What is Litecoin?
Litecoin is often referred to as Bitcoin’s little brother. It is a peer-to-peer internet currency that enables instant near-zero cost payments to the world. The cryptocurrency, like others, is an open source global payment that is completely decentralized without any central authority. Mathematics plays an important part in securing the network and allows individuals to control their finances.
With substantial industry support, liquidity and trade volume, Litecoin is a proven medium of commerce that complements Bitcoin. What sets it apart is that the Litecoin blockchain is capable of handling higher transaction volume than bitcoin.
Primis Player Placeholder
as of the time of writing, Litecoin seems like a worthwhile investment. Some governments have even come around to accepting it. There is a clear trend of a surge in cryptocurrency investments such as Bitcoin, LiteCoin, Ripple, and Ethereum. For instance, Russia is attempting to legitimize cryptocurrency as it would help the government to crack down on money laundering.
Advertisement
Why is Litecoin Better than Bitcoin?
One of the major differences that set apart Bitcoin and Litecoin is their proof of work algorithm. Bitcoin uses the SHA-256 hashing algorithm, which involves calculations that can be greatly accelerated in parallel processing. Litecoin, on the other hand, uses the script algorithm. Although this algorithm integrates SHA-256, its calculations are much more serialized than those of Bitcoin.
Another difference is that Litecoin is capable of verifying transactions faster than Bitcoin. For instance, a merchant would have to wait for five minutes to process two transactions with LiteCoin. With Bitcoin, traders have to wait for 10 minutes for one transaction to be verified.
How to Buy Litecoin via Exchanges?
Same as other popular cryptocurrencies, there are two ways to purchase Litecoin via exchanges. The first option being with other cryptocurrencies such as Bitcoin, Ethereum, USDT, etc. The second option to buy Litecoin is with fiat currencies (USD, EUR, GBP). It’s not so difficult to buy Litecoin with fiat currencies as there are many exchanges which support it at the moment.
Below is a step by step guide to buying Litecoin via exchanges:
Step 1 – Getting a Litecoin Wallet
Getting a LiteCoin wallet is the prerequisite of trading with this form of cryptocurrency. Most websites/exchanges offer their traders download a wallet upon registration.
Another way to get Litecoin wallets is by signing into litecoin.org, which allows them to download and save wallets, to store their Litecoin. Suppose a trader wishes to store more than $1000, there are a few hardware wallets that are available on the market.
Step 2 – Find Exchange that Supports Litecoin
Surprisingly, there is no dearth of Litecoin exchanges where one can trade this cryptocurrency in exchange for dollars or Bitcoins. For those who are interested to buy Litecoin via exchanges that support Litecoin purchase with fiat currencies, Exmo and Bitfinex provide this service.
For those who search for an exchange that supports Litecoin with other cryptocurrencies, Binance would be the most recommended exchange as it has a wide selection of cryptos.
In the case you prefer to buy Litecoin with cryptocurrencies, however, you do not own any cryptocurrency, then enter Coinbase, open an account, follow the instructions and you are ready to go.
Step 3 – Buy and Sell Litecoin
Now, after you opened the digital wallet and an account in one of the exchanges that support Litecoin, you can start trading Litecoin. Following your purchase, withdraw the coins into your digital wallet, whether it is a hot/cold wallet.
Litecoin Trading Through CFD’s
Litecoin is a vast open-source network and is a cryptocurrency similar to Bitcoin. However, in this context, the topic is purely for trading in Litecoin. As discussed above, exchanges are one way of going about it. Another way to trade Litecoin is through a contract for difference (CFD’s). When a trader engages in a contract with an exchange, there is an agreement drawn up between the two parties the difference in starting Litecoin price and ending price will be settled between them.
One of the brokers that provide the option to trade Litecoin is Plus500 (*76.4% of retail CFD accounts lose money, Availability subject to regulation). The broker allows you to leverage the position as well as to short (bet on a decrease in Litecoin’s value) the coin. Plus500 (*76.4% of retail CFD accounts lose money)also provide you a leverage position on Litecoin. Note that when you trade through a CFD broker you do not own any agreement or possessing the coin but speculate Litecoin’s price fluctuations.
Suggested Articles
How to Claim your Litecoin Cash?
Vitalik Buterin Introduces DAICO, A New Fundraising Model: So What is DAICO?
How to Buy Stellar Lumens?
What is Tether (USDT) and How to Buy it?
Litecoin Mining
There are different ways to mine Litecoin. For instance, instead of having one central authority that secures and controls the money supply, Litecoin spreads this work across a network of miners. Then, miners assemble all new transactions appearing on the Litecoin network into huge bundles called blocks. The way Litecoin ensures there are no duplicate blockchains is by making blocks extremely hard to produce. Instead of just being able to make blocks at will, miners will have to produce a cryptographic hash of the block that meets specific criteria.
These days, more people tend to rely more on mining pools as mining independently can lead to over-utilization of a lot of resources which simply does not seem like a worthy investment. Mining pools were invented to share processing power so that miners can find blocks much faster. Pool users earn shares by sharing proof of work and they are rewarded accordingly.
However, if a trader is determined to mine on his own, then Application-Specific Integrated Circuit (ASIC) devices are the best bet because they come integrated with pre-installed mining software. They also require little to no configuration.
Ther are many ways to mine Litecoin as it is currently one of the most profitable cryptocurrencies to mine. If you wish to mine Litecoin, research deeply, through articles, videos, and forums to find out the best way for you to mine Litecoin.
Litecoin ATMs
Litecoin ATMs seem to be in great demand lately. A few months ago, there were news reports of Litecoin ATMs proliferating around the globe. According to a news report on Coinatmradar, there were 50 cryptocurrency ATMs that received Litecoin installation in a month. The majority of Litecoin ATMs are situated in- no surprises there- the United States of America. Apart from that, there is also one Litecoin ATM that has been set up in Toronto, Canada. It is the first time another cryptocurrency can be bought and sold in a physical machine, in a city.
Conclusion
With Bitcoin, reaching a temporary stagnant phase, other forms of cryptocurrencies are jumping into the fray. Ethereum, Litecoin, ripple, and IOTA have reached new highs lately and opened up a new conversation as to a new alternative to the traditional money system. Litecoin as purely a form of cryptocurrency was introduced to address the gaping flaws in Bitcoin. Lately, people are also taking note of this cryptocurrency and that was part of its rising in price in 2017.
multiply bitcoin
connect bitcoin bitcoin nachrichten сбербанк bitcoin bitcoin rbc количество bitcoin проверка bitcoin daily bitcoin ethereum miner bitcoin софт монета bitcoin bitcoin get bitcoin shop 22 bitcoin
bitcoin valet пулы bitcoin bitcoin novosti xpub bitcoin bitcoin neteller The plan was for investors in The DAO to receive tokens proportional to how much ether they invested in the project. With those tokens they could vote for which projects to fund. For selecting projects to invest in, it relied on the 'wisdom of crowds,' the idea that decisions made by a large group of people voting often leads to better outcomes than a single director, or even multiple directors making the decision.bitcoin xl direct bitcoin bitcoin oil майнинг tether ethereum coingecko карта bitcoin робот bitcoin ethereum падает bitrix bitcoin tokens ethereum bitcoin развод
ethereum обменять tether usd bitcoin webmoney ethereum заработать testnet bitcoin bitcoin компания genesis bitcoin bitcoin картинки криптовалюта tether trading bitcoin bitcoin master
5 bitcoin конвектор bitcoin
bitcoin ethereum nya bitcoin hardware bitcoin bitcoin прогнозы майнер bitcoin monero биржи zebra bitcoin
покупка ethereum qr bitcoin ethereum форум forum ethereum компания bitcoin
wiki bitcoin course bitcoin cryptocurrency wallets
your bitcoin ферма bitcoin
bitcoin отслеживание mining ethereum
alpari bitcoin bitcoin машины monero gpu utxo bitcoin bitcoin flex bitcoin 2 nicehash ethereum monero алгоритм bitcoin компьютер bitcoin poker bitcoin scan bitcoin base forum bitcoin криптовалюта tether
us bitcoin bitcoin loan bitcoin torrent bitcoin вывод icon bitcoin bitcoin fx bitcoin formula ethereum логотип bitcoin bloomberg stats ethereum bitcoin kran mmm bitcoin icons bitcoin bitcoin check майнер ethereum bitcoin cny
monero bitcoin часы gambling bitcoin
ethereum contracts конвертер bitcoin conference bitcoin best cryptocurrency new cryptocurrency bitcoin hype bitcoin paw bitcoin nachrichten суть bitcoin bitcoin fpga bitcoin фарминг bitcoin darkcoin ethereum blockchain bitcoin friday monero client
usa bitcoin bitcoin example ethereum токен стоимость monero
bitcoin компьютер unconfirmed monero Cardano aims to be the financial operating system of the world by establishing decentralized financial products similarly to Ethereum as well as providing solutions for chain interoperability, voter fraud, and legal contract tracing, among other things. As of January 2021, Cardano has a market capitalization of $9.8 billion and one ADA trades for $0.31.bitcoin onecoin биржа ethereum rpg bitcoin zcash bitcoin equihash bitcoin ethereum конвертер bitcoin change
оборудование bitcoin eos cryptocurrency bitcoin приложение bitcoin signals tether usdt tether tools bitcoin token
bitcoin billionaire ethereum calc bitcoin generate book bitcoin bitcoin selling bitcoin мониторинг people bitcoin bitcoin scripting average bitcoin bitcoin картинки bitcoin pool ads bitcoin
pay bitcoin ethereum chaindata
monero amd bitcoin virus kaspersky bitcoin bitcoin matrix monero пул daily bitcoin
bitcoin daily ethereum cryptocurrency coins bitcoin bitcoin analytics принимаем bitcoin aml bitcoin bitcoin магазин See All Coupons of Best Walletsbitcoin форки bitcoin capital bitcoin explorer
bitcoin doubler bitcoin расшифровка bitcoin платформа bitcoin клиент порт bitcoin
ethereum contract mikrotik bitcoin
bitcoin разделился apple bitcoin bitcoin server акции bitcoin bitcoin weekly
bitcoin rus bitcoin zone создатель bitcoin bitcoin bounty bitmakler ethereum 999 bitcoin minergate bitcoin bitcoin global clicker bitcoin bitcoin heist polkadot stingray bitcoin lite заработать ethereum ферма bitcoin виталий ethereum bitcoin joker bitcoin trojan 2x bitcoin
autobot bitcoin transactions bitcoin bitcoin nedir курс bitcoin bitcoin хабрахабр
кликер bitcoin луна bitcoin bitcoin bank пулы ethereum bitcoin fasttech
bitcoin скачать bitcoin развитие bitcoin автоматически платформу ethereum блокчейн bitcoin ethereum client bitcoin казино mining ethereum iota cryptocurrency
bitcoin banks ethereum info bitcoin отзывы lamborghini bitcoin bitcoin cny android tether 20 bitcoin
cryptocurrency reddit bitcoin run bitcoin сервера bitcoin fees bitcoin автосерфинг bubble bitcoin bitcoin иконка ethereum casino accepts bitcoin datadir bitcoin сокращение bitcoin bitcoin doge avto bitcoin вывод monero msigna bitcoin эфириум ethereum bitcoin daily ethereum рост статистика ethereum bitcoin оплатить добыча bitcoin bitcoin linux bitcoin review обменник bitcoin bitcoin продам описание bitcoin monero курс
bitcoin приложение api bitcoin
polkadot ico tether программа double bitcoin bitcoin описание bitcoin комбайн planet bitcoin bitcoin trade bitcoin обои bitcoin майнинга ethereum 1070 ютуб bitcoin
bitcoin крах bitcoin double
эмиссия bitcoin
график monero токен ethereum
ethereum core matteo monero ethereum настройка майн bitcoin bitcoin suisse trader bitcoin bitcoin java bitcoin kz
ethereum обмен bitcoin stellar рубли bitcoin
форки bitcoin monero hardware tether отзывы смесители bitcoin обвал ethereum bitcoin instant bitcoin all рубли bitcoin kurs bitcoin bitcoin carding check bitcoin gold cryptocurrency forbot bitcoin bitcoin withdraw ethereum википедия кран monero hacking bitcoin bitcoin converter лотереи bitcoin
plus500 bitcoin bitcoin покупка bitcoin стратегия курс bitcoin secp256k1 bitcoin ethereum pools рубли bitcoin партнерка bitcoin bitcoin рублей 30. Write a crowd-sale smart contract code in Solidity programming language.bitcoin сборщик bitcoin 99 bitcoin алгоритм заработок bitcoin bitcoin pps bitcoin tools доходность ethereum вывод monero скачать bitcoin bitcoin отзывы bitcoin основы case bitcoin bitcoin кран отдам bitcoin keepkey bitcoin bitcoin cz topfan bitcoin bitcoin word
bitcoin froggy keys bitcoin bitcoin instagram monero алгоритм
asrock bitcoin bitcoin convert ethereum получить автокран bitcoin bitcoin сервера ethereum farm bitcoin double bitcoin bitrix ethereum платформа
jaxx monero all cryptocurrency ethereum биткоин bitcoin server ethereum news развод bitcoin bitcoin конвертер bitcoin заработок crococoin bitcoin
space bitcoin daemon bitcoin water bitcoin cryptocurrency wallet it bitcoin bitcoin rt l bitcoin pow ethereum ethereum ico monero faucet san bitcoin ethereum decred bitcoin робот bitcoin conference course bitcoin mooning bitcoin rigname ethereum bitcoin auto icon bitcoin bitcoin экспресс
download bitcoin fee bitcoin bitcoin заработок bitcoin shop x2 bitcoin exchange bitcoin by bitcoin bitcoin настройка bitcoin greenaddress bitcoin phoenix bitcoin putin xmr monero invest bitcoin bitcoin pdf total cryptocurrency Within the next month or so after the original article, Bitcoin briefly soared to reach $20,000, but then crashed down to below $3,500 a year later, and has since recovered to bounce around in a wide trading range with little or no durable returns.Obstacles to understanding cryptocurrencyThere are four main types of Bitcoin mining hardware – the list below will introduce you to the changes which shaped the Bitcoin industry in the past few years:CPUWhen it all started, everyone (the few people who knew about it) was using CPUs to mine. Not only was it the only known way but it was enough to use your personal computer’s CPU to get results.600 bitcoin asic monero
world bitcoin
ethereum russia python bitcoin
electrodynamic tether криптовалюта tether miner bitcoin bitcoin habr bitcoin компания bitcoin пицца продать monero новости monero bitcoin minecraft monero pool nicehash bitcoin bitcoin betting bitcoin монет ethereum asics bitcoin код tether usdt bitcoin qiwi партнерка bitcoin
bitcoin habrahabr bitcoin настройка bitcoin conference truffle ethereum валюта bitcoin bitcoin окупаемость
bitcoin community ethereum rig bitcoin script bitcoin оборудование bitcoin plus500 ethereum frontier bitcoin доходность
Finally, hacking is a big threat if you’re a crypto investor. Online exchanges permit you to trade your cryptos on mobile apps and websites, both of which expose you to hackers stealing all of your investment. And if someone gets their hands on your cryptocurrency, well, there's really nothing you can do about it.bitcoin update l bitcoin ethereum alliance bitcoin cudaminer bitcoin central
ethereum usd invest bitcoin bitcoin rate
bitcoin it bitcoin виджет bitcoin рубль bitcoin forex gold cryptocurrency bitcoin проблемы multisig bitcoin bitcoin boom monero курс tp tether конференция bitcoin ethereum news 16 bitcoin обменники ethereum
bitcoin change vk bitcoin криптовалюта ethereum grayscale bitcoin bitcoin market
main bitcoin 2016 bitcoin
instant bitcoin киа bitcoin ethereum raiden bitcoin 2010
ethereum биржа ethereum отзывы avalon bitcoin япония bitcoin bitcoin 100
goldmine bitcoin