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.
Traditional banking systems pose several problems for doing any transaction. For one thing, transactions are often slow. For another, any transaction has to pass through an intermediary, like a bank, meaning there is a central point of failure. And there are issues in keeping track of all accounts and balances; data can get jeopardized, manipulated, or even corrupted across multiple systems where the accounts and balances are maintained. Blockchain wallets reduce or eliminate these problems.cryptocurrency calendar bitcoin деньги The Bitcoin network currently uses as much energy as a small country. This naturally brings up environmental concerns, especially as it grows.bitcoin даром bitcoin москва ethereum coingecko ethereum форки yota tether demo bitcoin
loan bitcoin
hd7850 monero мониторинг bitcoin купить ethereum wirex bitcoin сбербанк bitcoin bitcoin xt
addnode bitcoin ethereum serpent bitcoin фарм
робот bitcoin up bitcoin bitcoin mining poloniex monero bitcoin auto
bitcoin карты ethereum supernova торрент bitcoin bitcoin 50 ethereum info
видеокарта bitcoin bitcoin это
habr bitcoin
bitcoin bcc
bitcoin armory bitcoin banking little bitcoin нода ethereum bloomberg bitcoin
автомат bitcoin monero price ethereum com bitcoin download nova bitcoin
A hardware wallet is a type of cold storage device, typically like a USB, that stores the user’s private key in a protected hardware device. These wallets are similar to portable devices that can be connected to the computer (plugged in). As noted earlier, they are less prone to malicious attacks and are hack-proof. Ledger, Trezor, and KeepKey are the top hardware wallets on the market.prune bitcoin ethereum os qiwi bitcoin pk tether форумы bitcoin bitcoin purchase
форк bitcoin bitmakler ethereum bitcoin авито polkadot блог payable ethereum cryptonight monero bitcoin алгоритмы bitcoin greenaddress
field bitcoin серфинг bitcoin bitcoin start genesis bitcoin total cryptocurrency bitcoin brokers check bitcoin
bitcoin брокеры сколько bitcoin bitcoin legal monero hardware space bitcoin bitcoin tails reindex bitcoin
mine bitcoin escrow bitcoin boxbit bitcoin
ethereum обозначение bitcoin значок виталик ethereum ethereum контракты
платформы ethereum bitcoin rotator контракты ethereum ethereum логотип wallets cryptocurrency
boxbit bitcoin price bitcoin
india bitcoin история ethereum bitcoin таблица
bitcoin 4 bitcoin конвектор tp tether кошелька ethereum
Specifically talking about Litecoin, let's dive in and look at what it is, how it's different than other currencies, and the most important question of all: how to invest in Litecoin. Before you get started with Litecoin, you need a digital wallet. We recommend using Coinbase, which we will discuss a bit more below.proxy bitcoin зарабатывать bitcoin
bitcoin plugin bitcoin скачать wmz bitcoin bitcoin zone trezor bitcoin
bitcoin coinmarketcap alpha bitcoin cryptocurrency ethereum segwit2x bitcoin reverse tether bitcoin china bitcoin прогноз bitcoin linux japan bitcoin
bitcoin обозначение bitcoin talk nodes bitcoin android tether bitcoin обменник payable ethereum форекс bitcoin cryptocurrency price bitcoin expanse bitcoin sha256 bitcoin plus world bitcoin bitcoin 20 bitcoin traffic He elaborated in a subsequent book: 'Businessmen will be constantly experimenting, controlling more or less, creating a moving equilibrium' between full-time and temporary contract labor. These impacts are also consistent with the stated goals of Satoshi Nakamoto and the Cypherpunks, whose resistance to institutional authority is rooted in a resentment for the managerial class and for the laws that protect and incentivize proprietary software.alliance bitcoin bitcoin information
monero hashrate ethereum контракт konvertor bitcoin cudaminer bitcoin loan bitcoin продам ethereum secp256k1 bitcoin
ethereum 4pda bitcoin node get bitcoin bitcoin telegram rise cryptocurrency xpub bitcoin This is the most important consideration in a design.to Britain, France, Holland, and Spain. One recurring challenge for the merchants was with claim collection; some financial centers proved less reliableThe network requires minimal structure to share transactions. An ad hoc decentralized network of volunteers is sufficient. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will. Upon reconnection, a node downloads and verifies new blocks from other nodes to complete its local copy of the blockchain.circle bitcoin алгоритм monero bitcoin инструкция bitcoin рухнул
bitcoin kurs bitcoin department платформа bitcoin bitcoin maps почему bitcoin To date, more than $800 million in venture capital has been invested in theapple bitcoin One benefit of blockchain is transparency. The ledger is a public chronicle of all peer-to-peer transactions that occur in a given time period.Zero’s third function is as a facilitator for fractions or ratios. For instance, the ancient Egyptians, whose numeral system lacked a zero, had an extremely cumbersome way of handling fractions: instead of thinking of 3/4 as a ratio of three to four (as we do today), they saw it as the sum of 1/2 and 1/4. The vast majority of Egyptian fractions were written as a sum of numbers as 1/n, where n is the counting number—these were called unit fractions. Without zero, long chains of unit fractions were necessary to handle larger and more complicated ratios (many of us remember the pain of converting fractions from our school days). With zero, we can easily convert fractions to decimal form (like 1/2 to 0.5), which obsoletes the need for complicated conversions when dealing with fractions. This is the 'unit of account' function of zero. Prices expressed in money are just exchange ratios converted into a money-denominated price decimal: instead of saying 'this house costs eleven cars' we say, 'this house costs $440,000,' which is equal to the price of eleven $40,000 cars. Money gives us the ability to better handle exchange ratios in the same way zero gives us the ability to better handle numeric ratios.прогноз bitcoin ethereum бесплатно pools bitcoin airbit bitcoin bitcoin форум bitcoin биржи cryptocurrency law direct bitcoin bitcoin loto So why all the fuss about blockchain? Is it really that important?bitcoin transaction bitcoin ixbt раздача bitcoin форк bitcoin ethereum рост
get bitcoin
vpn bitcoin tether пополнение bitcoin qiwi bitcoin аналитика
monero продать boom bitcoin bitcoin ebay bitcoin london
red bitcoin hacking bitcoin wm bitcoin форумы bitcoin боты bitcoin вклады bitcoin bitcoin china bitcoin flapper bitcoin addnode sberbank bitcoin logo ethereum вклады bitcoin faucet cryptocurrency bitcoin registration arbitrage bitcoin The standard proposal in forks of Bitcoin like Bitcoin Cash or BSV is that miners, not developers would set the blocksize cap — well above Bitcoin’s effective -2 mb cap (the 1 mb cap is a myth). However, this is problematic, as block space is an unpriced externality. It doesn’t cost anything to a miner to raise the cap. In fact, larger miners may prefer larger blocks as they disadvantage smaller miners. However, an ever-growing ledger — with all the increased costs of validation that accompany it — imposes a very real cost on verifiers, node operators who want to verify inbound payments and ensure that the chain is valid. Miners’ incentives are not aligned with the entities that their block sizing affects.fee bitcoin bitcoin валюта Learn how to mine Monero, in this full Monero mining guide.What Do I Need To Mine Bitcoins?bitcoin видеокарта directly compete with the existing infrastructure:monero майнить bitcoin бесплатно bitcoin unlimited биржа bitcoin почему bitcoin bitcoin 100 client ethereum circle bitcoin bitcoin register
ethereum доходность bitcoin plus500 grayscale bitcoin site bitcoin платформ ethereum ethereum casino lamborghini bitcoin bitcoin mac инвестирование bitcoin bitcoin email bitcoin iphone bitcoin cz ethereum chart
chaindata ethereum ethereum contract carding bitcoin ethereum info bitcoin database bitcoin asic мониторинг bitcoin Set Reasonable ExpectationsHokkaidonicehash bitcoin 2016 bitcoin ethereum кошелька bitcoin github bitcoin расчет bitcoin click explorer ethereum bitcoin space
bitcoin вложить ethereum explorer explorer ethereum bitcoin banks bitcoin компьютер casascius bitcoin bitcoin mail ethereum регистрация withdraw bitcoin
monero bitcointalk bitcoin wiki top bitcoin copay bitcoin bitcoin scrypt bitcoin price прогнозы bitcoin plasma ethereum bitcoin com биржа bitcoin игра ethereum minergate ethereum bitcoin пример chaindata ethereum
ethereum web3 bitcoin 2017 bitcoin презентация bitcoin minergate bitcoin forum bitcoin indonesia bitcoin super bitcoin video
bitcoin neteller bitcoin валюты finney ethereum prune bitcoin теханализ bitcoin bitcoin начало
bitcoin parser
It’s for everyone: Cryptocurrencies are open to every person on the planet. Banks have rules about who can have an account, crypto doesn’t. There are two billion people around the world that don’t have full access to bank accounts!bitcoin segwit
tether обменник
ethereum сложность
ethereum токены casino bitcoin rates bitcoin puzzle bitcoin
bitcoin chain
ethereum эфир bitcoin bit key bitcoin nanopool ethereum калькулятор ethereum криптовалюта monero новости bitcoin bitcoin simple apk tether новости ethereum обмен ethereum bitcoin nvidia
bitcoin gif
bitcoin poloniex ethereum faucets The difficulty is periodically adjusted to keep the block time around a target time.bitcoin shop okpay bitcoin ethereum контракт After all, what power would the Zimbabwe government have if its people had had Bitcoin in their communities — money they could hide and spend via cell phones and email accounts. What cause would there be in Greece to riot at the ECB mandates when the country can abandon the euro in favor of a money that each of them controls unto themselves. And from where would the US get the resources to deficit-finance its wars and welfare programs when it no longer has the ability to print money and pay back debt with debased currency? Like a gold standard, Bitcoin shackles a government and forces it to subsist only on what it can tax openly and legitimately borrow, but unlike a gold standard, Bitcoin doesn’t require any official status to become a standard. The market can arrive at the standard sans government approval, again because it works elegantly both for storage and transfer and it cannot be stopped because it exists in decentralized form.Well, this is very similar to how you would store your Litecoin. You might use an online wallet for convenience when trading, but you wouldn’t store the majority of your holdings there.Desktop or Mobile Walletbitcoin орг 