Litecoin is a cryptocurrency, an open-source digital currency. Created in October 2011 by Charles Lee, a former Google employee, we can say that it was created as an alternative to Bitcoin. Peer-to-peer digital currency that enables payments with almost zero costs, anywhere in the world.
Like other cryptocurrencies, due to their decentralized nature, it does not depend on central issuing bodies, governments, and authorities, which makes manipulation impossible.
The main features of Litecoin are as follows: it uses blockchain technology, but it is almost 4x faster than Bitcoin (also in confirmation time), its proof-of-work system uses the Srycpt algorithm, it has an extremely long life, operates at low global costs and is secure. It has activated SegWit and Lightning Network on its network with 100% support, which effectively ensures a larger number of transactions on the network in a given time.
Litecoin is one of the most popular cryptocurrencies, relatively easy to buy, at least when compared to other altcoins. Bitstamp is the place where you can get Litecoin more simply with a EUR transfer or credit card top-up. It is also possible to set a sliding stop loss.
The number of Litecoin wallets available is relatively limited. Since there isn't a very strong demand for Litecoin wallets, there aren't many of them. Perhaps the wallet that offers the best bundle is Electrum LTC. It can be used on Mac, PC, or virtually any device.
The most secure hardware wallets are, for example, Ledger Nano S or Trezor. Both devices support Litecoin and store coins offline, away from hackers. Both devices are compatible with Electrum LTC.
It is very similar to Bitcoin, and it is no coincidence that parallels are constantly drawn between the two currencies.
Litecoin can be mined with video cards or with specially designed machines.