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 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

Bitcoin Transactions: 3 Scams to Avoid

With the price of Bitcoin (BTC) having increased significantly in recent months (at the time of writing) and the blockchain network busier than ever, thieves,

Blockchain Scaleability Problem

At its root, the blockchain is essentially a distributed ledger where every node in the blockchain keeps its own copy of this ledger. The idea

How to Buy Bitcoin in the UK

The bitcoin crypto currency has grown to be enormously popular during the last several months and the demand keeps on growing. There are several possible

Our Feedback

BTC Nitro
BTC Nitro
Based on 7 Trustpilot reviews.
Naina Nasir
Naina Nasir
January 13, 2021.
Verified
This is a great find! Super quick and easy to use too if you're looking to speed things up when sending/receiving Bitcoin
Robert Harrison
Robert Harrison
January 8, 2021.
Verified
Perfect, thanks.
King
King
January 8, 2021.
Verified
This is a hidden gem for anyone sending or receiving bitcoin!
James morris
James morris
January 8, 2021.
Verified
Great system that I use to speed things up when sending bitcoin
Jenine Wunderlich
Jenine Wunderlich
January 8, 2021.
Verified
There are others that claim to offer the same thing but so far i've had the most success with btcnitro
btc accelerator review

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://btcnitro.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