What is Litecoin?

Although the most popular cryptocurrency is bitcoin, there are many alternatives, such as Litecoin

Litecoin was created in 2011 and is an open source software project and peer-to-peer cryptocurrency. The creation and transfer of the coins are based on open source cryptographic protocol, which is not managed by the central authority.

Litecoin is reported to be quicker and cheaper than bitcoin.

Ready To Spend Your Bitcoin, Ethereum, Ripple, Litecoin, and Other Cryptocurrencies?
Within minutes you can register for a Unbanked account, add funds, pass KYC, get a virtual card and make purchases anywhere major credit cards are accepted. Register at no cost to you.
  Register Now

Bitcoin and Litecoin are often compared; however, Litecoin transactions are 1/50th of the size. To many, this means it is a more sustainable option. The price of Litecoin changes to reflect the demand on the currency. Much like supply and demand in many other industries.

Litecoin has purchasing power, and it is possible to mine it as well. You’ll need a high powered computer to mine Litecoin. These high powered computers will solve the mathematical equations that support the blockchain. 

The limit for Litecoin is around 84 million. This figure was created as bitcoin has 21 million, and Litecoin was intended to be 4x faster. In December 2019, there had been approximately 63 million Litecoins mined, which makes up roughly 74% of the total available. The reason for the fixed amount when it comes to cryptocurrency is that unlike other currencies, inflations will not impact the value. 

Litecoin was created by Charlie Lee, who attended MIT and graduated with a Master’s degree in computer science in 2000. Using the core code from bitcoin, along with some code and protocol modifications, should allow for large-scale adoption of Litecoin. 

Buy Bitcoin With Your Unbanked Bank Account
Buy Bitcoin and other cryptocurrencies with your crypto friendly bank account from Unbanked. Purchase Bitcoin and other crypto instantly and settle to your crypto wallet.
  Register Now

Want to know more about Litecoin? Open up an online bank account, deposit your crypto, and start using your BlockCard as soon as your application is complete.

The Latest

What is Dash Crypto

What is Dash Crypto? Dash Coin Highlight

Bear markets are the best time to invest in stocks and cryptocurrencies. If you have money to invest, you can pick up top-tier cryptocurrencies for bargain prices during a bear market. A digital currency hot on many investors’ radar is Dash, a DeFi cryptocurrency with massive potential. We’ll highlight what Dash is, how it works, and whether it’s… Read Article

How to Value Cryptocurrency

How to Value Cryptocurrency to Know What to Buy

When investing in cryptocurrencies, investors need to vet the projects before they invest. Because the cryptocurrency market is largely unregulated, it is often compared to the Wild West, where you can strike gold and be robbed blind. In 2021, investors lost $2.6 billion in pump-and-dump coins or other junk tokens. To avoid scams, rug pulls, and weaker projects,… Read Article

Why is Cryptocurrency Valuable

Why is Cryptocurrency Valuable? A New Investor Guide

It’s hard to look at any financial website and not see some mention of cryptocurrency. However, with all the hype around cryptocurrency, it’s tough to filter through what’s true and what’s not. One common question is, what are the factors that make cryptocurrency valuable? We put together this investment guide for new investors to explain… Read Article

What Causes Cryptocurrency to Rise and Fall

What Causes Cryptocurrency to Rise and Fall

16% of Americans invest in cryptocurrency, and that number is expected to grow. But with cryptocurrencies being such a volatile asset, it is challenging to know the best time to buy and sell. We’ll explain what causes these explosive rises and falls in cryptocurrency prices so you can invest more wisely. Key Crypto Market Indicators that… Read Article


6.38%

Crypto Rewards
on Spend

You also have access to:

BANK ACCOUNTS
DEBIT CARDS
BUYING, SELLING, & SPENDING CRYPTO


ARE YOU READY TO GET UNBANKED?


Nah, I enjoy high fees...

x