Litecoin (LTC) - All you need to know

Find out how to get started with Litecoin. This page is a Litecoin hub; it outlines the many methods you can use to gain exposure to the coin and provides links to helpful guides and information.
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Updated: Sep 12, 2022

Ways to invest in Litecoin

The first thing you need to do is sign up to either a broker or cryptocurrency exchange. While these services function in different ways, they both allow you to buy, sell and trade cryptocurrencies like Litecoin, though there are pros and cons to each service.

The options don’t end here. There are various other ways to get involved, such as a mutual fund, a trust, or even a crypto debit card. On this page, we explore the top methods and provide links to bolster your knowledge. 

What is Litecoin?

Litecoin is a cryptocurrency just like Bitcoin. It styles itself as ‘the silver to Bitcoin’s gold’ and is essentially the little brother to its more famous sibling: younger, similar, and not as prized. That’s not to say Litecoin has no value at all, though, and it’s one of the leading cryptocurrencies by market cap and has long been one of the most famous coins around.

Formed all the way back in 2011, Litecoin was created by Charlie Lee, who is an alumni of Google and Coinbase and still runs the show. It was created out of a fork from Bitcoin: where a fork comes from copying the original code and then altering it to create something new.

Despite being so similar, it improves on the original Bitcoin in a number of ways. The most notable are faster transaction speeds and new, innovative features that see it act like a test centre for ideas that could improve Bitcoin itself.

How does Litecoin work?

Litecoin works by using a blockchain, or public ledger, in place of a bank. Every time a transaction is made, it’s added as the next block on the blockchain, which then cannot be changed. This creates an irrefutable proof of ownership for every coin so that it’s impossible to spend money you don’t have.

Generally, this is the same process as Bitcoin. The differences between them are minor and technical, things like the fact Litecoin can perform more transactions per second (56 to Bitcoin’s 7) and there is a greater total supply of coins (84 million to 21).

The other main difference is that Litecoin tends to be more open to development. This has led to new features like a ‘lightning network’, allowing for near-instant transactions, that may ultimately improve Bitcoin as well.

How to invest in Litecoin

There are plenty of ways you can gain exposure to the market performance of Litecoin. Gain an understanding of each of them by reading the list below, and click on any of the links to find out more. 

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Sources & references
Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Charlie Hancox
Financial Writer
Alongside his passion for trading, Charlie has represented Great Britain and won national championships as a water polo player, and as a budding film director, has… read more.