Litecoin is a peer to peer digital currency created upon an open sourced and decentralized cryptographic protocol. Litecoin is like bitcoin in many ways, but has some technical differences. One of the most important differences is that it facilitates the transfer of coins up to 4 times faster than bitcoin. As well, Litecoin was created as a lightweight alternative to Bitcoin making it easier for users to acquire the cryptocurrency and use it for payments. The digital currency of Litecoin was created in 2011 and is now considered to be the 5th most popular cryptocurrency in competition with Bitcoin, Dogecoin, Ethereum, and Altcoin. Although Litecoin is among the top 5 cryptocurrencies available, very few businesses and online trading brokerages accept Litecoin as payment. However, there are some that see the potential in accepting Litecoin and gain a wider client base because of it.show more
Using Litecoin for deposits is quite simple once you have a reputable cryptocurrency wallet and have acquired some coins. While it is rarely accepted for payments among most trading brokers, the one who do make it very easy to do so. See the following steps below to learn how you can deposit funds to your trading account using Litecoin.
Alternatively, you can simply scan their QR code with your smart phone using your wallet QR code scanner. Then you simply type in how much Litecoin you would like to send, confirm and you’re done.
While there are many benefits to depositing with Litecoin, its not for everybody. Some people can’t get passed the fact it’s not fiat currency and that everything is digital. However, if you can come to accept Litecoin for what it is, it can be a very beneficial method of deposit. Some of these benefits include: