.png)
Buy & Sell Litecoin LTC Securely with Australian Dollar AUD on Elbaite - Trade Your Way Today
Litecoin (LTC) is a peer-to-peer cryptocurrency designed to provide fast, low-cost transactions with high scalability. Often referred to as the "silver to Bitcoin's gold," Litecoin was created to improve upon Bitcoin's transaction speed and efficiency while maintaining its decentralized nature. Powered by a modified version of Bitcoin’s blockchain, Litecoin is widely used for everyday payments and is recognized for its secure, energy-efficient network.
Litecoin was launched in 2011 by Charlie Lee, a former Google engineer, as one of the earliest altcoins in the cryptocurrency space. Built on Bitcoin's core technology with notable enhancements like faster block generation and a different hashing algorithm (Scrypt), Litecoin quickly gained popularity for its usability and accessibility. Over the years, Litecoin has remained a steadfast presence in the cryptocurrency ecosystem, continually adapting to the evolving needs of its users.
What is Litecoin (LTC)?
Litecoin is a decentralized cryptocurrency designed to provide fast, low-cost payments and is often referred to as "digital silver" due to its similarities to Bitcoin.
How do I buy Litecoin on Elbaite?
You can buy Litecoin on Elbaite by signing up for an account, verifying your identity, depositing AUD, and placing a buy order for LTC.
Why is Litecoin faster than Bitcoin?
Litecoin was designed with a shorter block time of 2.5 minutes compared to Bitcoin’s 10 minutes, allowing for quicker transaction confirmations.
What are Litecoin’s main use cases?
Litecoin is ideal for peer-to-peer transactions, online payments, and as a faster and more cost-effective alternative to Bitcoin for everyday use.
Is Litecoin secure?
Litecoin leverages blockchain technology and cryptographic algorithms to ensure secure and transparent transactions across its decentralized network.
Does Litecoin have a supply limit?
Yes, Litecoin has a capped supply of 84 million coins, making it a deflationary asset similar to Bitcoin.