Recently, people have been paying more attention to cryptocurrencies, in particular those that could replace the Bitcoin. Bitcoin is currently the most popular cryptocurrency available, yet others are starting to gain popularity among the followers of cryptoeconomics. In this article we will share information on how to sell and buy Litecoin online.
Litecoin has shown enough potential to establish itself as an alternative or complement to Bitcoin, since its system is reliable and, according to experts, it would even bring some technical solutions for problems faced by the BTC community. Unlike Bitcoin, whose founder is still anonymous, known only by the pseudonym Satoshi Nakamoto, Litecoin has a creator with face and biography.
How was Litecoin born?
Formed by MIT, Charlie Lee is a software engineer who has worked for Google and has even helped write the code that supports the operating system of the search giant, Chrome OS. As a complementary project to his daily work, he decided to rewrite the Bitcoin, seeking to correct some of the failures he saw in the development of the virtual currency.
In a previous incursion into the arena of alternative currencies, Lee tried to launch the Fairbrix coin, which failed precisely because of technical instabilities. In October 2011, he released a more perfected breeding, which would come to be known as Litecoin. Today, Litecoin can be described as the silver to Bitcoin’s gold. That is, a lighter and more abundant option.
Inspired by a universe in which dozens of other emerging projects of alternative currencies circulate, which Lee calls simply “frauds”, the Litecoin was little by little looking for its space.
Over time, the Litecoin began gaining its own community of miners and interested people, mostly derived from the Bitcoin community itself, and with this it established itself as the second most important currency in the sector. Its value does not yet compare with the BTC, but its growth is taking place more quickly than with the Bitcoin in its early stages.
The future of Litecoin
At dawn on the last day of the 28th November, Litecoin’s economy surpassed the $ 1 billion mark. In January, a Litecoin coin could be purchased for a paltry 0.07 cents, while it is now at 68 dollars. The similarities between BTC and LTC are greater than the differences, but there is a definite technical contrast between them, which helps us to understand the recent popularity of the LTC.
Litecoin is an alteration of the original Bitcoin design. In an effort to prevent the money from becoming excessively expensive over time, and has been designed to release four times more coins than what is possible for bitcoin to do. Transactions are also processed more easily and mining is more ‘inclusive’, allowing regular machines to compete more equitably with the so-called ‘digital drillers’. Adopting a technology called Scrypt.
With the value of the BTC already passing the barrier of US $ 4000, the most famous cryptographic currency is becoming less accessible to an ordinary user, and its mining has long since become an area of specialists and a job only for supermachines.
At still reasonably low prices and with a community still in formation, the LTC presents a viable alternative for regular individuals to start investing in. That is why it is attracting a growing public.
How can I sell and buy Litecoin online?
If you want to buy Litecoins online, you have two options: you can buy them directly or indirectly. Buying Litecoin directly implies that you will be the owner of the asset and that you will have to go through several stages in order to achieve this. It is a process that can become boring and slow. Luckily, as we have already pointed out, there is another option: you can buy Litecoin in the form of CFD.
The best way to take advantage of these lucrative increases is through regulated brokers. This way there is no danger of your coins being stolen or being “lost in the blockchain”. Through brokers such as eToro, Avatrade and Plus500, you can operate with confidence because they are fully regulated and have numerous measures to protect your money.
They offer the simplest and safest methods to buy Bitcoin or Litecoin, along with other cryptocurrencies. Buying Litecoin in exchange houses and keeping them in a cryptographic wallet can be a complicated and cumbersome process, and it is very easy to end up losing coins, for example if you send funds to the wrong address or if you lose your passwords. This will not happen if you use a broker, there is no danger because you are not the owner of the coins, but you can also take advantage of rises thanks to leverage, margin trading and Litecoin CFDs.
Coinbase is the best place to buy Litecoin and other cryptocurrencies. In this site, you will also have access to a digital wallet where you can store your Litecoins, bitcoins, Ethereum, Monero and other digital coins. This digital portfolio service is completely free, so it is recommended that you open an account soon to take advantage of all the features it has to offer.
Remember that you can follow us constantly if you want to find the freshest and most recent news in the world of cryptoeconomics. After starting the year with a value of about $ 7 per piece, Litecoin has just broken the $ 100 barrier for the first time in its history. It is a rise of more than 1000% so far this year, more than Bitcoin and Ethereum! Buy your Litecoin and take advantage of this positive boost in the market!