How to convert litecoins to bitcoins

By | August 3, 2015

First of all create an account at: https://btc-e.com. Then click on finances -> deposits. You will then be given an address to send your litecoins to.

1

Copy this address into your litecoin wallet. I use Electrum. There is a 0.001 LTC fee and you will be asked to authenticate the transaction.

 

Your transaction will then be in the pending status as it is unconfirmed. Because a transaction has been made, it needs to be confirmed by “miners”. You can check your status within your wallet or in the exchange. BTCe requires 6 confirmations. 1 confirmation takes around 2.5 to 3 minutes so expect a ~15 min wait time. Time for a cup of tea.

wait-for-confirmation

Note that:
“Your deposit will be credited in few minutes after 6 confirmations on the Litecoin network.” is contentious depending on your definition of “few minutes”.

Also note that: “Transaction confirmation on the Litecoin network can take from 1 hour and up to 3 days if you send it without fee.”. What this means is that you want to include a fee. This is like a tip to miners for helping to confirm the transaction. A standard fee of 0.001 LTC is added by the Electrum wallet as noted earlier.

For me it took 22 minutes after which it then appeared in my BTCe account.

1 litecoin in btce

The final step is to create a sales order on the exchange converting the litecoins to bitcoins.

sell lite coin

 

A confirmation is shown with a 0.2% fee.

0.2 percent fee

The transfer is then completed.

transfer completed

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