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What is Litecoin?

What is Litecoin?

Litecoin

LTC

What is Litecoin (LTC)?

After Bitcoin shocked the world in 2009, it began to draw numerous critics from competitors who thought they could do better. Charlie Lee -- the founder of Litecoin (LTC) -- is one such example of this. In essence, there are many similarities between Litecoin and Bitcoin with a few significant exceptions. 

Just like BTC, LTC is a peer-to-peer digital currency that enables transactions anywhere in the world quickly and affordably. Also like Bitcoin, Litecoin is open-source and decentralized. No central bodies control Litecoin, just complex algorithms that help to verify the network. The main difference between Bitcoin and Litecoin is the speed.

Litecoin is far faster in terms of transaction time than Bitcoin and also far more efficient for storage efficiency. Litecoin can do this due to a higher frequency of block generation. The Litecoin network was designed in a way that can support more transactions without the need to alter the software in any way. Hence, merchants get quicker confirmation times.

Both these qualities are the inspiration behind the name Litecoin. Despite the advantage of being a superior method of translation, Litecoin has failed to surpass Bitcoin’s popularity over the years but still maintains a loyal following. 

What is Litecoin price?

YouHodler aggregates prices from top centralized exchanges to provide an accurate Litecoin price and charts. 

Where to buy Litecoin?

The easiest way to buy Litecoin is to purchase it through a crypto app like YouHodler. Our universal cryptocurrency exchange service lets you convert any crypto, fiat, or stablecoin with competitive fees.

How to earn interest on Litecoin?

The best way to earn interest on Litecoin is by depositing it in a YouHodler savings account. Interest payments occur weekly and YouHodler features compounding interest. 

How to take a loan with Litecoin?

You can get a loan with Litecoin in stablecoins by depositing your Litecoin as collateral. YouHodler offers the best rates you can get anywhere. Don’t sell your crypto. Use it as collateral and keep its value for later. 

How to trade Litecoin?

Leverage market volatility to stack your crypto portfolio and trade Litecoin with Multi HODL. Multi HODL is a user-friendly tool to take advantage of market swings in either direction. Become an “active HODLer” today. 

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