Currencies > Litecoin (LTC)
What is Litecoin?
Litecoin is a cryptocurrency forked from the original Bitcoin blockchain. Charlie Lee, a Google employee, came up with an idea to make a faster and lighter version of already existing cryptocurrency. So, after few attempts, LTC – more available and efficient version of BTC was created.
With LTC being a fully decentralized cryptocurrency, Litecoin transactions are available for everyone and all the information about the transactions is stored in the blockchain and cannot be modified or erased.
What are the advantages of Litecoin?
Speed and efficiency. If you compare LTC to Bitcoin, Litecoin sure wins from the point of transaction speed and security. Besides that, Litecoin is available for a wider audience as the transaction fees are lower than the ones of other cryptos.
Mining process. Miners of Litecoin are about four times faster than the ones of BTC to produce blockchains.
Sustainability. LTC has an 84 million cap when other cryptos usually are around 21 million. If the demand increases, Litecoin can provide coins even when other currencies run out of resources.
How to store Litecoin?
Litecoin is very similar to Bitcoin in its nature, so it is possible to store LTC in all the major crypto wallets. In here everything is truly up to the users – Litecoin is supported by desktop wallets, hardware wallets (for those who do not trust online systems) and even paper wallets. Android and Apple mobile wallets support LTC, too.
How to buy Litecoin?
Besides Litecoin mining, LTC can be purchased both with fiat money as well as other cryptocurrencies. Variety of exchange services list LTC at different rates. You may always check the most relevant Litecoin price and Litecoin price chart on CoinMarketCap.
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