Litecoin is a cryptocurrency popularly known by its abbreviation LTC. LTC is a peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license. Starting off in October 2011, Litecoin was an early bitcoin spinoff or altcoin. One could conclude that in technical details, Litecoin is nearly identical to Bitcoin (BTC).
Talking a little about the history of LTC, it was released via an open-source client on GitHub on the 7th of October 2011 by Charlie Lee. Charlie Lee is known as a google employee who later became Engineering Director at Coinbase. Generally known, the Litecoin network went live on the 13th of October 2011.
Information from Coinmarkercap says that Litecoin is a cryptocurrency that was designed to provide a fast, secure, and low-cost payment system by leveraging the unique properties of blockchain technology. Note that this cryptocurrency was created based on the Bitcoin protocol however, it differs in terms of the hashing algorithm used, blockchain transaction time, hard cap, and a few other factors.
Where and How can I Buy Litecoin?
Below is how you can buy LTC using Trust Wallet.
- Open a binance
- Now download Trust wallet.
- Head back to the binance website and buy binance to your software wallet.
- Go back to Trust wallet and confirm that you’ve received the binance coin.
- Once confirmed, add the LTC token to your portfolio. To do this, tap on the file like icon at the top right side of the page and search for Bitcoin cash using the search bar. To add it to your wallet, simply toggle it on.
- Now, head over to the DApps section on Trust wallet and search for pancake swap
- Open pancake swap and connect your wallet.
- You should now see the amount of binance you have on the first field of the exchange form. At the bottom, tap on the “Select a currency” dropdown.
- Paste the contract address “0x4338665cbb7b2485a8855a139b75d5e34ab0db94” into the search bar and tap on the “LTC” token.
- Import the token and type the amount you wish to buy.
- Tap on the “Swap” button and enter your password if prompted.
- Now go back to your wallet and confirm the purchase.
There you have it. It’s as easy as that. Once you have LTC in your account, you can send it to whoever you desire.