Know more about Litecoin

Litecoin was first introduced by Charles Lee, a former employee of Google. Its stated purpose was to improve on other proof-of-work currencies through a few small but potent tweaks. Litecoin has fared decently since its inception, maintaining a significant portion of its value while remaining accessible to first-time investors. Because of its age and reputation, Litecoin is accepted by many independent businesses in a variety of categories including electronics, gaming, advertising, hosting and apparel. Still, because its innovations are minor and it lacks first-mover advantage, widespread acceptance has been slow.
One of Litecoin's main innovations is the increased rate at which information is added to its ledger. With a new block of transactions verified and posted roughly every two minutes, Litecoin transactions can be processed more quickly. This faster block generation rate also theoretically makes Litecoin's network more resistant to a 51 percent attack because the attackers would have to be able to dominate so many more verifications, but whether this is true remains to be seen. The unintended side effects of this feature are a much larger and more unwieldy stack of transactions to sift through and potentially increased energy consumption.
Another advantage of Litecoin is its large pool of available coins. Around 84 million Litecoins are scheduled to be created over the currency's lifetime, which in theory should allow it to strike a happy medium between too much available currency (devaluing individual coins) and too little available currency (which might make individual coins prohibitively expensive). How this strategy will play out in the long-run remains to be seen, but Litecoin's recent value of approximately a dollar per coin speaks well for the future.
Litecoin was also the first cryptocurrency to implement the Scrypt algorithm for its proof-of-work scheme in the hopes of breaking the dominance of specialized hardware over mining rewards. Scrypt ultimately proved unsuccessful at eliminating specialized hardware – the hardware simply got better – but Scrypt-based currencies still offer the advantage of potentially allowing merged mining with other such currencies, increasing the potential dividends and computational efficiency of mining them. Litecoin's respectable market capitalization is also a big draw as it has consistently been the third highest valued cryptocurrency on the market and shows no sign of dropping.
Overall, Litecoin is a stable and well-designed currency, but it lacks some of the flashier innovations that have characterized newer cryptocurrencies. It is a low-risk investment, and its core design principles are economically sound, but it is still too early to tell whether it will become a dominant alternative currency.
Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world.
Litecoin is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances.
Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency.

The Litecoin blockchain is capable of handling higher transaction volume than its counterpart - Bitcoin. Due to more frequent block generation, the network supports more transactions without a need to modify the software in the future. As a result, merchants get faster confirmation times, while still having ability to wait for more confirmations when selling bigger ticket items.
Miners are currently awarded with 50 new litecoins per block, an amount which gets halved roughly every 4 years (every 840,000 blocks). The Litecoin network is therefore scheduled to produce 84 million litecoins, which is 4 times as many currency units as Bitcoin.
Wallet encryption allows you to secure your wallet, so that you can view transactions and your account balance, but are required to enter your password before spending litecoins. This provides protection from wallet-stealing viruses and trojans as well as a sanity check before sending payments.
Litecoin is an open source software project released under the MIT/X11 license which gives you the power to run, modify, and copy the software and to distribute, at your option, modified copies of the software. The software is released in a transparent process that allows for independent verification of binaries and their corresponding source code.

Bitcoin or Litecoin? Which one should I use?

Both have valid uses both as a payment form and as a speculative asset. Bitcoin is the most valuable and most widely used cryptocurrency. If you are looking to make smaller payments using a digital currency or are looking for the fastest possible transaction times
and your destination also accepts Litecoin/LTC, then Litecoin will likely be the best choice for your payment. You can purchase it directly from our ATMs with cash; the process is nearly the same as buying bitcoin. Just remember that Litecoin addresses begin with "L" and you will need a valid address to receive litecoin.

How to Invest

It is clear that Litecoin is going to be a powerful digital currency. Of course, it’s too early in the game to speculate on who will win the digital currency race.
In fact, there could be no winner. The future financial system could operate using dozens of digital currencies. And Litecoin is likely to be one of them.
Its days of riding on Bitcoin’s coattails are nearly over. The jump is coming.
We have already started to see this in the digital currency’s dramatic jumps this past month.
This means if you intend to buy Litecoin under $50 dollars, it is time to buy.
Luckily for investors, Litecoin is a fairly easy digital currency to purchase. Its popularity and appeal earned it a position on Coinbase, which remains the top digital currency exchange for novice investors.
The simplest way to buy is to go in and create an account. Once you have set up a username and password, you can plug in your banking information.

You can buy digital currency on Coinbase with a credit card, a bank account, or PayPal. This gives you complete freedom when it comes to purchasing the currency.