Litecoin (LTC) is one of the cheapest cryptocurrencies for transfers between wallets, and it’s therefore often used as a deposit method into crypto exchanges and platforms. If you want to know which crypto sites that accept deposits with Litecoin, then you are at the right place. See our top list below.
LTC was created through a hard fork from the main Bitcoin blockchain, and that is why it is usually compared to Bitcoin. The altcoin was released in 2011 and has managed to stick in the list of the top five cryptocurrencies by market cap. The transaction speed of this altcoin is much better than that of Bitcoin. On average, Litecoin transactions are completed within 2.5 minutes and it costs a fraction of what most other cryptocurrencies cost when used for transfers between wallets. Therefore, it’s a favourite deposit method for many and here is a top list of where you can deposit with LTC.
There are 20 crypto trading sites supporting Litecoin and 5 crypto casinos which support Litecoin as deposit method as seen in the toplists below.
Top 20 sites for buying, selling and trading crypto with Litecoin
This is the toplist with the best sites to buy, sell or trade cryptocurrencies through Litecoin. To learn more why a certain site is ranked the way it is, you can read our review by clicking the review button.
Buy bitcoin & crypto from a trusted exchange suitable for almost everyone.
A more complex crypto exchange for advanced users. Generally better exchange rates than the normal Coinbase app.
Buy Bitcoin and crypto instantly with Gemini.
The lowest trading fee among Decentralized Exchanges, only 0.1%.
A Great Non-Custodial Peer-to-Peer Crypto Marketplace, Supporting 40 Deposit Methods.
Trade With FTX Anywhere & Anytime.
One of the exchanges available in most places around the world, with among the lowest fees and among the best compatibility for transfers between various blockchains.
Buy bitcoin locally, with almost any deposit method. Local Bitcoins make crypto investment easy.
A DEX that supports both BSC, ETH and Heco.
Making crypto trading, staking and investing simple. Directly from an app.
Buy and sell cryptocurrencies easily. Coinbase App is where you can go.
One of the world’s largest cryptocurrency copy trading platforms.
Paxful got over 350 different deposit methods in order to get started with crypto investing.
Trade over 200 crypto pairs from one of the leading exchanges. They also got their own debit card for all users.
Bithoven support instant transfers, but is not user-friendly.
Gate IO can be your gateway to everything related to crypto – with over 1400 cryptocurrencies to trade in a safe, quick and easy manner.
Huobi is a global crypto exchange with Chinese founders, with lots of instruments and low transactions costs.
Try a better crypto exchange. Discover StormGain, you too!
Dex Trade allow users buying and selling crypto in a simple way.
Largest on crypto. Over 200 cryptocurrencies to trade, both currency exchange with a wallet, CFD trading, staking and much more.
We generally recommend using an exchange or platform with good track record, great reputation and positive feedback from its customers. The better option for you as customer, the better ranking we give them.
Top 5 casinos with support for Litecoin
Enjoy the best BTC online gambling at 7 Bit Casino.
Stake is a smarter and more rewarding crypto casino that can be enjoyed in most places around the world.
Dreams have no limits. Enjoy a fabulous crypto casino experience with a generous bonus & a wide range of deposit options.
CloudBet Casino offers a fantastic range of games & have lots of different crypto deposit options. The easiest method to bet with Bitcoin.
Horus Casino gives you more action and more fun thanks to 4000+ games, while having a top notch wagerfree bonus.
Summary
Litecoin is among the oldest altcoins, having been developed in 2011. It has been able to grow in popularity over the years and is now featured in almost all reputable crypto exchanges. Unlike Ether and Bitcoin, this Litecoin was developed to work as a currency for day-to-day transactions and is also great for storing value. Since it has a hard cap of 84 million coins, Litecoin is highly unlikely to experience an extreme drop in price.
Advantages
+Each coin can be divided up to 8 decimal places.
+The network uses the Scrypt algorithm to prevent miners from pooling together.
+There are many crypto sites that accept Litecoin.
+Its supply has a hard cap.
+Litecoin payments are processed fairly fast.
Disadvantages
-The network uses the PoW system and requires high levels of energy.
-There is currently no certainty on pricing.
-You may lose your money if you copy the wrong address.
-The creator of the token sold his coins in 2017.
-Lots of altcoins are faster than LTC.
What is Litecoin?
Litecoin works just like Bitcoin since the two blockchains use the same technology. It employs cryptography to enable the exchange of the altcoin. All transactions made using this cryptocurrency are recorded chronologically on a public ledger that is known as the Litecoin blockchain. Blocks containing transaction data are validated by miners, and these are in turn rewarded with the altcoin. This reward is halved every three years as this helps to maintain the scarcity of the token. The maximum number of Litecoins that will ever exist is 84 million coins, and at the moment, more than 75% of these are already in circulation.
Litecoin costs
A benefit of using this altcoin to make deposits is that it has very low transfer fees. On average, the network charges fees of about $0.03 or $0.04 per transaction. In comparison, Bitcoin transfer fees can go beyond $7.8. With Ethereum, you will usually have to pay transfer fees of about $20. You should remember that the transfer fees will increase or decrease depending on the congestion on the network. To minimize the transaction charges, you should avoid making deposits during media frenzies or bull runs.
Transaction speed for Litecoin
The transfer speeds of LTC are also very high, and this is one reason why it gained popularity in its early days. On average, the transfers will be completed in less than 2.5 minutes. While this is a lot slower than newer blockchains, it is still impressive when compared to Bitcoin and Ethereum.
Litecoin Deposits: How to do it?
+Sign into a crypto exchange and navigate to the payment section
+Then pick LTC from the available list of banking options
+Add the amount you want to deposit and confirm the payment
+Finally, you can complete the verification process, and the deposit will be completed.
Which are the main countries where Litecoin is used?
This cryptocurrency is mainly used in the USA, Canada, the United Kingdom, and other parts of Europe and Asia. Most people use it as an alternative to Bitcoin or simply because it’s way cheaper for transfers between wallets. Example: Say that you got crypto worth 0.2 BTC in one wallet with Gate IO, and you rather send it Kucoin. Then you can use Litecoin or Tether (USDT) through Tron blockchain in order to minimise transfer costs.
The coin can’t be used in countries that have a blanket ban on cryptocurrencies, and these include China and North Korea.
Can you withdraw with Litecoin?
Yes, you can make withdrawals using Litecoin. When making this transaction, you will simply need to provide your wallet address and the amount you intend to withdraw. You should note that the crypto exchange may have a fee for the withdrawal. Also, there may be a minimum threshold for LTC withdrawals.
Reputation of Litecoin
Litecoin is among the most popular cryptocurrencies. It was forked from Bitcoin in 2011 and shares many of the benefits of Bitcoin. It has also gained popularity because of its high transfer speed and low transaction cost. Any crypto exchange that accepts crypto deposits is almost guaranteed to accept LTC as this altcoin is ranked among the top 5 cryptocurrencies by market cap. This altcoin has a strong online community. On Twitter, the Litecoin page has close to a million followers.
Litecoin FAQ
Here are some of the most frequently asked questions about Litecoin, when used for transfers or as a deposit method.
Is it safe to use Litecoin for cryptocurrencies?
Yes, when making deposits with this altcoin, you will not risk losing your sensitive data. However, you should be careful to always use the right addresses as transactions cannot be reversed.
How do I set up Litecoin?
To use this payment method, you will first need to purchase LTC from a crypto exchange. You then need to set up your wallet and make the deposit.
Is Litecoin instant?
While this funding method is not instant, it offers very fast transactions. On average, your payment will reflect within 2.5 minutes.
When was Litecoin founded?
This cryptocurrency was developed in 2011 as a result of a hard fork from Bitcoin. The coin is extremely similar to Bitcoin and improves the network in several ways. For example, it offers faster transactions than Bitcoin, and the transaction fees are very low.
Where is the mother company based?
Like Bitcoin, this cryptocurrency does not have a mother company. It was developed by Charles “Charlie” Lee, a former engineer at Google, and uses an open-source code.
Does Litecoin only work on Apple devices?
No, this deposit method does not just work on iPhone and iPad devices. You can also use it on Android devices and desktop devices.
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