How to Sell Litecoin in Australia

The Australian crypto market is popular beyond its geographic borders due to the generally friendly and flexible regulatory environment. This country has been one of the early adopters of blockchain technology, and its government has typically allowed the self-regulation of crypto markets. Consequently, if you are looking to sell Litecoin to AUD or any other crypto transaction, you can do so legally in this part of the world. 

While the legislation surrounding cryptocurrencies has traditionally been flexible, Australia officially aims to formalize its crypto regulation policy by 2025. This change results from the increasing emergence of nefarious market actors combined with the rising market instability during the previous crypto winters.

Despite the numerous internal audits and verification processes helping the government examine the overall DeFi framework, Australian individuals and institutions continue to have high hopes for the benefits of crypto assets. Market participants are generally safe when using cryptocurrencies in this part of the world, especially those who opt for CEX.IO’s full suite of services. CEX.IO readily welcomes Australian crypto enthusiasts into our family of more than five million global users and encourages them to explore what we offer (more on this in a bit). 

What is Litecoin?

Whether you’re looking to sell Litecoin for Bitcoin or merely acquire this crypto asset, it is vital to understand what it is and how it works. 

The origin of LTC goes back to 2011, as this cryptocurrency emerged from a fork in the Bitcoin blockchain. At the time, developers were concerned about Bitcoin becoming too centrally controlled and developing Litecoin was a way to address those concerns. Another reason had to do with preventing largescale mining firms from gaining the upper hand in mining. Though unsuccessful in tackling the latter, this cryptocurrency eventually became a peer-to-peer payment system and minable coin.

In essence, the underlying purpose of Litecoin’s design was to be more efficient for everyday use and allow for more affordable transactions. Conversely, Bitcoin’s primary purpose was to enable holders to store value in the long term. Regardless, Litecoin is a form of digital money you can use to transfer funds directly between businesses or individuals. Like all cryptocurrencies, it allows the recording of transactions in a public ledger, thereby operating a decentralized payment system free from third-party censorship or control.

What Should I consider before I sell Litecoin?

Whether or not you choose to sell your crypto assets is entirely up to you. That said, before making this decision, it is critical you conduct thorough market research and base it on current data. Studying trends from different standpoints is just as vital, as it leads to a deeper understanding of certain tendencies and market patterns. 

Simultaneously, you may want to write down your observations in a trading journal to ensure you always have crucial information and observations in mind. 

Where & When to Sell Litecoin in Australia

Regardless of where you are looking to sell Litecoin, doing so through a cryptocurrency exchange is considered by many to be a great choice. Most crypto exchanges typically cater to individual traders, providing different ways to acquire and sell numerous crypto tokens and coins. Therefore, the more instruments you can choose from, the more exciting and potentially beneficial your experience can be. 

The CEX.IO cryptocurrency exchange and ecosystem are perfect for novice crypto enthusiasts and experienced connoisseurs. You’ll find multiple crypto assets available for both buying and selling, allowing you to explore different markets simultaneously and diversify your portfolio (not to mention holding all of your assets in the CEX.IO Wallet with one-click access). 

CEX.IO stepped into the crypto scene in 2013 and since then has successfully served more than five million users worldwide. However, industry peers and competitors also recognize our platform as a top choice when it comes to safe and reputable services.

A small portion of the accolades CEX.IO has received from reputable global companies include:

• Top 10 Best Exchanges Overall (A-grade) from CryptoCompare
• Vetted Exchange by Digital Asset Research
• Among the six best crypto exchanges by Business Insider
• Best Overall DeFi Platform Award from FinTech Breakthrough Awards
• Best Exchange Award from HedgeWeek
• One of the top 20 best global crypto exchanges by Forbes
• Rank 4.5 out of 5.0 by an Investopedia independent review
• Among 14 exchanges with trusted volume from CoinMetrics

How to sell Litecoin to AUD

CEX.IO does not currently feature currency pairs with Australian dollars (AUD). Nevertheless, you can still deposit and withdraw funds from your CEX.IO account using a card issued in this currency. To do so, you must first ensure that your AUD card supports currency conversions and international transactions. However, please note that our platform only allows personal Mastercard and Visa payment cards. 

Whether you’re funding your CEX.IO account or looking to sell Litecoin to AUD using a card, find and select your primary currency for the transactions (USD, EUR, GBP). In doing so, your purchase amount in AUD will automatically convert to this currency, depending on your bank rates.

How to sell Litecoin for USD 

Generally, there could be numerous reasons why you may want to sell your crypto assets for fiat currency. Whatever they may be, whenever you’re looking into such a transaction, your first step might be to check the current price correlation of your desired currency pair. In the case of LTC to USD, it might be wise to consult our chart on this pair, after which you can decide whether to sell your Litecoin holdings.

Seasoned traders may want to visit our Spot Trading platform to find instruments for placing buy and sell orders for crypto to fiat currencies that they hold in their accounts. Alternatively, you can also explore the instant sell service on our platform available through the Wallet product (choose to Withdraw). This feature is the recommended method for less experienced crypto enthusiasts that enables you to sell crypto for fiat and have the funds on your credit/debit cards within minutes.