Litecoin is a peer-to-peer Internet currency that allows immediate, almost free payments. Litecoin is an open source, global payment network that is fully decentralized without central authorities. The network protected by mathematical calculations makes it possible for everyone to manage and control their own finances worldwide at extremely low costs.
Litecoin has faster transaction confirmations than, for example, the Bitcoin. With substantial support from the business community, trading volume and liquidity, Litecoin is a proven trading medium complementing Bitcoin. The Litecoin is therefore sometimes called the little brother of the Bitcoin because both have many similarities.
How are Litecoin created?
Litecoins are made by the Litecoin network itself up to a maximum of 84 million pieces. Litecoins can be earned by making computing power available. Unfortunately it is no longer profitable to do this on a normal computer. You can still earn good money with Cloud Mining.
Where can you buy Litecoins?
Litecoins can be purchased in many places on the Internet. The easiest way is to buy them through a so-called exchange office. These exchange offices purchase Litecoins and then sell them back to the user with a small surcharge. Another way is to buy them through an exchange. such as Poloniex. An exchange does not buy or sell Litecoins or other digital coins, but brings Litecoin providers and buyers into contact with each other.