withdraw Litecoin from exchange | Bitcointalksearch.org

2Pizza410000BTC

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Quote from: david678345 on November 24, 2023, 03:37:58 PM

I wanted to withdraw Litecoin from one exchange and the only network available is bep20...
theres no other options...is this the right network to use? I think in the past the network was called litecoin network?

btw is LTC still the best option to use for withdrawals?

If you want to withdraw your Litecoin from Binance Exchange to Bep20 address then you can withdraw. I saw that it is possible to withdraw Litecoin to Bep20 address from Binance Exchange. Other exchanges may not allow you to withdraw to a Bep20 address. But I am sure if you use binance exchange you can withdraw to Bep20 address from there.

bastian466

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If there is any doubt, it is better to exchange it first, even if there are other options such as Tron,matic or USDT, choose according to your needs, whichever you think is better and cheaper. Taking transaction costs into consideration, it is only natural that the average person would flee to a cheaper place

cryptoknightt

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you can use tron,matic,stellar,cardano, for lower fees, but if you really need litecoin then there will be no choice but to do that.
but I think bep20 network pays lower fees than ltc network

NewRanger

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Actually, it's easy. OP just search on SMC to see LTC coins and look for which market provides transactions for LTC coins. yes. the overview is as attached by @tjtonmoy and it is quite complete, just OP register on the stock exchange and just make transactions and don't have to bother at all.

Miles2006

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Quote from: david678345 on November 24, 2023, 03:37:58 PM

I wanted to withdraw Litecoin from one exchange and the only network available is bep20...
theres no other options...is this the right network to use? I think in the past the network was called litecoin network?

btw is LTC still the best option to use for withdrawals?

If there is no litcoin network available then there is no way you can withdraw the funds because you cannot use another network to withdraw it. And another option you can also use is to sell it directly to a vendor which should p2p so that the stress of looking for a way to withdraw the coin will be reduced. And from your statement, "You wanted to withdraw the coin" but the particular network was not available and that means you have the coin s inside the exchange platform. Then there is possibility to use p2p.

Wahyuihib

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The platform where you are located should have Litecoin when you make a withdrawal, other networks should also be available. of course this is an option. if I may know. What platform do you use to withdraw your LTC? but if you use the bep20 network I think it's not a problem, because this network is also cheap

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Quote from: david678345 on November 24, 2023, 03:37:58 PM

I wanted to withdraw Litecoin from one exchange and the only network available is bep20...
theres no other options...is this the right network to use? I think in the past the network was called litecoin network?

btw is LTC still the best option to use for withdrawals?

I think what @zaguru12 said is the best way. If you find it difficult to send Coin to another address expecialy when the network you wish to send is not available. All you need to do is either sell it for USDT or TRX and send to the recipient in other not to make mistake. Most of these case has made many people lost some fund due no difference Network but thesame Coin. I was once a victim of that. But learnt from my mistakes.

tjtonmoy

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So here's the thing. If you are withdrawing LTC from one exchange to another, then it should not matter that much to be honest as you can just swap that coin into something else later on. But if you're trying to withdraw into a personal wallet, you should choose the Litecoin network. As they say with Bitcoin, if you don't own your Bitcoin in the Bitcoin network, you don't own any Bitcoin. So I will suggest you do the same with this one. If not Litecoin then swap to something else and choose the right network.
To be fair, LTC is one of many that provides a low fee on withdrawal. But you can choose something else like TRX or XLM.

Here's a detailed view of which exchange charges you what on which coin.

Source:
XLM
LTC
TRX

AakZaki

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Quote from: MAAManda on November 30, 2023, 06:55:00 PM

To withdraw directly from a non-custodial wallet it may be the Tron network that's cheaper, but with current market conditions, I think making withdrawals from a CEX like Binance would be cheaper using Litecoin's native network rather than the Tron network. FYI, the recently released L-1 coins also have low network fees like $SUI.

When things are not very good, it does not mean that it will be fine in the end.
There are some altcoins that are always bad and never have a good day because they have been abandoned.
Of course, the bull run must be exploited as much as possible by choosing which altcoin is appropriate enough to provide profits and security for the capital used. Make sure everything is thought through carefully and use your best strategy.

MAAManda

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Quote from: Sayeds56 on November 28, 2023, 12:17:58 PM

Quote from: MAAManda on November 24, 2023, 05:06:38 PM

It's not a wrong network to use, as Litecoin now already has its peg version on the BSC network. So, it won't be a problem if you make a withdrawal. But it would be even better if you used the native Litecoin network. BTW, what exchange do you use? I'm curious about that exchange because they provide the peg version of withdrawals but don't provide withdrawals on the native network Roll Eyes

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You are absolutely right , it's indeed possible to withdraw Litecoin even from Binance exchange by using BEP-20 network, however, it is important to make sure that receiving wallet is also set up and configured with BEP-20 network.

In addition to the native network and BSC (BEP20), Binance also supports the initial Binance network (Beacon Chain or commonly called BEP2). So, it shouldn't be difficult for the OP to make a withdrawal because there are many network options offered by Binance.

Quote from: AakZaki on November 29, 2023, 12:33:00 PM

Usually there are many networks available to withdraw any coin on the Exchange. in fact the cheapest one I use is the TRX network and some of the newer networks like ARB would be better. Exchanges don't only provide one network at the moment and the Litecoin network is also quite cheap, but not as cheap as Trx, but that also depends on the fee policy set by the exchange itself.

To withdraw directly from a non-custodial wallet it may be the Tron network that's cheaper, but with current market conditions, I think making withdrawals from a CEX like Binance would be cheaper using Litecoin's native network rather than the Tron network. FYI, the recently released L-1 coins also have low network fees like $SUI.

johnsaributua

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Ltc with a single network that I still use until now, last week I made a withdrawal for site review game on bitcoin talk forum

My withdrawal from binanc*, if you calculate the fee around usd 0.065 for me is very realistic, very different from the tron fee which can take usd 0.10 or 1 tron fee. It's not a problem because tron withdrawals can be faster than ltc, for me it's just a number that I get by experiment. It would be better if it becomes an alternative method not a competitor. because whatever method we are looking for speed and cheapness in sending crypto.

This coin is popular and some gaming and investment sites accept it, it's worth a hodl if one day it's a rush to just pull from storage. If you are used to using smartcontract transactions in dex, it will be more expensive than CEX, and ltc is the cheapest solution.

Have you explored any exchanger?

Belarge

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Quote from: wajik-tempe on November 28, 2023, 09:18:52 AM

It is not recommended to use the BEP20 network for Litecoin withdrawals since BEP20 is affiliated with Binance Smart Chain, not Litecoin. To avoid any cash loss, make sure you choose the proper network Litecoin's native network. LTC is still a commonly recognized and dependable withdrawal option, but always verify the exchange's unique criteria.

These exchanges have their own different kinds of withdrawal methods in the system. If one doesn't follow the appropriate steps, losing might step in and it's probably the last thing on my mind. BEP20 is most conversant and very popular in the system because most projects tends to be acquainted with the system and we use our time practically. It's always advisable to enable good features when one is involves in certain projects. Litecoin is an altcoin and we have to be careful when one is to place withdrawal of these coins, most of these altcoins uses different network altogether.

o48o

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Quote from: david678345 on November 24, 2023, 03:37:58 PM

I wanted to withdraw Litecoin from one exchange and the only network available is bep20...
theres no other options...is this the right network to use? I think in the past the network was called litecoin network?

btw is LTC still the best option to use for withdrawals?

What ever exchange you are using, leave it. Because any exchange that would put low tx fees ahead of possibility for secure transactions is most likely a scam waiting to happen. Or at least they don't seem to know what they are doing. Are other coins and tokens available only in bep20 as well? Because i would assume so. I get all kind of scammy vibes from that. Poor scammers love bep20 as they don't need much capital to start a new operation.

Bushdark

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Quote from: david678345 on November 24, 2023, 03:37:58 PM

I wanted to withdraw Litecoin from one exchange and the only network available is bep20...
theres no other options...is this the right network to use? I think in the past the network was called litecoin network?

btw is LTC still the best option to use for withdrawals?

It depends on the exchange you are using too. There are some exchange that other bridges of the litecoin do not work due to restrictions or some problems so you have the option to go with the ones that is available. Litecoin has different bridges like the bep20, Tron20, etc that one can use to send it. The bep20 is a good bridge and the network fee is quite lesser and fast. I prefer it to some other network although it might not be the fastest but it's popular.

$crypto$

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Quote from: pakhitheboss on November 27, 2023, 11:58:34 PM

Quote from: Zaguru12 on November 24, 2023, 03:46:49 PM

Yes the right network is the litecoin network but just like other coins you have the coin bridge to other network. But I don’t get why the exchange is only allowing withdrawal on smart chain network only. If your confuse and do not want to make mistake I would advice you swap the coin since it is still on exchange to another coin that you understand it’s network. Example is the tron (Trx) network, it’s fees are cheap and transactions is fast

That would be Binance, they only accept deposit through LTC. For withdrawal you have to use their defi wallet and use BEP 20. That is unfair to many who want use the Litecoin blockchain because of cheap transaction. This is nothing but monopoly of a big exchange. Swapping to TRX is an excellent idea as Binance still allows TRC 20 deposit and withdrawal.

I checked on Binance that the exchange accepts both the original LTC network and the Bep20 network, so in withdrawals there must also be these two options but I don't understand and the OP didn't mention which exchange only LTC Bep20 withdrawals.
If there is any confusion then OP change to another coin as suggested above, afraid there is a little mistake even though I think that the LTC network in bep20 exists I have checked on Coinmarketcap.

AakZaki

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Usually there are many networks available to withdraw any coin on the Exchange. in fact the cheapest one I use is the TRX network and some of the newer networks like ARB would be better. Exchanges don't only provide one network at the moment and the Litecoin network is also quite cheap, but not as cheap as Trx, but that also depends on the fee policy set by the exchange itself.

TelolettOm

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Quote from: david678345 on November 24, 2023, 03:37:58 PM

I wanted to withdraw Litecoin from one exchange and the only network available is bep20...
theres no other options...is this the right network to use? I think in the past the network was called litecoin network?

btw is LTC still the best option to use for withdrawals?

What exchange is it? Usually, even if they provide another network like BSC (BEP20), they usually still provide the main network for the coin, especially Litecoin. However, if only the BEP20 network is available, actually for other coins to withdraw, usually the fee will be cheaper. However, what you have to pay attention to is the recipient's address, it must be a wallet address on the BEP20 network, usually starting with 0x. So don't send Litecoin using the BEP20 network but send it to an LTC / non BEP20 wallet address. This could result in loss or coins not arriving at the destination wallet. So the problem is, is LTC supported on the BSC network? Before you make a withdrawal, first make sure whether it is actually possible or not and make sure what the recipient's wallet is like. Even if you need it quickly and are unsure about it, you can actually switch first to another coin so you can make a withdrawal with more confidence. For example, by converting to USDT, so you can choose according to the network in the recipient's wallet more easily. However, if you don't want to convert, then try checking once again to see if the network provided is correct.

Abu-Naim

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Quote from: royalfestus on November 24, 2023, 05:55:18 PM

If you want to deposit BEP20, look for an exchange with more than one blockchain, including the BEP20 blockchain. As soon as you deposit, you can withdraw with other blockchains

The OP is looking for the best Litecoin (LTC) network, not deposit choices.
Most reputable exchanges offer numerous deposit and withdrawal choices, making it simple to select your preferred network based on transaction fees and network speed.

The OP's question was answered by saying that the best network for LTC is the litecoin network, but he can withdraw through other available networks as well. However, the OP should make sure the network matches the address he is withdrawing to avoid losing money.

Sayeds56

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Quote from: MAAManda on November 24, 2023, 05:06:38 PM

It's not a wrong network to use, as Litecoin now already has its peg version on the BSC network. So, it won't be a problem if you make a withdrawal. But it would be even better if you used the native Litecoin network. BTW, what exchange do you use? I'm curious about that exchange because they provide the peg version of withdrawals but don't provide withdrawals on the native network Roll Eyes

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You are absolutely right , it's indeed possible to withdraw Litecoin even from Binance exchange by using BEP-20 network, however, it is important to make sure that receiving wallet is also set up and configured with BEP-20 network.

Quote from: david678345 on November 24, 2023, 03:37:58 PM

btw is LTC still the best option to use for withdrawals?

I think it is always preferable choice to use the native network of the coin while depositing or withdrawing funds.

wajik-tempe

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It is not recommended to use the BEP20 network for Litecoin withdrawals since BEP20 is affiliated with Binance Smart Chain, not Litecoin. To avoid any cash loss, make sure you choose the proper network Litecoin's native network. LTC is still a commonly recognized and dependable withdrawal option, but always verify the exchange's unique criteria.

Topic: withdraw Litecoin from exchange (Read 359 times)