Sell Litecoin for Euro

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Sell Litecoin for Euro

Are you experiencing difficulties? No worries, we are here to help! You can also pose all your questions to our support team, which is available through the live chat at the bottom of the page.

How to sell LTC – Litecoin to Euro in 3 simple steps

Step 1: Place an order to sell Litecoin

You do not need a SATOS account to sell Litecoin or other cryptocurrencies. First, you enter how much Litecoin you want to sell or how much EUR you like to receive. Once you have filled either one of these two options, the other will automatically be calculated. Do you agree with the proposed exchange rate? Then click on ‘Place order’.

Step 2: Confirm your order

We now require your details to process the transaction. Aside from providing your details, you can also consult this screen to see the agreed-upon exchange rate and the value of your Litecoin transaction. The only data we require of you are your email address, bank account and name of the primary holder of the account. Once you have filled in this information, the process is nearly complete. Click on ‘Confirm order’.

Step 3: Send your Litecoin to SATOS

The next step is to send your litecoin to a SATOS wallet address. After filling in your details and clicking on send, you will be shown an address to which you must send us your litecoin to. It is vital that you select an appropriate transaction fee. This ensures that we will receive your litecoin before your order expires. Most litecoin wallets automatically display a recommended and average transaction fee. Once you have uploaded your transaction to the network, you will need to wait for the confirmation of the blockchain. Wondering how long this takes? We will explain this process a bit further down the page. For now, let us go to the final step!

Step 4 – Verification and payment

Alas, even SATOS is obligated to follow up on verification procedures as after your transaction is confirmed on the blockchain, we will ask you to briefly verify yourself. We will thoroughly explain our verification procedures on your personal transaction page as well as indicating which procedures apply to you. Do not fret, it is not rocket science and if you are curious about what our verification procedures are you can always check our current verification methods. Once you have handed in the specified verifications, our compliance team will do their best to quickly assess and verify your documents, after which we will process your order as soon as possible.

Up-to-date with our verifications? Then we will do our best to pay your order out as fast as we can!

At what LTC price rate should I sell Litecoin?

The crypto market is always open, and as a result, the Litecoin exchange rate keeps fluctuating. The coin has already endured some aggressive rate fluctuations. It is not unusual for Litecoin to gain or lose a couple of percentage points during a single day. So how do you determine the right moment to sell or buy Litecoin in this type of market? No one knows the answer to that question. That’s why you should always do some research yourself before you decide to buy or sell. Do you want to know more about Litecoin pricing and the dynamics behind it? We set up a special Litecoin price chart page where you can learn more about Litecoin and its pricing.

How long does it take before I receive euros on my bank account?

We understand that this is an important consideration when selling cryptocurrency. We have listed the factors determining the processing time below:

  • SATOS processing time
  • Processing time of the Litecoin network
  • Bank processing time

SATOS processing time

On average, SATOS processes transactions within 15 minutes. Keep in mind that if this is your first transaction on our platform, that you may need to complete a couple of one-time verification steps. Also, be aware that the selling price of your transaction is fixed from the moment we receive your Litecoin. You will not have to worry about possible rate fluctuations during the sales process after we have received your Litecoin. This way, you will know exactly what to expect.

Processing time of the Litecoin network

Aside from the time it takes for us to process your transaction, the processing time of the Litecoin network is also a factor to take into account. If the system is currently facing a lot of traffic, it might take a bit longer before miners successfully add your transaction to the blockchain. However, this is rarely a concern for the Litecoin blockchain; it practically never causes a delay. The speed with which your transaction is processed depends on the transaction fee you pay. Why is this? Every block on the blockchain is limited in size. Therefore, miners need to choose which transactions they will work on in the next block. As miners seek to maximise their profits, they will first process the transactions with the highest fees. The higher the fee, the faster your transaction will be processed.

Bank processing time

Unfortunately, we are also dependent on the processing time of banks. Banks generally process transactions slower than the Litecoin blockchain. Banks are also often closed in the weekends. Did you complete your payment after 3 PM? Then you will probably only receive the amount on your bank account the next day, as banks generally do not process transactions past 3 PM.

Why do customers opt for SATOS?

  • Speed: SATOS processes transactions instantly and days per week.
  • Reliability: SATOS has been the Netherlands’ primary broker for selling and buying cryptocurrencies for more than five years now.
  • Support: the SATOS team stands ready to assist you, seven days a week. We offer live support through chat and phone.
  • Security: in line with the original vision of Satoshi (hence the name ‘SATOS’), we do not manage the assets of our clients.
  • Straightforward: we offer convenient payment methods, such as iDEAL, Bancontact and SEPA.

We appreciate our customers’ feedbacks! Here’s what some of our customers say about our work Trustpilot.

Can I also buy Litecoin at SATOS?

Yes, you can! SATOS both sells and buys Litecoin. It is our mission to make cryptocurrencies more accessible for everyone by allowing the exchange of cryptocurrencies for euros and vice versa. Wondering what other cryptocurrency you can sell at SATOS? Take a look at these pages:

Veelgestelde vragen

Can I also sell Litecoin at SATOS?

It’s not only possible to buy cryptocurrency from us; you can also sell it to us! We consider it essential to offer our customers a platform that they can always fall back on to transfer their euros to cryptocurrency and vice versa. Therefore, you can also use our services to sell your Litecoins for euros.

Wondering what other cryptocurrencies you can buy and sell at SATOS? Take a look at these pages:

Always double-check addresses before sending cryptocurrencies

Are you going to transfer cryptocurrencies? Like when selling Bitcoin? Then always copy the recipient address of the person you like to send the Bitcoin to. It is easy to make a mistake when re-typing the address. There is also nothing you can do afterwards to recover your payment. Indeed, if you accidentally send Bitcoin to a wrong address, there is a big chance you will never see your coins again.

Communicate with your bank before selling large amounts

If you are planning to sell large quantities of cryptocurrency, it is advisable to inform your bank of this in advance. If you fail to do so, your bank might start asking questions of you following a transaction. They even reserve the right to freeze your bank account if they smell something fishy. You will want to avoid this. Hence, always inform your bank in advance when major transactions are coming up.

Setting up a transaction fee for miners

We have already discussed this earlier on this page, but it remains crucial to add a reasonable transaction fee to your transaction. This ensures that the Bitcoin miners will quickly add your transaction to the blockchain. Miners are faced with limited transaction space per block, which is why they prioritise trades with high fees.

Cryptocurrency and paying taxes

It is essential that you declare your crypto assets with the tax authorities every year. This helps you to avoid future problems when you, for instance, attempt to exchange your Bitcoin to euros. In the Netherlands, cryptocurrencies are generally taxed in Box 3. The first 30,000 EUR is exempt from taxation. You can find more information about taxes at our dedicated bitcoin tax page.

Which bank does SATOS use?

Our accounts are administered by BUNQ. This allows us to offer you instant payment services. Are you also an account holder at a bank supporting instant payment? Then the money will appear on your account almost instantaneously.

Does SATOS pass on information to tax authorities?

No, SATOS does not provide tax authorities with any data. You are expected to communicate your received income to the tax authorities yourself.

How long does it take before I receive the money on my bank account?

You will receive your payment on the next working day at the latest. This differs from bank to bank. SATOS generally processes orders within 10 minutes. If your bank supports instant payments, the money will nearly instantaneously appear on your account. Take a look at our terms and conditions to learn more about how we operate and what you can expect from us. We have done our best to keep them as short and understandable as possible. That way you know for sure that you’ll never be confronted with unexpected surprises.

I need assistance; what is the most convenient way to reach you?

We are available seven days per week from 10 AM to 9 PM. You can reach us through the live chat, by email, or by using social media. For frequently asked questions, please first check our support-page.

What does SATOS use my personal data for?

We understand that privacy is a key concern for you. Therefore, we drafted an entire page covering just this subject. Please have a look at our privacy policy page.