What is Litecoin and how does it work?

Litecoin is a decentralized cryptocurrency, which means that it is not directed by any bank or government entity, but based on the well-known blockchain. It was created at the beginning of 2013 and its value has been low for several years, until April 2017.

If we compare Litecoin with Bitcoin, the father of all cryptos, the differences between these two are not overwhelming. Of course we have to highlight the processing speed of Litecoin when making transactions that is well above the time it takes Bitcoin to be processed, apart from a cheaper fees.

The LTC are not infinite. The maximum amount of coins in circulation will be 84,000,000 LTC, the same happens with Bitcoin and as they say the comparisons are odious but in this case LTC quadruples the number of possible currencies in circulation with respect to BTC.

If you want to know in which Wallet to store your Litecoin we recommend you take a look at this article where we recommend the most recognized Wallets of this cryptocurrency.

To track any Wallet or transaction made with Litecoin you just have to access this website, it is an explorer which gives you the available information of the transactions.

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