Below is a glossary of terms that are used in the online trading industry. Select the first letter of the word you are seeking from the list above to jump to the appropriate section of the glossary.
What is Litecoin?
Litecoin is the world’s second largest cryptocurrency and digital payment system, after Bitcoin. It operates using blockchain technology, which is a public ledger recording all transactions. While Litecoin is completely unregulated, which might give some investors pause, it has also proven to be extremely secure, as no hackers have succeeded in compromising the blockchain technology.
How does one use Litecoin?
Using a hashing algorithm, “miners” can discover Litecoins, and while there is a limited number of Litecoins that will ever be mineable, that limit is 84 million, or four times the number of Bitcoins. The Litecoins already on the market and in circulation can be traded like any other asset, and many forex brokers – including Fortrade.com – do enable traders to trade Litecoin CFDs on their platforms.
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