What Is Litecoin LTC? Your Ultimate Guide

This means there is no new capital flow causing the price and transaction volumes to remain low. And while it has some advantages over the leader, it came to the market at a time when Bitcoin was already attracting all the attention. The founders didn’t do much to market it, and most crypto enthusiasts treated it as nothing more than a copycat. In fact, between 2015 and 2016, Litecoin mostly fluctuated between $1 and $4, with interest from investors flaming out.

In this allegory, a reference to abundance comes from the part of a total number of coins that may exist in Litecoin. It is necessary to point out, however, the speed of the transactions carried out is notably higher, making transactions easier. And until now, had remained out of the massive hanger of investors sight. One of them is the Litecoin, https://www.tokenexus.com/what-is-dragonchain-and-how-does-it-work/ another one of those that, not surprisingly, has begun to increase its value in recent weeks. One of the true crypto originals, Litecoin was started back in 2011 by Charlie Lee as a ‘lite’ version of Bitcoin. Currently, there are 66 million UNI coins are in circulation and the maximum supply of its coins are capped at 84 million.

How much is Litecoin worth now?

October 2015 saw the first “halving”, with the reward dropping to 25 coins. This serves the original idea of creating a lighter and more abundant currency, which is to Bitcoin what silver is to gold. Just as Ethereum has a reasonably attractive profile and characteristics about Bitcoin. Litecoin does not have a significant differentiation, which allows us to value this currency in a, particularly yet unique way. Alternative Airlines Customer Service team are on call to assist you with your Litecoin flight enquiry and you can contact us by using our contact us page.

• Currency trading on margin involves high risk, and is not suitable for all investors.
• Crypto.currency.com is a Gibraltar-based app to buy and sell crypto.
• Satisfied with the relatively low cost concerning others of the main.
• The blocks are then cryptographically secured before they get linked to the existing blockchain.
• So in the event of a sharp meltdown in S&P500, for instance, there’ll be probably a sharp sell-off of Litecoin.

Currently, bitcoin is more popular as a payment method but litecoin has a strong presence too. Litecoin can be used as an online payment system in exactly the same way as bitcoin. Buyers can purchase litecoins directly from an exchange and increasing numbers of retailers, restaurants and service providers now accept direct payment in litecoin. Bitcoin works as a global electronic ledger system, where individual transactions must be cryptographically signed off and then verified before being added to the blockchain. However, this process can be slow, with transaction speeds to create a new block taking on anything from 10 minutes to an hour, dependent on network traffic.

Litecoin – The ‘Digital Silver’ Cryptocurrency

In this article, we’ll discuss Litecoin investment to help you decide for yourself whether you should invest in Litecoin or other cryptocurrencies. As we have seen from the price history, Litecoin has struggled to grow compared to Bitcoin. Although it is one of the oldest coins in the market, cryptos that came several years after it are doing What is Litecoin much better. For instance, Ethereum, which came around in 2015 (around four years after Litecoin), is now trading above $3,300. It took several months for the price to rise and only went above $100 again in May 2019. In early 2020, Litecoin, like most other cryptocurrencies, was affected by the coronavirus crash that intensified around March.

Litecoin is used by many businesses and individuals all over the world, and it has a strong community of supporters. If you’re looking for an alternative to Bitcoin, Litecoin could be a good choice. Despite the various rise and fall in price, Litecoin has a strong long-term price trajectory and the outlook that suggests that Litecoin’s potential is extremely high as a stablecoin. Bitcoin, on the other hand, is capped at 21 million, making it more limited in supply.

What is Litecoin and How Does it Work?

The widely used research site’s decision to exclude average price data from Bithumb, Coinone and Korbit resulted in a sudden drop in displayed prices. The cryptocurrency is worth £228 today on May 4 at midday, according to Coinbase. There are no guarantees that you can convert your crypto assets back to cash.

Once you decide on an exchange for buying Litecoin and credited your account with fiat currency, you’re ready to make your first Litecoin purchase. Over the years, Litecoin has experienced steady growth and development, with a strong community of advocates backing the currency. And despite various ups and downs along the way, Litecoin continues to be one of the most popular cryptos available today.

Litecoin is a peer-to-peer cryptocurrency that shares similarities with Bitcoin. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. Considered the biggest competitor to Bitcoin as a serious cryptocurrency, Ethereum is actually a network which allows computer applications to run on it. Since this cryptocurrency is relatively stable in its value compared to the Bitcoin, the market for LiteCoin gambling is almost of the same size casino wise as it is for Bitcoin.