Litecoin (LTC): Compare Staking Rewards, Markets & Insights

Boost your Profits with Litecoin (LTC): Compare the best staking rewards, and learn more about your favorite cryptocurrency, and how to earn passive income by holding your tokens.

What is Litecoin (LTC)?

Litecoin is a peer-to-peer cryptocurrency created by Charlie Lee. It was created based on the Bitcoin protocol but differs in terms of the hashing algorithm used. Litecoin uses the memory intensive Scrypt proof of work mining algorithm. Scrypt allows consumer-grade hardware such as GPU to mine those coins.

Why Litecoin?

Litecoin is a cryptocurrency that has evolved from Bitcoin after its own popularity in the industry, this alternative, or ‘altcoin’ has emerged to allow investors to diversify their digital currency package, according to Investopedia. Litecoin is one of the most prominent altcoins and was created by former Google employee and Director of Engineering at Coinbase, Charlie Lee. Litecoin was the first to alter Bitcoin and the most significant difference is that it takes 2.5 minutes for Litecoin to generate a block, or transaction, in comparison to Bitcoin's 10 minutes.

‘While this matters little to traders, miners who use hardware to run Bitcoin's network cannot switch over to Litecoin. This keeps bigger mining conglomerates away from Litecoin because they cannot easily optimize their profits by swapping to another coin, contributing to a more decentralized experience. Litecoin also has bigger blocks, and more coins in circulation, making it more affordable and swift when transacting,’ Investopedia explained.

As explained above, Litecoin can transact a lot faster than Bitcoin, but there are also a number of other characteristics that investors need to know before trading. Litecoin can handle higher volumes of transactions because of the capability of transacting faster and if Bitcoin attempted to transact on the scale of its altcoin, a code update would be needed. However, Litecoin’s blocks would be larger, but with more ‘orphaned blocks'. The faster block time of litecoin reduces the risk of double spending attacks - this is theoretical in the case of both networks having the same hashing power.

Litecoin Technical Details

The transaction confirmation time taken for Litecoin is about 2.5 minutes on average (as compared to Bitcoin's 10 minutes). The Litecoin network is scheduled to cap at 84 million currency units.

Litecoin has inspired many other popular alternative currencies (eg. Dogecoin) because of its Scrypt hashing algorithm in order to prevent ASIC miners from mining those coins. However it is said that by the end of this year, Scrypt ASIC will enter the mass market.

What is the Performance of Litecoin (LTC)?

Where to Earn High Staking Rewards With Litecoin (LTC)?

We have extensively scanned 39 exchanges and DeFi protocols to identify the most lucrative staking opportunities for LTC. If you are wondering where to stake your LTC tokens for maximum returns, interest, and benefits, look no further! Explore the various staking platform options, benefits, and strategies available. Here are the offers with the highest Annual Percentage Yield (APY), ensuring optimal rewards for your investment and maximizing your interest earnings.

Platform	Network	Type	Duration (Days)	Est. Total APR	Limitation
Platform: Huobi		Type: Staking	Duration (Days): 7	Est. Total APR: 100.00 %
Platform: BitForex		Type: Staking	Duration (Days): 180	Est. Total APR: 4.50 %	Limitation: 0.01
Platform: BitForex		Type: Staking	Duration (Days): 60	Est. Total APR: 4.00 %	Limitation: 0.01
Platform: BitForex		Type: Staking	Duration (Days): 30	Est. Total APR: 3.50 %	Limitation: 0.01
Platform: BitForex		Type: Staking	Duration (Days): 180	Est. Total APR: 3.50 %	Limitation: 0.01

Where to Buy Litecoin (LTC)?

Litecoin (LTC) is traded on 67 crypto exchanges. Here are the top 10 markets with the highest volume for seamless trading and investment opportunities.