Buy Litecoin (LTC)
What is Litecoin?
Litecoin is a decentralised peer-to-peer cryptocurrency and open-source software project that was released under the MIT/X11 license. It was launched in 2011 by Charlie Lee, who intended to create a cryptocurrency that offered faster transaction times and lower fees compared to Bitcoin.
How does Litecoin work?
Litecoin operates on a blockchain network, which records all transactions in a public ledger. It employs a Proof of Work consensus mechanism using the Scrypt hashing algorithm. This makes mining accessible and promotes decentralisation. Litecoin transactions are processed in blocks every 2.5 minutes, significantly faster than Bitcoin's 10-minute block time. Additionally, Litecoin supports smart contracts via the OmniLite platform.
What are the potential use cases for Litecoin?
Litecoin can be used for various applications including digital payments, e-commerce, and retail transactions. It also serves as an investment tool, often used to diversify portfolios. Additionally, Litecoin finds use in decentralised finance (DeFi) applications, donations, cross-border remittances, and integrates with payment processors, enhancing its adoption in the marketplace.
What is the history of Litecoin?
Litecoin was founded by Charlie Lee and was launched in October 2011. It was designed to be a "lite version" of Bitcoin, focused on ensuring faster transactions and greater accessibility for miners. Over the years, Litecoin has grown in transaction volume and market adoption, reaching notable milestones like achieving more than five million long-term holders by 2024. Despite the emergence of forks such as Litecoin Cash, the original Litecoin continues to evolve with features like the OmniLite platform for smart contracts.
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Frequently Asked Questions (FAQs)
What is the current price of Litecoin (LTC)?
The Litecoin price is $163.41 AUD, representing a +9.3% from the day prior.
Where is the best place to buy Litecoin (LTC) in Australia?
The best place to buy Litecoin (LTC) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Litecoin (LTC) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Litecoin (LTC)?
The trading volume of Litecoin (LTC) is $1.8B AUD in the last 24hrs, representing a +9.3% from the day prior.
How can I buy Litecoin (LTC)?
Litecoin (LTC) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Litecoin (LTC)?
The current market cap of Litecoin (LTC) is $12.5B AUD.
Can I convert Litecoin (LTC) to cash?
Yes - With Coinstash you can convert your Litecoin (LTC) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Litecoin (LTC) are there?
The current circulating supply of Litecoin (LTC) is 75.3M.
Is Coinstash a safe place to buy Litecoin (LTC) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Litecoin (LTC) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.