About Litecoin And Its Difference To BTC
What is Litecoin?
When it comes to electronic money, people often think about Bitcoin (BTC), the most valuable currency in the world to date. But in recent years in the world generally emerged another kind of electronic money called Litecoin. If Bitcoin is “gold”, Litecoin is considered “silver”. The market value of Litecon is higher than any other virtual currency, and it ranked number 2 just after Bitcoin.
- What is Litecoin?
- What is it different from Bitcoin?
Let KriptoA help you to discover .

What is Litecoin?
Litecoin (LTC) is a currency codename or currency equivalent to the internet, which is graded as the same level as Bitcoin, based on the Peer To Peer platform. Litecoin allows users to pay very quickly and completely free for anyone in the world ,it was invented by a former Google employee named Charles Lee on October 7, 2011 on the Github source code, opening up a new era for virtual money, giving users the option of using this money rather than Bitcoin.
If Bitcoin uses the SHA256 encryption platform, Litecoin knows how to improve with Scrypt, which allows virtual currency operators to dig both Bitcoin and Litecoin at the same time, without compromising the system. At the time we were learning to write this article for you , the LTC price reached $ 7.32 = 0.00676043 BTC. Litecoin was at the highest price of $ 10.
Litecoin’s unit
Just like Bitcoin, Litecoin is divided into 1 million units :
- 0.001 mLTC (Millicoin)
- 0.000001 μLTC (Microcoin)
- 0.00000001 ( The smallest unit )
The difference between Litecoin and Bitcoin

When talking about the technique, there is not much difference between the BTC and LTC, here are some main differences :
- Litecoin : Each block is processed by LTC for 2.5 minutes faster than Bitcoin using the Proof-ofwork algorithm, along with asynchronous memory instead of hard disk memory. Litecoin uses cryptanalysis algorithm.
-Bitcoin: The processing speed of each block is 10 minutes and requires a hard disk containing the files with 20GB. The Bitcoin encryption algorithm used is SHA256. In essence, this suggests that Litecoin deals with more advanced CPU-based designs to exploit than Bitcoin.
Right now, there are many exchanges that allow Bitcoin and Litecoin, as well as Litecoin and other foreign currencies, some market in Chinese allow you to pair Litecoin up with their money (RMB ¥)
Litecoin’s exchange rate
LTC 1 = $ 49.39 is up 3.39% and has a total market capitalization of $ 2,551,138,762 or 1,021,270 BTC ( This is at the time that we’re writing ). Litecoin is also the fourth coinmarketcap to ranked afer Bitcoin, Ethereum and Ripple coin. You can keep updating about Litecoin’s daily rates updated in real time to keep up with the latest fluctuations in copper prices.
Where to buy LTC ?
LTC coding currency is being traded on many big trading floors at the moment . We can help you to know some remarkable names such as OKEx, GDAX, Bitfinex, Huobi, Binance, Bit-Z or HitBTC…Litecoin trading volume on OKEX is the biggest one in these names, make sure to learn about them before you do the buying action .
Which wallet can store LTC ?
You can now store your LTC in many wallet versions, from hardware wallet to web wallet or cold wallet, depending on your purpose.Here are some wallets that support storing LTC and how to download them :
— Hardware wallet : https://litecoin.com/#wallets
- Some popular cold wallets: Ledger, Trezor, Exodus, Jaxx, ..
- About web wallet, we believe that Coinbase is the best one at the moment.
You can also store your LTC at your trading floor’s wallets in order to help you feel easier when trading LTC with other tokens, which saves a transaction fee for you.
Because nothing can be predicted, let’s wait and see how LTC will increase in this market in the future. This is also the end of the article, hope you guys find it’s helpful !
