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[BMF]

Litecoin is the second popular cryptocurrency next to Bitcoin. This coin was first released in the year 2011 by a former employee of Google named Charlie Lee. The transfer of coins follows an open-source protocol that is not monitored by any central authority system. Litecoin is fondly called as "Silver Bitcoin" as it is not trying to become a competitor for Bitcoin. The symbol for Litecoin is LTC or simply L.

Pros:

1. Faster Transactions – It is possible to create a new Litecoin block in just 2.5 minutes which means that the transactions will get confirmed quickly. It will take at least 10 minutes to create Bitcoin blocks.

2. Good market cap – As per the recent statistics, Litecoin is in the Top 5 ranks of the market capitalization as it has crossed the margin of $2 billion.

3. SegWit – Litecoin recently has activated the new feature named Segregated Witness (SegWit) into its network which has increased its transaction capacity 8x times more than Bitcoin.

4. Easy mining – The mining algorithm of Litecoin is simpler than that of Bitcoin. So it consumes less power and space when compared with other cryptocurrencies.

5. Low transaction fees – The transaction fees of Litecoin is very less when compared to that of Bitcoin.

6. Lightning Network – This feature has been enabled for Litecoin which will help the users to make transactions outside the blockchain network. Lightning Network will solve the scalability issues and lower the transaction fees.


Cons:

1. The network hash rate of Litecoin is low. It is around 90,000 Mega Hashes per second when compared with 20,000 Tera Hashes per second of Bitcoin.

2. Litecoin is not widely accepted by merchants when compared to Bitcoins.

3. Only a few wallets are available for Litecoin.

4. Many crypto exchanges do not provide support for Litecoin.

 

[Yugocean]

Litecoin is an alternative coin or altcoin; it's price is now getting low and much effected after South Korea debacle, yet it is decentralized, and it can gain again with more people accepting.

 

[overcast]

I don't think litecoin is bad. it seems just that it is not scaling over the years. and nobody is using it for anyting serious. that's the issue with it.

 

[Yugocean]

With new currencies coming up, investors are moving to them, and this is harming old currencies like Litecoin; yet it is still a known name with no chance of turning scam; so people can chaek; litecoin is still nearly $250.

 

[Emill]

With new currencies coming up, investors are moving to them, and this is harming old currencies like Litecoin; yet it is still a known name with no chance of turning scam; so people can chaek; litecoin is still nearly $250.

better said.. it was nearly $250. recently it just went down to less than $200 (its value is $197 atm). if someone wants to make short-term investments on crypto, not hodl their coins for long periods of time, I'm not really sure if Litecoin would be a good choice.. at least not at the moment. but for those who want fast crypto transactions, Litecoin definitely remains among the best solutions

 

[Yugocean]

When litecoin was launched, Many were not aware what will happen, however it was launched by google employee, so I was interested in it. Yet there was no wallet for it then, so I was unable to get any litecoin; now it is raising again, and it can again reach $300+ so time is to take some.

 

[overcast]

I think litecoin didn't made much and I don't think it has any worth anymore now. it is low cost currency. and it is going to be remaining there forever. so you can see that price market needs to be taken into consideration.

 

[Medowriter]

no doubt on that it is a brother of bitcoin and we can make some money by using this site too. Bitcoin is veru famous nowdays and it has a big market in the world. We can earn from lightcoin too.

Generally all coins have droped in price recently but let hope there is a rise in the value soonest cos litecoin has good prospects to increase in value any time soon

 

[Yugocean]

Litecoin price is not that much dropped, it is dropped as all currency rates are dropped; new coins are getting much better return; so it is peopl's choice to invest in litecoin or not.

 

[overcast]

I don't see much of the market for the litecoin. they have low fees. and that's the only way they can be in the market. dogecoin and the litecoin does not seem to have much value in that case. you can see it's not worth it.

 

[Yugocean]

Litecoin price after a huge drom from $300 to below 150 is now in struggling mode just like other cryptocurrencies; however now we can earn fast litoshi in litecoin faucets because of low price.

 

[junrose123]

I received a lot of good reviews about litecoins and I feel optimistic that it would be also a good investment later on.

 

[Yugocean]

It is well known that Litecoin was launched by a former Google employee, so it become popular; yet now it is also struggling like all other cryptocurrencies.

 

[overcast]

Some litecoin and small coins are in demand. because people are dumping the money into them. I am sure someday the coins may increase in cost. but as of now these are not much worth it.

 

[Yugocean]

Litecoin again crossed $200 and it also joined the top 5 in the coin market; Cardano is no longer top five, after returning from February fall this month, change has resulted into more gain by litecoin.

 

[BMF]

On February 19 with the block 1371111, Litecoin will split to create a new chain. The cryptocurrency will be called litecoin cash (LCC) which it will be supported by SHA256 mining equipment. The creator of litecoin, Charlie Lee stated that in his opinion this hard fork could be a scam.

Any opinion regarding this Litecoin hard-fork that will result in Litecoin Cash?

 

[Yugocean]

There is already Litecoin Gold free airdrop going on, but I do not have any Litecoin Gold wallet, so I did not even try now if Litecoin Cash is coming as I am already short of Litoshi.

 

[BMF]

Which LITECOIN wallet are you guys using? Exodus wallet is ripping me off on fees.
Earlier when I checked today the fee was $1 freaking dollar and not is $0.43
Can some explain why the fee fluctuates so much?

 

[Eindhart]

Which LITECOIN wallet are you guys using? Exodus wallet is ripping me off on fees.
Earlier when I checked today the fee was $1 freaking dollar and not is $0.43
Can some explain why the fee fluctuates so much?

I used coinbase. Litecoin transfers fee its only 0.00014, I sent 0.12847676 worth $10 at that time.
For me coinbase is the best for sending and receiving crypto
See th screenshot for details

 

[Yugocean]

I keep litoshi in the coinpot.cc microwallet; you earn coinpot tokes for keeping coins which you can convert to other coins; and there is no fees for sender, only receiver if they are charged by the wallet they use. However coinpot don't do business with coinbase.

 

[Yugocean]

MWEB Update

Litecoin has been upgraded with Mimblewimble Extension Blocks (MWEB) soft fork. This has increased the anonymity of the Litecoin network, which most major exchanges have not announced, but two major South Korean exchanges Bithumb and Upbit have added investment warnings for Litecoin, raising concerns. It is suspected that both of them may delist Litecoin.