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What is Litecoin?

“Litecoin is the digital currency for payments that enables instant, near-zero cost payments to anyone in the world.” – Litecoin.org

Litecoin (LTC) is a cryptocurrency that is an alternative to traditional forms of payment like cash, credit cards or checks. The technology makes it possible to transfer Litecoins in a matter of minutes without the use of third parties.

Litecoin is developed by Charlie Lee and was launched in October 2011. The amount of Litecoins is fixed, there will only ever be 84 million Litecoins. The network is open source and is fully decentralized without central authority. The network is secured by using mathematical encryption. Thereby empowering the users to have full control over their finances.

Compared to Bitcoin the features of Litecoin are: faster transaction confirmation time and improved storage efficiency. Next to these technical features, Litecoin has substantial industry support, trade volume and liquidity.

Litecoin is proven to be the medium of commerce.

Litecoin for online gambling

Litecoin is a excellent coin for online gambling. One of the reasons for that is their similar technology. However, there are some differences between the coins as well. Litecoin has an advantage over Bitcoin, namely that the transactions of the Litecoin network take place much cheaper and faster. This is why more and more people choose to use Litecoin in a online casino just like anonymous or Betcoin. This is the reason why Litecoin casinos have gained a lot of popularity recently. Gamblers who use Litecoin really like the fact that you don’t have to wait for a long time before a transaction is made.

Price and Market cap LTC

Best Litecoin wallet

The multi-cryptocurrency hardware wallet with the best price/quality ratio is Ledger Wallet. Use this hardware wallet for storing Litecoin, Bitcoin, Ethereum and Ripple.

Current litecoin price

Just like the bitcoin rate, the litcoin rate has had a turbulent history. You can see that on the graph if you click on ‘everything’ in the range. Below you will find the highs and lows of litecoin at a glance.

Litecoin was launched in 2011. The crypto coin quickly has a value of 26 cents
End of 2013: on 18 November a litecoin is worth around 4.40 euros (5 dollars). Within 10 days the value has increased tenfold to around 44 euros (50 dollars). The demise of Mt. Gox is pulling the entire crypto market down and it will be a long time before litecoin reaches new heights
Early 2017: litecoin starts the year with a value of around 3.50 euros
Halfway through 2017: on 24 August for the first time since 2013, litecoin again exceeds the limit of 44 euros (50 dollars)
End of 2017: like many other coins, the value of litecoin shoots to an absolute high. The value is then around 330 euros.
2018: the bear market of cryptocurrency also takes its toll on litecoin. The value drops to 19.40 euros.
Litecoin recovers amazingly quickly in 2019. In mid-June the value of 125 euros is even tapped.