Litecoin Price, News and Analysis (LTC)

Litecoin (LTC) Frequently Asked Questions

What is Litecoin?

Litecoin LTC - provides faster transaction confirmations (2.5 minutes on average) and uses a memory-hard, scrypt-based mining proof-of-work algorithm to target the regular computers and GPUs most people already have - which are its main differentials to Bitcoin. The Litecoin network is scheduled to produce 84 million currency units with a halving in reward every four years just like bitcoin. The coin was created by a Google employee, Charles Lee. Litecoin is in second spot to Bitcoin and has spawned numerous clones - however it has a solid base of support and dedicated development team. The Litecoin project is currently maintained by a core group of 6 software developers, led by Charles Lee, with a large community that is growing in support. In May 2017, Litecoin became the first of the Top 5 (By Market Cap) cryptocurrencies to implement the SegWit scaling solution. Later in May of the same year, the first Lightning Network transaction was completed through litecoin, transferring 0.00000001 LTC from Zurich to San Francisco in under one second. Blockchain data provided by: Blockchair (Main Source), CryptoID (Backup), and WhatToMine (Block Time only) (Description provided by CryptoCompare)

How do I buy Litecoin?

It is not possible to buy all cryptocurrencies with U.S. dollars. Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S. dollars using Coinbase or BlockFi. Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies.

What do investment analysts think about Litecoin?

Weiss Research, an investment research firm that rates cryptocurrencies, has given Litecoin an overall rating of "B-", a technology and adoption rating of "B-", and a market performance rating of "C-".

What technology is included in Litecoin?

- Faster transaction confirmations (2.5 minutes on average) - Scrypt-based mining proof-of-work algorithm - 84 million litecoins - Higher transaction volume than Bitcoin - MIT/X11 license   (Information provided by CryptoCompare)

Where can I get Litecoin wallet?

Litecoin produces its own wallet software that is available for download on its website, which allows you to store Litecoin on your computer. For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X. If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

What is the value of Litecoin?

One Litecoin (LTC) is currently worth $209.17 on major cryptocurrency exchanges. You can also exchange one Litecoin for 0.00365854 bitcoin(s) on major exchanges. The value (or market capitalization) of all available Litecoin in U.S. dollars is $14.45 billion.

What hashing algorithm does Litecoin use?

Litecoin is a proof of work (PoW) coin that uses the Scrypt algorithm.

How do I mine Litecoin?

Litecoin and other Scrypt coins can typically only be mined profitably with a piece of specialized mining hardware called an ASIC, which stands for application-specific integrated circuit. Major manufacturers of ASICs include BitMain (AntMiner), Microbt (Whatsminer), and Canaan (AvalonMiner). ASIC hardware can be purchased directly from the manufacturer or from resellers on Amazon and eBay.

What coins are similar to Litecoin?

The following coins use Litecoin's Scrypt algorithm and proof of work (PoW) proof-type: Dogecoin, UNUS SED LEO, Polymath, Syscoin, Verge, Hellenic Coin, Presearch, XeniosCoin, Bytom, GameCredits, Lotto, Don-key, Monavale, Matrix AI Network and Trabzonspor Fan Token.

What is the Reddit page for Litecoin?

The official Reddit community (subreddit) for Litecoin is r/litecoin.