How does the Litecoin gateway work

After creating withdrawal request, Litecoins are transferred to the gateway side as wLTC (Waves LTC) tokens, then gateway processed them and finally sends as external LTC transaction, i.e. wLTC > Litecoin gateway > LTC.

For deposits, the process is repeated but in the opposite direction LTC > Litecoin gateway > wLTC asset.

You will receive tokens to your Litecoin address which you used. By the way, deposits and withdrawals process usually takes up to 120 minutes.

Warning. All transactions are always processed only through this gateway address - 3PAs2qSeUAfgqSKS8LpZPKGYEjJKcud9Djr

What is Waves LTC?

The Waves LTC token (wLTC) represents Litecoin on the Waves blockchain. Waves allow people to store and transfer it more efficiently due to Waves’ high speeds and low transaction fees.

Every wLTC token is 1:1 backed by Litecoin held in a secure multi-sig account.