The word “cryptocurrency” is on the agenda and more and more we hear about Litecoin. So let’s find out how to buy Litecoin . Today, in fact, a great deal of interest has been sparked among many investors in this area.
When we talk about cryptocurrency we are referring to virtual currencies that are completely managed through the telematic network, there are no central banks that control them; they are simple to use and exchange by creating digital wallets ( wallets ), and all this is done by ensuring the anonymity of the operator who carries out these actions.
There are several cryptocurrencies on the net, one of the most famous is certainly Bitcoin.
This strong focus on a single cryptocurrency has led several traders to look for valid alternatives and, among these, a name that has appeared before our eyes is Litecoin.
But what are we talking about? Litecoin, what is it?
Litecoin was invented in 2001 by Charlie Lee, a former Google employee whose intent was to improve Bitcoin by creating a new cryptocurrency.
In recent years, and through the various reviews of major headlines that have positively reviewed this alternative cryptocurrency, Litecoin has achieved ever greater success.
Litecoin’s transition takes place via an open source protocol without being controlled by any authority, in fact, just like Bitcoin, it is the different “nodes” that exist on the network that determine the value and guide the transitions of this cryptocurrency. Each user can create their own wallet while maintaining anonymity, so no one is able to know which subjects are involved in using Litecoin.
Is buying Litecoin safe?
Since 2013, major newspapers and media agencies, such as the New York Times, Wall Street Journal and The Economist , have positively reviewed Litecoin, also defining it as an alternative, if not a possible successor, to Bitcoin.
In fact, the main goal of the creator of the cryptocurrency was precisely to create a better cryptocurrency than Bitcoin in order to be able to overcome it.
As with Bitcoin, the value of Litecoin is also subject to market fluctuations; However, it is important to note that, according to experts, since 2013 the value of Litecoin has grown to reach a capitalization of one billion, and in 2021, it has managed to achieve a capitalization of approximately 13.3 billion dollars.
The team that deals with the development of Litecoin works constantly, this has allowed over the years to modify some characteristics of this virtual currency in order to improve it.
In 2013 a new version of Litecoin, version 0.8.6.1, made it possible to reduce the transition costs and to further develop the security system.
It should be considered that the risks related to Litecoin are those of the market, when the demand for Litecoin decreases its value it can tend to zero and therefore it is essential to be aware of the possibility of fluctuation of the cryptocurrency, fluctuation that occurs for any currency present. on the market.
Litecoin Vs. Bitcoin
The goal of the Litecoin developers is to make it better than the other cryptocurrencies out there.
So what are the differences that would allow us to argue that Litecoin is better than what is considered the “father of cryptocurrencies”, Bitcoin?
Litecoins, while requiring more sophisticated technology than bitcoins, have obtained, thanks also to the help of its developers, the ability to generate blocks at a speed of four times faster than Bitcoins, they allow transactions to be carried out in a shorter time.
So not only are transitions faster but more operations can also be processed at the same time.
The Litecoin network produces 84 million coins, which is exactly four times more than the Bitcoin network which is able to produce around 21 million.
It should be considered that the capitalization of Litecoin is smaller than that of Bitcoin, however it is still possible to consider Litecoin as one of the currently most traded virtual currencies.
Litecoin, how does it work?
As already mentioned, Litecoin through an open-source protocol allows you to carry out transitions and other operations, guaranteeing the anonymity of those who perform them.
Litecoin issues, transactions and balances are carried out and managed by a network very similar to that of Bitcoin, moreover the Litecoin cryptocurrency can be exchanged for fiat currencies.
Online payments made with Litecoin are made for addresses based on digital signatures, furthermore all transactions are recorded on the Litecoin blockchain .
The Blockchain is a digital ledger that is shared on the network and keeps all the transitions that are made in Litecoin; each transition is grouped into “miners” and “blocks”.
Obviously, everything takes place guaranteeing the anonymity of the operators.
The points in favor of this cryptocurrency would seem to be the speed in carrying out the operations, the anonymity of those who execute them and the security that the development team, through the various updates, constantly tries to improve.
How do you carry out transactions with Litecoin?
The first thing to do to use Litecoin is to create a wallet , or a sort of digital wallet similar to a current account, which allows you to send and receive Litecoin.
To make a wallet safe, it must have private keys that do not allow the various hackers on the network to steal the content in our wallet.
The wallet is a simple tool to use and is compatible with several different operating systems and devices.
The most famous wallet available for Litecoin is Litecoin-QT, which relies heavily on the Bitcoin model.
It is available for Windows, Mac and Android.
But at this point where it is clear what Litecoin is and how it works, the question to ask is: How to trade with Litecoin? In order to invest and earn safely, experts recommend relying on one of the most popular platforms of the moment XTB .
Buy Litecoin with XTB
Logo broker XTB
Logo broker XTB
XTB is a registered trademark of the XTB Group, and is one of the largest publicly traded brokers in the world that allows its clients to have immediate access to a multitude of global markets, including Litecoin trading.
The strengths that XTB possesses, framed by the experts are:
The Technology: The goal of the developers is to make XTB one of the best platforms on the market by constantly improving trading applications by updating to the latest trends, guaranteeing the most advanced technologies to its customers through reliable and functional trading apps;
Reliability: The XTB Group, operating for more than 15 years in the financial markets sector, has managed to gain the trust of its customers by guaranteeing safe investments through the supervision of large supervisory authorities that regulate the company. We are therefore talking about a platform whose security is guaranteed by authorizations and regulations;
Support: XTB always guarantees assistance to its customers through a support team that works 24 hours a day, 5 days a week. Customer assistance is offered via telephone, e-mail, online chat and is available in ten different languages (including Italian).
XTB not only provides assistance to its clients but also offers support and guides them in the world of trading through related courses and webinars.
It might seem surreal but the points in favor of XTB don’t end there.
XTB allows its customers to operate in the world market allowing them to invest in a vast number of world stock exchanges and indices and in any commodity existing on the planet. Furthermore, the platform does not require any commission, it is also possible to invest starting from a minimum capital of 1 euro, which makes it especially suitable for those who do not want to try their hand at investing large sums of money.
The Broker uses XStation 5 as a platform, this is quick and easy to use despite providing a wide range of detailed information and different functions to be implemented. The platform is available not only online but also for smartphones and desktops.
Simplicity, Speed, Security are the characteristics that make XTB one of the best brokers on the net. The guaranteed assistance, the courses and webinars , the absence of commissions, have led the experts to consider XTB one of the best platforms for those who are beginners in the field of trading, not only because there is the possibility to learn through the courses that XTB makes available, but because it is possible to start by investing small amounts of money.
Buying Litecoin: Conclusions
Litecoin was born with the idea of improving Bitcoin, it allows you to manage your money in a free and independent way, each operation can be carried out remotely in a simple and fast way.
All this takes place guaranteeing anonymity and incorruptibility since we rely on a software and not an intermediary. Furthermore, it must be added that through the blockchain transparency is guaranteed to users.
We would like to advise our readers to always invest safely and through authorized and safe platforms tested with attention and respect by the experts in the sector that I loudly propose: XTB .
FAQ: Frequently asked questions
What is Litecoin?
Litecoin is a cryptocurrency invented by Charlie Lee in 2001 born with the aim of improving Bitcoin.
Is buying Litecoin safe?
Yes, it still depends on the security of the platform used.
What is the best platform to buy Litecoin?
The best platform ever at the moment turns out to be XTB.
XTB is one of the largest listed brokers, XTB allows its clients to have immediate access to a multitude of global markets, including Litecoin trading.
