Litecoin is the third largest cryptocurrency after Bitcoin and Ripple. It was originally conceived by Charlie Lee in 2011.

LTC was founded to prioritize transaction speed, and that has already proven as an advantage as it has grown in popularity. In other words, one main difference between Bitcoin and Litecoin is that LTC technology needs less amount of time to take a new block of transaction. The idea was that this might reduce the time needed for confirmation of the transaction prior to the final payment. 

The second difference is the LTC mining algorithm. On Litecoin, new blocks are added to the blockchain roughly every 2.5 minutes (as opposed to 10 minutes for Bitcoin).

 

 

Litecoin transactions need a block confirmation time of 2.5 minutes (Bitcoin transactions take around 10 minutes) - this makes Litecoin transactions much faster. It is built upon the same fundamentals as Bitcoin and also uses blockchain technology, where all transactions are stored. Like other cryptocurrencies, Litecoins are mined by users - by solving complex mathematical equations they verify transactions and create new blocks, which are then added to the blockchain.

 

 

 

 

 

You can safely store your LTC in your account or your crypto wallet.

You can trade LTC for other cryptocurrencies.

You can send it to anyone and anywhere with their LTC address.