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How To Get Started With Litecoin and Frequently Asked Questions on Litecoin

sell litecoin for cash

Of all the oldest cryptocurrencies, Litecoin happen to be one of the most famous and widely known altcoins. As of today, it is ranked the 14th largest coin by market capitalization, with its entire worth well over $12.3 billion. Litecoin is an open source рееr-tо-рееr digital cash system similar to Bitcoin. Essentially, it was created to enhance and refine some of the imperfections of the biggest cryptocurrency in the world; Bitcoin.

Just as it has been with other cryptocurrencies, the worth of this altcoin has experienced erratic swings, since the year it was created, up till now. Drops in its value have been immediately followed by bear markets. Are you looking to invest in Litecoin in 2021 and you want to know if it is a good investment? Or are you just interested in knowing all about Litecoin? Are you a litecoin holder who wants to know what to do with litecoin? Or how to sell litecoin? How to buy litecoin? How to convert litecoin to cash? We have had people in Nigeria and Ghana ask how to sell litecoin for naira or cedis. Some have asked for the best site in Ghana and Nigeria to sell litecoin in 2021. This article will answer all frequently asked questions on litecoin.

Frequently Asked Questions on Litecoin

What is Litecoin (LTC)?

Litecoin was one of the first cryptocurrencies that started out. It maintains its position as one of the biggest coins in the digital market based on market capitalization. Litecoin can be found on crypto exchange. Litecoin can be used for buying and selling goods and services.

When Was Litecoin Created?

Litecoin was created in October 2011 by a computer scientist named Charlie Lee. It was designed to be a lighter version of Bitcoin with transactions four times faster at a very low fee of 5 cents.

How Does Litecoin Work?

Similar to other crytpocurrencies, Litecoin makes use of the blockchain technology to stay decentralized. Litecoin operates in a manner akin to Bitcoin. Actually, Litecoin was modelled after Satoshi Nakamoto’s Bitcoin protocol release.

Is Litecoin a Good Investment in 2021?

Regularly ranking in the top 15 cryptocurrencies by market cap could imply that Litecoin is a stable coin, when put together with other altcoins. Key advocates of Litecoin are positive that a surge in usage and interest will undoubtedly increase the value, which they claim has began. Litecoin’s value has risen more than Bitcoin’s on a percentage basis since last May. If you are looking to invest in a technology that allows speedy and lesser-cost indefinite transactions, Litecoin could be a good investment in 2021. It is affordable and stable, which makes it a great option for people looking to have an alternative cryptocoin.

See also: All You Need to Know About Altcoins

Where Can I Store Litecoin?

Just like your normal bank, before you can use litecoins, you need a way to store it. This is what a Litecoin Wallet does. To aid the process of getting a wallet, platforms such as Prestmit create a free litecoin wallet for you, once you sign up with them. With Prestmit litecoin wallet, even though it cannot be stored because they offer a strictly sell service, you can receive litecoins to your wallet in Nigeria, Ghana and other places in the world, easily.

Sell Litecoin On Prestmit 

Prestmit is the one of the biggest and top crypto exchange platforms in Nigeria and Ghana, that allow you sell Litecoin or exchange it to naira or cedis. Presmit is regarded as a highly recommended platform to trade cryptocurrency, as well as gift cards, in minutes and at good rates. Before you get started on trading your gift card on the platform, you are required to create an account on the website or download the mobile app and  register on the platform.  aOnce you are logged in, click the “BEGIN TRADE” or “START TRADE” button to sell your Litecoin.