Buying Litecoin: the Best Way
Litecoin is an underrated coin that packs some powerful punch. Like all things Google, it’s full of quite a few surprises. Let’s find out which and, more importantly, where you can buy Litecoin!
“I became interested in Bitcoin and quickly realized that one of its major drawbacks was speed. A new block is added to the Bitcoin blockchain approximately every ten minutes and, thinking of a future where this incredible new technology would be widely adopted, I realized right away that transaction throughput would become a serious scalability problem for the nascent cryptocurrency. I immediately began working on a solution to complement Bitcoin and in only a week, Litecoin was born.” Charlie Lee
What is LTC?
Litecoin (LTC) is a cryptocurrency created in 2011 by Charlie Lee. Charlie worked as an engineer at Google.
It is the second-oldest cryptocurrency after Bitcoin and is widely considered the first successful altcoin. Litecoin was designed to address some of Bitcoin's perceived shortcomings, such as slow transaction processing speeds and mining monopolies.
Merchants like Newegg, SlingTV, and even nonprofits like the American Red Cross accept Litecoin as payment. Investors and traders also rely on its limited supply and issuance reductions to speculate on its price.
Is Litecoin better than other cryptos?
Litecoin is not necessarily better than other cryptocurrencies, but it does have some advantages over Bitcoin. For instance, Litecoin’s transactions are faster.
Litecoin has a larger supply and lower demand than other cryptocurrencies, which means it has a lower exchange rate and less purchasing power. However, each cryptocurrency has its unique features and use cases.
What’s the best way to buy Litecoin?
From what we’ve seen so far, Huobi has consistently been the best in providing security and not asking for dramatic heaps of KYC documents.
Buying LTC at Huobi is pretty straightforward. All you need to do is log in and go to “Buy Crypto” in the top left corner.
Is Huobi an excellent place to hang out for crypto fans?
In terms of consistency, Huobi has so far satisfied, with impeccable service and not one fail, at least in personal experience. This is especially formidable considering the amount of cybercrime out there today, with exchanges like Binance (even) falling like dominoes.
Despite minor rumors of layoffs, which shouldn’t really worry you (probably, ahem), Huobi is a reliable exchange with formidable potential and a good team behind it. It has seen some profits in the last few years, a good share of which were spent on making the exchange better, and that’s a nice gesture. Its functionality has dramatically expanded over the years, making it an even more comfortable experience.
That doesn’t mean your funds are safe or that Huobi won’t fall as FTX did the next day (sadly). But Huobi is still one of the best choices to make for a variety of reasons, one of which is its security and good reputation.
Don’t leave your funds on exchanges for long, DYOR, and don’t drink and trade!