Review of Litecoin Cryptocurrency: Forecasts, Advantages and Disadvantages

The abundance of coins on the cryptocurrency market makes it multifaceted and diverse. Currently, there are more than a thousand different coins and tokens that perform completely different functions. In this article we will review a high-capitalization coin; at the time of writing, it occupies an honorary sixth line in the rating of Coinmarketcap – we are talking about Litecoin.

Contents:
(please, click the topic to scroll down to it)

  1. What is Litecoin? History of the coin
  2. How to create a Litecoin wallet?
  3. Advantages and disadvantages of Litecoin
  4. Mining of Litecoin
  5. The rate of Litecoin and forecasts for the second half of 2018
  6. Conclusion

1. What is Litecoin? History of the coin

First of all, Litecoin is a cryptocurrency, based on the technology of blockchain. That is, it is absolutely decentralized, no intermediaries, institutions or central firewall are needed for its operation. The functioning of the system is provided by all members of the community, each of which has absolutely equal rights. Each member of the community acts both as a user and as a server. This is similar to the peer-to-peer network used for downloading and distributing files (uTorrent).

Anyone who has access to the Internet can store his/her money in Litecoin (as well as in any other coin). At the same time, users have the opportunity to control their own funds independently, without supervision of banks and other financial structures. Litecoin is a digital currency, which can help you to receive and send transactions  almost instantly and with a minimum commission.

History of the coin

The main developer and creator of LTC is the American programmer Charles Lee. The coin was first launched on the 13th of October, 2011. It was the fork of Bitcoin, which solved some of the flaws of the world’s #1 coin. Litecoin gained popularity in the first quarter of 2013, and then the first significant jump of its rate happened, which led to the appearance of a coin in the top-10 cryptocurrencies of the world.

2. How to create a Litecoin wallet?

As we mentioned  above, this coin is the oldest altcoin, which was formed back in 2011. Litecoin is quite a popular coin, it is even called “digital silver”, so the overwhelming number of wallets support it. There are several variations of cryptocurrency wallets:

  • hot desktop or mobile;
  • cloud;
  • cold.

You need to determine what actions you will be making with the help of this coin to choose a wallet that will meet your requirements. Let’s say that if you decided to make a significant long-term investment in Litecoin, a cold wallet is best suited for such purposes. But if your interaction with the coin occurs several times a day, then an online or a hot wallet will be perfect for you. We recommend you to read this article in order to find out more about cryptocurrency wallets and decide what exactly you need.

3. Advantages and disadvantages of Litecoin

Let’s go over the advantages of LTC:

  • the main virtue of Litecoin cryptocurrency is its work speed (if you compare it with the classic Bitcoin, then the closing speed of the blocks is four times faster (10 minutes for BTC, 2.5 minutes for LTC);
  • it has open source code;
  • the basis of its work is the Scrypt algorithm;
  • transactions have a minimum commission.

The main disadvantage of Litecoin is its absolute anonymity, which creates a bad image for the coin, as it is often used for illegal things in DarkNet.

4. Mining of Litecoin

It should be noted that the profitability of mining any coin is far from permanent. The amount of profit obtained depends on many factors:

  • equipment capacity;
  • complexity of the system;
  • coin rate, etc.

Before proceeding to the mining of any coin, not just Litecoin, you should analyze all the abovementioned factors. The complexity of the system usually grows in direct proportion to the number of miners.

Let’s remember how much Litecoin cost in the March of 2017, at that time its rate quickly rose to $30 per coin. Then mining on ASICs became profitable. This led a large number of miners to the market, because of this, the system complexity increased a lot and it became unprofitable to mine Litecoin.

If we talk about the situation with the mining of Litecoin as of mid-2018, then it should be said that there are no big players in the market. This opens up opportunities for private small enterprises to try themselves in this field. However, we want to point out that the rate leaves much to be desired so far.

5. Litecoin rate and forecasts for the second half of 2018

Litecoin currently (end of June, 2018) costs $79 per coin. The peak of the rate was fixed on the 19th of December, when it reached the price point of $364.54. Many analysts still consider investing in Litecoin a rather promising occupation. The average positive outlook of analysts is as follows: $500 by the end of 2018. But the development team led by Charles Lee will have to spare no efforts to make this happen.

6. Conclusion

Litecoin is the first fork of Bitcoin. It was launched back in 2011. It uses the Scrypt algorithm, which allows it to be more efficient in a number of ways than the original Bitcoin. The coin is completely anonymous. Transactions in Litecoin run four times faster than those of BTC, and commissions in the system are almost nonexistent.

According to analysts’ forecasts, the coin has a promising future, but you should not listen to all the statements that you find on the Internet. Do not take them for real, as practice shows, not all of them turn out to be true. As for Litecoin, all the news are rather neutral, and there are no fundamental reasons for it to drop. Litecoin should go up together with the whole market, when the latter comes out of the hole which it fell into in 2018. We are all looking forward to it.

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Cryptocurrency Prices Today, March 19: Bitcoin Remains in Place

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coin360, Bitcoin (BTC) remained stable over the past 24 hours and lost 0.08%. The price at the time of writing is $3982 per coin.

Cryptocurrencies are mostly in the green zone:

Bitcoin Cash added 0.75%, Bitcoin SV lost 1.84%, the value of coins is $157 and $65, respectively;

Ripple minus 1.78% and costs $0.31;

EOS plus 0.13%, and its price is $3.7;

Litecoin added 0.3%, and its value is $59;

Cardano dropped by 0.65%, and its cost is $0.049;

Stellar added 6.7% and costs $0.11;

IOTA gained  1.7%, and its cost $0.29;

Dash fell by  1.36%, and its price is $91;

Monero added 1.25% and costs $52

Over the past 24 hours, Ethereum lost 0.5%. The rate of the coin is $136.

The total market capitalization is $140 billion. Bitcoin accounts for 50.8% of the total volume. In monetary terms, this is $71 billion.

Cryptocurrency Prices Today, March 18: Bitcoin Became Entrenched At $4000

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency Rate

According to the Coin360 online platform, Bitcoin (BTC) remains stable over the past 24 hours and added 0.69%. The price at the time of writing is $3988 per coin.

Cryptocurrencies have changed a lot in price:

Bitcoin Cash added 5.99%, Bitcoin SV lost 0.29%, the value of coins is $157 and $66, respectively;

Ripple grew by 1% and costs $0.31;

EOS decreased by 0.8% and its price is $3.71;

Litecoin fell by 2% and its price is $59;

Cardano dropped by 0.07% and its cost is $0.049;

Stellar added 0.2% and costs $0.10;

IOTA lost 1.8% and its cost is $0.29;

Dash increased by 2.8% and its price is $92;

Monero became cheaper by 1% and costs $51.

Over the past 24 hours, Ethereum has lost 0.5%. The rate of the coin is $136.

The total market capitalization is $139 billion. Bitcoin accounts for 50.8% of the total. In monetary terms, it is $70 billion.

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TOP 5 Most Convenient Applications To Use And Work With Cryptocurrency

Cryptocurrency is one of the most promising and growing industries in our modern world. It is becoming more and more valuable to our society, as well as to the nations’ economies and banking systems, since people prefer more convenient ways of trading and transferring money. We therefore offer you to look at top 5 apps that the most convenient in using and working with crypto.

1. Keymano

Keymano is a top wallet that provides a customer with a myriad of opportunities. It’s very convenient, fast and secure. Managing crypto or fiat money through Keymano wallet is easy. Using Keymano wallet anyone can sell, buy or send crypto on the go. It is user-friendly and straightforward.

Connect Keymano Card and Wallet to get even more functions. This Card allows you to make payments online and in-store. Moreover, the user can withdraw cash at any ATM terminal.

Keymano is a fully-featured product which not only simplifies managing crypto but also creates more ways to use it. With Keymano any transaction (from buying coffee to money exchange) is simple and always available in any part of the whole world. Having Keymano you can:

  • pay with crypto in any part of the world;
  • pay with BTC, ETH, etc;
  • manage multiple currencies in one App;
  • pay online or in-store using Keymano Card.

2. 365Сash

365Cash is a platform that provides services to users in different countries by organizing P2P transfers of digital assets. By the time of publication, the platform overcomes 850,000 cryptocurrency swaps. Such a big number extols this platform over others on the market. The service also possesses the following features:

  • Its own large ecosystem which uses nodes for cryptocurrencies and works automatically.
  • The most favorable rates for customers. The service earns on the difference in sales rates due to a large flow of customers and hedging the risks of cryptocurrency fluctuations.
  • Fully automatic system of receiving and paying funds to customers using the most popular payment system in Russia – Qiwi.
  • In future, it is planned to expand the pool of available cryptocurrencies.

3. Quppy 

Quppy is multicurrency payment system with unique cross-platform applications.The wallet provides users the ability to share crypto assets via different accounts inside one single wallet as far as within a decentralized storage system. By the end of the month, users will be able to withdraw money in euro. The platform also have some interesting features:

  • Sharing all your crypto assets through various accounts on one single platform.
  • Superior security for users based on blockchain technology.
  • Fast cryptocurrency exchange and instant transactions;
  • Multicurrency support including Bitcoin, Bitcoin Cash, Litecoin, etc.
  • Integration of Nexo – a service of the world’s fastest instant credit.

4. Chatex

Chatex is a platform that makes transfers, exchanging or paying for goods much more easier for every customer. Cryptobanking facilitates access to the use of cryptocurrency for those who have never had a cryptocurrency wallet and who do not want to understand difficult passwords, 12 words, etc. The service eliminates the possibility of loss of big passwords or phones, since it allows you to regain access during a personal appearance to the certification center. Unique feature are:

  • The wallet is protected by an additional PIN-code and in exchange transactions between people.
  • Instant internal transfers without commissions. Instant purchase with any VISA/MC.
  • Respond quickly to digital assets management requests from your smartphone.

5. Waves

Waves is revolutionary mobile app which enables users to connect to the network and make transactions. It is a comprehensive, all-in-one app for mobile devices with an absolutely unique feature set that includes a crypto wallet, the Waves DEX, and fiat gateway. The biggest advantages of the platform are:

  • All traffic is encrypted, hence privacy and security are fully provided. Private keys never leave users’ smartphone and are never exposed to the web.
  • Supporting Face ID, Touch ID and Fingerprint scanning.
  • Trading on DEX, with the great tools and charts, it provides access to fiat and crypto gateways, so the customer can deposit, store, trade and withdraw other assets.
  • The customer can send tokens to one’s address book contacts, lease one’s WAVES, receive warnings about suspicious tokens and burn any spam assets he/she doesn’t want.

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Cryptocurrency Prices Today, March 15: Cryptocurrencies Are Rising in Price

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coin360, Bitcoin (BTC) added 0.48% in the past 24 hours. Price at the time of writing is $3888 per coin.

Cryptocurrencies moved to the green zone:

Bitcoin Cash added 3%, Bitcoin SV gained 1%, the cost of the coins is $133 and $65, respectively;

Ripple grew by 0.25% and costs $0.31;

EOS increased by 1.3%, and its price is $3.6;

Litecoin added 1.9%, and its value rose to $56;

Cardano grew by 7.6%, and its cost is $0.049;

Stellar lost 2.6% and costs $0.10;

IOTA added 2.9%, and its value is $0.29;

Dash increased by 2.5% and its price $89;

Monero gained 0.4% and costs $51.

Over the past 24 hours, Ethereum became more expensive by 1.3%. The rate of the coin is $133.

The total market capitalization is $135 billion. Bitcoin accounts for 50.9% of the total volume. In monetary terms, this is $69 billion.

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Cryptocurrency Prices Today, March 14: Cryptocurrencies Are Stable

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: cryptocurrency rate

According to the Coin360 online platform, Bitcoin (BTC) remains stable over the past 24 hours and has lost only 0.43% in price. The price at the time of writing is $3863 per coin.

Cryptocurrencies have not changed significantly in price:

Bitcoin Cash added 2.9%, Bitcoin SV lost 0.9%, the value of coins was $129 and $65, respectively;

Ripple dropped by 0.2% and costs $0.31;

EOS grew by 1.4% and its price is $3.57;

Litecoin increased by 1.75% and its price is $55;

Cardano lost 1.25% and its value is $0.046;

Stellar added 6.4% and costs $0.10;

IOTA has become more expensive by 1.4% and its cost is $0.28;

Dash decreased by 3.9% and its price is $87;

Monero added 1.9% and costs $51.

Over the past 24 hours, Ethereum has lost 1.56%. The rate of the coin is $131.

The total market capitalization is $134 billion. Bitcoin’s share is 51.1% of the total. In monetary terms, it is $68 billion.

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Baksman: Fast And Instant Cryptocurrency Exchange

Trading is nothing without buying and selling, the same goes to cryptocurrency. Thousands of crypto related people conduct tens of transactions every day. What do they need most? Of course, it is a fast and instant exchange – Baksman. So, let us dive into the speed and accuracy of the best exchange across the Europe and Asia.

Advantages of the Baksman exchange

Baksman is a crypto platform which provides exchanges in all the most demanded directions, if the customer is not satisfied with the proposed ones, the platform is ready to separately consider other fronts. The Baksman exchange is the official partner of the payment systems, such as PerfectMoney, ADV cash, Payeer, Capitalist. Their capabilities include working in rare directions like ePayments services, banks of Kazakhstan and it is not the limit. The service is constantly improving and upgrading its functionality. The platform is able and is ready to provide individual support for a client.

One of the biggest advantages of Baksman is a non-stop work. The exchanger works 24 hours a day and 7 days a week. The average processing time for transactions takes 5-15 minutes. More importantly, the technical support is always online and ready to answer any questions; the assistance is provided regarding to the functional wallets and other systems. Thus, no matter problem you have met, you can easily find to solve it.

In order to make the customer even more satisfied, the Baksman team has developed an app on the Android and IOS platforms, which can be downloaded and installed on a smartphone.

For EXMO Exchange users, the platform has allocated a separate direction of EXMO codes with the top list of cryptocurrencies. Users do not need to send funds to the network to transfer them and wait for confirmation of the transaction in the network, he/she just should create an Exmo code and transfer it to the service for exchange. It is very convenient and fast.

Comfortable Coin Converter

The platform offers you an extremely convenient calculator estimating how much you get if you spend a particular sum of money or crypto. The service provides options for:

  • 24 crypto coins, like Bitcoin, Ethereum, Litecoin;
  • 20 EPS, including Yandex Money, QIWI Rub;
  • 16 banks, such as Raiffeisenbank, Alfa Bank, Tinkoff.

Stylish design and fast calculating will make your experience of exchanging assets unforgettable.

Referral Program and Discount System

The project offers its partners a referral program which includes two layers giving the opportunity not only receive income, but attract referrals. If the user refers to the first level of referral, he/she will get 0.6% of the turnover, if second level, the income payment will accumulates for 0.2%. All you have to do is to become a partner Baksman and you will get your revenue.

In addition, Baksman has developed a discount system. What is more pleasant, that it is cumulative. Its value is determined by the total amount of operations performed by the participant for the entire time of using the resource.

If you still hesitate, please, follow the link and find more information about this exchange.

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