Litecoin (LTC) is a digital cryptocurrency created by Charlie Lee in 2011. It is a fork of Bitcoin and is often referred to as "the lightweight version of Bitcoin" or "digital silver." Its original purpose was to serve as a counterpart to Bitcoin.
Compared to Bitcoin, Litecoin offers faster transaction speeds and lower transaction fees, with a block confirmation time of 2.5 minutes. Litecoin has a total supply of 84 million coins.
Litecoin uses a proof-of-work (POW) mechanism to process transactions and maintain the blockchain.It employs the Scrypt algorithm, which allows for mining with consumer-grade hardware, eliminating the need for specialized mining rigs. This accessibility promotes decentralization. Litecoin also supports the MimbleWimble upgrade, enhancing privacy features.
Purchase LTC Process
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How to Buy Other Crypto Currencies
Given the market nature of cryptocurrencies, the price of LTC is subject to high market risks and price fluctuations. We recommend that you understand the operation principles of digital assets and related risks before investing in digital assets. Other factors to consider when formulating a cryptocurrency investment strategy include your own experience level, financial condition, investment goals, and risk tolerance. It is also recommended to consult an independent financial advisor before purchasing cryptocurrency. The information provided is for reference only, and LBank does not guarantee its accuracy.