You now have the opportunity to buy Litecoins via PayPal, bank transfer or credit card, on Coinbase or any other site that sells them. All you need to do is create an account on a platform that sells cryptocurrency and start investing a minimum of $200 before buying your first LTC token. Keep your LTC safe and warm in your wallet. There are several types of wallet that you can choose according to your personal habits or preferences. The online wallet or hot storage, or the cold wallet with its physical (paper) version disconnected.
Let’s talk numbers
Litecoin price chart in euros
Litecoin
Litecoin price around €150 (source: Coinbase)
Current Litecoin price
Litecoin is currently worth €149.79 (05/03/2021), a value that is constantly changing. Total supply has reached LTC66.6m out of a maximum supply of LTC84m.
History of the Litecoin price
2011: worth 30 cents.
2013: worth €1, rising to €45 (in mid-November).
2014: starts at €19.37, ends at €1.52.
2015: fairly stable, rises to €8, falls to €3.20.
2016: varies between €2.56 and €5.88.
2017: starts at €3.20, reaches a record €310.
2018: reaches €196.85, falls to €27.79.
2019: starts at €115, falls to €32.
2020: fluctuates between €30 and €50, ending at €106.
Litecoin exchange: what determines the price of Litecoin?
Like all other cryptocurrencies listed on the stock market, the price depends on supply and demand, which are constantly changing. So when demand is strong, and greater than supply, the price explodes. Conversely, when supply exceeds demand, the price of Litecoin falls.
What factors cause the value of Litecoin to fluctuate?
The value and price of major cryptocurrencies such as Bitcoin and Ethereum have a direct impact on the value of Litecoin. The emergence of a new currency and the country’s taxation on capital gains can also swing the trend.
Forecasts and the future of Litecoin
It is currently impossible to define and predict the future of Litecoin with any accuracy. However, on the 10th anniversary of LTC this year, experts are optimistic about the currency’s future.
Everything you need to know about Litecoin
What is Litecoin?
Litecoin (LTC) is one of the many cryptocurrencies on the market today. It is modelled on the giant Bitcoin. Created on 7 October 2011 by computer scientist Charlie Lee, a former Google employee, it is currently ranked 8th in the world.
Litecoin’s characteristics explained
The hash function used is scrypt, which is the most secure, the fastest and the most efficient, offering the best services. This algorithm can be used to hash user file passwords in the event of a computer attack. It can also be used to design cryptographic keys to authenticate or encrypt data. So security is Litecoin’s watchword, much to the delight of its users. There is also the price of the transaction between the seller and the buyer of the cryptocurrency. Litecoin is made available on the international exchange network with a very low transaction cost, almost zero. One of the other great features of Litecoin is the speed of transactions. In a world where demand is increasingly strong and demanding, Litecoin offers the creation of a block in 2 min 30 sec maximum. Bitcoin does this in 4 times as long, i.e. 10 minutes.
How does Litecoin work?
In principle, Litecoin works like any other cryptocurrency. All that is required is that the parties involved in a transaction for goods or services both use LTC. In this way, subject A’s litecoins are transferred from his wallet to that of subject B. Note: 1 litecoin is divided into one hundred million smaller units, i.e. eight decimal places.
The Litecoin blockchain explained
It all starts with a transaction request, followed by the creation of a block (a collection of multitudes of transactions waiting to be processed). When a valid block is created, it is known as mining. Once created, this block is grouped with other blocks to form the blockchain. Mining is therefore an essential part of using your LTCs. Each transaction request from a user must be verified, so the transaction is put on hold and stored in a pool. All these elements make up the blockchain.
What is Litecoin used for?
Litecoin can be used occasionally or daily for any type of transaction. Litecoin is perfectly suited to small purchases, so small users will be delighted.
What can I buy with Litecoins?
One of the many things you can do with your LTC tokens is transfer money. For a small fee and almost instantly, you can send money to friends and family, provided they also have this electronic currency.
You can also make online purchases at the click of a button, just as you would with your bank card, on multiple e-commerce platforms.
Litecoin has the advantage of being a common global currency. It can be used to convert currency from any bank in the world at any value. What’s more, conversion using a cryptocurrency is quicker and less costly.
Why use Litecoins?
Litecoin is a much cheaper alternative to using fiat money, thanks to low transaction costs and no bank charges. Although everything is computerised and electronic, you don’t have to worry about the security of your personal data or the storage of your LTCs.
Our opinion on Litecoin: is it too late to invest?
One thing is certain: Litecoin is a secure, very useful and promising currency. So it’s never too late to invest in LTC! This currency has been on the market long enough and has proved its worth. And even though any stock market transaction is subject to risk, investing in Litecoin today could be very profitable, even if you start with a small amount.
