Litecoin Price (LTC)

Litecoin (LTC) is a cryptocurrency created to build upon the foundations laid by bitcoin and offer faster, lower-cost payments using blockchain technologies. Created in 2011, Litecoin is the second-known crypto-asset created and one of the first ‘altcoins’ – a cryptocurrency that is not Bitcoin – in existence.

Litecoin is a fork of Bitcoin and shares many of the same features as the market-leading asset, like its decentralised design, the removal of intermediaries and uncensorable transactions. In essence, Litecoin was designed to be a ‘lite’ version of Bitcoin – hence the name Litecoin – and is now often referred to as the “silver to Bitcoin’s gold”.

The Litecoin blockchain includes faster transaction confirmations and much lower costs compared to Bitcoin, making it viable to users as a payment option for merchants seeking greater diversity and transferring funds globally.  

Litecoin is now one of the most widely accepted cryptocurrencies globally and is used by leading merchants worldwide both inside and out of the cryptocurrency industry as a form of ‘digital money’ similar to Bitcoin.

Like Bitcoin, Litecoin also has a fixed supply. Litecoin’s total fixed supply is 84 million coins, which is four times that of Bitcoin’s 21m.