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Frequently asked questions

The price of Litecoin is a market price based on supply and demand. This means that it will rise, when there are more people willing to buy than sell, and fall when there are more sellers than buyers.

Like most cryptocurrencies, Litecoin's price is heavily tied to the price of the overall cryptocurrency market. When the major cryptocurrencies like Bitcoin rise, then so usually does the LTC price.

Those looking to invest in Litecoin should pay attention to upcoming halving events. The reward for mining a Litecoin block halves at fairly predictable intervals. The next event is due to take place around August 2023, at which point the block reward will shrink to 6.25. This reduces the supply of newly minted litecoins, and should therefore put upward pressure on the Litecoin price.

You can sell Litecoin on a crypto exchange.

A crypto exchange (or cryptocurrency exchange) is a marketplace where buyers and sellers trade cryptocurrencies. Just like regular stock exchanges, a cryptocurrency exchange serves as a middleman who sets the market price at which an equal number of buyers and sellers can be found.

Cryptocurrency is notoriously volatile, and Litecoin is no exception. Huge bubbles can inflate and delate over very short spaces of time. Therefore, if you invest in Litecoin and come to sell it, there’s a reasonable chance that you’ll choose the wrong time. Ideally, you’ll want to sell when the value of the coin is at its highest. Judging when that might be will require a little bit of care, research and intuition — and a little bit of luck, too.

Don't miss out on a good selling point and set a yourself price alert.

When you’re judging whether or not the price is right, you should make sure that you’ve accounted for all of the additional costs that you’ll incur when you come to sell your Litecoin. The exchange will demand a small fee, and you may be liable for extra taxes, if you’ve made a profit.

There are a several things you should consider before you sell crypto. First, you should pay attention to the trading and payout fees of an exchange. Second, look out for an exchange supports your preferred payout method such as bank transfer or PayPal. Third, make sure that your exchange has good customer service in case something goes wrong. And last but not least, don't forget to assess your tax bill before you sell. Crypto tax tools can help you with that.

While most exchanges will offer bank transfer as a payout method, some exchanges may offer different ways. You can use Cryptoradar to compare your options. Filter the categories according to your own requirements.

In most countries around the world, cryptocurrencies like Litecoin are viewed as digital commodities. If you buy Litecoin and then sell it for a higher price, you’ll have made a profit and you’ll therefore be subject to capital gains tax. You can use a crypto tax tool to assess your tax obligations.

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