The Complete Guide To Selecting Your Litecoin Wallet
Last updated on September 10th, 2017 at 10:36 pm Your Litecoin wallet will be perhaps the most important tool you have for securing and protecting your Litecoins and other digital currencies, so make sure you take some time to familiarize yourself with them! Like Bitcoins, Litecoins can be stored in a digital wallet. This wallet will track the total value of your Litecoins and allow you to conduct various transactions. It might be easier to think of your ewallet as a sort of email system, except instead of sending and receiving messages, you can send and receive Litecoins and money. You can also track your history of exchanges and monitor your financial transactions. Webwallets You store your Litecoins on someone elses sever. Desktop / mobile wallets You store your Litecoins on your device (e.g. your laptop). Each type of wallet has its pros and cons. Webwallets are risker since someone can hack the companies servers and steal your coins, but on the other hand you can use them from anywhere in the world. Offline wallets are considered safer since someone will need physical access to your computer to steal them, but you will also be able to send Litecoins only from that specific device. Some wallets are completely free, while other wallets charge fees for various transactions. Make sure you read any fine print when choosing a wallet and pay close attention to any fees, as they can add up very quickly. There are several Litecoin wallets currently available, so we will go over some of the most popular options. Unlike Bitcoin there arent many options for Litecoin wallets, so I tried choosing the top 3 for you to cosider. Hardware wallets These wallets are a small piece of hardware that connects to your computer via a USB portal. They allow you to send and receive Bitcoins Continue reading >>
Pluses And Minuses Of Litecoin
So I have been skimming the info on litecoin, but it all seems to be by proponents. Can someone break down the positives and negatives of litecoin compared to bitcoin? I'll put out the obvious ones that I know of: * Faster transaction time (blocks are ~ 2.5 minutes) * Less merchant support than bitcoin (none?) So I have been skimming the info on litecoin, but it all seems to be by proponents. Can someone break down the positives and negatives of litecoin compared to bitcoin? I'll put out the obvious ones that I know of: * Faster transaction time (blocks are ~ 2.5 minutes) * Less merchant support than bitcoin (none?) Thus far all the con's seem related to the relative youth of LTC as a coin, hopefully it will grow in such a way that the cons are mitigated. I have a bounty running to develop a QR transaction client to help with real-world transactions. The major concern of the coin being 51% is real, however, I hope that spreading interest in Litecoinpool.org's web miner can leaded to a greater distribution of hashing power. LTC is much younger then bitcoin. I'm sure it also didn't look so super-stellar compared to cash after only 8 weeks or so. :-) Why not help it grow? So I have been skimming the info on litecoin, but it all seems to be by proponents. Can someone break down the positives and negatives of litecoin compared to bitcoin? I'll put out the obvious ones that I know of: * Faster transaction time (blocks are ~ 2.5 minutes) * Less merchant support than bitcoin (none?) Thus far all the con's seem related to the relative youth of LTC as a coin, hopefully it will grow in such a way that the cons are mitigated. I have a bounty running to develop a QR transaction client to help with real-world transactions. The major concern of the coin being 51% is real, however, I Continue reading >>
Better Alternative To Bitcoin Litecoin (ltc) Overview
Litecoin is an open source, peer-to-peer cryptocurrency project aiming to provide the world with a digital currency option. Litecoin is one of the oldest cryptocurrencies in the space using blockchain technology for transactions similar to bitcoin. Litecoin provides a better solution to digital currency transactions because it allows for faster processing times.Litecoin and bitcoin are very closely aligned. BTC uses SHA265 encryption and LTC uses Scrypt.If a flaw is found in SHA256, then LTC security would be unaffected. The same principle applies if there was an issue with scrypt. Litecoins practicality is to be used for more of an everday purchase payment currency. This is because litecoins price is much lower and it has 84 million coin cap (bitcoin has 21 million). Litecoin is usually referred to as the silver of the digital currency world while bitcoin being the gold. Be sure to follow Cryptocolumn for updates! Best of all it's free! Scrypt algorithm Intended to keep ASIC miners out to better distribute hash power among the users. There is a semi-efficient ASIC implementation but it is still better distributed than Bitcoin.LTC can be mined using GPUs (AMD). Despite this, miners are still heavily invested in the coin overall. Fast transactions Litecoins blocks complete in 2.5 minute blocks while bitcoin is every 10 minutes. Instead of waiting 10 minutes per block (average but varies due to network congestion), Litecoin is only around 2.5 minutes. Early Segwit adoption Anti-spam transaction filter Litecoin implemented an effective anti-spam filter very early on. Bitcoin implemented an updated fee structure which is similar to the anti-spam function but later. Litecoin was the first cryptos to implement Segwit. The segwit and anti-spam filter has both helped reduce Li Continue reading >>
Cryptocurrency Pros And Cons
Alternative spending solutions are becoming more prevalent today, giving consumers additional avenues to spend their hard-earned cash. As faults in economic systems become apparent as in the case of the massive Equifax data breach consumers begin looking for alternative sources to safely spend their money. Some are considering avenues like bitcoin and Litecoin as a solution, cutting out the middleman (i.e. banks and government). How does the exchange work? Take a look at the image below, provided by BlockGeeks.com , followed by some of our pros and cons. Each bitcoin has a unique, detailed history, making it nearly impossible to fake or replicate. This story is generated through the blockchain ledger that follows each and every digital currency throughout its entire existence. Cryptocurrency has more measures in effect to protect the user from identity theft, as provided by each units blockchain. Payment fraud is unlikely with the use of cryptocurrency payments. Direct transfers result in an immediate, indisputable settlement that cannot be altered by the sender. Typically, there are no transaction fees for cryptocurrency exchanges, as each bitcoin miner is compensated through the network with newly issued bitcoins. Cryptocurrency could become illegal due to its former use in purchasing illegal items and lack of formal regulation. There is no way to protect your digital currency from fiduciary fraud or if you forget your password, have a computer glitch. Digital currency can be easily stolen if not kept secure, as in the case of a Bloomberg anchor who flashed a Bitcoin bill on TV long enough for a viewer to steal it. There is only a finite number of bitcoins that can be created, capping out at 21 million. Bitcoin has shown to be 5 times as volatile as gold and more tha Continue reading >>
About Litecoin (ltc)
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Is Litecoin Faster Than Bitcoin?
The complex production process, the so-called "mining", is 4 TIMES faster in LTC than in bitcoin, so that a maximum of up to 84 million units can be converged. In Bitcoin's shadow, the Litecoin has already achieved some success, but also hit a flat growth in the recent couple of weeks. All in all, the profitable entry into mining of Litecoins is still much easier than with Bitcoins. With Bitcoins, you can hardly achieve anything without big investments in your rig. However, Litecoins could also develop in this direction in the near future as the competition becomes steeper. In the meantime, websites such as Cryptocurrency Mining vs. Bitcoin Mining Profitability already exist, where you can check daily which cryptowie would be the most profitable to mine. Yes, both in terms of Mining and percentage increase in price. Litecoin is good coin with a better technology backing it. Litecoin mining is 4x faster than Bitcoin. Litecoin is gaining more interests from Institutions and retail investors, due to Atomic swap, Litecoins and Bitcoins can switch very easily. Bitcoins have 21 million coins, whereas Litecoins have 84million coins totally. Since the proportion is 1:4, the price of Litecoin cannot increase beyond 25% of the price of Bitcoin. Litecoin is technically undervalued compared to Bitcoin, a sleeping coin that might wake up any moment now. If you consider the increase in price, Litecoins will increase faster when compared to Bitcoin. Sign up using my invitation link and get $10 free in Bitcoin while making a purchase of >=$100 in Bitcoins. Sign up here and enjoy free Bitcoins. Continue reading >>
Top Five Litecoin Wallets: Pro And Cons Included
Top Five Litecoin Wallets: Pro and Cons Included Litecoin (LTC), the younger brother of Bitcoin, is a lot more stable and accessible by ordinary investors. It is not only more abundant than Bitcoin, but it has attracted more people towards it lately and the procedure of storing it in wallets has been the search of many search engines on the internet. Litecoin wallets work on a different pattern than traditional pocket wallets. They dont hold actual currency; they just hold records of transaction. There are software wallets, hardware wallets, and paper wallets as well. Software wallets consist of desktop, online and mobile wallets. Desktop wallets like Litecoin wallet and Jaxx can be downloaded and operated from personal computers. Online wallets are run via clouds that are accessible from computers like LiteVault and Coinsbank. Mobile wallets are similar to desktop wallets but are size limited. Jaxx operates on mobiles as well. Hardware wallets store a users private keys on a hardware device like a USB, even though these wallets make online transactions. Reliable hardware wallets are Ledger Nano S and Trezor Paper wallets are easy to use and highly secure. They are physical copy of your public and private keys. It is straightforward and working procedure allows you to transfer from or to software wallets for earning or spending currency. Choosing your Litecoin wallet depends upon these factors: Do you need wallet for everyday purchases or long term investments? Do you plan to keep only one currency or several of them together? Will you need to access your digital wallet from home or anywhere on the go? How careful are you about not misplacing small things like USB sticks? Are there any transaction fees for using online wallets? Continue reading >>
To Buy Litecoin Is A Must. Heres Explained Why
To buy Litecoin is a must. Heres explained why maggio 13, 2017 Alberto De Luigi 4 comments (English translation of Italian article dating 5 May 2017) Miners approved Segwit on Litecoin. Will this make Litecoin the most technologically advanced currency on the market? Yes. All the other cryptocurrencies, included Bitcoin , cant scale. Without scaling, the more transactions are made in the world, the higher is the waiting time and cost for each transaction (commissions payed to miners) Exactly, which benefits does scalabilityimply? Thanks to scalability, Litecoin is now the only one cryptocurrency which is suit to substitute fiat money like Euro or Dollar for millions of users. The other cryptocurrencies, at the current technological stadium, can only work well as a store of value or mere assets for speculation, with a common destiny: due to the scalability issue, major is their success and diffusion, the less they can be used as a medium-of-exchange for common trades. Since no money is good money if its not a good medium-of-exchange, to invest in assets that cant be what they promise to be might not be a good idea. Bitcoin cant scale now, so its not an exception, but the technology to make it scalable is already existent (the same of Litecoin), it shall only be approved by miners. Bitcoin has a great advantage compared to the other cryptocurrencies in terms of number of users, capitalization, network of developers, wallets, businesses, payment processors, debit cards etc. For this reason, if the upgrade to Segwit was approved, Bitcoin would be back at the top of the mostadvanced technologies, and thanks to the network effect, it would smash whatever competitor, included Litecoin. If only network effect counts, its not explained the success of Facebook after MySpace, or Continue reading >>
Pros/cons Of The Top 10 Cryptocurrencies In Market Cap Everyone Need To Know(1)
Pros/cons of the top 10 cryptocurrencies in market cap everyone need to know(1) This is an article for potential investors and people interested in the hottest ethereum/blockchain project recently. This can also serve as reminding notes to organize information as there are so many altcoin s now and people are easily confused with. Current market cap rankings and information can be found here . Note that this is my personal view and observations and should not be considered as financial advice. Bitcoin(BTC): The first successful cryptocurrency, Owning around 46% of the crypto market. The most accepted and easy to trade crypto in the current market, with sufficient resources online for everyone to learn more about. Has a large community and unlikely to disappear suddenly or found as spam which have happened to other altcoins. High transaction fee and scaling problem: As average block ming time is 10 minutes and blocks in bitcoin are limited to 1MB in size, which allows only 3 transactions per second, number of transactions to be mined raises incredibly. Transaction fee thus increases while miners are prioritizing transactions with a higher fee. See the following transaction fee chart: Consensus problem: Reaching agreement is also not easy in bitcoin due to its large community. There are always different supporters. A good example is the recent solution for scaling problem, SegWit and bitcoin cash(covered later in this article). Some even joke that bitcoin is the Nokia in the world of cryptocurrencies. 2. Ethereum(Ether, ETH): Ethereum is a decentralized platform that runs smart contracts written in Turing complete programming languages such as Solidity. Ether was created as a cost for programs to run in Ethereum. Ethers will always be needed to execute code on Ethereum, Continue reading >>
Pros & Cons Of Litecoin ?
I missed a chance to buy Bitcoins down around $400 [I didn't have the time/patience to open the right account] and wondering if there is any future potential. Are there any major pros & cons I should be aware of? -good insurance for if there is a problem w/ bitcoin -second biggest market cap. second biggest coin. second mover advantage. -Charles Lee has said that he "will quit" Coinbase if it does not integrate LTC. Integrating LTC would instantly bring in thousands of retailers and hundreds of thousands of active Coinbase accounts. -LTC is BTC on steroids. It went from about $1.50 to $49 during the crypto bull market last fall. -Anecdotally it seems the Asian community likes the coin -BTC catches a cold. LTC is on life support with pneumonia. -there are lots of altcoins out there. then again, there were lots of altcoins last fall also. I agree to all the above pro's and con's. Litecoin became immense popular when the ASIC-hardware invaded the Bitcoin-space >> this pushed out all the PC's with VGA cards (whole farms of them in regular houses) to script-mining: especially Litecoin. This ASIC invasion made the Bitcoin space more professional as huge capital flowed into ASIC farms and it pushed the Bitcoin-price up as well (the production-costs per Bitcoin grew and so did the ask-price). Today history repeats: now there are ASIC's coming to the script-space, this pushes out the VGA-miners to other encryption-method-coins (like X11, X13, etc). And professional investment money will flow to Script ASIC-farms >> probably pushing up Litecoin's Ask-price as well. Continue reading >>
What Is Litecoin?
Home Cryptocurrency Litecoin What Is Litecoin? What Is Litecoin? Mohan Garikiparithi Profit Confidential 2017-12-03T06:00:03Z 2017-12-04 06:36:21 what is Litecoin? Litecoin history Litecoin market cap Litecoin chart who invented/created Litecoin what is ltc? Litecoin value Litecoin vs Bitcoin Litecoin vs Ethereum Litecoin advantages Litecoin limitations ltc future value cryptocurrency market An overview of what is Litecoin (LTC), including its launch, its quick ride up and down the cryptocurrency charts, and why its set to reach new highs. Litecoin [caption id="attachment_113940" align="alignleft" width="300"] iStock.com/allanswart[/caption]With hundreds of cryptocurrencies cropping up, it's not surprising that cryptocurrency is becoming the talk of the Internet. Even as you read this, there are more than 1,300 cryptocurrencies out there. And while not even one of those cryptocurrencies has garnered the popularity of the leader of the packBitcointhere are a few that are vying for second place. One of them is Litecoin (LTC). Although it has been in the mix for quite some time now, the question What is Litecoin? keeps popping up often enough to warrant a Litecoin Wiki of its own. Litecoin is a cryptocurrencyan Internet currency that enables a person to conduct an almost-instant and almost-free financial transaction with another person, anywhere in the world. Litecoin is an open source, worldwide payment network that does not have any central authorities. It is released under the MIT/X11 license and the creation and transfer of coins are facilitated by an open source cryptographic protocol.Because this fully decentralized network is secured by mathematical algorithms, it allows individuals to be in complete control of their finances. In fact, ifyou look at the Litecoin hi Continue reading >>
Pros And Cons Of Investing In Cryptocurrency
Investing , Cryptocurrency , Contributors Investing in cryptocurrencies doesnt come without risks, but neither does any other investment type. This rundown of the advantages and disadvantages of investing in cryptocurrency (which is by no means an exhaustive list) can help you better understand the risks and rewards. PRO: Popular cryptocurrencies have shown huge growth in the little time theyve been in existence. Many people are optimistic about the future of Bitcoin and some alt coins as they continue to grow in value and increasingly gain attention from non-tech people. Recently, Bitcoin surpassed the $8,000 mark and it doesnt appear to be dipping soon. Many analysts argue that Bitcoin is the new gold and even predict its value will rise as high as $25,000 within the next five years. While no one can predict the future of a cryptocurrency's value (despite the many who try,) theres a lot of optimism about the potential value of these new investments. The cryptocurrency market is young but that doesnt mean the news is all bad. CON: Cryptocurrency values are highly volatile. While people are optimistic about the future of cryptocurrencies, the market is still quite young and the price of coins can change by hundreds or even thousands of dollars in a day. These shifts can occur for a variety of reasons: Largely, the movement hinges on the potential of cryptocurrencies to become mainstream. Things like good or bad press and statements about cryptocurrencies viability from government officials can have a big effect on the price of cryptocurrencies. However, as the market matures and cryptocurrencies like Bitcoin become more mainstream, the price is expected to settle down. For now, this volatility makes some investors wary of jumping into the market. CON: Bitcoin and other Continue reading >>
Litecoin Can Be Your First Cryptocurrency Investment
Litecoin can be your first cryptocurrency investment 05 Jun 2017 | By Anish Chakraborty While cashless transactions via mediums like Paytm and MobiKwik are quite popular now, the acceptance of digital currencies or cryptocurrencies is also on a rise; some parts of the world will now even accept them instead of cash. While Bitcoin remains the leading cryptocurrency , an alternative like Litecoin is a good first step for beginners. Here's all you need to know about Litecoin. In context: Litecoin - Everything you need to know 05 Jun 2017Litecoin can be your first cryptocurrency investment While cashless transactions via mediums like Paytm and MobiKwik are quite popular now, the acceptance of digital currencies or cryptocurrencies is also on a rise; some parts of the world will now even accept them instead of cash. While Bitcoin remains the leading cryptocurrency , an alternative like Litecoin is a good first step for beginners. Here's all you need to know about Litecoin. Created by a Google employee, Charles Lee, in 2011, Litecoin is the sixth largest cryptocurrency with regards to market capitalization. It is a peer-to-peer decentralized Internet currency, which has almost zero payment cost and facilitates instant payment. It operates on an open source software; released under MIT/X11 license it enables individuals to "run, modify and copy" the software to suit their own needs. Continue reading >>
Just Bought $500 In Bitcoin, Ethereum, And Litecoin Each. What Should I Expect?
I jumped on the bandwagon of everyone around me. Just bought $500 in bitcoin, ethereum, and litecoin each. I tried to research this a bit, they all seem to have their own pros/cons, figured I'd invest an amount that I wouldn't suffer over losing. What are your thoughts on these? Particularly ethereum, as it's supposedly the 'next big thing'? All three are major coins, with Bitcoin having the higher price point, but it may have the shorter life span than the other 2 coins due to its limited technical development. Its centralized with slow confirmation times, so be aware of that. However, I think that is way way down the road, and it will continue to soar. Bitcoin is at 16000 right now , so it will take another 16000 price increase for you to see a 500 dollar profit, so keep that in mind. How long will it take for bitcoin to reach that? Dont know. We shall see. We are in a new world of hyper asset growth, something that does and will not happen in the centralized stock market. However, its a good investment, and you didnt risk much. The other coins you can make some serious coin off of. Ethereum is at 400 something a coin,and litecoin is at 100.00 a coin. Those coins are going to continue grow, not at the rate of bit coin, but I can see them hitting around 5,000 to 10000 per coin in the next year or so, maybe sooner. But expect those coins to soar and flatten throughout their growth. All eyes are on next week. Bitcoin will be entering the stock market as a Fund. How will that impact the crypto world? We shall see. Continue to learn about cryptocoins and blockchain technology, and understand that the cyrptomarket never really slows down. Youre your own bank,so keep an eye on your value. RE: Just bought $500 in bitcoin, ethereum, and litecoin each. What should I expect? 12 Continue reading >>
The Pros And Cons Of A Global Bitcoin Bubble
What is unique about the bitcoin bubble, and the cryptocurrency craze generally, is that its global. Past bubbles havent been global. Only the Dutch bought tulips during Tulip Mania. The dot-com bubble mainly affected the U.S., and the Japanese stock market bubble of the 1980s mainly impacted Japan. But bitcoin exists in an internet-connected world. The smartphones and broadband connections required for trading exist on every continent. If you are in Zimbabwe, where Bitcoin was recently trading for up to $30,000 , you can transfer your fiat currency to a local app , use it to buy the cryptocurrency, and keep the coin at the trading house. Chinese buyers kept the market going in 2014 and 2015, while Japanese and South Korean buyers have flooded the market this year. If you want to pick up some Satoshi (100 millionths of a bitcoin) from the U.S., you may be competing for it against somebody anywhere in the world. This is what people did with gold in the 18th century. The gold was in the bank. Coins and notes symbolized it in trade. The U.S. didnt go off the gold standard until 1933 , and didnt end convertibility until 1971. Bitcoin at a trading house is the same thing, subject to local laws, if any are applicable. (Heres a great tweet on that to make your day merrier.) While most bitcoin was bought in dollars early in this decade, its holders are now far more distributed. Mrs. Watanabe is a term applied to Japans retail investors. These traders are driving the current boom. They are used to trading forex options, leveraged trades on currency, to get around the ultra-low returns available in their home market. Japan may account for 50% of the currency margin trading, according to Deutsche Bank, and now they have turned their attentions toward bitcoin. Thus, while American Continue reading >>