LiteCoin – The Most Successful Bitcoin Alternative?

Litecoin is a digital crypto-currency created as an alternative to the bitcoin virtual cash. Incepted in 2011 by a guy named Charles Lee, its popularity has intensively grown rising the price of one litecoin in 400% and making it worth about 50 USD as of today. Based on bitcoin protocol, the litecoin e-money is supported by the same peer-to-peer open source network – however, there are some differences concerning the mining process and the transaction speed. Another distinctive feature is that the final number of litecoins ever to be created is 84 million, which is four times higher than the potential overall amount of the BTC.

Below, you will find the major characteristics of the Litecoin digital cash, its advantages and uses.

LitecoinTransactions: Speed and Security
Litecoin payments are completed extremely fast – it takes about 2.5 minutes to receive a confirmation for a single transaction. All online trading activity is processed by an encrypted system, enabling protection for both the buyer and the seller. Just like with bitcoins, the litecoins transactions are irreversible – once the payment is made there is no way of claiming your money back. This combination of security, convenience and promptness of the financial operations makes litecoins an attractive form of e-commerce for small and medium purchases.

Where Can I Acquire and Keep My Litecoins?
Litecoins can be bought online through exchanges and marketplaces or accepted as a form of payment for goods or services. Trading platforms such as btc-e.com, for example, allow users to buy and sell this crypto cash to other members virtually or in person. Similar to bitcoins, litecoins can be stored in a digital wallet – an application installed and downloaded to your PC, tablet or a mobile phone. A web-based wallet allows its owner to use the electronic money in any location with an internet connection. However, due to security concerns some prefer using a combined form of storage: offline – for larger litecoin amounts, and online – keeping smaller funds for daily trade and purchases.

How Can I Use Litecoins?
There are many websites and businesses that work with litecoins: a wide range of goods such as jewelery, custom printed items and even solar power generators can be acquired for this currency. Some webhosting and domain-names websites also accept litecoin as a form of payment. Another way of using litecoin is investment: it goes without saying that litecoins are much more affordable than bitcoins today. Since litecoin price is currently on the rise some buyers believe, that sooner or later it may follow the bitcoin price curve pattern.

Summary
The litecoin electronic cash is the second largest internet currency after bitcoin: its current market cap today is exceeding 1bn USD. While there is an apparent similarity between litecoins and bitcoins, these are two different currencies. The Bitcoin value has soared dramatically and the virtual currency market is subject to a constant change – which is one of the reasons for users to diversify and acquire other forms of digital cash. A growing litecoin community including forums, discussion boards and latest news provides a solid base of knowledge for anyone wishing to get exposed and start trading.

Other Articles

What Are Bitcoin Transaction Fees?

A Bitcoin transaction fee usually refers to the amount of Bitcoin that we pay to miners when we transfer to another bitcoin address. Transaction fees

What is a Bitcoin Wallet?

Welcome to Part 2 of our Beginners Series!  In Part 1, we answered the question: What is Bitcoin? Well, if you’re reading this then you

What IS Bitcoin?

Welcome to the first part of our Bitcoin Learner Series. In this series, we’ll cover many topics right from Bitcoin beginner basics, through to more

Our Feedback

Laura Gómez Fernandez
Laura Gómez Fernandez
2021-09-05
Feels like magic, my transaction wouldn’t get confirmed for days so I tried the premium feature. I was not sure if it would help, but just a few minutes ago I got an email from BTC Nitro saying that it was already confirmed! Thank you so much!!
Baurumtec
Baurumtec
2021-09-05
Does what it says! Super helpful!
Agnieszka Awrejcewicz
Agnieszka Awrejcewicz
2021-09-05
Thank you so much! My transaction was stuck for days so I decided to try the premium acceleration option because I was desperate. I got it confirmed in 2 hours!!!
José Carlos
José Carlos
2021-09-05
Premium version is even better! After a few months of using their excellent free boosting service, today I could try out the new premium acceleration service. My tx got confirmed in 27 minutes! Great job and thank you very much to all the BTC Nitro team :)
Apes Together Strong
Apes Together Strong
2021-08-11
My tx went unconfirmed for 3 days because of low fees but was confirmed immediately I contacted btc nitro and it's free of charge just send your tx
Zero Point Zero
Zero Point Zero
2021-05-18
I am grateful! Used there service and couldn’t be happier. My btc was stuck and now confirmed!! It really works. Thank you very much.
Camila Aira
Camila Aira
2021-05-06
Go BTC Nitro! I got my TX confirmed after more than one week of waiting. 3 hours after using BTC nitro and it’s done!
Anna Riley
Anna Riley
2021-05-05
As described really good system. Just works like it says it will.
FilmyRush
FilmyRush
2021-05-02
awesome site they really confirmed my very low fees transection very fast really appreciated for their support
Helena
Helena
2021-04-30
I contacted them today for my three days stucked transaction id 8e83e7a44ce302303202ba33433cf06a3bd5d61d5f3831a961abcf70f52b14e9, and it is yet to be confirmed. My fees weren't too low, 9.97 sat/vb. Reading positive returns here gives me hope. I will come back to edit and share my experience which i trust is going to be positive, and i will add the fith star! Unfortunately my transaction is still unconfirmed 12 hours later, two accelerations by btc nitro Edit: I finally got my transaction confirmed today. Many thanks to the support team. Five stars bling bling bling*****

Article: Bitcoin stuck in mempool

A few hours later it got confirmed, but I think thanks to a bitcoin accelerator that I found and used. https://btcnitrodev.wpengine.com
Should have looked before. This thing worked like a miracle. Next time if something like this happens I will be smarter. 😉

[link to full article…]

Share this article...

Share on facebook
Share on twitter
Share on linkedin