What is Litecoin (LTC)
Litecoin is a cryptocurrency that was designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology.
The cryptocurrency was created based on the Bitcoin protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.
Litecoin was released via an open-source client on GitHub on Oct. 7, 2011, and the Litecoin Network went live five days later on Oct. 13, 2011. Since then, it has exploded in both usage and acceptance among merchants and has counted among the top ten cryptocurrencies by market capitalization for most of its existence.
The cryptocurrency was created by Charlie Lee, a former Google employee, who intended Litecoin to be a “lite version of Bitcoin,” in that it features many of the same properties as Bitcoin—albeit lighter in weight.
- Litecoin (LTC) is a peer-to-peer cryptocurrency that aims to enable fast and low-cost payments to anyone in the world.
- The Litecoin Project was conceived and created by Charles Lee, a former Coinbase employee, with the support of multiple members in the Bitcoin community. It was launched on October 13th 2011, and has introduced a number of modifications based on the original Bitcoin protocol.
- The most prominent of these is Litecoin’s Proof-of-Work consensus: its algorithm is based on Scrypt, instead of SHA-256d. Furthermore, Litecoin has a target block time of 2.5 minutes, and a total supply of 84 million.
- In May 2017, Litecoin adopted Segregated Witness (SegWit). In the same month, the first Lightning Network transaction was completed on Litecoin, transferring 0.00000001 LTC from Zürich to San Francisco in under one second.
- Future development areas include the addition of privacy-features (an implementation of the MimbleWimble protocol), the support of Schnorr Signatures, and Taproot (a privacy preserving switchable scripting feature).
How To Buy Litecoin (LTC) Coin
1.Step: Everyone who is planning to invest in or benefit from the advantages of cryptocurrencies wonders the answer to Where to buy Ltc coin question. First, you need an online wallet to buy cryptocurrencies. You need to sign up to Binance exchange from here, which is preferred globally to buy coins and you can buy coins with fiat currencies. You can quickly access many assets and trade types such as altcoins, future markets, and margin by creating a Binance account.
2.Step: Complete your registration by typing an email to the email section or typing your phone number on the section available on the mobile tab. Click/tap on the “Buy Crypto with Your Credit Card” option after the registration and verify your identity.
3.Step: Continue the process by typing the amount you would like to invest and your preferred cryptocurrency. Keep in mind that for security reasons, your credit card/debit cardholder information must match with the name available on your account. If you would like to buy cryptocurrencies with a wire transfer, you need to follow the Buy Crypto > Third-Party Payment options to pick your preferred fiat currency to buy cryptocurrencies.
4.Step: If the cryptocurrency you are planning to buy is not available on the list, buy USDT “You can always redeem 1 USDT Coin for US $1.00”. You can buy any coin you want with USDT by following Buy-Sell > Classic steps. We have provided the answer to How to buy Litecoin, now you can view the cryptocurrencies you bought by clicking on the wallet summary available on your Binance account. You can sell your assets when their value increases, or you can withdraw them to your bank account in desired fiat currency.
How Much is a Litecoin (LTC) Coin
Litecoin (LTC) coin prices are updated instantly in USD, Euro, Sterling currencies in the following table.
Litecoin (LTC) Coin Review
You can learn more about Litecoin (LTC) coin reviews and information on cryptocurrencies by visiting their official page available in the following.
Website https://litecoin.org/ Github https://github.com/litecoin-project/litecoin Telegram https://t.me/Litecoin