Lіtесоіn – the complete guide

litecoin logoLitecoin (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?

Bitcoin Litecoin
Coin limit 21 Million 84 Million
Algorithm SHA-256 Scrypt
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
Block explorer blockchain.info block-explorer.com
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 2020. However the best option is always a hardware wallet. the two leading hardwere wallets in the market are the Ledger Nano s and Trezor.

Ledger Nano s possibility of hacking

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. Read Ledger Nano S wallet full review.

TREZOR Bitcoin wallet review whats in the box 2

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. Read TREZOR wallet full review.

And here are some other options to choose from …

Litecoin online wallets

coinbase rss feedCoinbase is the world’s Biggest Bitcoin exchange, serving customers from more than 100 countries. The company is based in San Francisco and offers an exchange, a wallet and a developer API. Coinbase offers a simple Litecoin wallet. Coinbase exchange review.

 

Coin.Space is a free HD (Hierarchical deterministic) wallet. The wallet has a sleek interface and it is compatible for Android and iPhone devices. It has a secure passphrase generation. It also has a geo-location feature for transactions with nearby users.

cryptonator is an all inclusive service that combines a crypto exchange with a digital wallet service. The wallet is a web based multi-currency hot wallet. It was launched in 2014 in Hong Kong and is not regulated, as are other services in the field. It offers support in five languages: English, French, Spanish, German and Russian.

Mobi.me is a simple online wallet developed by the Hong Kong based bitcoin exchange BTCC. The wallet offers also a prepaid Mobi Visa and Fiat support, converting crypto into over 100 fiat currencies.

Freewallet is another wallet lets you xchange the currency for countless other currencies. Another feature that will be added soon is the possibility to purchase the coin from inside the wallet app.

 

Litecoin open source wallets

Official Litecoin wallet

LoafWallet

Electrum-ltc.org

Exodus.io

Jaxx.io

Coinomi

 

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.

Is Litecoin mining profitable

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.

Ledger-Nano-s-possibility-of-hacking-150x150 How to Buy Bitcoin - common payment methods 2018LocalBitcoins – 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.

 

litecoin local net LOGOLitecoinlocal – Global
Litecoinlocal.net is a Litecoin dedicated P2P site. It works the same as LocalBitcoins and serves users globally. Read Litecoinlocal full review.

 

Ledger-Nano-s-possibility-of-hacking-150x150 How to Buy Bitcoin - common payment methods 2018BitQuick – 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

coinmama buy bitcoins with credit cardMost 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.

 

cex.ioCEX

Established in 2013, CEX.IO is a popular cryptocurrency exchange. CEX exchange allows you to buy Litecoin using your credit card. Read CEX.IO registration guide.

 

coinbase rss feedCoinbase

Coinbase is another relaeible option for buying Litecoin using a credit card. Coinbase accepts buyers from 33 countries and fees are also relatively low. Coinbase has also a very nice crypto app for Android and iOS. On Coinbase you can own Litecoin in a few minutes: First create an account. Than verify your identity, with a photo ID. Than buy Litecoin – you can pay with a debit card or bank account. Coinbase Bitcoin Exchange review 2019

 

bitpanda Logo

Bitpanda

Bitpanda also Allows you to buy Litecoin using your credit card, Skrill account, SEPA transfer or SOFORT. buying limits are relatively low. Click here to buy Litecoin on Bitpanda.

 

bitstamp logoBitstamp

Bitstamp is one of the oldest cryptocurrency exchanges that traded Litecoin through a wire transfer of USD or EUR. Read Bitstamp registration guide.

 

 

Binance.combinance logo

Binance is a cryptocurrency exchange that focuses on the Asian market, but also supports English users. You can trade Litecoin with crypto. Read Binance registration guide.

 

Kraken logoKraken.com

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 logoPoloniex.com

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.ioCoinmate.io

CoinMate is registered in London and is a relatively new exchange. CoinMate serves European users and supports Bitcoin, Bitcoin cash and Litecoin transactions. It is an intuitive exchange that is right for people starting to trade or seeking to quickly buy and sell bitcoins. You can only trade Litecoin with crypto. Read CoinMate exchange full review and registration guide.

 

Bittrex.combittrex logo

Bittrex is a US cryptocurrency exchange that is quite popular. The signing up process is a pretty simple one for a basic account. They have a good variety of altcoins with more than 200 available, trading against Bitcoin, Ethereum and fiat.  Click here to buy Litecoin on Bittrex.

 

quadrigacxquadrigacx

Quadrigacx is a Canadian based exchange that trades Litecoin with CAD, and a relatively limited number of other coins. It offers no leveraged trading, however this is common as most cryptocurrency exchanges offer only spot trading. It also has a a harsh customer identification process. Click here to buy Litecoin on quadrigacx.

 

btcmarketsbtcmarkets.net

trade Litecoin with AUD. Click here to buy Litecoin on btcmarkets.

 

 

Coincheck.comcoincheck
trade Litecoin with JPY. Click here to buy Litecoin on Coincheck.

 

 

coinoneCoinone.co.kr

trade Litecoin with KRW or other crypto. Click here to buy Litecoin on Coinone.

 

 

 

bitflyer Crypto exchangebitFlyer.jp

trade Litecoin with JPY and other crypto. Click here to buy Litecoin on bitFlyer.

 

 

coinsquare Crypto exchangecoinsquare

trade Litecoin with CAD. Click here to buy Litecoin on coinsquare.

 

 

upbit Crypto exchangeupbit.com

trade Litecoin with KRW or other crypto. Click here to buy Litecoin on upbit.

 

 

coinnest Crypto exchangecoinnest.co.kr

trade Litecoin with KRW or other crypto. Click here to buy Litecoin on coinnest.

 

 

 

coinut Crypto exchangeCoinut.com

trade Litecoin with USD or SGD other crypto. Click here to buy Litecoin on Coinut.

 

 

crxzone Crypto exchangeCrxzone.com

trade Litecoin with SGD,EUR,USD. Click here to buy Litecoin on Crxzone.

 

 

 

hitbtc Crypto exchangeHitBTC.com

trade Litecoin with other crypto. Click here to buy Litecoin on HitBTC.

 

 

 

bitfinex Crypto exchangeBitfinex.com

trade Litecoin with other crypto. Click here to buy Litecoin on Bitfinex.

 

 

 

huobi Crypto exchangeHuobi.pro

trade Litecoin with other crypto. Click here to buy Litecoin on Huobi.

 

 

 

OKEX Crypto exchangeOKEx.com

trade
Litecoin with other crypto. Click here to buy Litecoin on OKEx.

 

 

 

koinex Crypto exchangeKoinex.in

trade Litecoin with INR. Click here to buy Litecoin on Koinex.

 

 

 

shapeshift Crypto exchangeShapeshift.io

trade Litecoin with other crypto. Click here to buy Litecoin on Shapeshift.

 

 

 

changelly Crypto exchangechangelly.com

Convert Litecoin to other crypto. Click here to buy Litecoin on changelly.

 

 

 

liqui Crypto exchangeliqui.io

Convert Litecoin to other crypto. Click here to buy Litecoin on liqui.io.

 

 

 

exmo Crypto exchangeexmo.com

trade Litecoin with other crypto. Click here to buy Litecoin on exmo.

 

 

Litecoin over the counter markets

Austrian Post Offices – Austria. Can buy Litecoin with EUR.

koinim – Turkey. trade Litecoin with Turkish Lira.

koineks – Turkey. trade Litecoin with Turkish Lira.

litebit – Netherlands. trade Litecoin with EUR.

btcdirect – EU. buy LTC with fiat.

anycoindirect – EU. buy LTC with fiat.

bitbay – Poland. buy LTC with fiat.

buyucoin – India. Buy LTC with INR.

 

Litecoin cryptocurrency comparison sites

Coin Market Cap is the leading information site today that tracks the market value of thousands of cryptocurrencies. CoinMarketCap is a term that refers to the total value of capital of all cryptocurrencies in the world today. This rating is not unique to the crypto market and has been borrowed from the traditional financial world. to measure this in the crypto world is relatively simple: the market value of any currency is the amount of existing coins double the current value of one coin.

coinmarketcap

What makes CoinMarketCap popular is its simple interface along with countless individual display options for thousands of coins over time. The site draws the information directly from the various crypto exchanges and displays the average price. Site statistics are updated every five minutes.

Most other Market Cap sites offer quite the same format, but each has something unique…

Coingecko is not very original in design and interface, but it uses a differant algorithm, and it offers a lot of information on coins mining.

Coincodex also looks almost the same. However, it has a simple and convenient interface, various filtering options and most of its glory is on its excellent crypto world guides. The site also runs an active and successful Twitter page

Cryptocompare is another site in the same format. It offers statistics to make currency comparisons as well as a wallet. The site also has an active forum.

 

Litecoin on reddit

Litecoin on reddit  is a popular Litecoin board. The channel is having discussions about the coin, recommendations on websites, wallets, reviews and news. There are excellent sources of information for those who take their first steps with litecoin.

Litecoin on reddit

Litecoin block explorers

block explorer is a search engine for a blockchain. A Litecoin block explorer lets you check the status of Litecoin transactions, or mined Litecoin blocks. there are quite a few block explorers online, all function basically the same.

Litecoin block explorers

Blockchair is a blockchain search and analytics engine. You can filter and sort blocks, transactions, and their content by a variety of different criteria, as well as perform full-text search over the blockchains.

explorer.litecoin – Search by address, block number or hash, transaction or public key hash, or chain name:

blockexplorer provides additional information about the blockchains. You can use the explorer to check a blockchain’s block difficulty, block height, current price, total number of transactions and much more.

blockcypher offers Recent Blocks, Current Fee Estimates, Latest Transactions and more.

 

Litecoin merchant tools

CoinPayments – Payment processing for Litecoin and more. The site offers a wide range of tools for downloading and embedding on the client’s site. Gift cards from hundreds of stores and suppliers, large chains and small stores. Instant crypto checkout, buttons, invoice builder and an API for custom integrations. Simple implementation and button creation is done by the customer through a simple interface, reminiscent of how PayPal works.

 

GoCoin – a payment processing service for Litecoin, active since 2013. GoCoin Allows traders to receive multiple currencies as payment method, including Lightcoin. They handle also security issues as well as provide a solution to the currency’s price volatility. 1% commission on most transactions. The service is available through custom APIs.

Alfacoins – Payment processing for Litecoin.

CoinWidget – Donation processing.

AsMoney.com – Payment gateway and browser.

Litecoin debit cards

Uquid – The company offers both virtual and plastic card. The card is a prepaid re loadable with unlimited spending on ATM withdraw. It is only available to existing Uquid customers and is not available in all countries. It also can be linked to Paypal. You can deposit up to $1,000/€1,000/£1,000.

Uquid Bitcoin Debit Card

Coinsbank – Provides a variety of financial solutions: wallet, card, exchange, merchant plus mobile App. CoinsBank offers six types of bitcoin debit cards that supports both cryptocurrency and fiat money.

Wirex – Litecoin is supported through shapeshift.

Be the first to comment

Leave a Reply

Your email address will not be published.


*