Many platforms can help investors exchange their cryptocurrency for centralized currencies, aka fiat currency. In today’s article, we’re exploring how you can exchange Litecoin, the world’s first ‘altcoin,’ into fiat currency.

Litecoin is a great investment option, but sometimes you need fiat money to make transactions in the physical world. So here is a guide to converting your Litecoin to fiat money.

Use Cryptocurrency Exchanges
1

Use Cryptocurrency Exchanges

As mentioned, you need to have a Litecoin wallet to exchange your crypto for fiat money. If your wallet is not hosted on a platform that supports LTC to fiat conversion, you need to sign up with exchanges that allow these conversions. You can withdraw or deposit your Litecoin to your digital wallet on these platforms and get fiat money in exchange.

Sell LTC to Another Person
2

Sell LTC to Another Person

You can sell Litecoin to another person by using two methods:

  1.  P2P transfer
  2.  Face-to-face transfer

Several specialized platforms allow you to sell your Litecoins to prospective buyers. You can post an ad on this peer-to-peer platform to sell your Litecoin. Now, the interested buyer can find this listing and reach out to buy your portfolio. Of course, the escrow function is involved in these transactions to ensure safety.

Use Litecoin ATMs
3

Use Litecoin ATMs

Litecoin ATMs are popping at various locations globally. Statistically, there has been a 200% growth of crypto ATMs. LTC has exclusive ATMs that allow Litecoin transactions. But there are Bitcoin ATMs that allow Litecoin transactions as well. You can buy Litecoin with cash, sell it or even transfer them to a different wallet.

If you want to use these ATMs, all you need to do is follow some simple steps:

  1. Visit your nearest Crypto ATM.
  2. Use the sell option and verify your identity.
  3. Enter the amount you need to withdraw.
  4. Collect the QR (the address you need to send your Litecoin to) to send your Litecoin.
  5. Scan the QR and confirm the transaction.
  6. Collect the cash after the transaction is complete.

If you want to buy LTC at the ATM, you should follow these steps:

  1. You need to have Litecoin to buy LTC using an ATM.
  2. Visit your nearest LTC ATM.
  3. Select the Buy option.
  4. Scan the QR code of your crypto wallet.
  5. After scanning, insert your fiat money and confirm the transaction.
  6. Once approved, your transaction is complete.

So, why do you need these Litecoin ATMs? There are several reasons for it, including the following:

  • Fast transactions
  • Better security
  • Flexibility
  • No account needed
  • Easy-to-use

FAQ

Are Litecoin ATMs anonymous?

Yes, the transactions you make at Litecoin ATMs are anonymous. 

How long does a transaction at Litecoin take?

The transactions at Litecoin ATMs are instant. So, it might take only a few minutes for you to complete a transaction. 

Are Litecoin ATMs safe?

Yes, LTC ATMs are the same. So, your portfolio is secure under these ATMs. 

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