Buy Litecoin, Buy Your Future
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Tap Global makes it simple and safe to buy, sell, and hold LTC.
What is Litecoin
And Why Do You Need It?
One of the first altcoins to develop from Bitcoin, Litecoin launched in 2011 and has taken the world by storm. So, what is Litecoin? Litecoin is a cryptocurrency differing slightly from Bitcoin, but designed to complement it. Litecoin’s founder Charlie Lee opted to alter a few core concepts, namely 4x faster transaction speed than Bitcoin, different hashing algorithm, and an increased total supply, amounting to 84,000,000 LTC. This top 10 cryptocurrency by market cap is a must-have for any serious crypto portfolio.
Litecoin At A Glance
In understanding ‘what is Litecoin’, one must know that the cryptocurrency was created in 2011 by former Google and Coinbase engineer Charlie Lee as a faster alternative to Bitcoin. By decreasing the amount of time it takes to create a block, Litecoin is able to process transactions much more quickly. In May 2017, Litecoin transferred 0.00000001 LTC from Zürich to San Francisco in under one second.
Not designed to replace Bitcoin, Litecoin was created to complement the OG cryptocurrency. Considered to be a “lite version” of Bitcoin, the altcoin is affectionately known as digital silver, compared to digital gold (what Bitcoin is often referred to as).
Litecoin operates off of blockchain technology, ensuring that it is transparent, immutable, and community-driven. Using a slightly different method to Bitcoin, the altcoin is still mined by active members of the network, with all transactions being verified in the same manner. With no central authority in control, Litecoin is a powerful decentralized currency.
What Is Litecoin Worth
And How Is Litecoin Useful?
Value of Litecoin
Since its inception in 2011, Litecoin has gained approximately 960% in value. Ranking in the top 10 of cryptocurrencies based on market capitalization, establishing the value of Litecoin requires checking the current market price in the moment as cryptocurrencies tend to fluctuate their prices. Keen adopters of the altcoin see its value in high-speed transactions and an excellent means to send money cheaply to international locations.
Great Transfer Option
When looking to send fiat to a foreign location, Litecoin offers an excellent means to do so. The cryptocurrency is designed to process blocks in 2.5 minutes, as opposed to 10 minutes on the Bitcoin network, meaning that your money can reach its destination in a quarter of the time, and at a significantly less cost than transferring the funds through fiat.
What is Litecoin Mining?
Another imperative step in understanding ”what is litecoin” is understanding how the mining process works. Similar to Bitcoin the cryptocurrency is mined using mining rigs operated by members of the community. While Bitcoin uses the SHA-256 mining algorithm, Litecoin uses a newer proof of work mining algorithm, called Scrypt. This memory intensive manner of mining allows individual users to be able to mine, as opposed to being a part of a large mining pool (how Bitcoin is now run).
How Do Litecoin
Transactions Work?
In the same way as Bitcoin transactions work, Litecoin transactions are verified by a miner and added to a block. This block is then added to the blockchain and shared with the entire network. As we’ve previously mentioned, Litecoin requires a shorter block generation time meaning your transaction is verified more quickly. On the website it launched into Ethereum text “In 2016, the blockchain split into two following an attack which tried to steal $50 million raised on a set of smart contracts known as the DAO. The hard fork resulted in Ethereum, the new network, and Ethereum…..”
What Are
Litecoin Transaction Fees?
Much like other cryptocurrencies, the process of transferring them from one wallet to another requires a transaction fee. So what are Litecoin transactions fees? To Litecoin’s advantage, their transaction fees are significantly smaller than most other cryptocurrencies. No matter the size of your transaction, it will always cost 1/1,000 of a Litecoin to process it. Faster and cheaper, Litecoin is a force to be reckoned with.
What Is
SegWit?
In April 2017, Litecoin became the first cryptocurrency to activate Segregated Witness, a protocol layer commonly referred to as SegWit. This layer reduces the size of transactions, allowing more transactions to be added to a block. This in turn means that more transactions can take place for a smaller cost and at a faster rate. Shortly after Litecoin implemented SegWit, Bitcoin too adopted it and since then many others have followed suit.
What Does
The Future Of Litecoin Hold?
The future of Litecoin looks bright. The team of developers have already started working on a number of updates that we look forward to seeing the results of in several months/years time. Some updates that the network is looking to implement are confidential transactions, multi-sig transaction capabilities through Merkelized Abstract Syntax Trees (MAST) and Schnorr signatures.
Why Tap Global is the answer to your
Litecoin needs
Based in the USA
Trustworthy, reliable and global trading based in the USA
Buy a little, buy a lot
We can process transactions as small or as large as you want
Convenient Ways to Pay
Cash, crypto and more: It's always easy to pay with TAP Global
Secured and Insured
We secure and insure your money, so you're always safe with us
For Experts
And Amateurs
Whether you’re an expert crypto investor or a first timer in the world of cryptocurrency, the Tap Global app is where you need to go. We’re at the forefront of cryptocurrency security, and our digital wallet is as safe as you can get. You can easily buy and sell currencies on our secure platform for only the cost of purchase, so you’ll get the best possible deal. Even better, with our Prepaid Mastercard you can easily spend your cryptocurrencies when you need to, without having to go through the trouble of converting them.
Why Tap Global Is The Best For
Buying Litecoin
Buy Litecoin
With Tap Global you can buy Litecoin anytime, anywhere, with our easy to use and secure app. With us, you can track markets and keep up to date with the latest changes to make sure you get the best price.
Hold Litecoin
Tap Global is a digital wallet with a difference. Your cryptocurrency assets are always secure and always accessible, allowing you to hold them when you want, and be certain that they’re safe.
Sell Litecoin
It’s important to be able to sell when the time is right, and with Tap Global that’s never been easier. Our app is the perfect platform for selling cryptocurrency at the perfect time, and making sure you get the most for your money.
Spend Litecoin
It used to be hard to spend cryptocurrency, but the Tap Global Prepaid Mastercard makes it easier than ever. You can pay for purchases with your cryptocurrency without having to worry about transfer times and steep charges.
