Litecoin (LTC / Ł) is a рееr-tо-рееr сrурtосurrеnсу created by Charles Lee, a former Google employee.
It is similar to Bitcoin with a couple of improvments: Total number of Litecoins is 84 million Vs Bitcoin’s 21 million. Litecoins block time is 2.5 minutes VS 10 minutes in Bitcoin and the mining algorithm blocks the use of powerful ASIC miners.
Litecoin all time high was in December 18th 2017, at 360.93$ (the price one year before was $4.40, a 8200% rise). This was part of the amazing growth in the crypto markets in 2017.
Since Litecoin functions almost the same as Bitcoin, but faster and with lower cost of transactions, many users see it as a more viable option.
Bitcoin Vs. Litecoin – what’s the difference?
|Coin limit||21 Million||84 Million|
|Block time||10 minutes||2.5 minutes|
|Difficulty retarget||2016 block||2016 blocks|
|Block reward details||Halved every 210,000 blocks.||Halved every 840,000 blocks|
|Initial reward||50 BTC||50 LTC|
|Created by||Satoshi Nakamoto||Charles Lee|
|Creation date||January 3rd, 2009||October 7th, 2011|
How do you get Litecoin?
- You can trade Litecoin for other crypto.
- You can buy Litecoin for FIAT money.
- You can mine Litecoin.
But first get your Litecoin wallet
Before you buy any digital coin you should get a wallet to store the coin. It is not recommended to keep your coins for a long time on an exchange. There are many good wallets for Litecoin – you can learn more from our guide to Bitcoin and altcoins wallets 2018. However the best option is always a hardware wallet. the two leading hardwere wallets in the market are the Ledger Nano s and Trezor.
The Ledger Nano S is currently one of the best if not the finest hardware wallet with a screen. It can be used on any desktop computer or Android smartphone.
TREZOR (lunched on August 2014) was the first Bitcoin and Altcoins hardware wallet that offered secure cold storage plus the ability to spend coins with the convenience of a hot wallet.
Is Litecoin mining profitable?
If you are not doing it professionally then the short answer is no. Mining Litecoin today requires special computers with strong processing units that can solve the mathematical equations that support the blockchain. Also, the mining algorithms become more difficult, to prevent all of the coins being mined immediately. You can’t do it at home with your pc. If you’re interested in owning litecoin just buy some.
How to buy Litecoin using cash, a credit card or a wire transfer
F2F trades – You can buy Litecoin with cash from other people you may know or contacted using dedicated platforms. This kind of trade is called F2F trade (face-to-face). You can use dedicated groups on Telegram or Facebook, or you can use an online or an offline marketplace.
Online marketplace – On a P2P (a person-to-person) site or App you can locate people near you, or even from different countries, that want to exchange local currency into Litecoin. You can negotiate sellers, choose the rate, payment method and the overall terms of the deal. The leading service is LocalBitcoins; Most users are selling Bitcoin, however you can find a lot of useres who are interested in exchanging Litecoin.
LocalBitcoins – Global
On LocalBitcoins you can buy Litecoin with cash or cash deposit. the service is private and charge a flat 1% fee for each purchase. Read LocalBitcoins full review.
Litecoinlocal – Global
Litecoinlocal.net is a Litecoin dedicated P2P site. It works the same as LocalBitcoins and serves users globally. Read Litecoinlocal full review.
BitQuick – USA
This is another service that connects you with sellers who want to sell Litecoin for cash. BitQuick is only available in the United States and offer 2% fee for buyers. Read BitQuick full review.
Buy Litecoin with credit card or a wire transfer
Most exchanges trade Litecoin only for bitcoins and not for FIAT money. However, there are a few exchanges that allow you to buy Litecoins directly. Here you can find a step-by-step guide on how to buy Litecoin using a credit card or a wire transfer.
Other Exchanges that trade Litecoin
This is a comprehensive list of worldwide major exchanges that trade LTC. This list is not a recommendation, and you should take the time to learn each service pros and cons.
Coinbase is another relaeible option for buying Litecoin using a credit card. Coinbase accepts buyers from 33 countries and fees are also relatively low. Click here to buy Litecoin on Coinbase.
Kraken is considered the world’s largest euro Bitcoin exchange. It accepts bank transfer deposits from US, European, Canadian, British, and Japanese customers. trade Litecoin with USD, EUR and other crypto. Click here to buy Litecoin on Kraken.
Poloniex is a US-based cryptocurrency exchange launched on 2014. It is a crypto-to-crypto exchange with a very high trading volume and a rich trading experience. Click here to buy Litecoin on Poloniex.
Coinmate.io – trade Litecoin with crypto.
Bittrex.com – trade Litecoin with crypto.
quadrigacx – trade Litecoin with CAD.
coinsquare – trade Litecoin with CAD.
btcmarkets.net – trade Litecoin with AUD.
bitFlyer.jp – trade Litecoin with JPY and other crypto.
Coincheck.com – trade Litecoin with JPY.
Coinone.co.kr – trade Litecoin with KRW or other crypto.
upbit.com – trade Litecoin with KRW or other crypto.
coinnest.co.kr – trade Litecoin with KRW or other crypto.
Coinut.com – trade Litecoin with USD or SGD other crypto.
Crxzone.com – trade Litecoin with SGD,EUR,USD.
HitBTC.com – trade Litecoin with other crypto.
Bitfinex.com – trade Litecoin with other crypto.
Huobi.pro – trade Litecoin with other crypto.
OKEx.com – trade Litecoin with other crypto.
Koinex.in – trade Litecoin with INR.
Shapeshift.io – trade Litecoin with other crypto.
changelly.com – Convert Litecoin to other crypto.
liqui.io – Convert Litecoin to other crypto.
exmo.com – trade Litecoin with other crypto.