1 insurance with Knox Custody. Customers can use the price calculator on the platform to see how much a transaction could cost.
Getting Started
Opening a Bitbuy account requires you to enter your email and password. Maker and taker fees on the express trade Bitbuy platform (the regular platform) are 0.5%. If you use Bitbuy Pro, the maker fees reduce to 0.10%, while taker fees are 0.20%.
Deposits
Interac e-Transfer attracts a deposit/withdrawal fee of 1.50%, while bank wires attract a fee of 0.50%. Investors can make deposits into their Bitbuy account using Interac e-Transfers and bank wires. Bitbuy offers Over-The-Counter (OTC) for customers trading more than $50,000. Bitbuy is a registered Money Service Business.
The Changelly platform only accepts 3 fiat currencies: Euro (EUR), Pound (GBP), and United States (US) dollars. Opening a Changelly account only requires your email address. The minimum trade pairs on Changelly can go as high as $50 for some cryptocurrency pairs. Investors need to get their own wallet to use Changelly, as it’s a non-custodial platform. Changelly doesn’t demand any commission for deposits or withdrawals.
Fees
Transaction fees on the Changelly platform are calculated according to a floating rate or fixed rate. The customer gets to choose whichever one they want to use. Apart from the regular Changelly platform for newbies, Changelly Pro is available for advanced traders. Investors that use Changelly Pro are charged withdrawal/deposit fees and maker/taker fees.
There is a 0.50% trading fee on the Netcoins website. Netcoins communication channels are live chat, email, and telephone numbers. Investors can fund their accounts with credit cards, Interac e-Transfers, bill payments, and wire transfers.
Regulation
Netcoins is registered as a Money Service Business. So, it’s not regulated by the Investment Industry Regulatory Organisation of Canada. So, Netcoin customer accounts don’t qualify for CIPF insurance.
Getting Started
The Netcoins platform supports USD and CAD as fiat currencie and uses BitRank and QLUE, which are blockchain forensic tools, as safeguards. Opening a Netcoins account requires your full name, address, utility bill, driver’s license, and other forms of identification.
Traders can fund their accounts via crypto transfers, Interac e-Transfer, wire transfers, or direct bank deposits. Opening an account with Newton requires undergoing a Know-Your-Customer (KYC) procedure.
Fees
Although Newton charges no deposit or withdrawal fees, its spread fees cover this. The spreads range from 0.67% to 1.00%.
Support
New users can use the Newton crypto blog to learn more about the platform. Customers with any issues can contact Newton’s customer support through their ‘contact us’ form, live chat, or Newton status page. Customers who use the live chat or status page options can get instant replies. Individuals who use the form will have to wait 24 hours for a reply.
Coinberry offers new users automatic Bitcoin purchases as they sign up. Coinberry is insured by Lloyds and protected by the Gemini Trust Company LLC. A minimum deposit of $50 is required to open an account on Coinberry. The trading fees on this platform are high and can reach up to 22.50%.
Getting Started
Opening a Coinberry account takes the user through the instant verification process. Here, they must provide their names, birthdates, government-issued identification, and other personal information.
If the instant verification fails, manual verification will require government-issued documents. Canadians must connect their credit card with a Canadian bank account before they can use it to fund their Coinberry account. The Coinberry trading fee for cryptocurrencies is 0.5%
Investors who wish to buy cryptocurrency worth more than $200,000 can use the much faster Shakepay OTC (Over-The-Counter) trading desk. Customers can only buy cryptocurrencies through debit cards and wire transfers.
Getting Started
Registration on the Shakepay platform requires your email, password, username, and personal information like your name and address. Other verifications like a selfie or document verification might be required for some users. The spread fees for Bitcoin purchases can go up to 2.26%.
Coinbase is the regular platform for new users, while Coinbase Pro is for experienced traders. Coinbase Pro offers advanced trading options like crypto-to-crypto trading and advanced charting. Educational videos are available on the platform. The Coinbase customer support channels include email, telephone, and live chat.
Fees
The minimum trade on the Coinbase platform is $2. Investors can expect a transaction fee of up to 1.49% for bank account and USD wallet transfers. Debit/credit card transactions attract a fee of 3.99%. Wire transfers attract a fee of $25 for outgoing transfers, and incoming transfers attract a fee of $10.
Storage
Customer funds are stored in cold storage boxes that are scattered around the world. New users have to submit a government-issued identification when they open a Coinbase account.
Binance isn’t as well-regulated as other exchanges
Extra Details
Getting Started
Customers can fund their Binance accounts using debit/credit cards, wire transfers, and bank account transfers. Credit/debit card transactions are conducted within minutes, while wire transfers and bank account transfers can take days.
Account Types
New users are to choose between an unverified Binance account and a verified Binance account. The unverified account requires just your email and password, while the verified account requires selfies, government-issued identification, and other identifications.
Unverified accounts are restricted in the transactions that they can perform, while verified accounts get complete freedom. The Binance mobile app is available for Android and iPhone users. Maker/taker fees are never high and can reach 0.1%. Binance has its own wallet, the Binance Trust wallet.
The Kucoin platform has 3 classes of cryptocurrency, where class A cryptocurrencies are the most popular coins. Class B cryptocurrency is made of lesser-known coins, and class C cryptocurrencies are rare coins. Maker/Taker fees for class A, class B, and class C coins are 0.1%, 0.2%, and 0.3% respectively.
Security
Kucoin secures its cryptocurrency in cold storage using the Onchain Custodian company. Opening a Kucoin account requires your email address, password, and phone number. However, higher withdrawal limits and other advanced features are locked till the customer undergoes the Know-Your-Customer (KYC) process. The Kucoin platform offers multiple options for customer support and the Kucoin mobile app is available for Android and iPhone users.
Users can use the Nexo credit card to purchase everyday items. Investments in Nexo’s native token can help investors outside the United States to rise in the tier system. Traders who are on the higher tiers of the Nexo tier system can enjoy perks like low-interest rates on loans.
Fees and Withdrawals
The commission for European Union (EU) customers who purchase cryptocurrency with a credit card is 1.49%. Non-EU customers pay 3.49%. Users can withdraw free of charge on FiatX. After opening a Nexo account, users have to perform a 2-factor verification as well. Users can contact Nexo customer support via online messaging, email, or live chat.
Uphold rewards traders who stake their cryptocurrencies on the platform. The blog section of the Uphold platform offers educational content to users. Uphold offers cross-asset trading, where customers can trade between stocks, cryptocurrencies, and other commodities.
Perks and Fees
Investors get a 2% cashback when they use the Uphold Rewards debit card for a cryptocurrency purchase. Investors get a 1% cashback when they use the Uphold Rewards debit card for a fiat currency purchase. Uphold has a low minimum deposit of $10. The Uphold fee spread for larger cryptocurrencies ranges from 0.8% to 1.2%.
The instant buy fees on the Cex.io platform can go as high as 7%.
Deposit
Customers can deposit funds into their Cex.io accounts using debit/credit cards and domestic wire transfers. Most customer funds on the Cex.io platform are kept in cold storage, while a few are left in hot storage. Cex.io is registered as a Money Service Business in Canada.
Getting Started
New users can register on the Cex.io website using their email address, country of residence, and password. However, this will only unlock the basic features of the platform. You‘ll need to go through a Know-Your-Customer (KYC) procedure and provide advanced information to increase your deposit/withdrawal limits.
Coinmama doesn’t allow for crypto-to-crypto transactions. So, investors that want to purchase cryptocurrency will have to convert their digital coins to fiat. After which, they can use the fiat currency to purchase the new cryptocurrency.
Accounts
The minimum trade on the Coinmama platform is $30 for purchases and $100 for sales. The Coinmama platform has 3 tiers of users: curious, enthusiast, and believer. Individuals in the curious tier are those who have conducted transactions under $5,000 within 90 days. Enthusiast is for those that have conducted transactions over $5,000 within 90 days. Believers are individuals that have conducted transactions over $18,000 within 90 days.
Fees
Transaction fees for curious, enthusiast, and believer are 3.9%, 3.41%, and 2.93%. The Coinmama support channels include a chatbot and a contact form on their website.
The minimum deposit on this platform is 1 CAD. The leverage on the Eqonex platform is up to 1:125 for futures. Commission for spot trades ranges from 0.01 to 0.09%. The commission for future trades ranges from 0 to 0.07%.
Resources
Free education articles and videos are available on the Eqonex platform for new users. Free airdrops of the Eqonex native token are available daily. Automated trading bots are available on the Eqonex platform.
Accounts
New users can choose between opening a personal Eqonex account or an institutional Eqonex account. Opening a new Eqonex account requires submitting your email address and verifying it. After that, the user would have to submit personal information like their address and valid identification.
95% of Kraken user funds are held in cold storage locations worldwide. Opening a regular Kraken account takes minutes, while the Kraken Pro account can take days.
Fees
Purchases made with a credit card on the Kraken platform attract a charge of 3.75% and $0.25. Purchases made through a bank account attract a charge of 0.5%. Trading fees for stablecoins are 0.9%, while fees for altcoins are 1.5%.
Getting Started
Opening a Kraken account requires you to provide your email address, name, address, Social Security Number (SSN), and other personal information/ 24/7 customer service is available through telephone, email, and live chat.
High trading fees for people without Cronos tokens
Extra Details
Perks
The Crypto.com platform has 5 prepaid debit cards. Among these debit cards, the highest card is the obsidian card, which offers 5% cashback. Customers can earn up to 10% interest on the Crypto.com platform. You can increase your interest rates when you stake more than 4000 Cronos tokens and invest in stablecoins.
Support and Fees
Crypto.com offers 24/7 customer service via email or in-app chat. Users can fund their Crypto.com account through USDC deposits and debit/credit cards. No transaction fees are charged for deposits made through cryptocurrency. Non-Fungible Token (NFT) creators pay a commission of 1.99%, the same as individuals that are reselling their NFTs.
No commission on trades; only deposits & withdrawals
Mobile app has versions for different phones
High security for user data
Crypto and fiat currencies (CAD & USD) used for trading
No minimum deposits
No demo accounts or training guides for practice
VirgoCX offers no investment programs
Extra Details
The VirgoCX Leverage for trading is in a ratio of 1:1. The VirgoCX online platform offers two trading screens: quick trade (for amateurs) and advanced trade (for experts). Traders can use the VirgoCX Over-The-Counter (OCT) trade desk for large transactions over $30,000.
Deposit
The VirgoCX currency exchange is available for investors that want to quickly change their currency into another. Registration on the VirgoCX online platform requires a Know-Your-Customer (KYC) procedure, which can be completed in minutes. You can fund your VirgoCX account through wire transfers and Interac e-Transfers.
Withdrawal
VirgoCX has no withdrawal fees for non-ERC-20 coins. The funds in VirgoCX are secured with a Secure Sockets Layer (SSL), 2-factor authentication, and Ledger Vault Security.
WonderFi mobile app available for investors on-the-go
Doesn’t offer native token, just a tokenized stock
WonderFi isn’t available in some provinces in Canada
Extra Details
The WonderFi stock is available on Canada’s NEO exchange under the symbol $WNDR. WonderFi allows investors to trade gaming assets, Access non-Fungible Tokens, decentralized finance assets, and crypto assets. Users can only connect one browser extension and one mobile wallet to their WonderFi account.
Deposit and Withdrawal
Users can purchase cryptocurrency on the WonderFi platform using their credit card or through a bank transfer. Investors can earn interest when they buy and hold crypto tokens in the ‘earn’ section of the WonderFi app. Transactions done using Ethereum tokens require both the sender and the receiver to pay network fees. Senders pay network fees when they transfer any cryptocurrency apart from Ethereum. WonderFi has no minimum funding requirements.
With AQRU Investors can earn interest on their savings accounts. The minimum deposit for cryptocurrencies is $100. AQRU charges a 0.35% commission on all crypto transactions.
Account
The AQRU mobile app is available for iPhone and Android phone users. Opening an AQRU account requires you to provide your email, password, and government-issued identifications.
Investing
Investors can diversify their investment portfolio by using the features in AQRU 10. The interest rates on the AQRU platform are not tiered, so they stay the same regardless of the amount. Although AQRU offers a savings account, you’ll have to fund it manually for your funds to accrue interest.
Learning how to sell Litecoin allows you to reap several benefits from one of the top cryptocurrencies in the market. Litecoin (LTC) is one of the first altcoins. It’s been around since 2011.
Today, the Litecoin blockchain is one of the largest global crypto-based networks after Bitcoin. Are you wondering how to sell Litecoin? Read about selling Litecoin through your wallet & a crypto exchange. Learn about market orders & more.
Selling Litecoin is easy. You can execute sales transactions on crypto exchanges, which are marketplaces for selling and buying cryptocurrencies. When choosing a crypto exchange, consider the fees charged, security, and whether it’s available in your country. You can also sell Litecoin directly from a crypto wallet. Litecoin can be sold for another cryptocurrency like Bitcoin or a fiat currency like CAD.
Litecoin has earned a favourable reputation since its formation. Many crypto enthusiasts even prefer it to the more expensive Bitcoin. In this article, we’ll walk you through how to sell Litecoin.
Pros and Cons of Selling Litecoin
When considering how to sell Litecoin, there are several advantages and disadvantages to keep in mind. They can guide you when deciding if LTC is the correct cryptocurrency to sell. The pros and cons of selling Litecoin include:
Pros of Selling Litecoin
Cons of Selling Litecoin
– Reasonable transaction fees – Highly liquid market – Simple to sell – Can be sold 24/7
– Second Rate Crypto – Possibility of Losses – Subject to taxes
Pros of Sellin Litecoin
Here’s some of the pros you can consider before you sell your Litecoin.
Reasonable Transaction Fees
Most cryptocurrency exchanges make selling Litecoin affordable. Most charge reasonable account trading fees, while others don’t charge any trading fees.
Highly Liquid Market
When liquidity for a crypto asset is low, it shows the market is unstable. However, when a market is highly liquid, it means the market is steady, and the price won’t fluctuate as much.
Litecoin markets are renowned for their high liquidity. This means that when you want to sell the crypto asset on any exchange, you can easily find a buyer. Therefore, the ability to exchange Litecoin quickly for cash or other coins makes this cryptocurrency ideal.
Simple to Sell
Litecoin is one of the easiest cryptocurrencies to sell. You don’t need a certification. All you have to do is choose a cryptocurrency exchange like Bitbuy, Shakepay, or KuCoin. Then create an account and undertake a simple process to verify your identity. Once your identity is verified, you can start selling Litecoin.
Can Be Sold 24/7
There’s more flexibility with selling Litecoin compared to stocks and commodities. Crypto markets operate 24 hours a day, seven days a week. The market will also always be active around the globe because of differing time zones.
Therefore, you can sell the crypto asset at any time of the day. And with automated trading software, you can automate the sale of Litecoin.
Cons of Selling Litecoin
Here’s some of the cons you can think about before you let go of your Litecoin.
Second Rate Crypto
Litecoin may always be a follower of Bitcoin in cryptocurrency markets. The crypto asset creates innovations that outshine Bitcoin. However, it may fall back to a follower once those changes are implemented with Bitcoin.
This might make supporters of Litecoin flock to Bitcoin, causing liquidity to decrease. Also, Litecoin is dubbed the ‘silver’ to Bitcoin’s ‘gold’. Therefore, it’s often framed negatively compared to the leading cryptocurrency.
Possibility of Losses
If you haphazardly sell your Litecoin, you may not recoup your initial investment. Therefore, take your time when selling Litecoin. Watch the crypto asset’s price and be sure to execute a trade only when you’re likely to make a profit.
Subject to Taxes
Cryptocurrencies are taxable in Canada because the CRA treats them as commodities. As with every other capital investment, you won’t be charged taxes when you hold Litecoin. However, you’ll have to report income or gains on your annual tax return when you sell the crypto asset.
You’ll only have to make a record in the year that you cash out or sell your Litecoin. Also, transfers from one crypto wallet to another that you own are not taxable.
How Much Does it Cost to Sell Litecoin?
While researching how to sell Litecoin, you may encounter specific fees charged by a cryptocurrency exchange. These fees are worth considering because they’ll help you choose a suitable crypto exchange for your needs. They include:
Account trading fees
Maker fees
Taker fees
Withdrawal fees
Spread fees
Some crypto exchanges charge account trading fees when you sell Litecoin. This fee can be a flat percentage. Or the crypto exchange can set a rate based on whether you’re a maker or a taker.
A maker is someone who adds liquidity to the exchange by placing an order that hasn’t been executed before. Maker fees are charged when you execute a limit order for a different price from Litecoin’s current market price. These transactions typically have lower fees.
Takers are those that reduce the liquidity of an exchange. This means they place an order on the exchange that’s been executed before. Taker fees are charged for market orders, but a crypto exchange can also charge the fee on limited orders. This will be the case if you set a price equal to the market price.
Several crypto exchanges will also charge a fee when you withdraw coins from their platform. These fees can rack up if you transfer your crypto to another exchange or a secure third-party wallet often. Therefore, consider an exchange that allows you to make a specific amount of fee-free withdrawals.
Also, some crypto exchanges may claim that they have zero trading fees. However, they charge a spread. So keep an eye out for that fee.
How to Sell Litecoin on an App
Learning how to sell Litecoin on an app is easy. Most apps (or crypto exchanges) make it simple for you to execute trades. You’ll have to make sure you have Litecoin on the exchange.
If you already have the cryptocurrency on an exchange, you can skip steps one to four. Head over to step five to learn how to sell Litecoin.
1. Choose an App
The first step when looking to sell Litecoin is to choose an app. Much like stocks, cryptocurrencies can be sold and bought on exchanges. These marketplaces provide you with an account to execute different orders, like selling Litecoin. Some crypto exchanges go as far as giving users access to futures trading and margin accounts.
Here are some of the best apps we recommend (some even give you a bonus when you join!):
Several exchanges (or apps) are available to Litecoin traders, including Bitbuy, Coinsmart, Coinberry, and Newton. Each app is unique in its own way, so these are factors to consider when choosing one:
Account trading fees and withdrawal fees. Look out for these two fees when researching cryptocurrency exchanges.
Trading volume. If there are no trades of Litecoin happening on an exchange, then it may not be worth it. You may end up selling Litecoin at a lower price than you intended. A high trading volume translates to liquidity, so you won’t have a hard time selling Litecoin.
Accessibility. Check that the crypto exchange is available in your country.
Security features. Crypto exchanges can be hacked, resulting in thousands of dollars in losses. Therefore, look into the security measures an exchange has in place. Alternatively, you can spread your crypto assets across multiple exchanges. This will ensure you don’t lose all your coins if a hacker breaks into an exchange.
Educational resources. If you’re new to cryptocurrency, go for an exchange with educational resources.
Customer reviews. Check out what people are saying about the crypto exchange. You can usually find customer feedback and information about a crypto exchange’s reputation on crypto forums.
Crypto Exchanges to Consider
Shopping around for a suitable crypto exchange can take time. Therefore, consider the following exchanges.
Bitbuy
Bitbuy is a Canadian cryptocurrency exchange. It boasts low fees, a simple user interface, and superior customer support. And Bitbuy supports several cryptocurrencies, including Litecoin, Bitcoin, Dogecoin, and Ethereum.
You can fund your account and withdraw your coins with a wire transfer or Interac e-Transfer. As for the account fees, they charge a flat fee of 0.20% for all buys and sells. To learn more about the exchange, check out our Bitbuy review.
Coinsmart
Coinsmart is another Canadian crypto exchange worth considering. It’s great for beginners, and it has several unique features. This includes SmartTrade, which allows you to execute cryptocurrency trades with the click of a button.
The platform offers various ways to fund your account, including wire transfer, Interac e-Transfer, and SEPA. Coinsmart provides instant account verification, 24/7 customer service, and the ability to trade the same day your deposit reflects.
They charge a Litecoin withdrawal fee of 0.001. And a trading fee of 0.20% for a single trade and 0.30% for a double trade.
Coinberry
Coinberry is also worth checking out when considering how to sell Litecoin. The platform is available to all Canadians, and it’s registered with FINTRAC, meaning users are protected from illegal activities.
They don’t charge withdrawal or deposit fees. However, they charge a spread between 0% and 2.5%. Also, they support Interac e-Transfer and wire transfer to fund your account.
Newton
Newton is another top choice for Canadians. You can buy and sell various cryptocurrencies, including Litecoin, Bitcoin, and Ethereum. The platform boasts instant account verification.
In addition, they cover the first $5 in network fees for every trade executed on the platform. Newton also doesn’t charge a fee to fund your account or to make withdrawals. For more information about the platform, read our Newton review.
2. Create an Account
Once you’ve chosen a crypto exchange, you’ll need to create an account. Most cryptocurrency exchanges require a valid email address or phone number and a secure password. You’ll then have to verify your email or phone number with the verification code sent to your device.
Upon verifying your details, you’ll have to agree to the terms and conditions. Then tap the ‘sign up’ or ‘register’ button to create your account.
3. Verify Your Account
Before you can sell Litecoin on an app, you’ll need to verify your identity through the Know-Your-Customer (KYC) process. This process is necessary to prevent fraud, tax evasion, and other illegal activities on centralized crypto exchanges. It involves submitting the following information and documentation:
Your name and country of residence.
A scanned government-issued ID that you upload to the system. Alternatively, the crypto exchange may only require you to enter your ID number into the form.
A copy of a utility bill or a bank statement. The name on the form and your ID must correspond to the name on these documents.
A clear selfie of yourself. Some exchanges may require you to hold up a piece of paper with your name and the current date. Others may require you to write a unique code on a piece of paper instead.
If you prefer to remain anonymous, you can skip the KYC process by signing up for a decentralized exchange. This can be either a peer-to-peer marketplace or Automated Market Makers (AMM). Bear in mind that it’ll be more complicated to buy and sell Litecoin on these platforms. It can also be riskier than using a crypto exchange that adheres to KYC protocols.
4. Send LTC to the App
Once your account is verified, you can sell Litecoin. Before you do so, make sure you turn on 2-factor authentication. It’ll make your account more secure.
You can easily send LTC to a crypto exchange from an existing Litecoin wallet or a broker. The crypto exchange will generate a unique deposit address for you. You’ll then enter the deposit address into your external Litecoin wallet.
Before confirming the transaction, make sure the address is correct. You can also send a test amount instead of a lump sum to the exchange if you prefer to be cautious. Once you’re ready to execute the transaction, choose a network fee. If you select a higher fee, your deposit will be processed faster.
The crypto exchange will confirm your deposit. This process can take anywhere between a few minutes and an hour. Upon confirmation of your deposit, you can look into how to sell Litecoin on the crypto exchange.
5. Sell LTC
Most crypto exchanges will require you to fill out an order form to sell Litecoin. Before you do so, you should determine if it’s the right time to sell. After all, you want to make a profit from the sale.
Check out Litecoin’s selling price on the app. Once you’re comfortable with the price, choose a selling method. Each crypto exchange offers various ways to sell Litecoin. The most common are market orders and limit orders.
Market orders involve selling Litecoin at the market price. Using this method, you may incur higher fees than executing a limit order.
Limit orders entail selling your Litecoin once it reaches your chosen price. This method carries lower fees than a market order. It’s the ideal method for selling Litecoin if you want to set the price yourself.
Note that you can sell Litecoin for another cryptocurrency, like Bitcoin or Ethereum. Alternatively, you can sell Litecoin for a fiat currency like USD or GBP.
Choose the amount of Litecoin you wish to sell with your preferred method. If you opt for a market order, you only need to select how much you want to sell, then confirm. However, if you use a limit order, select the amount of Litecoin you want to sell and set the price.
How to Sell Litecoin With a Wallet
Selling Litecoin with a wallet is similar to selling the crypto asset through an app. You’ll need to have a wallet with a crypto exchange. If you don’t know where to start searching for an excellent cryptocurrency wallet, look into Coinbase, Trezor, and Zengo. These crypto exchanges typically have an app that makes selling and buying Litecoin with a wallet easier.
Before executing a sale, you’ll need to fund your wallet with Litecoin. You can do so by creating an account with a crypto exchange wallet. Complete the necessary verification procedures, then purchase LTC.
If you already hold a Litecoin wallet with a crypto exchange, selling Litecoin is much more straightforward. All you have to do is:
Select Litecoin in your wallet
Locate the ‘sell’ tab or button.
Enter the specific amount of Litecoin you wish to sell.
Select the fiat currency or cryptocurrency you want to exchange the asset for.
Review the conversion rates, then confirm the transaction.
Note that each Litecoin exchange wallet has unique terms. For instance, ZenGo allows you to sell one cryptocurrency for another cryptocurrency. Whereas with Trezor, you can sell LTC for a fiat currency like CAD.
How to Sell Litecoin Conclusion
Figuring out how to sell Litecoin is relatively straightforward. For this reason and many others, people prefer this cryptocurrency to others available in the market.
You can sell Litecoin through an app (or a crypto exchange) or directly from your wallet. Before selling Litecoin, ensure you consider the transaction fees involved with selling. Thanks for checking out how to sell Litecoin.
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Deciding on whether a cryptocurrency is worth selling comes down to thorough research. Monitor the trends related to Litecoin in the market. You can look at the price of LTC to BTC. This will help you understand traders' behaviour and tendencies in the market.
To determine if LTC is a lucrative cryptocurrency to sell, you can also keep a trading journal. Take note of any insights related to LTC. The ultimate decision to sell Litecoin must be a strategic one. Otherwise, you may lose thousands of dollars.
Is It Easy to Sell Litecoin?
Absolutely! All you have to do is find a crypto exchange. These are marketplaces where individuals buy and sell cryptocurrencies. After creating an account and verifying your identity, you can sell Litecoin. If you have an account with a crypto exchange already, it’s even simpler.
Bear in mind that there are two common ways to sell Litecoin. You can execute a market order or a limit order. The former is ideal for selling Litecoin fast, but it carries higher fees.
Limit orders are great if you want to save on fees. However, the processing time may be slower.
Can I Sell Litecoin for Canadian Dollars?
Yes, you sell Litecoin for Canadian Dollars. You can use a crypto exchange app like KuCoin or Binance.
When Is the Best Time to Sell Litecoin?
The best time to sell Litecoin varies from person to person. For some, it may be ideal to sell LTC to capitalize on gains or avoid losses when the price is highly volatile. Others may consider the best time to sell Litecoin when they want to have another cryptocurrency in their portfolio. It's also best to sell Litecoin when you want cash for everyday purchases.
Should I Sell Litecoin Right Now?
Check out the price predictions for LTC before selling the crypto asset. You can find this information on your crypto exchange. Make sure you’ve also accounted for transaction fees before selling LTC.
What Influences Litecoin’s Price?
Several factors influence the price of Litecoin. These are often similar to the factors that influence Bitcoin’s price. This includes:
Integration in the industry. The more people become comfortable using crypto assets to pay for goods and services, the more favourable LTCs price. Therefore, if a leading company adopts cryptocurrency as payment, there might be a price spike.
Litecoin supply. The more Litecoin available in the market, the better the value of the crypto asset.
Bad media reports. If there's negative news related to Litecoin, the cryptocurrency's price will be influenced. Also, any general bad press surrounding other cryptocurrencies affects the price of Litecoin. Therefore, the more favourable public perception of LTC has, the better the value.
Bitcoin's price. If the price of Bitcoin increases, it's likely that the price of Litecoin will too. The reason is that cryptocurrencies share a close price relationship. They also have similar building blocks.
What Is Litecoin’s Ticker Symbol?
Litecoin’s ticker symbol is LTC.
How Will I Receive My Funds When I Sell Litecoin?
When it comes to selling your cryptocurrency, you have a few different options. The most common method is to simply withdraw the funds to your bank account. However, some exchanges may offer alternatives, such as PayPal or direct deposit. Each method has its own advantages and disadvantages, so it's important to compare your options before making a decision.
Earn Crypto Bonuses
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