If you have bitcoins in your Coinbase wallet, GDAX also exchanges Bitcoin Cash, Ethereum, and Litecoin. Go to GDAX and login with your information. At the top of the page click "Select Product" and. Jun 30, · Trading volumes can give you a crucial insight into a platform’s liquidity – and this will determine how easy it is to buy and sell LTC quickly. Litecoin trading strategies: Some top tips. You can learn how to trade LTC by embracing some of the most common trading . Sep 29, · Litecoin was designed to improve on many of the perceived failings of Bitcoin and to be the silver to Bitcoin’s gold. To this end Litecoin has a cap of 84 million tokens, this is in comparison to the 21 million capitalization used by Bitcoin.
How to trade bitcoin for litecoinTrade litecoin to bitcoin
Offering highly competitive spreads on a wide variety of trading investments. Pepperstone has won numerous industry awards for innovation and excellence in CFD Brokerage. Pepperstone is an Australian-based online ECN forex broker with some of the industries lowest spreads.
Also, scrypt is its proof-of-work algorithm, guarding it against ASIC mining even though a few companies have said they are going to shortly launch scrypt ASIC miners.
The Litecoin network processes its blocks faster than Bitcoin. The network can produce the total amount of 84 million Lite coins, as opposed to 21 million BTC on the Bitcoin network. Even if you think you know the risks, have done lots of investigation, and are still interested in entering the Litecoin market, there are still some potential problems you may have missed. This is hardly a shock given the infrastructure of Litecoin, which is lesser-developed.
One of the simplest ways to buy Litecoins is by purchasing them alongside Bitcoins — this also is the quickest and cheapest option for most users.
You might think the easiest way for buying Litecoin would be using a fiat wire transfer, in which you would use an exchange, yet this is an arduous process because some main Bitcoin exchanges, such as Coinbase and BTC China, do not currently handle any Litecoin transactions.
One of the most apparent advantages of using Bitcoin to buy Litecoin is expediency. Theoretically, this exchange should take only a few minutes. However, international wire transfers can take a number of days to process and clear, meaning you will potentially incur some additional expenses.
The limited amount of Litecoin exchanges ensures that a large segment of possible investors has to depend on international transfers to do business. An alternative to this process is to locally buy Litecoin and therefore, forego the inconvenience of having to wire money internationally and to convert it into Litecoin. Litecoin trading can be extremely profitable for all level of traders. Because the Cryptocurrency market is fairly new, highly fragmented as well as having huge spreads.
Arbitrage and margin trading are generally available. This gives you the added advantage of being able to act on your analysis of the future of digital currencies. Litecoin has become the leading competitor to Bitcoin, and now you can trade this impressive digital currency with some of the top online brokers. To learn more about Litecoin and other popular cryptocurrencies see our featured trading guides.
It can be difficult to know which option will work best for you. Here are a few things to keep in mind before deciding on the right Broker for your Litecoin trading:. The regulatory body develops rules and services protect the integrity of the market, as well as traders, and investors. Due to possible safety concerns, you should exclusively open accounts with regulated brokers. Cryptocurrency trading happens 24 hrs a day, so customer support should be available at all times. The details of a good broker should be out in the open for everyone to see, either online or otherwise.
An ideal broker for Litecoin trading should be able to offer clients multiple account options or provide an element of customizability. If you want to buy Litecoins it will, of course, cost money. However, unlike buying stocks or bonds, CFD brokers generally charge a percentage to buy Litecoin.
You may consider looking for a broker that charges a flat rate fee instead of the percentage model. Liquidity is the ability to sell without the price being significantly affected, causing the price to drop. For more information on cryptocurrencies, please see our tutorial: The Basics of Cryptocurrency.
How to Find the Best Trading and Investment Apps While it may seem intimidating to start stock trading for the first time, it can be quite simple and straightforward.
With … Read More. Social Trading Forex social trading is a social environment for active Forex traders to interact in real time. Having done your research on bitcoin , you may think it has peaked and that if you sell your coins now you'll make the best profit you can.
Maybe you're intrigued by a new cryptocurrency on the rise and want to trade some of your bitcoins for it, diversifying your portfolio of cryptocurrencies. Or you could just want out of the bitcoin game and have decided it's time to sell it all. Whatever your reason, there are ways to sell and trade bitcoin to fit your need.
That is what makes it so interesting to people in the bitcoin world: If you're not content to mine bitcoin , spend it or passively hold onto it in hopes that the price rises, you can treat it like it's a stock. If you're trading bitcoin futures, you can even incorporate bitcoin into the literal stock market! Of course, it can be a nuisance, too. Selling bitcoins can require being more involved than simply buying them on your phone.
And if you thought other stocks were volatile, risky and unpredictable, just wait until you spend an hour tracking bitcoin's rises and falls. The world of cryptocurrency trading is still pretty new. This article is not a recommendation to begin trading bitcoins. However, if it's something you have already decided you're interested in, it's important to know what you're getting into and how to go about bitcoin trading.
When discussing ways to invest in bitcoin , I mentioned bitcoin futures contracts. With these, you could essentially bet on the market and what the price of bitcoin will be in the future. These contracts are cash settled, and are certainly one way to trade bitcoin. There is also a different type of derivative that some prefer to use when trading: A bitcoin contract for difference, more commonly known as a CFD.
With a CFD, you once again invest in where the price of bitcoin is going, without ever needing to download a bitcoin wallet or deal with a bitcoin exchange and potentially fraudulent sellers. You trade instead in the value of bitcoin, going short betting the price will go down or going long betting the price will rise.
People who have succeeded using CFDs have often done so because they traded on the margin, paying a small margin requirement for full value. Should your instinct pay off and bitcoin's price goes the way you thought it would, that could mean a hefty return from that initial investment. But you'd better be right; the increased leverage of a small margin means that losses can become far more than that first investment. Another important aspect of CFDs: They are done through brokers.
You'll need to make sure you're working with a respected and trustworthy broker - one that can actually pay you should you be owed money. Trading bitcoin via CFDs is incredibly risky - even by bitcoin's usual standards of risk. The wrong move can turn into a crushing loss very quickly.
With CFDs posing such a risk, some may just decide it's better to own your own bitcoins. And those looking to trade it like stocks still have plenty of options. Bitcoin is nearly a decade old now, and in its wake are hundreds, if not thousands of other cryptocurrencies that have sprung up in an attempt to compete with it. Some competitors have become mainstays in cryptocurrency news, but none have yet matched bitcoin's value. If you think cryptocurrencies are the future, or are even just fascinated by one or two particular ones, there are ways to trade in some of your bitcoins for them.
You'll need to make sure you have the right bitcoin wallets and use the right bitcoin exchanges, depending on which cryptocurrencies you're choosing; they're not all as universal across exchanges as bitcoin. In previous bitcoin articles, we've discussed other popular cryptocurrencies that one might look to invest in as well, such as Ethereum, Ripple and Litecoin.
There are other highly valued cryptos out there, like Bitcoin Cash and Dash each of which boast a much faster transaction time than bitcoin , that can be considered. Bitcoin owners who use Coinbase as their wallet use Coinbase's own exchange, GDAX, to buy and sell their cryptocurrencies. Go to GDAX and login with your information. On the left side of the page are the options for Market, Limit, and Stop. Entering the amount of BTC you want to spend for Market and pressing Buy allows for an immediate purchase at current market prices.
Limit tries to order at the specified price or better. A Stop order becomes active after a specified price is reached, and you have the option for it to be a market order or limit order. It actually offers far more cryptocurrencies to trade for - dozens of them, in fact.
Bitfinex also offers several more options for your orders, such as OCO, aka One Cancels Other - placing a pair of orders with the understanding that if one order is completed the other is immediately canceled.
Gemini and Poloniex are two other fairly prominent bitcoin exchanges that let you trade for ethereum, while Kraken also offers Dash and Ripple. Trade fees vary from exchange to exchange.