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Reasons to Buy Litecoin(LTC)

• It takes almost one-fourth of the time to process transactions than in Bitcoin.
• It uses Scrypt as its cryptographic algorithm instead of SHA-256.
• Litecoin is also free from censorship.
• It has a market capitalization of more than $11 billion.
• It has a maximum supply of 84 million Litecoins.

Litecoin was launched on October 7, 2011, via an open-source client on Github. It is also regarded as the lite version of Bitcoin.

It was designed keeping in mind the hurdles Bitcoin faces; it provides secure, fast, and low-cost payments harnessing the power of blockchain technology. It is decentralized and is not controlled (or powered) by any organization. The transactions in Litecoin process within a minute with extremely low fees, which makes it a potential match for developing countries to adopt it. All thanks to its mining algorithm, litecoins can easily be mined by people to earn money.

It is widely accepted over thousands of stores, both online and offline.

Things to consider before buying Litecoin(LTC)

• Litecoin is a P2P cryptocurrency with faster payments and low transaction fees.
• It works on the Proof-of-Concept consensus algorithm.
• Litecoin is an open-source project that allows changes to be implemented easily adapting to the market.

Other crypto coins to look at

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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.