Litecoin current price is $232.43.
Litecoin current price is $232.43 with a marketcap of $15.96 B. Its price is 1.24% up in last 24 hours.
- Litecoin (LTC)
- Live Price $232.43
- Market Cap $15.96 B
- Volume $2.50 B
- Available Supply 69.00 M LTC
- Rank 14
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More Info About Litecoin
Litecoin is a peer-to-peer cryptocurrency created by Charlie Lee. It was created based on the Bitcoin protocol but differs in terms of the hashing algorithm used. Litecoin uses the memory intensive Scrypt proof of work mining algorithm. Scrypt allows consumer-grade hardware such as GPU to mine those coins.Why Litecoin?Litecoin is a cryptocurrency that has evolved from Bitcoin after its own popularity in the industry, this alternative, or ‘altcoin’ has emerged to allow investors to diversify their digital currency package, according to Investopedia. Litecoin is one of the most prominent altcoins and was created by former Google employee and Director of Engineering at Coinbase, Charlie Lee. Litecoin was the first to alter Bitcoin and the most significant difference is that it takes 2.5 minutes for Litecoin to generate a block, or transaction, in comparison to Bitcoin's 10 minutes.‘While this matters little to traders, miners who use hardware to run Bitcoin's network cannot switch over to Litecoin. This keeps bigger mining conglomerates away from Litecoin because they cannot easily optimize their profits by swapping to another coin, contributing to a more decentralized experience. Litecoin also has bigger blocks, and more coins in circulation, making it more affordable and swift when transacting,’ Investopedia explained.As explained above, Litecoin can transact a lot faster than Bitcoin, but there are also a number of other characteristics that investors need to know before trading. Litecoin can handle higher volumes of transactions because of the capability of transacting faster and if Bitcoin attempted to transact on the scale of its altcoin, a code update would be needed. However, Litecoin’s blocks would be larger, but with more ‘orphaned blocks'. The faster block time of litecoin reduces the risk of double spending attacks - this is theoretical in the case of both networks having the same hashing power.Litecoin Technical Details:The transaction confirmation time taken for Litecoin is about 2.5 minutes on average (as compared to Bitcoin's 10 minutes). The Litecoin network is scheduled to cap at 84 million currency units.Litecoin has inspired many other popular alternative currencies (eg. Dogecoin) because of its Scrypt hashing algorithm in order to prevent ASIC miners from mining those coins. However it is said that by the end of this year, Scrypt ASIC will enter the mass market.
Historical Data of LTC
A Step-by-Step-Guide on how to buy Litecoin (LTC)
Step 1 – Signup to Coinbase and receive 10$ in Bitcoin You will first need to purchase units of the bigger currencies. Exchanges commonly accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for any other Cryptocurrency. Click below for registration and receive BTC (Bitcoin) or ETH (Ethereum).
Step 2 – Transfer Your Ethereum (ETH) or Bitcoin (BTC) to an Exchange Your BTC (Bitcoin) or ETH (Ethereum) will need to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is similar. Litecoin (LTC) is obtainable on Binance, so we're going to use that as an example. Unsure on how to send funds from Coinbase to an Exchange? (Just follow this guide) Make sure you have chosen the exact coin you want to deposit. Bitcoin must be sent to a BTC deposit address, ETH to an Ethereum deposit address, etcetera. If you are dealing with a decentralized exchange, such as Airswap or DDEX could be opposed (Follow our manual).
Step 3 – Locate (LTC) Litecoin As soon as your deposit has been affirmed, you'll now have access to your finances and you can launch invest and trading. To purchase Litecoin (LTC) on Binance, you'll want to go to the “Exchange” tab and then mouse click on “Basic”. To spot Litecoin (LTC), you'll need to put the shortname of the coin (LTC) into the search box, which is highlighted in the graphic. Be certain of having selected the proper grouping, we've highlighted this too. Click on “LTC/BTC” to go ahead.
Step 4 – Buy (LTC) Litecoin Once you've spotted Litecoin (LTC), you will be given a Price Chart (in the Center of the image) and some Order Books (Leftside of the image). Next we're making our Limit Order. The “Price” field will be filled automatically with the latest tariff (LTC) Litecoin was sold for. This can be changed to your desired price. The “Amount” field is the volumen of LTC you want to buy. The “Total” field is the aggregated price in BTC that you'll settle for the complete volumen of LTC. When you are happy, click on “Buy LTC“. Your order will be filled as soon as a Vendor trades their LTC for the price you gave.
Step 5 – Withdraw Litecoin (LTC) Unless you're regularly trading, never keep your crypto coins on an Crypto Trader for an extensive time period. To withdraw your (LTC) Litecoin, go to the tab called “Funds” and mouse click on “Withdraw”. Litecoin (LTC) can be securely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Find (LTC) Litecoin by using the provided drop-down box. Enter the amount of (LTC) Litecoin you would wish to withdraw. Don't forget the presented minimus/fees. Also make sure you have entered your precise withdraw address. When you are glad, click on “Submit”. You could be requested for phone/email verification before a withdrawal.