Cryptocurrency

Buy Litecoin (LTC) on CoinDCX | How to invest in Litecoin

The Cryptocurrency litecoin was founded in 2011. It is the ninth-largest cryptocurrency y market capitalization. The founder of the cryptocurrency, litecoin, was a former Google engineer who called it the ‘lite’ version of bitcoin. The circulating supply of litecoin has been capped at 84 million. This cryptocurrency is abbreviated as LTC.

A new block ledger of recent litecoin transactions is generated by the litecoin network every 2.5 minutes. Anyone can buy litecoin through decentralized exchanges present across the globe. The litecoin network has incentives for its miners. The first miner who successfully verifies a block is rewarded with 12.5 litecoins. 

The cryptographic algorithms are different for litecoin as well as bitcoin. There are a few inherent advantages of litecoin over bitcoin. This is another reason why crypto enthusiasts and investors are so inclined to buy litecoin. 

Basics of Litecoin

The current price of Litecoin as of  October 2021 is $173.09. The total market capitalization of  litecoin(LTC)  stands at $11,877,086,694. The circulating supply of this coin is 68,681,420.50 LTC. This cryptocurrency reached its all-time high of $412.96 as of 10th May 2021. LTC saw its all-time low value in 2015 at $1.11. The ROI of this cryptocurrency gives investors a good enough reason to buy litecoin. 

Why buy Litecoin

Although Litecoin was designed on similar blockchain technology as bitcoin, however, this cryptocurrency focuses on faster and more scalable transactions. You can buy and sell litecoins (LTC) on the major crypto exchanges of India. 

Litecoin (LTC) offers faster transactions at lower fees. Litecoin is also lighter and faster than Bitcoin. 

3 reasons to buy litecoin (LTC)

  1. It is a better blockchain: Litecoin offers both speed and security. The SegWit operated on the litecoin blockchain in 2017 allows the Litecoin network to process lightning-fast payments. 
  2. More coins than Bitcoins: LTC will eventually outnumber BTC in the market. This is great for those consumers, investors, and enthusiasts looking for effective and simple digital currency. 
  3. Simpler algorithm: The code used by both LTC and BTC network are different while that of litecoin is simpler. The scrypt-hashing algorithm of litecoin makes mining easier and simpler. Experts believe that this simple mining process of litecoin has the potential to steal away miners from the BTC network. This is another reason why investors are willing to buy Litecoin. 

3 Random facts about Litecoin 

-Litecoin is born from the same node like Bitcoin.

-Litecoin has a swap buddy: Verticoin.

-Litecoin has a total supply of 84 million!


Litecoin price trends

Price/Year  2015 2017 2019 2021
Litecoin (year closing)  $3.62 $355.50 $39.65 $173.07
Litecoin (ATH) $5.42 $355.50 $136.85 $412.26 
Litecoin (ATL)  $1.11 $3.81 $30.33 $126

 

How to buy Litecoin on CoinDCX

The three-step process to buy litecoin (LTC) on CoinDCX 

  1. Sign up to CoinDCX 

The very first step to buying litecoin on CoinDCX is to signup with a valid email id to the platform. Make sure that the password used is strong for security purposes.

  1. KYC Verification

CoinDCX is very particular about the authenticity and credibility of its users. After signing up, the users need to submit the required documents for KYC verification. It hardly takes 15 minutes for the completion of this process. 

  1. Buy Litecoin 

Once all the documents have been verified, the users are required to submit a certain sum of fiat currency. The same amount of litecoin is credited to your CoinDCX account. This is the simplest and easiest way to buy Litecoin.

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