77% of retail investor accounts lose money when trading CFDs with this provider.
77% of retail investor accounts lose money when trading CFDs with this provider.
TRADING LITECOIN
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Litecoin – Faster Transactions and A Lot More Coins

With the advent of cryptocurrencies in 2009, the stage was set for the world to move towards a cashless reality. Obviously, with so many third-world countries having poor – if any – internet access, this dream is still a far way off, but the framework has been set. Bitcoin was the first of these virtual currencies, but for all the ground that was broken with its innovation, there were, of course, some shortcomings which subsequent cryptocurrencies sought to improve upon.

Just two years after Bitcoin was launched, the second digital currency, Litecoin, made its appearance. The primary improvements that Litecoin offers over Bitcoin are a faster block generation rate and (eventually) more coins available on the market.

Over the course of 2017, the price of Litecoin has gone from 3.87 at the beginning of the year to as high as $92 at the beginning of September, before slipping back to the mid-50s range. As of this writing, LTC/USD is $56.60.

What are the primary differences between Litecoin and Bitcoin?

Litecoin, like Bitcoin, is a peer-to-peer (P2P) virtual currency that is not under the control of a central authority. In fact, Litecoin was developed based on the model of Bitcoin, and the two have more in common than there are differences. But the differences are very significant.

The first primary difference is the speed in which transactions can be confirmed. A Bitcoin transaction can take up to approximately 10 minutes, whereas that of Litecoin is about one-quarter that.

While both Bitcoin and Litecoin have preset limits as to how many virtual coins will be produced, Litecoin’s target of 84 million is four times that of Bitcoin, which means that the supply will be able to meet the demand for a much longer time.

Finally, the algorithms employed by Litecoin for its proof of work are less complex than those of Bitcoin, and more accessible to users with less powerful computers. This enables more miners to add blocks to the blockchain, thus earning Litecoins in the process

How does one trade Dash?

Similar to Bitcoin, Litecoins are “mined” by users, who must solve complex mathematical puzzles. In doing so, they earn the right to add blocks to the blockchain, and receive a set amount of Litecoins as a reward. As mentioned above, Litecoin uses algorithms to prove that they have accomplished the work which are more accessible to a greater number of miners. Considering that there will be so many more Litecoins in circulation than of Bitcoins, this accessibility is particularly significant.

 

Like other cryptocurrencies, traders can trade on the rates of Litecoins on forex markets. When a trader opens a valid account with a broker, such as Fortrade.com, they can begin trading Litecoin CFDs. It is not necessary to own actual Litecoins in order to trade CFDs, and with the right Short position, traders can even earn a profit when the price of the currency drops. Click on the link below to open a Fortrade account, and start trading today.

Please note: Trading CFDs carries a high level of risk. Your capital is at risk.
For general information only. Not intended to provide investment or trading advice.
Risk Warning and Disclaimer
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk. The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Be aware, as a retail client you can lose all, but not more than the balance of your trading account due to Fortrade’s negative balance protection. The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
CFDs and margin FX are leveraged products that carry a high level of risk to your capital. You should only trade with money you can afford to lose. Be Aware: You can lose all, but not more than the balance of your Trading Account. You do not own, or have any rights to, the underlying assets. Past performance is no guarantee of future performance. This information is intended to be general in nature and is not financial product advice. Any advice contained on this website or provided to you by Fort Securities Australia Pty Ltd is general advice only and has been prepared without considering your objectives, financial situation or needs. Before acting on any information, you should consider the appropriateness of the information provided and the nature of the relevant financial product having regard to your objectives, financial situation and needs. We encourage you to obtain independent financial advice and consider our Financial Services Guide (FSG), Product Disclosure Statement (PDS) and Target Market Determination (TMD) to determine if this product is suitable for you before deciding to enter into or obtain any financial products issued by us. The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Canadian Investment Regulatory Organization (CIRO) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.
CFDs are complex and highly speculative instruments, which come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing all your invested capital. Be Aware: You can lose all, but not more than the balance of your Trading Account.
77% of retail investor accounts lose money when trading CFDs with this provider. These products may not be suitable for all clients, therefore ensure, that you understand the risks and seek independent advice.

Should you proceed with investment in CFDs on virtual currencies, please note, that the values are highly volatile and may result in a significant loss for a short period of time.

This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

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