Buy Litecoin

buy litecoin

Before we show you how to buy Litecoin, you should know that Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. It was created in 2011 by the MIT graduate and former Google employee Charlie Lee. Lee designed Litecoin based on the Bitcoin code and protocol, with some modifications that he believed addressed certain barriers to its wider adoption.

Differences between Litecoin and Bitcoin:

  • Transaction speed: While litecoin requires more sophisticated technology to mine than bitcoin, blocks are actually generated up to four times faster. Litecoin also processes financial transactions a lot quicker, and can also process a higher number of them over the same time period.
  • Number of coins: Both bitcoin and litecoin have a finite number of coins in circulation. Bitcoin has 21 million coins available, while litecoin has 84 million available – four times more than bitcoin.
  • Market cap: Litecoin has a much smaller market cap than bitcoin, but is still one of the most traded cryptocurrencies.
  • Algorithms: Miners must successfully solve hash functions in order to add new blocks of a cryptocurrency to the blockchain. Litecoin and bitcoin use different mining algorithms, with Scrypt being the hash function used for litecoin, and SHA-256 the hash function used for bitcoin.

Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin.

How to buy Litecoin in Europe

Buying Litecoin on Europe’s leading retail broker for buying and selling Litecoin, IOTA, Ethereum and other cryptocurrencies is easy, fast and secure. With a PSD2 payment service provider licence, state-of-the-art security and streamlined user experience, Bitpanda has grown into a popular trading platform.

How to trade Litecoin with eToro

Since the early days of Blockchain eToro has been a global fintech leader to provide you with a complete crypto trading solution. eToro is the world’s leading social trading network, with millions of registered users and an array of innovative tools. After pioneering Bitcoin trading in 2013, eToro expanded its cryptocurrency offering and began servicing the US market. Stay tuned for more to come…

Cryptoassets are volatile instruments which can fluctuate widely in a very short time frame and, therefore, are not appropriate for all investors. Trading cryptoassets is unregulated and, therefore, is not supervised by any EU regulatory framework. eToro (Europe) Ltd., a Financial Services Company authorised and regulated by the Cyprus Securities Exchange Commission (CySEC) under the license # 109/10. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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Cryptoassets are volatile instruments which can fluctuate widely in a very short time frame and, therefore, are not appropriate for all investors. Trading cryptoassets is unregulated and, therefore, is not supervised by any EU regulatory framework. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.