Litecoin – Price, Historical Data & How to Buy

What is Litecoin?

Litecoin is a cryptocurrency that was created in 2011 as a fork of the Bitcoin protocol. It is often referred to as “the silver to Bitcoin’s gold.”

Litecoin was created by Charlie Lee, a former Google engineer. He wanted to create a coin that would be more efficient to mine and that would have faster transaction times. New Litecoins are created through a process called mining. Miners are rewarded with Litecoins for verifying and processing transactions on the Litecoin network.

Litecoins can be used to purchase goods and services just like any other currency. However, there are some advantages to using Litecoin over FIAT currency. Litecoin is faster and cheaper to transact than FIAT currency. Litecoin is also more decentralized than FIAT currency, meaning that it is less subject to government regulation.

The Litecoin blockchain is similar to the Bitcoin blockchain in that it is a public ledger of all Litecoin transactions. However, Litecoin uses a different algorithm for mining called Scrypt. This allows Litecoin to be mined with less specialized hardware than Bitcoin, making it more accessible to a wider range of people.

The future of Litecoin looks bright. The Litecoin community is highly active and engaged, and Litecoin has been adopted by some major companies as a payment method. Litecoin is also one of the top cryptocurrencies by market capitalization, indicating that it is a serious player in the crypto space.

Critics of Litecoin argue that it is not as innovative as some other cryptocurrencies and that its main advantage over Bitcoin is simply its lower price. However, Litecoin has proven itself to be a reliable and popular cryptocurrency, and its future looks bright.

How to buy Litecoin

If you’re interested in buying Litecoin (LTC), there are a few things you need to know. We’ll cover everything from how Litecoin transactions are verified to where you can buy LTC.

Before we dive in, it’s important to note that Litecoin is a cryptocurrency, which means it exists purely in digital form. Cryptocurrencies aren’t regulated by governments like a traditional currency, so it’s important to do your research before buying any crypto.

Now that that’s out of the way, let’s get started.

Litecoin transactions are verified by what’s called a blockchain. The blockchain is a digital ledger that records every Litecoin transaction that has ever taken place. This ensures that all Litecoin transactions are legitimate and that no one is trying to double-spend their coins.

Litecoin is bought and sold on cryptocurrency exchanges. These exchanges are like traditional stock exchanges, but they deal in cryptocurrencies instead of stocks. There are a few different exchanges you can use to buy Litecoin, but we recommend Coinbase.

Coinbase is one of the most popular cryptocurrency exchanges and allows you to buy Litecoin with US dollars. You can also use Coinbase to buy other cryptocurrencies like Bitcoin and Ethereum.

Once you’ve bought Litecoin on an exchange, it’s stored in a digital wallet. This is like a virtual bank account that stores your Litecoin. You can use your Litecoin to buy goods and services, or you can hold onto it in the hopes that its value will go up.

Litecoin historical price – Line chart & candlestick

Invest in Litecoin

Investing in Litecoin is a great way to get exposure to the cryptocurrency market without having to invest in Bitcoin. Litecoin is a top cryptocurrency by market capitalization and is one of the most traded cryptocurrencies.

There are a few different ways to invest in Litecoin. The easiest way is to buy Litecoin on a cryptocurrency exchange. Cryptocurrency exchanges are online platforms where you can buy, sell, or trade cryptocurrencies.

You can also invest in Litecoin by buying a Litecoin mining contract. Mining is how new Litecoins are created. When you buy a mining contract, you are essentially renting out the hashing power of a miner. This is a more complex way to invest in Litecoin but can be more profitable if done correctly.

Litecoin is a relatively new asset and is still very volatile. The price of Litecoin has seen large swings over the past year. However, Litecoin has shown to be a very popular cryptocurrency with a lot of potential.

Litecoin calculator

Here you can calculate the value of Litecoin in all major fiat currencies.