Litecoin is a lighter version of Bitcoin; it is fast, lightweight, and able to produce many coins within a short period. On the other hand Dogecoin is a meme coin that started as a joke in 2013. In this article we will look at how you can exchange Litecoin to Dogecoin
Litecoin to Dogecoin Exchange
There is no particular exchange built for swapping Litecoin to Dogecoin. All exchanges allow for the swapping of multiple coins in the cryptocurrency community. However, there are several ways to exchange Dogecoin for Litecoin. The exchange rates also determine the user’s choice of exchange.
The Exchange: LTC to DOGE
Indirect Exchange
First, traders have to find exchanges that list both coins before proceeding with the swap or trade options. Trading allows for an indirect exchange through stable currencies. The exchanges below are popular platforms that have listed both altcoins.
WOO Network: Woo Network is a Centralized Exchange (CEX) and less popular platform where both altcoins are listed. The network lists both Dogecoin and Litecoin. However, to convert Litecoin to Dogecoin, a user has to use the stable currency USDT. The user first converts Litecoin to USDT, then USDT to Dogecoin. The user can use real-time market prices for the exchange or place an order just above or below the market prices.
eToroX; eToroX is a decentralized Israeli exchange (DEX), which allows for an indirect Litecoin to Dogecoin conversion. The user first converts Litecoin to the stable currency USD; after that, the user converts the USD to Dogecoin.
Crypto.com exchange: Crypto.com is a mobile-based decentralized exchange platform. The conversion process is a bit different because the stable currency is not the same. First, the user will convert Litecoin to USDC, then convert USDC to CRO (Crypto.com coin), and finally CRO to DOGE. CRO is the exchange’s coin.
Direct Exchange
Platforms that allow for direct Litecoin to Dogecoin exchange are very few and are unpopular. Traders should use popular platforms to avoid losses, cryptocurrency scams, and incomplete transactions. Some of these exchanges are:
Changenow; The site seems legitimate and allows for direct exchange of LTC to DOGE. The user keys in wallet addresses with LTC and the wallet address to receive DOGE. The user then exchanges LTC to DOGE by swapping the two coins. The exchange happens after confirmation of the transaction.
Other sites employ the same procedure and include Simpleswap, Changelly, Fixedfloat, Coinyep, Valuta, Evanox and Bestchange.
However, Bestchange is the only site that seems malicious because the site redirects users to outbound links that seem malicious.
Conclusion
Litecoin and Dogecoin are suitable investments. However, it is advisable for traders to use popular exchange platforms like etoroX.