In case you are researching crypto-investment, you may have questions regarding Litecoin. Is Litecoin worth investing in? How to buy Litecoin? Here, you will find reasonable answers to all your questions.
Litecoin was developed on October 13, 2011, by computer scientist Charlie Lee and is today the tenth most valuable cryptocurrency in terms of market value. Litecoin is now one of the ten most valued cryptos, with a market valuation of $11.6 billion. Furthermore, the size and liquidity of Litecoin make it very visible. Its daily trade volume exceeds 2 million coins on average.
Given the tremendous volatility in the crypto market, liquidity is critical. A single sale might wreck the price of a cryptocurrency if there isn’t enough liquidity. On the other hand, LTC investors will never have to worry about liquidating their holdings.
The Litecoin coin is an “old” cryptocurrency. No other coin has lasted in the top 10 for as long as Bitcoin. BTC and LTC have each spent 410 and 409 weeks on the charts.
Distinctions between Litecoin and Bitcoin
It was established due to a “fork” of the Bitcoin Core blockchain’s source code (a fork is when a blockchain splits into two separate paths, building two distinct coins). The following are the primary distinctions between Litecoin and Bitcoin:
- Transaction costs are reduced.
- A hashing algorithm that isn’t the same as the others
- Block creation time is reduced.
- An increase in the maximum number of coins that may be held