Bitcoin is a digital currency that has the potential to replace the US dollar as a global reserve currency. Bitcoin is a phenomenon that cannot be prohibited, stopped and controlled. It cannot be “thought back”, it already exists. Bitcoin is the path to your personal financial independence and security. This is a new saving technology.
The Litecoin cryptocurrency (LTC) was developed in 2011. In this project, the developer tried not only to preserve all the advantages of the Bitcoin cryptocurrency, but also to strengthen them, to eliminate the existing errors. Within 2 years after its inception, Litecoin was rightfully considered the main reserve digital currency after Bitcoin. And in 2016, it became the second most expensive and significant cryptocurrency, overtaking many existing altcoins.
Litecoin is one of the forks of Bitcoin and has a free open-source algorithm that is developed under the MIT / X11 license. Still, Litecoin is significantly different from Bitcoin.
The cost of bitcoin and litecoin is determined by exchanges and depends on the popularity of the use of cryptocurrencies in calculations by the real sector of the world economy or the investment-speculative sector. An outstripping growth rate of Bitcoin over Litecoin will lead to a decrease in the DKB rate, and vice versa, a more active dynamics of the Litecoin price over Bitcoin will contribute to the growth of the Litecoin rate over Bitcoin. If you want to convert ltc to btc it is necessary to know how it should be done.
Exchange or exchanger?
For beginners, the first acquaintance with the cryptocurrency industry is better to start with exchangers. The interface of any exchange office is built in such a way that it is difficult to make mistakes when working with it. Working with exchangers is based on basic steps:
- select the exchange direction;
- the amount you want to exchange;
- enter the required data into the requisite.
Then the money is automatically transferred to your wallet. However, any exchanger has a certain percentage for the transfer of funds.
As a rule, exchanges have a lower percentage than in an exchanger, but they do not provide such a wide range of functionality and capabilities. Conventionally, when working with an exchanger, you will pay a slightly higher percentage for features and convenience, do not overpay for a high rate. Most often, the exchange rate already includes a commission. As we said above, the size of the commission differs on different sites.
Three options are possible:
- fixed commission (less common);
- percentage commission (depends on the volume of the transfer);
- both fixed and percentage (the minimum fee is set, however, for large transfers, a percentage is charged.
Many exchangers have loyalty programs. For example, discounts or bonus programs for regular customers, etc.
Be smart about working with an exchange service. Study all offers on the market in advance to find a profitable course and conditions that suit you. If the first operation leaves a good working impression, try to make an exchange on this platform in the future. This way you can receive pleasant bonuses and discounts on operations.