LTC
Reputation Ratings

LTC

Litecoin 10-15 years
Website https://litecoin.org/
Browser
OTH RELPs
Github
White Paper
Avg Price
+1.43%
1D

$ 85.72 USD

$ 85.72 USD

Market Cap

$ 7.1505 billion USD

$ 7.1505b USD

24h trading volume

$ 1.2991 billion USD

$ 1.2991b USD

7d Vol

$ 6.0075 billion USD

$ 6.0075b USD

Circulating supply

74.302 million LTC

Related information

Issue Time

2011-11-09

Platform pertained to

--

Current price

$85.72USD

Market Cap

$7.1505bUSD

Volume of Transaction

24h

$1.2991bUSD

Circulating supply

74.302mLTC

Volume of Transaction

7d

$6.0075bUSD

Change

24h

+1.43%

Number of Markets

1128

Github Messages

More

Warehouse

None

Github's IP Address

[Copy]

Codebase Size

0

Last Updated Time

2013-12-05 19:50:23

Language Involved

--

Agreement

--

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Historical Price

Introduction

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3H

+0.09%

1D

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1W

+1.85%

1M

+2.62%

1Y

+4.54%

All

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Aspect Information
Short Name LTC
Full Name Litecoin
Founded Year 2011
Main Founders Charlie Lee
Support Exchanges Bitfinex, Binance, Coinbase, Kraken,Huobi global,Bittrex,Gemini,etc.
Storage Wallet Hardware Wallet, Desktop Wallets, etc.
Customer support contact@litecoin.org

Overview of LTC

Litecoin (LTC), founded in 2011 by Charlie Lee, is a peer-to-peer cryptocurrency designed for instant, near-zero cost payments anywhere in the world. It operates as an open-source, fully decentralized global payment network, independent of any central authorities.

Utilizing blockchain technology, Litecoin offers faster transaction confirmation times and improved storage efficiency compared to Bitcoin. Its blockchain can handle a higher transaction volume due to more frequent block generation.

LTC, which is neither an NFT, fan, DeFi, nor game token, is widely supported by various storage wallets, including hardware and desktop wallets, and is traded on major exchanges like Bitfinex, Binance, and Coinbase.

With its substantial industry support and liquidity, Litecoin is recognized as a reliable medium of commerce, complementing Bitcoin.

To obtain more information, you can visit their website:https://litecoin.org/ and try to log in or register to use more services.

Overview

Pros and Cons

Pros Cons
Fast transaction processing Less widespread acceptance compared to Bitcoin
Integration with Segregated Witness and Lightning Network Potential vulnerability to quantum computing
Supported by various exchanges Lower market capitalization than Bitcoin and Ethereum
Can be stored in multiple wallets Not as extensively used for retail transactions

Pros:

1. Fast Transaction Processing: One of the key distinguishing features of Litecoin is its ability to handle high volumes of transactions quickly. Leveraging a different algorithm than Bitcoin, transactions in LTC can be processed approximately four times faster. This expedites the speed at which transactions can be confirmed, enhancing the overall usability of the network.

2. Integration with Segregated Witness and Lightning Network: Litecoin also integrates with advanced technologies like Segregated Witness and Lightning Network. Segregated Witness (SegWit) helps increase the block size limit on a blockchain by removing signature data from Bitcoin transactions, thereby enhancing the efficiency and speed. The Lightning Network, on the other hand, is a “second layer” payment protocol that operates on top of a blockchain and considerably increases transaction speed.

3. Supported by Various Exchanges: Litecoin enjoys wide support on several leading cryptocurrency exchanges, including Bitfinex, Binance, and Coinbase, among others. This broad exchange support boosts its liquidity and accessibility for traders and investors around the world.

4. Multiple Wallet Support: In addition to being supported on various exchanges, Litecoin can also be stored in multiple types of wallets. This includes physical hardware wallets such as Ledger, and software-based wallets like Exodus.

Cons:

1. Less Widespread Acceptance Compared to Bitcoin: Although Litecoin holds a strong position in the world of cryptocurrencies, it still doesn't have the same level of acceptance as Bitcoin. Some sectors and businesses that accept Bitcoin don't accept Litecoin.

2. Potential Vulnerability to Quantum Computing: Just like other cryptocurrencies, LTC could face potential risks from the advent of quantum computing. If these computers become a reality, they could potentially break the cryptographic algorithms that keep Litecoin secure.

3. Lower Market Capitalization than Bitcoin and Ethereum: Litecoin's market capitalization is significantly lower than that of Bitcoin and Ethereum. This lower market cap could potentially make LTC more susceptible to market volatility.

4. Not as Extensively Used for Retail Transactions: Although Litecoin gets recognized as silver to Bitcoin's gold in the digital world, it's not extensively used in retail transactions. This infrequent use is likely due to fewer partnerships with merchants and retailers compared to Bitcoin or Ethereum.

LTC Wallet

The official Litecoin (LTC) wallet is designed for the LTC community, offering a secure way to manage, send, receive, and store Litecoin.

It's user-friendly for both experienced and new cryptocurrency users. The wallet features an easy-to-use interface and is available on iOS and Android, allowing downloads from the Apple App Store or Google Play Store.

There's also a desktop version for those who prefer a larger screen, providing a smooth experience on both mobile and computers. With its focus on security, ease of use, and multi-platform availability, the official Litecoin wallet is vital for anyone in the Litecoin ecosystem.

What Makes LTC Unique?

Litecoin (LTC), since its inception, brought about several improvements compared to its predecessor, Bitcoin. While it operates on a similar fundamental technology, Litecoin has innovatively altered aspects to offer its unique features.

Firstly, transaction speed in Litecoin is one of its most notable innovations. Blockchain technology underlying Bitcoin requires around 10 minutes to create a block, while Litecoin's network, using a different hashing algorithm (Scrypt), substantially decreases this time to only 2.5 minutes. As a result, four times as many blocks are added to the Litecoin Blockchain in the same amount of time as Bitcoin, making transaction processing and confirmation faster.

Another innovation Litecoin introduced is incorporating the Segregated Witness (SegWit) and Lightning Network technologies. SegWit helps increase the block size limit, thereby enhancing efficiency, whereas the Lightning Network considerably increases transaction speed.

However, despite the innovative elements, Litecoin shares some similarities with other cryptocurrencies, like susceptibility to quantum computing threats and price volatility due to market fluctuations. It is also yet to parallel Bitcoin's acceptance level universally, reflecting in a lesser presence in retail transactions.

Thus, while Litecoin has carved its niche in transaction speed and advanced technologies, it also faces challenges seen in other digital currencies.

Market & Price

Coin airdrop

The most recent Litecoin (LTC) airdrop was the Flare Networks Spark (FLR) airdrop in June 2023. This airdrop was to promote the launch of Flare Networks, a smart contract platform that is compatible with Litecoin and XRP.

All Litecoin holders who held their LTC in a supported wallet at snapshot time were eligible to receive FLR tokens.

circulation

Litecoin (LTC) is a cryptocurrency that is similar to Bitcoin, but it has a faster block time and a smaller block size. This makes it more scalable and efficient, and it is seen as a more affordable option than Bitcoin.

The price of LTC has been fluctuating significantly in recent months. As of September 15, 2023, LTC is trading at around $75.26, down from a high of over $300 in May 2021.

The total circulating supply of LTC is 84 million tokens. There is no mining cap for LTC, so the supply could theoretically increase indefinitely. However, the Litecoin Foundation has said that they will implement measures to control the supply if necessary.

How Does LTC Work?

Litecoin (LTC) is a peer-to-peer cryptocurrency . It is based on the Bitcoin codebase. LTC is designed to be a more efficient and scalable alternative to Bitcoin. It is also seen as a more affordable option, with a current price of around $50 per coin.

LTC works in much the same way as Bitcoin. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. To send LTC, you need to specify the recipient's public key and the amount of LTC you want to send. You also need to pay a transaction fee.

The transaction fee is used to incentivize miners to verify transactions and add them to the blockchain. The fee is typically very small, but it can vary depending on network congestion.

LTC transactions are typically confirmed within a few minutes. However, the confirmation time can vary depending on the network conditions.

Exchanges to Buy LTC

1. Binance: Binance is a global cryptocurrency exchange that provides a platform for trading various cryptocurrencies. It supports pairs such as LTC/ETH, LTC/BTC, LTC/USD, and LTC/USDT.

See this link for details on how to buy LTC:https://www.binance.com/en-GB/how-to-buy/litecoin

How to buy LTC?
How to buy LTC?

2. Coinbase: This is a digital currency exchange based in the US that brokers exchanges of Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin with fiat currencies. On Coinbase, Litecoin can be traded against BTC, USD, and EUR.

See this link for details on how to buy LTC:https://www.coinbase.com/how-to-buy/litecoin

How to buy Litecoin (LTC):

To buy Litecoin (LTC) on Binance, first create and verify an account on the Binance website or app. Choose your preferred purchasing method, such as using a credit/debit card, bank deposit, or third-party payment channels, to buy LTC directly or through a stablecoin like USDT for better compatibility.

Once purchased, you can store LTC in your personal crypto wallet or hold it in your Binance account, with options to trade it for other cryptocurrencies or stake it on Binance Earn for passive income.

3. Bitfinex: This is a Hong Kong-based cryptocurrency exchange offering trading in a huge number of cryptocurrency pairs. Bitfinex supports LTC/BTC, LTC/USD, and LTC/USDT pairs.

4. Kraken: Kraken is a US-based cryptocurrency exchange and bank, it offers LTC trading against several fiat currencies like USD, EUR, GBP, as well as against BTC.

5. Huobi Global: Huobi is a Seychelles-based cryptocurrency exchange. It offers various LTC trading pairs, including LTC/USDT, LTC/BTC, LTC/HUSD, LTC/ETH.

6. Bittrex: Based in the United States, Bittrex offers LTC trading against fiat currencies like USD and against digital currencies like BTC and ETH.

7. Gemini: A US-based exchange that offers trades in various cryptocurrencies including Litecoin. Here, LTC can be traded against USD.

8. Poloniex: Poloniex is a cryptocurrency exchange that offers over 100 bitcoin (BTC) markets available for trading. Here, LTC/BTC, LTC/USDT, and LTC/USDC pairs are supported.

9. OKEx: OKEx is a Malta-based world-leading cryptocurrency exchange. It supports LTC/USDT, LTC/BTC, LTC/ETH, LTC/USD trading pairs.

10. eToro: eToro is a social trading and multi-asset brokerage platform that allows users to trade currencies, commodities, indices, and stocks, as well as cryptocurrencies. Here, you can purchase LTC directly with USD.

Exchanges

How to Store LTC?

Litecoin (LTC) can be stored in a variety of wallets depending on the user's preferences, which can be divided into the following types of wallets:

1. Hardware Wallets: These are physical devices where users can store their private keys offline. These wallets allow users to make transactions online, but they are stored offline which delivers increased security. Ledger Nano S and Trezor are popular hardware wallets supporting Litecoin.

2. Desktop Wallets: These wallets are downloaded and installed on a PC or laptop. They are accessible only from the computer in which they are downloaded. Litecoin offers a Litecoin Core wallet that can be installed on your desktop.

3. Online Wallets: These wallets run on the cloud and are accessible from any computing device in any location. They are more convenient to access, but at the same time, they are prone to be hacked and may be less secure. Cryptocurrency exchanges like Coinbase and Binance offer wallets for Litecoin.

4. Mobile Wallets: These are smartphone-based software wallets. They have the advantage of making payments on-the-go directly from a mobile phone. Wallets like LoafWallet and Coinomi provide mobile support for Litecoin.

5. Paper Wallets: They are easy to use and provide a very high level of security. It involves printing out your public and private keys on a piece of paper which you then store and save in a secure place. The keys are printed in the form of QR codes which you can scan in the future for all your transactions. LiteAddress is an example of a paper wallet for Litecoin.

It is crucial to understand that any cryptocurrency wallet should be used with the utmost attention to security, including setting strong passwords and keeping backups of keys.

How to store?

Is It Safe?

When assessing the safety of Litecoin (LTC), it's important to consider various aspects:

  • Hardware Wallet Support: For enhanced security, Litecoin can be stored in hardware wallets. These devices provide offline storage, significantly reducing the risk of online threats like hacking or phishing. This compatibility with hardware wallets underscores LTC's commitment to secure storage options.

  • Exchange Security Standards: The safety of Litecoin also depends on the security measures of the exchanges where it is traded. Major exchanges that list LTC, such as Binance and Coinbase, generally adhere to high industry security standards. These platforms implement robust security protocols like two-factor authentication, encryption, and regular audits to safeguard users' assets and personal data.

  • Token Address Security: The transfer of Litecoin uses encrypted addresses, ensuring secure and private transactions. These addresses add a layer of security to each transaction, making it difficult to trace them back to individual users.

  • In summary, the safety of Litecoin involves a combination of secure hardware wallet storage options, the adherence of exchanges to high security standards, and the use of encrypted addresses for transactions. While these factors contribute to the overall security of holding and transacting LTC, users should always exercise due diligence and follow best practices for cryptocurrency security.

    How To Earn LTC?

    Earning Litecoin (LTC) can be approached through various strategies, each suited to different types of investors and their specific goals:

    • Mining: One of the traditional ways to earn LTC is through mining. Litecoin uses a proof-of-work algorithm, and by contributing computing power to the network, miners can earn LTC as a reward for validating transactions and securing the blockchain.

    • Long-term Investing: For long-term investors who believe in the future of cryptocurrencies, purchasing and holding Litecoin can be a way to potentially earn profits. This strategy involves buying LTC and holding onto it, hoping that its value increases over time.

    • Day Trading: Day traders can earn by capitalizing on Litecoin's price volatility. This requires a good understanding of the market and technical analysis to make profitable trades based on short-term price movements.

    • Participating in Litecoin's Ecosystem: Engaging in the Litecoin community, contributing to forums, and being active in its development can sometimes offer indirect ways to earn LTC, although this is less direct and more based on community initiatives and rewards.

    • Staking and DeFi Platforms: While Litecoin itself doesn't support staking in the traditional sense, some DeFi platforms might offer interest-earning accounts where users can deposit their LTC to earn interest over time.

    • Each of these methods requires a different level of expertise, risk tolerance, and involvement in the cryptocurrency space. It's essential for individuals to conduct thorough research and consider their financial situation and investment goals before attempting to earn LTC.

      Conclusion

      Litecoin (LTC), founded in 2011 by Charlie Lee, has been a pivotal player in the cryptocurrency market. With its faster transaction processing times, scalability and supportive advanced technologies like Segregated Witness and Lightning Network, it has carved its niche in the digital currency landscape. Despite being viewed as silver to Bitcoin's gold, it tends to experience less widespread acceptance and usage for retail transactions compared to Bitcoin.

      This volatility offers both opportunities for high returns but also substantial losses. Investors could potentially make money, especially if they buy at a low price point and sell at a higher one. However, it's key to highlight that this is not a guaranteed money-making strategy.

      As such, investing in Litecoin should be based on thorough research and understanding of the investment landscape. As with Bitcoin, Ethereum, or any other notable cryptocurrency, its ongoing development, as well as the overall acceptance and regulation of cryptocurrencies in general, will significantly influence its future prospects. It's worth watching the ongoing development of both Litecoin as a technology and the regulatory environment for cryptocurrencies before making an investment decision.

      FAQs

      Q: What differentiates Litecoin's transaction processing speed from others?

      A: Litecoin leverages a different algorithm, enabling it to process transactions nearly four times faster than Bitcoin.

      Q: What kind of wallet options are available for storing LTC tokens?

      A: LTC can be stored in various types of wallets including hardware wallets, desktop wallets, cloud-based wallets, mobile wallets, and paper wallets.

      Q: In a nutshell, how does Litecoin work?

      A: Litecoin operates under the proof-of-work consensus mechanism where miners solve computational puzzles to add transactions on the public ledger otherwise known as the blockchain.

      Q: What could the future prospects of Litecoin look like?

      A: The growth prospects of Litecoin are contingent on its technical advancements, universal acceptance of digital currencies, prevailing market conditions, and regulatory environment for cryptocurrencies.

      Risk Warning

      Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.

User Reviews

More

100 ratings

Participate in evaluation
zeally
LTC is widely traded on various cryptocurrency exchanges and is used for various purposes, including as a means of exchange and a store of value.
2023-12-19 13:36
8
Bwinner
This is not good as other main or popular coins this is not reach its pervious value after going down to 60 and all other coins are came back on its previous high rate
2023-11-23 02:10
5
Scarletc
LTC design choices aim to provide quicker transaction confirmation times and make it more accessible for regular users.
2023-11-20 22:43
4
Chinecheremnwodo
Mathematics secures the network and empowers individuals to control their own finances. Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency.
2023-11-14 17:29
2
SolNFT
Litecoin has undergone several halving events, reducing the block reward for miners.
2023-11-02 05:23
2
Joy222
I don't recommend this at all thank you.
2023-07-06 02:07
0
sania752
LTC is really stable coins although little variation are in every digital currency. thanks you
2023-06-19 20:06
2
leofrost
I appreciate Litecoin (LTC) for its role as a reliable cryptocurrency, often considered the silver to Bitcoin's gold. With faster block generation and a committed development team, I see LTC as a valuable asset for efficient transactions and a proven store of value.
2023-11-22 03:53
2
Dan3450
Litecoin continues to be a prominent and relevant cryptocurrency in the ever-changing digital asset landscape. Its historical performance and dedication to technical advancements make it a cryptocurrency investors and those interested in using digital currencies for transactions should consider.
2023-10-30 19:52
4
SolNFT
Litecoin's primary advantages is its faster transaction confirmation times
2023-10-26 20:12
6
Dory724
Litecoin offers faster transaction confirmation times compared to Bitcoin, making it more attractive for daily payments.
2023-11-02 00:37
9
Jay540
LTC a bit Stable..
2023-10-26 18:21
6
giwin
Why is it so difficult to use this? I'm confused
2023-09-06 14:43
7
Faaah
I lost a lot of my money in this token:( #ltc
2023-08-24 13:35
9
wu97211
The trading fees of the Litecoin trading platform are relatively low, but its interface is too complex, making it slightly difficult for beginners to get started. Although there are some shortcomings, overall it is still satisfactory.
2024-03-08 18:16
7
Lala27
Litecoin is a decentralized peer-to-peer cryptocurrency and open-source software project. It works on a p2p Peer Peer network and an excellent alternative to fiat currency. It is good to hold for newbie in crypto
2023-11-26 19:43
2
SolNFT
Transaction fees are generally lower than Bitcoin's as well.
2023-11-24 07:39
4
Dazzling Dust
Litecoin, conceived by Charlie Lee in 2011, is often dubbed the "silver to Bitcoin's gold," featuring faster block generation and utilizing the Scrypt hashing algorithm.
2023-11-19 07:58
7
Jenny8248
With a solid track record and a dedicated community, LTC remains a reliable and widely accepted digital currency. While it may not have the same level of attention as Bitcoin, Litecoin's stability and history make it a strong contender in the cryptocurrency market.
2023-11-06 23:25
8
SolNFT
litecoin uses a different hashing algorithm (Scrypt) that allows for faster block
2023-10-27 13:40
5

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