The Real Smart Money
What is Litecoin?
Litecoin (LTC) is a cryptocurrency built on the premise of quick confirmation times and low transaction fees. These features, combined with the increasing desire to have greater control over one’s finances, are quickly propelling Litecoin towards becoming the new global payments standard for consumers and businesses worldwide.
Litecoin transactions are confirmed faster than other cryptocurrencies like Bitcoin because it generates a block every 2.5 minutes as opposed to Bitcoinâ€™s 10 minutes. This means your money gets to its destination quicker.
Litecoin keeps a record of every transaction in its blockchain, which is near impossible to alter because of the way it is secured through miners and a high hashrate. Essentially, the ledger Litecoin creates cannot be altered.
Whether sending large or small amounts, Litecoin transactions have extremely low fees. Payment processing fees are also far less than those incurred by credit cards and other forms of payment, an ideal feature for businesses.
Litecoin is consistently among the top coins in terms of liquidity. This means it is more readily available for daily purchases and conversions into local currencies.