litecoin in most common definition is an additional cryptocurrency that look alike bitcoin but it's newer than it. litcoin was created in 2011 by Charlie Lee, a MIT graduate and former Google engineer. it's similar to any other cryptocurrency that litecoin is a digital currency which can be traded with market and ledger so the authority of litecoin's holder is our responsibility to have. no other authorities has the control over our litecoins because we own them, literally. among other cryptocurrencies, litecoin has its own advantages compared to its old competitive bitcoin. yes we may find the value of litecoin isn't as big as bitcoin had. litecoin has relative small value of price and now it's about $143.24619 for the last 24 hours low and $150.59312 for the last 24 hours high.
some says that litecoin is younger sibling from bitcoin and may take the moves, impact in the market similarly. if bitcoin is the gold then litecoin is the silver, that's the simple example. we know that silver has cheaper price than gold and so with litecoin it has cheaper price than bitcoin. if we compare it with simple calculation, 1 btc is equal to 58 times of litecoin. regular traders who use cryptocurrencies for their daily trading has the names with simple way and litcoin is usually pronounced as ltc. one thing we must know about litecoin that it stands as altcoins means it's one of alternative coin because bitcoin is the first pioneer of the cryptocurrency market.
benefits of using litecoins
1. compared to bitcoin that has 21 million coins, ltecoin’s fixed maximum is 84 million coins so the chance to grow bigger and richer is clear with litecoin.
2. litecoin takes faster period of time to generate a block and solve the problem with higher technology compared to bitcoin.
3. its price is cheap and everybody can buy it. so the opportunity is wider even for beginners.
4. litecoin existed since 2011 and bitcoin since 2009. means that we still can catch up with litecoin better than bitcoin.
5. litecoin is able to earn bigger hashesrate per second rather than bitcoin and use better, latest interface of miners. (if we're mining litecoin)
6. litecoin price surged about 1000% in 2016.
7. litecoin is the first altcoin, making it as bitcoin first partner in cryptocurrency market.
8. compared to bitcoin that uses SHA-256, litecoin uses script algorithm and this make litecoin mining process faster.
9. every 2.5 minutes, a litecoin block is mined, and 25 coins are generated, which makes 14,400 litecoins per day.
10. smaller fees per transaction made.
because we know it's the first alternative coin after bitcoin, then we must try to make a move with litecoin if we think we've missed a lot of opportunity with bitcoin and its price already expensive to purchase even for now. it's okay for us to buy litecoin for now so we won't regret later because this is a promising coin to invest with good money and good prospect in cryptocurrency market. and remember that litecoin is created not to overrated bitcoin but play another role as supportive coin and a secondary alternative in case if we don't want to invest our money with another coins.
does it make litecoin similar to bitcoin? of course not.
how can we buy litecoins now to follow up with current market?
have you heard about coinbase? yes with them we can buy litecoins in easy way and cheap too based on current market flows. make sure that your country is allowed to use coinbase and its not blocked because if it does then we should try to figure it out how to make our transactions of litecoin. i don't know about blockchain as alternative place but i prefer to use changelly instead. there we can exchange our coins to litecoin or make money transactions as well to buy or sell the coins right away. there are so many other websites out there who provide such service of buying and selling litecoin for currency but i think that 2 are enough as examples.
how to keep our coins if we don't trust enough with any public ledger out there?
consider purchasing hardware wallet is the best solution for this. the look is like usb flashdisk but there we can keep our coins and make it as physical wallet in small and simple gadget. it has a cheap price too and i'm sure for those who always trade in cryptoccurency market is able to spend at least $100 for this. this device name is ledger nano s. it's recommended as startup not because of its cheap price but also competitive functions yet helpful for traders to make their coins transactions become faster and easier. simply plug in the device and boom, money transferred.
thanks for reading my whole thread. talking about this thread, are you guys got some informations regarding to litecoin and interested to invest with it? don't hesitate to buy from now and invest your money there. if in few years back it could went up about 1000% in a single year after then what about the next years from now? i think you guys should do the math. as my last explanations i'm going to share some good advice about litecoin in case if you guys still missing the points.
if you're full aware of litecoin increasing price, take some real actions and start investing your money with it. don't just sit tight there while eating popcorn and let the price going up to the moon.
it's still fine for us to get left behind for 3 years if we haven't start anything yet with litecoin. remember, never say too late.
don't listen to rumors and false information out there which telling litecoin won't last long and start to scattered easily. many of those informations are fake and weak, only creates space for speculators to manipulate the price and make small investors getting confused.
one simple screenshot explains the comparisons between litecoin and bitcoin.
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