Best and Fastest Ways for LTC to SOL Exchange
An increasing number of companies and individuals are starting to use cryptocurrencies for regular payments. Digital assets have become a popular financial instrument thanks to their privacy, speed, and transparency of transactions. Many crypto holders sooner or later face the necessity to exchange some currencies for others (or for fiat money).
There are a lot of options for bitcoin, but as altcoins are gaining momentum, experts admit that more and more customers are looking for a chance to swap some less popular coins. So, what to do if you need LTC to SOL exchange?
Where to Exchange Cryptocurrency?
There are several options for exchanging digital assets. It can be done via exchange services, crypto platforms, crypto ATM points. But statistics show that the exchanges are most often used. They are a simple and affordable tool for trading digital currencies. You can sell coins fast and almost without losses. What is the algorithm of the exchange?
- The client selects a service and registers (if it is required);
- Then, it is necessary to specify LTC in the “Sell” column and the amount to be exchanged and SOL in the “Receive” column.
- The service immediately calculates the result of the transaction and shows the final sum;
- The user receives an address where they will need to send their funds to and indicate the wallet for sending the exchanged assets;
- When the exchange service receives money, it processes the transaction and transfers funds to the user’s account.
The whole procedure usually takes up to half an hour. In some cases, the transaction is immediate. If it takes more, contact the technical support of the service and find out what is the reason for the delay. There can be several of them:
- The cryptocurrency network may be temporarily overloaded, requiring more time to fulfil all requests.
- If you made a mistake while entering the data, the cryptocurrency would most likely be irretrievably lost.
Average commissions for such services range from 1% to 10%, but it also may be higher in rare cases. As a rule, the service fee depends on a few things:
- The cryptocurrency that the user wants to exchange;
- Service reserve of a particular cryptocurrency;
- Type of payment system you use for receiving the coins.
All exchanges can be classified as centralized (CEX) and decentralized (DEX). CEX platforms are built on blockchain, require verification procedures, and have access to your assets. DEX platforms use smart contracts – they do not have an intermediary and are anonymous.
Main Things to Know About Litecoin (LTC) and Solana (SOL)
Litecoin was created in 2011 as a digital decentralized currency for making secure payments. Technically, LTC is a fork of Bitcoin, but the changes made to the code enables faster transactions. Litecoin is often considered a pricing currency – many exchanges offer altcoin trading against LTC.
Its circulating supply is $66,752,414; the maximum supply is $84,000,000.
The Solana project was launched in 2017. The goal of the Solana blockchain is to challenge the Ethereum blockchain by offering higher transaction speeds and lower fees. It follows the Proof of History (PoH) and Proof of Stake (PoS) algorithms. Different network nodes work independently from each other, but at certain times, they all synchronize with each other, allowing 50,000 operations per second. SOL coin trading started in April 2020 at $ 0.77, showing impressive growth in 2021.
The current supply is $272,637,428; the total supply is $494,519,162.00.
Best LTC to SOL Exchanges
Below, you will find the top 3 platforms to convert your LTC to SOL.
This platform was registered in 2017 in Shanghai and quickly became a viable competitor to similar services. Binance works both with crypto assets and fiat money. It offers 500+ cryptocurrencies to trade and the lowest trading fees in the industry – 0.1%. It is popular for its safety and transparency and has 3 levels of verification. The VIP status allows to further reduce the commissions. The platform has some transaction limits to take into account. You can withdraw a maximum of 2 BTC during 24 hours (100 BTC for verified users). Customer support is available 24/7.
Godex is a cryptocurrency exchange that offers 300+ cryptocurrencies to trade. The distinct feature of the service is that it is completely anonymous. There is no need to create an account and verify your personal details. It also offers fixed rates even in times of sharp fluctuations on the market. Besides, there are no restrictions on the site with regard to the amount of transactions and their frequencies.
To exchange LTC to SOL or other cryptocurrencies, use their convenient converter:
- select the pair you are interested in;
- enter the address of your wallets;
- wait for its completion;
- read the report.
Note that exchange works only with cryptocurrencies.
This platform for cryptocurrency purchase, sale, and margin trading was launched in 2013. By 2020, it entered the top list of most reputable exchanges in the world, reaching a trading volume of $1 trillion. It accepts traders from almost the whole world and does not demand a verification procedure. Currently, the platform serves over 5 million clients. The service offers 300+ cryptocurrencies to trade and a 0.2% commission. All customer funds are kept on cold wallets that have high protection. The service has applications for mobile devices, which makes it even more convenient.
Online exchange services remain the most popular way to exchange cryptocurrency. The choice is impressive. Go for the service with the most favorable rates and a variety of payment systems. Be sure to use a reliable platform to avoid scammers and losing money.