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Posted byLitecoin Educator2 months ago
Stickied post

New Flair Rule

We've been overwhelmed with newcomer posts. In light of this, we created a bot that will PM people without flairs various pertinent information to read through when they post. In order to stop receiving these, simply add a flair to your name. Thanks!

Welcome to /r/Litecoin!

(Re-post of u/Sparkswont cuz it was archived)

Whether you're new to cryptocurrency and have no clue what a 'litecoin' is, or a seasoned investor in cryptocurrencies, the resources below will answer all your questions. If you still have questions, feel free to ask below in the comments!

 

What is Litecoin?

Litecoin (LTC or Ł) is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Litecoin is one of the largest, oldest, and most used cryptocurrencies in the world. Similar to Bitcoin, Litecoin uses blockchain technology to process transactions.

So what's the difference? To process a block, Litecoin takes 2.5 minutes rather than Bitcoins 10 minutes. This allows for faster processing times. Litecoin also has the capability to produce a total of 84 million units, compared to Bitcoins 21 million. In addition, Litecoin uses scrypt in its proof-of-work algorithm, a sequential memory-hard function requiring asymptotically more memory than an algorithm which is not memory-hard.

Still confused? Take a look at this video!

 

Where can I buy Litecoin?

There are many websites and applications where you can buy and sell Litecoin, but make sure the exchange you are using is trusted and secure. Here are some exchanges that are trusted in the cryptocurrency community:

Exchange
Coinbase USD/Euro/GBP
Quadrigacx CAD
Bithump KRW
OKCoin Euro/Yen/USD
OKex CNY
Btcmarkets.net AUD
Bitso MXN
Zebpay INR

 

Where can I securely store Litecoin?

Litecoin (and other cryptocurrencies) is stored in a digital wallet. When storing Litecoin, you want to make sure you trust the place you store them. This is why it is best to store them yourself through the electrum wallet. It is highly suggested to not store your Litecoin in an exchange (such as Coinbase, Poloniex, Bittrex, etc.) because you don't control the private keys. If the exchange ever goes offline, or becomes insolvent, your Litecoin essentially disappear.

Some other options are:

Wallet
Electrum Lightweight Wallet
Official Core Wallet
LiteVault Secure Web Wallet
Paper Wallet Instructions

 

If you're a fan of mobile devices, then Loafwallet is the wallet for you. Developed by a Litecoin Foundation Dev, /u/losh11, this mobile wallet works great! And remember to always make sure to write down your seedkeys.

 

Hardware wallets are another great option, in fact, they are said to be the most secure way to store cryptocurrencies. Below is a list of the litecoin flexible hardware wallets.

Wallet
Ledger
Trezor
Keepkey

 

Where can I spend Litecoin?

Litecoin is in the top ten of all cryptocurrencies by market capitalization. Websites are rapidly adopting Litecoin as a method of payment as well. If you yourself want to accept LTC as a business, you can refer to these merchant manuals. Alternatively, if you would like to explore websites that accept Litecoin, head over to /r/AcceptingLTC.

Here are also several of our favorite merchants accepting Litecoin.

 

Where can I discuss Litecoin?

The Litecoin community is extremely kind and robust. There are many forums and places where you can discuss Litecoin with others who are interested in the currency. Here are the main ones:

Platform
Reddit
Litecoin Markets Subreddit
Discord
Official Forum
IRC

 

Additional Resources and Help

If you have more questions, or are genuinely interested in learning more about Litecoin then be sure to read this series. If you have a specific question that you can't seem to find the answer too, ask below and someone will help you out!

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Introducing YouTube Music. Discover full albums, popular covers, videos, and live shows in one re-imagined app. Open the world of music. It's all here.

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Posted byNew User1 day ago

Hello all,

So I tried sending LTC from my electrum LTC wallet to my Bitpanda wallet and it said the address was invalid.

I then decided to send it through Bittrex, thought maybe that would help and it didn’t, it said the address was invalid.

So I contacted support and got a pre formulated response of - LTC supposedly having a new form of address starting with M instead of 3. Mine from Bitpanda already had a M so I thought why would this be an issue.

Do I have to convert it back to an address with 3? Super confused as to what to do/what the problem actually is.

If anyone can help it would be much appreciated.

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Posted byNew User2 days ago
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Google Home Mini + Smart 💡 bundle. It's smart home-ing made easier. Get Google Home Mini & GE smart light bulb together for just $55.

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Posted byNew User2 days ago

It's supposed to be used as a currency right? Why would anyone want currency that fluctuates everyday?

I want a discussion! Please educate me.

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Posted byNew User2 days ago
  • Bitcoin as a digital store of value
  • Ethereum as a means to raise funds
  • Litecoin as a P2P medium of exchange that is cheap and fast
  • Tokenization of traditional assets

https://www.theblockcrypto.com/2018/11/19/kpmg-report-cryptoassets-are-now-impossible-to-ignore-but-there-are-still-challenges-facing-institutionalization/

KPMG is a global network of independent member firms offering audit, tax and advisory services.

https://assets.kpmg.com/content/dam/kpmg/us/pdf/2018/11/institutionalization-cryptoassets.pdf

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Posted byNew User2 days ago

Hey guys , some advice please, is this legit? or is it a beartrap? How can someone offer a return of 30% in 9hours when the market is crashing like this? With a wallet that mines cryptocurrencies while you sleep!! :) lol Generally when something is too good to be true . . . it usually is?

https://i.redd.it/463uvpbn6bz11.jpg

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https://i.redd.it/3m5hrgew98z11.png

We are proud to have another quality medal, Litecoin, for everyone. 
Litecoin is the # 7coinmarketcap.com.

First come first trading. You can follow any responses to this entry through the RSS 2.0 feed.

Register for LTC trading here> https://www.bitkub.com/signup
Login and Trafficking LTC here> https://www.bitkub.com/login

Time: 11/19/2018, 10:00 AM GMT + 7

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Posted byNew User2 days ago

Can the LTC Foundation spare a few million for a LTC commercial during the most watched sporting event of the year? I am picturing a Chikun taking selfies with you and CBDoctor.

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Hey Reddit: What's the value of x? Take Triplebyte's coding quiz.

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Posted byNew User3 days ago

At first i was skeptical because I’am in the Los Angeles area and things like this turn people away or off. They instantly think the business might be a scam or fake.

But I thought F it. That is the whole point of having my own business. So I make the decisions and so far no clients have asked me if i can do their project and accept BTC/LTC but maybe some day. So much for adoption by the masses. But one can only stay hopeful.

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Posted byGo Vap Orphanage Supporter3 days ago

He creates something that goes from 0$ to $375.29 USD, he then tell you crypto is in a huge bubble and could enter a multi year bear market and that he sold near the all time high.

If the creator of something sells therefore you should too because he has a better understanding of what's going on since he's been in since day 1.

Had you listen to Charlie Lee at any point in time you would have made money (I did). How could you hate a guy who made you money?

Therefore everyone hating on Charlie hasn't made any profit on Litecoin or else you wouldn't hate him, you would love him.

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For discussion about Litecoin, the leading cryptocurrency derived from Bitcoin. Litecoin is developed with a focus on speed, efficiency, and wider initial coin distribution through the use of scrypt-based mining.

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