Litecoin cryptocurrency
The cryptocurrency Litecoin (ticker LTC) is one of the most famous forks (offshoots) of Bitcoin, also called “digital silver.
Litecoin network was successfully launched on October 13, 2011. The developer of LTC coin is a very famous personality in the crypto-world – Charlie Lee. Charlie Lee, fascinated by modern digital technology, dreamed of creating his own lightweight version of Bitcoin cryptocurrency, which would be much faster and require lower fees.
Litecoin is known to be the second fork of Bitcoin, built on the Blockchain code of its original. Transactions in LTC are verified by the Scrypt algorithm, which, unlike SHA-256, requires less computing power to maintain the network, while not allowing ASIC chips to gain a significant advantage in the network. Transactions on the Litecoin platform are verified by the robust Proof-of-Work consensus algorithm, which requires a lot of computing power to operate.
LTC got its resounding nickname “digital silver” for its more advanced Blockchain system than Bitcoin, which allows for almost instant transactions at very low network fees. Here, a single financial transaction is 5 times faster than on the BTC platform (about 2.5 minutes), and the low fee makes it possible to make even microtransactions.
Litecoin issuance is also different from the original. A total of 84 million coins will be created in this system. At the time of writing, more than 61.47 million LTC have been mined.
Deposit Litecoin at Cryptex.net
In order to deposit Litecoin cryptocurrency on Cryptex.net exchange, go to the “Balance” section, which is located on the home page of the site.
You will get to your personal cabinet, where several blocks with the names of cryptocurrencies will be listed. Find the “Other cryptocurrencies” block and click “Choose currency”. A list of coins will appear in front of you, select “LTC” (4th position from the bottom). If you did everything correctly, now instead of the “Other Cryptocurrencies” block a new window will appear with the appropriate name “LTC” and at the bottom two buttons “Deposit” and “Withdraw”.
Use “Deposit” function, exchange system will generate a unique LTC address for you, which you will be able to use to deposit to your personal account. To avoid having to type the LTC email address manually, use “Copy” (the address will be copied to your PC’s clipboard automatically).
Final step execute transfer to specified address given by Cryptex.net trading platform. After a while the funds will come to exchanger’s account and your balance will become LTC positive. After that you will be able to see all information about deposit in “Deposits” section.
Besides the standard input via Blockchain, Cryptex exchange gives its users an opportunity to deposit Cryptex code to their account, instantly and without commission.
Withdrawal of Litecoin cryptocurrency from the exchange
In order to withdraw LTC asset from Cryptex.net to a third-party account, go to “Balance” section on the exchange main page, open “Other Cryptocurrencies” block, select “LTC” ticker in the list, click “Withdraw” button in the new Litecoin cryptocurrency block that appears. After that two windows “Address” and “Amount to withdraw” will appear just below.
- In the “Address” field, type in the numeric LTC address you want to withdraw funds from the exchange.
- In the “Withdrawal Amount” field specify the necessary amount of Litecoin cryptocurrency that you want to withdraw from your personal Cryptex.net account.
Under the line “Amount to withdraw” pay attention to the fee that will have to be paid for the cryptocurrency transfer. The commission of Cryptex.net for the withdrawal of Litecoin is fixed at 0.001 LTC per transaction and the withdrawal limit is not limited.
You can find more details about all Cryptex.net transaction, deposit and withdrawal commissions in the “Commissions” section.
After making sure that the data you entered is correct, click on the “Withdraw” button. The exchange system will start forming a transaction to send Litecoin cryptocurrency to the account you specified earlier. After successful completion of the transaction the detailed history of withdrawals from Cryptex.net can be found in the “Withdrawals” section.
As in the case with the deposit, you can withdraw funds from the account using the Cryptex code and then transfer it to the addressee for activation on cryptex.net.
