A Deep Look at Litecoin: Should it be in Your Portfolio?

What is Litecoin: The Basics

  • Market cap: $3,704,667,833;
  • Market rank: 8;
  • Trading volume: $1,951,493,040;
  • All-time low: $1.20 (Jan 14th, 2015);
  • All-time high: $360.93 (Dec 18th, 2017);

LTC vs. BTC: the Similarities

  • Are open-source decentralized systems based on the same code;
  • Are divisible into smaller units Satoshi and Litoshi (one hundred millionth of BTC/LTC);
  • rely on the PoW (Proof-of-Work) algorithm for issuing new coins.

LTC vs. BTC: the Differences

  • LTC has a larger total supply: the total number of Litecoins in existence is 84,000,000. For BTC, this number is only 21,000,000.
  • LTC blockchain is faster: in the Litecoin blockchain, it takes 2.5 min to solve a new block. The Bitcoin network is much slower — here, the standard block time is 10 minutes.
  • LTC offers smaller transaction fees: in the Litecoin network, transaction fees are almost non-existent. Right now, the average LTC fee is $0.014. In the BTC network, it’s around $3,3.
  • LTC makes mining more accessible: Bitcoin applies SHA-256 cryptographic algorithm and Litecoin uses Scrypt. Scrypt is much easier on your hardware, thus you don’t need any pricey and super powerful equipment to mine LTC. Instead, you can use a consumer-grade computer. The reward is 12.5 LTC per block.

LTC Advantages

What the Future Holds for Litecoin

How to Buy Store Litecoin

  • Channels supports dozens of popular fiat and cryptocurrencies, including LTC;
  • You can buy LTC for a currency of your choice, with a few finger taps;
  • The app applies close-to-zero fees (probably the lowest on the market) when you move your crypto within or outside the system.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
NIMERA

NIMERA

One ecosystem to manage all things crypto. | Nimera Swap | Multibroker | Channels Wallet | Crypto Acquiring | Powered by multi-core Nimera Blockchain |