Hey all. I’m hoping someone can help clarify something for me – I want to swap my Litecoin for Bitcoin on Coinbase, but I’m not exactly sure how to do it. I’ve been holding onto some Litecoin and have decided I want to broaden my portfolio with Bitcoin as it seems more promising at the moment. Can I do this straight from my Coinbase account?
I’ve been on the platform for a bit, primarily buying and selling Litecoin. Most of my cryptocurrency dealings have been with Litecoin, so my knowledge of how things work with Bitcoin is limited. I understand they are different, but can any specific issues arise when I go to make this swap?
Additionally, are there any fees involved in the process? When trading traditional stocks, there are sometimes hidden fees so I figure it’s the best to clarify that before I proceed. I’m concerned I may be hit with unexpected costs. From your experience, how does Coinbase handle these kinds of transactions?
Finally, if someone could guide me through the actual process of the swap, that would be great. Are there any steps I should be aware of, or is it as simple as selling my Litecoin for US dollars and then buying Bitcoin? Looking forward to hearing your experiences and insights on this.