Litecoin is one of the oldest cryptos created following Bitcoin in October 2011. One of the very early Altcoin, Litecoin emerged as a result of the BTC fork. The essence of this crypto coin is the same as that of Bitcoin – blockchain running on the Proof of Work consensus protocol, miners provide the network’s operability.
Here, let us check out a few interesting facts about Litecoin
- Litecoin was created as an improved version of BTC
- The Litecoin network proceeds transactions much faster. While the generation of a new block takes up to 10 minutes in the Bitcoin blockchain, for the Litecoin network, it is only 2, 5 minutes.
- Transaction fees are much lower (hundreds of times) than Bitcoin.
- Mining LTC requires much less computing power; even a video card will cope with it. So mining LTC Litecoin is not as costly as BTC.
- While BTC is known as digital gold, LTC was called digital silver for its advantages.
Litecoin Price
The emission of the asset is limited to 86 million. LTC Litecoin has passed through its ups and downs, it’s price changed from to , dropped to , and then again raised to and even 8.
As of mid-July 2022, the LTC to USD pair is traded at $48,46.
Litecoin Prospects: Is It Worth Buying Litecoin?
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The asset was created not to surpass Bitcoin but to become a natural addition to it. Transactions in the Bitcoin blockchain are slow and expensive, so BTC is good for keeping your money. Since Litecoin offers faster and cheaper transactions, this asset better suits everyday use, paying for goods, etc. Even though these two assets have a lot in common, they have different use cases. It is definitely worth buying both BTC and LTC, for they both have great prospects for the future.
If you are into crypto investments and are interested in Litecoin, you can buy it at any credible crypto platform, whether it is Binance, Coinbase, or WhiteBIT.
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