It’s not a surprise that every day the popularity of cryptocurrencies is growing significantly. Litecoin is a leading cryptocurrency that has been able to prove itself in recent years. However, users often face problems when trying to cash out or send crypto to other accounts. Today, we’re about to find out how to send Litecoin to a Litecoin wallet or other services. Let’s get started!
How Long Does It Take to Send Litecoin: How to Send & Receive LTC?
Sending litecoins is like doing a transaction in your bank account. Log into your wallet. Litecoin recipient address and the amount of LTC must then be entered there. You can then send a transaction.
How long does Litecoin take to send a transaction? Litecoin is able to process a maximum of 56 transactions per second. This makes it much faster than both BTC and ETH put together!
You don’t have to do anything when receiving litecoins. Just make sure that you give a person your correct account number as well as a public key. How long does Litecoin take to send a transaction? Quite often you will see incoming Litecoin transactions right after they have been sent — confirmation can take a few minutes. Only then can you send these litecoins, if you wish.
It’s necessary to note that it’s impossible to determine the exact time as it depends on the number of blockchain confirmations. Thus, it refers to your wallet address provider. Be aware that this process may take some time.
How to Send Litecoin to Wallet: What Are the Key Steps?
Are you about to send litecoin but don’t know how? How to send litecoin to wallet? It’s not that difficult, but this process can be quite confusing at first. Here are the key 3 steps to follow.
Step #1 Choose a Litecoin Wallet
In order to be able to send litecoins, you need a litecoin wallet. A wallet is a digital management system for your litecoins.
Just find out more about different Litecoin wallets or even download some wallets to try them. A litecoin wallet is a very first tool for sending and receiving litecoins. You must be familiar with them.
Beginners are often advised to buy a Litecoin hardware wallet. It offers several advantages — a hardware wallet is easy to set up, user-friendly, and very secure.
Online wallets also have a number of advantages. In this case, users can create an online wallet and then send and receive cryptocurrencies. Most online wallets also allow you to convert crypto-to-crypto, e.g. Bitcoin to Litecoin.
The only but significant advantage of paper wallets is that all confidential information is not stored in any digital form, which nullifies all hacking attempts or cyber attacks.
How to send Litecoin from wallet of that kind? In order to send LTC from your paper wallet, you first need to transfer them to a mobile application. How to do this? Just scan the private key with your camera. Once you’ve imported your litecoin paper wallet, you can send your litecoins.
Step #2 You Need a Litecoin Receiving Address
So that you can now send litecoins, you need a litecoin receiving address. Here are two ways. If you wonder how to send litecoin to wallet (the one you own), you have to copy out the receiving address. And if you wonder how to send litecoin to someone, then they must give you their receiving address.
A litecoin receiving address always starts with an L or an M and can look like this, for example, 1MSjTh6r1AEbqGhrH5KsamAHxc8WK1VSVE
Under the menu item ‘Send’ you now have to enter a receiving address, as well as the amount of LTC. You can optionally add a description as well.
Step #3 Track Your Payment
After you’ve sent litecoins, you can track them thanks to the blockchain. To do this, just copy the receiving address and paste it into a block explorer.
Your transaction is now either ‘received’ (confirmed) or not yet ‘received’ (unconfirmed) by a recipient. Many recipients wait for 12 confirmations. A Litecoin transaction with 12 confirmations is considered secure and irreversible.
Current Fee to Send Litecoin: LTC Average Transaction Fee
What is the current fee to send litecoin? We should note that a very small sending fee usually converted into cents, is necessary. Fees can be less than 1 cent depending on how many inputs and outputs you have. The larger the size of the transactions, the more fees you will have to pay. How long to send litecoin does the network take? Have you ever sent your LTCs to someone? Feel free to share your experience in the comments!