The migration of LTC to the new token infrastructure is now complete, improving speed, security and compatibility. Key features:
- Automated LTC withdrawals: Withdrawal requests will be processed without human intervention once our advanced risk system approves them, reducing the processing time from +1 working day to approximately 30 minutes, subject to network conditions.
- Withdraw LTC to any address type: Customers may now withdraw to any active Litecoin address types with prefix ‘L’, ‘M’ and ‘ltc’, including SegWit addresses with prefix ‘ltc’.
- Spend LTC securely: Customers can now spend their LTC from SegWit addresses, which is considered more secure than from legacy addresses.
- Deposit to P2SH-wrapped segwit addresses: Users can still deposit from legacy wallet providers who do not support native SegWit addresses yet and be assured their funds stay in the Crypto.com App safely.
- With this change of infrastructure, users’ LTC Wallet deposit addresses have changed. Please check any previously stored/saved address locations and update to the new LTC address which starts with “M”.
- The current addresses will be phased out by the 11th of November 2019.
- To avoid confusion with BTC addresses, the Litecoin community has differentiated Litecoin addresses from Bitcoin addresses. To support this initiative, deprecated format addresses are no longer supported in our App. We suggest customers to use this online tool to convert deprecated format addresses if any in their withdrawal address whitelist.