FS: Others Litecoin @ 10% off


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psyph3r

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Mods please do let me know if cryptos are allowed here, I saw a WTB thread for BTC hence I'm posting here.

Hey guys,
I have some Litecoins for sale, I had bought a couple of them earlier this year when it was still at $60 a piece, today it is at $300 each so I want to sell some off at 10% discount compared to local exchanges.
Min amount for sale is Rs.1000.

What is LTC ?

-It is a p2p cryptocurrency just like bitcoin but slightly better in some aspects, namely faster confirmations and low transaction fees.

Why is it increasing in value ?
-As everyone and their dog jumped onto the Bitcoin bandwagon in the last few months, its limitations have become more apparent. Transaction fees for BTC are exorbitant in comparison and it takes forever to transfer sometimes due to network congestion. Also BTC value has been highly volatile and people are diversifying into altcoins that are much more stable and scalable like LTC.

What can I do with LTC ?
-You can hold it in your desktop wallets for a bit and sell it on Indian exchanges like Koinex.in when it increases in value for profit.
Alternatively you can wait for it to increase in value and redeem them for steam vouchers on Bitrefill.
Since it tripled in value over the last one week, if you had Rs.1000 worth of LTC you could've redeemed it for Rs.3000 worth steam voucher today. So you could possibly get more for your money's worth for the Steam Christmas sale.

How is the extra 10% calculated ?
-I'll be using Koinex.in rates as reference and throwing in 10% more LTC compared to what they are offering.
Since the rate keeps changing, the rate at the time of receiving payment will be considered. So if you pay Rs.1000, I'll send 1100 worth of LTC.

How will I receive my Litecoins ?
-You'll be required to install a desktop crypto wallet like Electrum-LTC or Exodus, coins will be sent to your personal address immediately after payment gets reflected in bank account.

Are there any risks involved ?
-Well cryptos are still uncharted territory so no one can say anything for certain when it comes to volatility.
Prices for LTC are expected to go up until they hit $500 at least after which it'll correct a bit and continue its rise as more people consider it as a better alternative in comparison to BTC.
That being said you should only put in money that you're willing to lose. Will you lose all Rs.1000 if prices fluctuate ? Nope, there's always a base price that it recedes to before going on a bull run again, if you wait it out you'll get your money's worth eventually.

 
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Abhinav Rakesh

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Just asking why are you not trading them on exchanges ?

I may be a prospect buyer and would like to know how you would like to transact ?
 

psyph3r

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I'm also gradually selling them through exchanges but from my brother's account since I don't have an aadhaar card.
I've already made some gains so passing off some over here at 10% off, it's also a good opportunity for people to check out what all the fuss is about by buying small amounts without signing up at an exchange either.
Transaction works the same way as usual.
 
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