It's time for another Top 100 crypto-currencies post. Today, I will talk about Litecoin. I'm pretty sure that most of you already heard of it, but I continue with my writings so that newbies like me understand crypto-related things.
Before starting with today's topic, I would like to remember you that I already wrote similar posts that you can find them on my profile. I wrote about DOT, DOGE, BNB, LINK, USDC, UNI & XLM. I also wrote about ETH 2.0.
Currently, Litecoin occupies the 8th place in the Market Rank, immediately after Chainlink. LTC is one of the oldest crypto-coins. It has been created in 2011 by a former Google employee, Charlie Lee.
Litecoin means the following:
Your Money
Litecoin (LTC) is decentralised money, free from censorship and open to all. Send low cost private, secure, borderless payments to anyone, anytime, anywhere.
Blockchain Secured
The Litecoin blockchain is the largest global scrypt based network, operating with 100% uptime since 2011 securing and tracasting billions of dollars of value.
Decentralised Finance
There’s no approval needed to join the new age of money. Download your free wallet to join and invest in the future of finance.
Evolving and Immutable
Litecoin development pioneers technologies including Lightning for instant global settlement of funds and Atomic Swaps for cross blockchain trustless trading.
LTC was created based on the Bitcoin protocol, but different from the point of view of the algorithm used, number of available coins, blockchain and other factors.
There are 66.373.740 LTC on the market right now, which is the Circulating Supply. The Max Supply is 84 millions LTC. The Market Cap of the project is approximately $8.8 billions and the Daily Trading Volume is of almost $6.3 billions.
The All Time High happened on the 19th of December 2017, when one LTC was worth $375,29, while the All Time Low was on the 14th of January 2015, with LTC's price of $1,11.
LTC, same as BTC, can still be mined and it will continue to be mined until the total number of coins available on the market will reach the Max Supply of 84 millions LTC. If you want to mine LTC, you can try LTC and Free-Litecoin. I am doing it too and the rewards are more than OK at this moment. Just take a look below and see what I gained in the last 5 months, with very few efforts - 2 clicks/ claims every hour, whenever I had the time to do it - easy-peasy.
5 months of claiming several times each day = 0.658 LTC = at its current price $87,58.
Also, Litecoin can be bought from many exchanges. There are more than 100 exchanges where you can trade/buy/sell LTC. The biggest Trading Volume of LTC is made on Binance, OKEx, Coinbase Pro, Bitrue, Finexbox and also many other.
The same thing with keeping LTC. My recommendation is to keep LTC on Coinbase Wallet or Trust Wallet, which belongs to Binance. This are the most suitable, in my opinion.
In conclusion, this is what Litecoin is. As I said at the beginning of the post, LTC is very similar in structure and basic idea to Bitcoin. It is a digital currency and a digital payment system, open source, uncontrolled by anyone, through which people can transfer financial value between them. So, it is a payment system like Bitcoin. The difference is made by the number of users who use Litecoin as the payment method which is much smaller than those who use Bitcoin and this gap between the two crypto-currencies, I think, will deepen over time. LTC will probably lose the number of users, while Bitcoin will gain more and more users.
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