What is Litecoin?

What is Litecoin?

Litecoin (LTC)

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Litecoin (LTC) is a decentralized online currency, which was created in mid-fall in October 2011. The founder of Litecoin is Charles Lee, he is active in social media and with LTC. He is a software engineer and lives in the California. Lee did mention that he graduated from one of the top leading technology-focused universities in the year 1999. At the current, Lee is working for an internet software company. He is quite happy about directing LTC to further improvement.

LTC can be used to buy goods like shirts and jewelry and can be used to purchase services like website development. Users are put at a significant advantage since LTC provides a comfortable, secure, and instant method for merchants to accept money. There will face no charges or fees to be paid. Users can be assured that every transaction is enlisted on a public ledger which is referred to as Blockchain. With LTC payments can be immediately done and verified. With Litecoin, you can send money anywhere and anytime to anyone instantly no matter where they are located on the globe.

How LTC works?

Litecoin works using security software that allows you to make payments as quickly as sending an email. You can send and store them safely and securely on your computer or your mobile device. There will only be 84 million Litecoins, which saves you from inflation that decreases the value of LTCs. This cryptocurrency has a stable, established marketplace consisting of many exchanges that handle tens of millions of dollars in LTC trades every day. You can use this trusted exchanges to buy/sell your dollars to Euros and other fiat currencies for LTC. The possibilities are endless There are a lot of crypt enthusiasts think that LTC has what it takes to be new e-commerce’s future.

Litecoin Video Explanation

Should I invest in LTC?

First of all, LTC is a clone of Bitcoin (BTC). A lot of crypto traders would like to recognize LTC as the silver and BTC as the gold. It is purposely created to make transactions faster and cheaper than BTC and focuses more or less on smaller transactions. According to crypto experts, before you invest in LTC, you should answer the question: What type of investor am I? Are you a trader or an investor?

LTC is activating SEGWIT, which is a scaling solution. It is an exciting news since SEGWIT is something that BTC wanted to implement between BTC core and BTC unlimited. SEGWIT makes transactions a lot quicker with low-cost fees. Like we have aforementioned before LTC has a solid foundation.  The LTC cryptocurrency has a huge community same with BTC and Ethereum (ETH).

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