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What is Litecoin



¿What is Litecoin?

Litecoin is a cryptocurrency founded by Charlie Lee, a former Google worker in 2011.

LTC was created with the intention of being used more effectively in everyday life such as making lower value transactions.

Like other coins LTC also uses blockchain technology, it can be worked to be quickly sent between companies or users.

LTC was released through open source code released under the MIT license (Massachusetts Institute of Technology, one of the most prestigious in the field of technology).

Litecoin was activated in May 2017, in September of that same year the first transactions were made, between Litecoin and Decred, Litecoin and Vertcoin, Litecoin and Bitcoin.

¿What does Litecoin offer?

LTC offers faster transaction speeds of 2.5 minutes on average, making operations with this currency easier and improving storage efficiency.

¿How Does LTC Work?

Litecoin works with the maximum limit of 84 million units, four times more than bitcoin, it operates with greater flexibility and, above all, it has room for the future.

¿Who regulates Litecoin?

This cryptocurrency is not regulated by any financial entity or authority. It is protected through a peer-to-peer network, the same users of the LTC world are responsible for safeguarding their own money.

¿Why do people use LTC?

LTC is desired as the cryptocurrency for trading. Its mechanism is much faster, using Scrypt, since it is not so heavy, it is four times faster than the SHA-256 that bitcoin implements.

¿How is LTC different from other stablecoins?

BTC and LTC have many similarities in certain characteristics except for some minor differences like:

LTC offers fast confirmation, its blocks are processed in 2.5 minutes, unlike BTC, which does it in 10 minutes.

Allows the establishment or creation of blocks below 1Mb.

¿Where can I buy it?

One of the ways where you can buy LTC is through Binance as it has a wide variety of tradeable Litecoin, you can exchange a cryptocurrency, fiat cryptocurrencies or just use a debit or credit card to buy the stablecoin, also bank. deposits are allowed.

¿Where to find more information?

For more information such as movements, prices, explorers, contracts and more you can visit the following link:

¿Did you know that you can buy and sell USDT and BUSD online thanks to Gastcoin Gateway?

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