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.

• 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.

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.

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

• 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.

• 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 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.