Litecoin (LTC) was one of the first altcoins to succeed in the early years of Bitcoin. Both its design and infrastructure are based on Bitcoin, though it differs in some technical characteristics. Litecoin was created with the aim of providing a more popular means of payment than Bitcoin. To do this, its creators sought to make Litecoin faster, safer, and cheaper than its older brother, and in a certain way they succeeded. However, for reasons of technology and scalability, Bitcoin would later catch up with Litecoin in these respects.
The main attraction of Litecoin is that it is already what it was intended to be: a lighter currency than Bitcoin with faster transactions and much lower commissions. This has allowed it to be one of the most recognized cryptocurrencies worldwide.
What are the main differences between LTC and BTC?
When Litecoin was created, the aim was to improve some aspects of Bitcoin, such as the speed of transactions, some security aspects, and commission fees. Litecoin indeed achieved its goal, but these differences between the two currencies have diminished over the years. The remaining differences are in transaction speed and technical aspects, such as the size of the block and the technology implemented in the transactions.
Is Litecoin available on Ccoins?
No. At the moment, we have not yet added Litecoin to our repertoire of cryptocurrencies and stable tokens. We are sure that it will be available on our platform very soon, as well as other cryptocurrencies and tokens.
Can Litecoin be used on Flip?
At the moment, this cryptocurrency cannot be used within Ccoins Flip since we have not yet incorporated Litecoin into our cryptocurrency catalog. Ccoins wallets cannot carry out transactions with Litecoin at the moment. You should not try to deposit Litecoin to your personal Ccoins wallet as you could lose what you send.
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Of course. Litecoin is one of the currencies that was focused on mass payments. You can find physical and online stores that accept cryptocurrencies such as Litecoin as a payment method.
This is because Bitcoin was the first cryptocurrency to hit the market and created the first community of crypto enthusiasts. This allowed Bitcoin to emerge as the number 1 cryptocurrency, thus achieving the largest market capitalization among all cryptocurrencies.
Since Litecoin is a digital currency, its blockchain network is called a cryptocurrency. Although many believe that Bitcoin-based cryptocurrencies are a kind of token anchored to the Bitcoin network, the reality is that most of them have their own network, like is the case with Litecoin.