Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM

Summary:

What is the Litecoin Platform and how does it work?
Advantages of the Litecoin exchange.
Litecoin’s past, present and future price positions.

The Litecoin Platform

Litecoin is a peer-to-peer cryptocurrency and an open-source software project that was released unde the MIT/X11 license. Litecoin started in October 2011 as one of the first altcoins. Litecoin expands on the original Bitcoin (BTC) technology.

Peer-to peer cryptocurrencies refer to transactions between two parties of some asset (such as digital currency) that does not require involvement from a central authority.

LTC, Litecoins native coin

LTC is the native cryptocurrency of the Litecoin Platform, the coins market capitailisation is over $4.7 billion, the current total circulating supply is 70.31 million coins and has a maximum supply of 84 million coins.

Litecoin was the one of the first altcoins to enter the market, and currently sits in 21st position in terms of market capitalisation. Litecoin improved on the Bitcoin technology in a multitude of ways, some of these include faster processing speeds and lower transaction costs.

The primary goal for Litecoin when it was launched, was to create another version of Bitcoin that is scalable and is aimed at smaller transactions.

Is Litecoin a good investment?

Although Litecoin does improve on Bitcoin technology, it still presents risks to investors. When the coin was first released, its technology was unique in the market, however since then, the uniqueness of the coins structure has began aging. Currently there are many other altcoins that are offering the same benefits and efficiency as Litecoin.

Thanks to the age of Litecoin, this cryptocurrency holds value better than its younger altcoin counterparts who have smaller market capitalisations.

Litecoin is a decentralised platform that has no censorship and is available to all. Users can send low cost, private, secure borderless payments to anyone they choose at anypoint and to anywhere in the world.

Litecoin is blockchain secured, meaning that it is the largest global scrypt based network operating at 100% since 2011, tracasting and securing billions of dollars of value.

Decentralised platform, it is not necessary to get approval to join the new age of money, it is easy to download a free exchange wallet and to invest in the future of finance.

Evolving and immutable platform, Litecoins has lightning which is a development pioneers technology that allows instant global settlement of funds and atomic swaps for cross blockchain trustless trading.

Where to invest in Litecoin:

Users need to open a crypto exchange account, which will offer users access to a trading platform where they can buy and sell cryptocurrencies through placing buy and sell orders.

Some examples or crypto exchanges that have Litecoin available: Coinbase, eToro, Gemini and many more.

Advantages of investing in Litecoin (LTC):

Lower transaction costs. With the Bitcoin platform, users lose part of their Bitcoin value when they transact between exchange wallets through a verification fee, this happens with Litecoin aswell, except the verification fee is lower than Bitcoins when transfers are initiated.
Faster transaction speeds: the improved Litecoin network doesnt only extend its processing fees, it also allows users to send coins faster than the Bitcoin blockchain does. For example, the average Bitcoin transaction takes around 10 minutes whereas the average Litecoin transaction takes around 2.5 minutes.
Open-source platfrom: the Litecoin platform is build on a naturally open-sourced fork of the Bitcoin Core Client. This makes it easier for the platform developers to implement new features and adjust the system in order to keep up with the ever-changing market. The platforms flexibility also allows the developers to implement software development security parts regularly in order to keep up with hackers and their innovative methods.
Recognisability: Litecoin has been on the market for some time and despite its modern technological irrelevance, the coin remains one of the more well-known altcoins.

Past, present and future prices of LTC

In the past, it took Litecoin more than two years for its price to show any upward movements, this is likely due to the fact that cryptocurrency trading was not as popular back when they were first launched as they are now. Investors were even more uncertain of the crypto market than they are now. The price of Litecoin started to see some growth around the start of 2017, since then the price has fluctuated a lot, reflecting the volatility in the crypto markets. Since the start of the year the change in price of LTC has been less than -53%.

Currently the broader financial markets have been taking strain, causing the cryptocurrency markets to express more than usual volatility.

In the future analysts predict that the price of Litecoin (LTC) is expected to grow according to price predictions.

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