The most talked about topic these days is cryptocurrency. With companies like Tesla, Apple entering the crypto world has gifted digital currency a bull run and much-needed limelight. But people believe that bitcoin is the synonym for cryptocurrency, that’s not the case now. Bitcoin is still the oldest and largest cryptocurrency but today it has a few competitors as well. Ethereum is the closest competitor of bitcoin although is still far behind bitcoins in the market capitalization and price. But if we check the year-to-price basic then Ethereum has left behind bitcoins.
And not only Ethereum, there are many other cryptocurrencies that are also growing. Including Litecoin, XRP, Polkadot, etc.
Litecoin was developed in 2011 by the former Google employee Charlie Lee. It is completely based on bitcoin with just a few changes which make it even better and faster.
Differences from bitcoin are: litecoin’s network takes around 2.5 minutes to process a block whereas bitcoin’s network takes around 10 minutes. Which automatically makes litecoin transactions faster than bitcoin.
Litecoins uses a different algorithm from bitcoin.
Litecoin is referred to as digital silver while bitcoin is referred to as digital gold.
It is almost the same as bitcoin just a little bit different.
Buy Litecoin in India
The Crypto industry is gaining popularity in India these days, many new investors are taking interest in this world. Buying litecoin in India is not a big problem. Just like buying and selling other cryptocurrencies litecoin is also traded in many exchanges in the country.
I will give a step-by-step guide to buy litecoin in India.
1. Search an exchange that support’s litecoin and create an account.
2. You have to create a digital wallet which is a place where you will hold your cryptocurrencies.
3. Then create an account by providing your email id and sign up.
4. Then you have to select the type of account, either individual or corporate. Then accept their terms and conditions.
5. Indian government has a rule of mandatory filing of KYC. KYC should be filled which will be required a recent photograph, pan card, and Aadhar linked your phone number.
6. Add your bank details which you want to link to your account.
And your account is open. Now you can trade litecoin as well as other cryptocurrencies easily. You can use the coins to buy things that support the coin. You can even exchange your litecoin with other cryptocurrencies like bitcoin. And even change your bitcoin to litecoin also. Litecoin is a great investment it is not as expensive as bitcoins but has almost the same features. And the potential of cryptocurrency becoming the future of the financial world the price of litecoin will also rise.
Litecoin to INR
Litecoin is trading at $215 USD which is around 6.7% down. If we calculate the value of LTC to INR price then it is approx rs 16000. There is no compulsion that you have to buy a minimum of 1 litecoin, you can buy 0.001% of 1 litecoin also.