Litecoin (LTC) is an open source digital currency that allows low-cost peer-to-peer payments from anywhere in the world. The transaction fees of trading Litecoins globally is way far less compared to those of credit cards or bank transfers. The LTC blockchain eliminates authorities such as banks and relies on complex mathematical algorithms to handle digital transactions throughout the world.
Apart from the digital currency’s impressive storage, the payments are handled via a secure network that ensures everything runs efficiently. Besides, LTC is capable of handling a higher volume of transactions compared to its major competitor Bitcoin (BTC). Merchants can safely view the status of their transactions through secure wallet encryption.
If you want to purchase Litecoins, consider the following ways:
You can now trade Litecoins with XTRgate. In this fast-growing cryptocurrency industry, Litecoin has established itself as the silver of Bitcoin’s gold. In fact, that is how its founders referred to it at its 2011 launch.
XTRgate is a user-friendly platform that allows you to trade long or short on-the-go. In other words, regardless of whether you are cynical or optimistic about the future of various digital currencies on the market, you can buy or sell Litecoins. You can do this with XTRgate’s free mobile device apps.
All you need to start trading Litecoins is open a new contract where you agree to exchange your LTC price difference from an open position until you close it. The factors that affect the price of Litecoins are similar to what affects the value of Bitcoins and other digital currencies.
However, there are other factors that you need to watch out for, such as:
As a trader, it’s crucial to know how various major economic events affect the markets. At XTRgate, we offer you an opportunity to access current financial news from leading news agencies.
On our economic calendar, you’ll find all the information you need about the different currencies and the impact of current news on different digital currency trends. This is a perfect way to understand various market trends in order to trade wisely.
It’s crucial to analyze various markets and know how Litecoin is performing in the markets before you start trading. Remember, there are other players in the industry, such as Bitcoin and Ethereum. So, we use an easy-to-understand Video Chart Analysis to help you understand these complex market trends. This means that you’ll be in a better position to make more informed trading decisions.
Trading cryptocurrencies can be a confusing and overwhelming process for first-timers. Therefore, you need lots of introductory courses and tutorials before you start trading profitably. We offer introduction courses that cover areas such as Economics, ECN, Social Trading, and MetaTrader Mobile.
You’ll also have access to an in-depth course about cryptocurrency trading. If you want to be more equipped before you can start trading and minimize risks, consider reading through our Cryptocurrency eBooks and the Advanced Crypto eBook.
In order to start trading on our platform, you’ll only need to register, create your new account, and deposit some money. You won’t be forced to undergo complex procedures or be entered into contracts unwillingly as some scrupulous brokerage firms and banks do.
Moreover, the registration process is seamless and paperless. Since LTC prices keep fluctuating almost instantaneously, we advise that you utilize the one-click trade feature to ensure you place instant orders.
While you have access to our apps and the entire platform at your disposal, we won’t charge you any additional fees for using these services. You can open several trades securely without spending a lot of money. Unlike most online platforms, you won’t be required to pay some extra charges to access certain third-party features.
The value of Litecoin is tied to the snowballing popularity that blockchain technology has been enjoying in the recent past. LTC has also experienced substantial liquidity and trade volume within the few years it has been in the industry.
Merchants have the potential of gaining faster confirmations on their payments because LTC doesn’t require them to modify future software – its block generation is more frequent.
Mining Litecoins electronically allows miners 50 new Litecoins/block. The amount of Litecoins, however, is halved after reaching a threshold of 840,000 blocks or after every four years. The Litecoin network is set to produce approximately four times the amount of BTC units, which is equivalent to around 84 million Litecoins.
Since it was developed in 2011 by Charlie Lee, a former Google employee, Litecoin has won the hearts of millions of users and investors. In 2013, LTC’s aggregate value increased overwhelmingly, experiencing a 100% leap within 24 hours.
In 2017, the cryptocurrency had another major breakthrough when it became the first digital currency to embrace SegWit, also called a Segregated Witness system. SegWit separates several digital transaction signatures in order to create a block size limit that is more substantial on the blockchain.
While the more lucrative cryptocurrencies such as Ethereum and Bitcoin have made a name for themselves, Dash and Litecoin are big forces to reckon with. In fact, speculative trading has tremendously affected the ROI from Ethereum and Bitcoin.
Still, many leading investors and experienced traders are pondering on which digital coins to consider between Dash and Litecoins. Undoubtedly, Litecoin and Dash have become so popular among seasoned day traders because they have abundant trade volumes and price swings.
Here are some of the differences between Litecoin and Bitcoin:
Unlike other altcoins, LTC is an open-sourced platform that is capable of responding to various market changes efficiently by implementing important software updates on the go. That is why LTC was capable of adopting the SegWit system and Lighting Network Technology. This makes the platform responsive to users than Bitcoin’s technology that has often been faulted for being too hard to mine on an ordinary computer.
Litecoin transactions are relatively faster than those of its godfather, Bitcoin. This means that merchants can execute their transactions within 2.5 minutes, rather than wasting 10 minutes waiting to complete BTC digital transaction. So, trading Litecoins with us will definitely save you some time and money down the road.
Litecoin has an almost zero cost for executing transactions. This makes the digital currency a more affordable option to adopt and work with. So, trading Litecoins with us will make your online venture more profitable than when dealing with other cryptocurrencies.
Litecoin has a more secure network, which makes it a safer system than Bitcoin and other alternatives. Remember, double-spending attacks often occur when hackers detect that the speeds of digital currency are slow. Moreover, Litecoin has a higher limit of 84 million digital coins compared to that of Bitcoins, which is at 21 million digital coins.
It’s critical that you continuously keep monitoring volume graphs and charts to ensure you stay on top of things. Through XTRgate’s Video Chart Analysis feature, you’ll know the historical process of Litecoin and be able to make accurate predictions as you trade. It’s through these charts and graphs that you’ll get a deeper understanding of the dips and peak periods.
The prices of Litecoins are likely to go up during consolidation. You must learn how to identify the risky periods in order to make your entry. For instance, consider making your entry around 10 pm GMT at the beginning of the year when lows risks are expected to be high. Sell your digital coins around 3 am GMT.
Bitcoin is Litecoin’s major competitor. This means that it significantly affects the value of Litecoins. For example, the price of LTC is likely to increase when that of BTC increases.
Patiently wait for the safe entry before you make your move. Don’t rush or get bored when things seem stagnant. You need to keep monitoring the cryptocurrency trading and investigate the best positions as you wait.
Consider spreading your investments and diversifying instead of investing everything in a single cryptocurrency cap. Have a strategic exit plan and avoid being greedy to benefit from Litecoin trading.
Litecoin is believed to have greater growth potential than Bitcoin. Litecoin is yet to achieve the level of fame that Bitcoin has garnered over the past few years. Litecoin’s increasing growth is largely driven by its high speeds, market capitalization, and high coin limits. As far as trading goes, you must be cautious to avoid making substantial losses.
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