What is Litecoin?

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This topic contains 9 replies, has 5 voices, and was last updated by  Mark 8 months, 1 week ago.

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  • #27065

    Coins
    Keymaster

    What is Litecoin?

    Litecoin is a cryptocurrency with a focus on speed and efficiency, that can be mined through the use of consumer-grade hardware.

    Learn more: https://coins.community/ltc/

  • #27100

    reighn
    Participant

    Is this really worth to collect? I have some Litecoin coming from some faucets, but actually I just traded it to bitcoin or Ethereum. I don’t keep it because I don’t think that this Litecoin has a future in cryptocurrency. I’m just wondering if this one is really worth to invest?

  • #27169

    avsf
    Keymaster

    Really @reighn? LTC has a solid future, it’s a solid project, one of the only 3 coins supported by Coinbase.

  • #27263

    reighn
    Participant

    Yeah, your right @avsf. This is one the best three crypto right now. but the use of litecoin is almost the same as to bitcoin, and the price is already high. So instead of keeping it, I just traded it to bitcoin or ETH. Right now, I’m really interested in Ripple. I like how the value quickly to change, and the price is just less than $5, it’s very easy to collect and wait for the development.

  • #27264

    avsf
    Keymaster

    A cheaper coin doesn’t mean it’s a good project, it just means the coin doesn’t cost much, most likely because there are far more of that coin than other more expensive ones.

  • #27268

    Coins
    Keymaster

    Correct, price does not solely reflect demand. Coin A can have a much higher supply (number of coins available) then coin B. Coin B (lower supply) can have a much higher cost per coin then coin A, but coin A’s market cap (total amount invested) can still be much lower.

    Visiting https://coinmarketcap.com is a great way to see this visually.

    • #27666

      Treathyl Fox
      Participant

      Visited your recommended link. It is an amazing visual! It’s good to know that Litecoin is in the Top 100. I also had a question about Zcash and that is also in the Top 100.

  • #27421

    Treathyl Fox
    Participant

    Sorry. Left this comment at one of your articles. https://coins.community/real-coins/
    I’m repeating myself here.
    * * *

    I recently signed up at a site that has at least 30 cryptocurrencies to choose from. As I was filling out my profile and getting set up there was a question that was asked and I didn’t really know how to answer it. The question was “What is your favorite cryptocurrency coin?” I picked Litecoin. Read some stuff on the Internet that said it was good. Figured I needed to start somewhere. (O.o) I’m curious. Do you think that I accidentally made a good choice?

  • #28009

    Mark
    Participant

    I would say that Litecoin is a lot like Bitcoin, and is a decentralized kind of digital currency. It uses the same encryption techniques to transfer and create funds and to confirm transactions. The difference between Bitcoin and Litecoin though, is that Litecoin has a larger amount of coins that can be created, also Litecoin has faster transaction rates as well. I think these facts alone make it one of the better cryptocurrencies to invest in today.

  • #28380

    Mark
    Participant

    Litecoin is faster than Bitcoin, completing transactions in an average of 2.5 minutes, compared to the 10 minutes that it takes to perform transactions on Bitcoin, with an almost zero transaction fee compared to Bitcoin.

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