Storing your cash as Litecoins (LTC) is a wise movement world. This is due to the safety and anonymity of most cryptos’ decentralised blockchain system. Individuals and companies in various parts of the world are quickly adjusting to the digital currency trend.
However, Nigeria is not one of the countries making this adjustment. The country’s government banned the use of digital currencies in the country. This development has made it hard to change Litecoins to Naira in the country. So what do you do when you have already invested in Litecoins before or after the ban?
This article will enable you to figure out how to spend your Litecoins in Nigeria. Before we do that, let us understand what Litecoins is.
What is LItecoins?
Like Bitcoins, Litecoins is a decentralized digital currency that processes transactions on the blockchain. The altcoin was created by former Google engineer Charlie Lee in 2011. The advantage Litecoins has over Satoshi Bitcoins is that transactions are four times faster than Bitcoins. Litecoins has not gained the financial success its other rival cryptocurrencies have achieved in the past ten years. Even with the bad performance, a Litecoin is worth -N- 60,534.30; trading your Litecoin for Naira now is a good idea.
How To Change Litecoins To Naira: Prestmit
At the beginning of this article, I already stated that Nigeria is not a crypto-friendly country, and Litecoins is a cryptocurrency. So how do you change your Litecoins to Naira? Have no fear; there is a solution to our headache. All you need to do is create an account on Prestmit. When you open a report on the platform, you are entitled to a private working Litecoin wallet address to trade with whenever you like.
Send the Litecoins you want to change to your Litecoin wallet on Prestmit, then wait for three confirmations from the Litecoin network. You will receive the Naira equivalent in your Naira wallet. You can withdraw the cash at any time of the day from your comfort zone.
So if you were ever thinking of the best time to use your Litecoins, the time is now because Prestmit has made it easy to access Naira with the cryptocurrency.