search

Trending trendingIcon

Litecoin (ltc)

What is Litecoin ?

Litecoin, also known as the lite version of Bitcoin, is a peer-to-peer cryptocurrency capable of faster transactions at affordable rates. The cryptocurrency works parallel to Bitcoin with a little deviation to mining. Litecoin’s algorithm makes it easier for common people to mine Litecoins and earn money.

About Litecoin 

Charlie Lee – a former Google engineer, is credited as the founder of Litecoin cryptocurrency that came on October 7, 2011. Just after the 4 days of its launch, the Litecoin network was hosted. It is believed that for the total supply of Litecoins to come into existence, it will take more than a thousand years.

Primary features of Litecoin

  • It is decentralized that ensures no centralized authority (or a group of people) trying to control the measures.
  • It works on the ‘Proof-of-Concept’ consensus algorithm.
  • It has a market capitalization of almost $10 Billion that makes it one of the Top 15 cryptocurrencies in the world.
  • Litecoin (LTC) is a peer-to-peer cryptocurrency providing a seamless exchange of funds.

Is Litecoin a promising cryptocurrency?

Litecoin (LTC) is designed to seamlessly transfer funds between people at low transaction costs. If you are looking to buy a Litecoin, then you can check for third-party cryptocurrency exchanges like Coinswitch Kuber.

How to use Litecoin coins?

Litecoin ensures greater security, speedy transactions, and a trustless approach. You can use Litecoin (LTC) in the following ways:

  • Mining: Earn Litecoins by mining them on your personal computer.
  • International Transfers: Litecoins could be transferred easily to family and friends with low fees & fast processing speeds.
  • Online Payments: Litecoin is accepted at thousands of stores worldwide, both offline & online.
  • Investment: Litecoin has grown exponentially in the past, which makes it a good bet for investments.

Pros & Cons of Litecoin coin

Pros

  • Low-Transaction fees: Litecoin has very low transaction fees as compared to other cryptocurrencies that make it widely adopted.
  • Speedy process: The transaction processes in almost one-fourth of the time it takes in Bitcoin.
  • Open-source: Due to the open-source nature of Litecoin, changes can be easily implemented to adapt to the market.
  • Reliable: Being one of the oldest cryptocurrencies in existence that was created as a fork in Bitcoin, Litecoin looks extremely reliable to its investors.

Cons

Dark Web: Litecoin was found being used as a mode of payment on the Dark Web.

Trade Litecoin coin on CoinSwitch kuber

  • You can start investments and trade with just Rs.100.
  • Allows instant withdrawal and deposit directly to bank accounts. 
  • Trade-in Litecoin (LTC) at zero fees.
  • Intuitive and straightforward UI.
  • Easily track your transactions and manage your portfolio.

Litecoin ICO summary

Litecoin didn’t have an ICO in general, but on October 7, 2011, it was released via an open-source client on Github. Litecoins could be purchased on coin exchanges, or you can earn them by mining.

FAQ's on Litecoin

  • How does Litecoin cryptocurrency work?

Litecoin involves the creation and the transfer of digital coins via an open-source, cryptographic protocol. Blockchain is the technology behind LTC that makes it decentralized, immutable, and transparent.

  • How to buy Litecoin cryptocurrency?

You can buy Litecoins online on any cryptocurrency exchange. Furthermore, you can earn Litecoins by mining them from your computer.

  • How Many Litecoins Are There?

There are only 84 million Litecoins so far.

  • How to invest in Litecoin cryptocurrency?

You can invest in Litecoin using the CoinSwitch Kuber app.

Compare with

Ox

Coin comparison

Litecoin

Ox
Crypto Returns Calculator

Highlight

Litecoinis a peer-to-peer cryptocurrency capable of faster transactions at affordable rates.