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What is Litecoin (LTC) cryptocurrency

Litecoin is a worldwide payment network, an online cryptocurrency that ranks third in terms of market capitalization after Bitcoin and Ripple. Currency is traded on many digital exchanges and wallets and has a higher coin turnover than Bitcoin.

Short story 

The cryptocurrency Litecoin appeared in October 2011. The actual developer and founder of this cryptocurrency is Charlie Lee. He took as a basis the idea of a decentralized Bitcoin network, slightly changed the mining process, the protocol, as well as the source code of the network itself. The idea was to create a faster, easier version for using cryptocurrency, because bitcoin was slow and had expensive transactions. Coin transactions are cheap and tend to almost zero. They are not completely free, but much cheaper than Bitcoin, so far, after many years. Litecoin does not pretend to oust Bitcoin from the market. Charlie Lee created this cryptocurrency as some cryptocurrency silver. If bitcoin can be considered as gold, then lightcoin is positioned as silver.

Where can I store Litecoin? 

Crypto-wallets have some abundance of options. The main division into hot and cold is mainly due to the level of security. In addition, they are divided into:

hardware - wallets in the form of USB flash drives with built-in protection modules;

mobile - convenient and simple clients on a smartphone for quick transfers;

desktop - a client for the computer, greatly simplifying the work with crypto;

paper - the coldest storage of cryptocurrency;

online - specialized crypto storage sites.

     Paper storage, if you can call it that, for LTC is a bit of a document that just needs to be printed on A4. It contains public and private keys, as well as QR codes for them. You will use the first key to receive funds, and the second to withdraw. To create such a wallet, you need to generate a wallet address and print it.

     When it comes to quick access to your funds, we think about customers for smartphones. After all, the modern way of life dictates such rules that people practically do not release the phone from their hands. The following wallets can be noted: Loaf Wallet, Coinomi, Jaxx
     How to store LTC on a computer:

If you are a frequent computer user, then it is better to use a desktop version of the wallet than a mobile one. Of course, you can’t carry it in your pocket, but it has advanced functionality and better protection, such as Litecoin Core, Electrum, Exodus

     Litecoin is at the top, because almost every site has an address for it. If you often trade with Litecoin, you can immediately drop it on your exchange. Whether it’s Poloniex or Bittrex, or another platform - they all allow you to store and trade LTC, since this cryptocurrency is in great demand.

How to mine

Today, there are three key ways to mine Litecoin. Each of them requires different financial and time costs, respectively, and the profit for each method will be different. Mining profitability depends on the current equipment capacity, mining complexity and cost. Wallets for storing coins have been created, a preliminary strategy for their implementation has been thought out, we proceed to actions.

Lightcoin mining by ASICs
Lightcoin mining with video cards
Cloud mining

Right now you can make an exchange on our Baksman website in any of the provided destinations. The service works around the clock and seven days a week. Exchange takes an average of 5-10 minutes. For any questions, you can contact the round-the-clock online support on our website!