The Difference Between Litecoin and Bitcoin

The world of cryptocurrency has been taken over, in a majority, by Bitcoin and Ethereum. These two are what comes to everyone’s mind while mentioning virtual currency.

However, a lot has changed since 2008 and the invention of Bitcoin. More cryptocurrencies have started appearing, all with improvements over the original one.

One of them is the lesser-known offspring of Bitcoin — Litecoin. Which can process transactions much quicker than Bitcoin and there’s significantly more of them than Bitcoins.

So what is the difference between Litecoin and Bitcoin? Does Litecoin have a chance of outrunning the first cryptocurrency ever invented and becoming a number one?

What Is Litecoin

Both Litecoin and Bitcoin are incredibly similar. Both are decentralised electronic currency, meaning they aren’t linked in any way to big banks and traditional banking system as we know it.

Litecoin’s code is open-source, meaning anyone can access it and is free to modify it. It also works on a shared peer-to-peer network, leaving behind a record of transactions that can be viewed by anyone who’s a member of the system.

While traditional currency supplies always fluctuate, e.g. US Dollars or Euro, both Bitcoin and Litecoin will reach a finite and the amount won’t increase.

Circulation of Bitcoin will be capped at 21 mln and Litecoin at 84 mln.

Litecoin was first introduced in 2011 by a former Google employee — Charlie Lee — via an open-source platform GitHub. Lee has recently left Coinbase, one of the most popular Bitcoin wallets.

The new cryptocurrency is often compared to what silver is to gold. In this sense, Litecoin is like silver to Bitcoin’s gold. It’s trading at less than Bitcoin, but there’s more of it.

Above all, Litecoin wasn’t supposed to replace Bitcoin but rather compliment it and offer an alternative.

Litecoin gained popularity because of its differences from Bitcoin. For instance, a Litecoin transaction takes only 2.5 minutes to process while Bitcoin transactions can take up to ten minutes to complete.

Both Litecoin and Bitcoin are built on blockchain technology, but one of the crucial differences is how Litecoin is secured.
Litecoin uses a ‘scrypt’ for computing the proof-of-work hashes.

It’s built into Litecoin and makes it incredibly hard to replicate or steal. The technology requires a huge amount of memory to infiltrate, which results in a far too expensive process to virtually counterfeit.

What Is Litecoin Mining

Just like Bitcoin — Litecoin is generated by mining. For miners and enthusiasts though, Litecoin holds different proof-of-work algorithm.

Yes, it’s time for hashes and algorithms….

Bitcoin uses a hashing algorithm, which involves calculations that can be accelerated in the mining process. Bitcoin mining also requires a raw processing power. Hence you might be familiar with pictures of large databases, full of computers and cables.

Thus, if you have enough computer power, you can quickly solve the transactions and generate new Bitcoins.

Litecoin, on the other hand, uses the above mentioned scrypt algorithm, otherwise known as s-crypt or script. It’s more memory intensive and requires not only the raw power but also computer memory to confirm transactions.

Scrypt incorporates the original Bitcoin algorithm, but it uses both the computer power and memory for mining.

What does it mean?

In the early stages of Bitcoin, everyone was able to mine transactions using regular computers (CPUs), gradually improving to more powerful gaming computers (GPUs).

By nature, the competition in cryptocurrency kept on rising. Hence there was a need for new, more profitable way of mining.

The only lucrative way of mining, accounting for electricity and mining equipment, is through the use of Application Specific Integrated Circuit (ASIC). These are expensive machines, built specifically for mining and won’t be able to be used to anything else.

As you can imagine, only a few could afford ASICs. Hence long term mining would be limited to an exclusive circle. Mining with the use of ASICs in counter-meaning in a decentralised world of cryptocurrency. It leads to a less decentralised network, which becomes worrisome.

And this is precisely what Lee wanted to avoid — he desired to make Litecoin a cryptocurrency that would be available to anyone.

Therefore he created Litecoin with a more memory intensive mining algorithm, making it less efficient for ASICs and more accessible to everyone.

The Difference Between Litecoin and Bitcoin

difference between litecoin and bitecoinOne of the most significant differences between these two currencies is the algorithm mentioned above and the way they’re mined.

But Litecoin can also confirm transactions much faster than Bitcoin. Litecoin transaction can be processed in as little as 2.5 minutes. In comparison, Bitcoin transactions take up to 10 minutes.

It’s important to remember that the cryptocurrency transactions are instant — it’s the confirmation of them that requires time.

The key transactional differences:

#1 Litecoin can handle a higher volume of transactions due to its faster block generation. For Bitcoin to match this, it would require a significant update in a code that everyone is using on the Bitcoin network.

#2 The higher volume of transactions means that Litecoin blockchain is larger than Bitcoins, with more orphaned blocks.

#3 The faster block time reduces the risk of cyber attacks, especially the threat of double spending.

#4 It encourages business to accept Litecoin as they don’t have to wait as long to confirm the transaction. If one Bitcoin transaction takes 10mins to approve, in the meantime there can be four Litecoin transactions confirmed.

How to Buy Litecoin

Litecoin explainedAfter few years of ups and downs, Litecoin has finally reached its all-time peak. The value of Litecoin increased by 1,000% in the last 90 days alone and currently stands at over $60.

Depending on each exchange, you have a choice of different methods of payment — from a credit card to Skrill.

So how can you invest in Litecoin?

Step 1 — Get a Litecoin wallet

Just like with Bitcoin — before you start investing, you should first get a wallet to store your future Litecoins. Some of the most popular wallets online are Exodus or Jaxx. If you’re looking for more security, you have a choice of hardware wallets like TREZOR or Ledger.

Step 2 — Find a Litecoin exchange

This is where it can get a bit tricky. One of the most significant issues with buying Litecoins is the lack of cryptocurrency exchanges that trade it.

If you want to invest in Bitcoin, all you have to do is go to the exchange and trade it with your USD or EUR. However, if you ‘re going to buy Litecoin, most exchanges trade it for Bitcoin.

So one of the most straightforward options is to buy Bitcoins and then exchange them to Litecoins on an exchange, e.g. Poloniex or ShapeShift.

If you want to buy Litecoin directly, two exchanges currently offer to buy Litecoins directly:

Coinbase — you can buy up to $500 worth of Litecoins using your credit card; if you verify your identity, the limit goes higher

BitPanda — it’s probably one of the best exchanges for Europeans as it’s based in Austria. Hence you can trade in EUR; trading requires identity verification, and the buying limit is 600 Euro.

Step 3 — Buy Litecoins and withdraw it from your wallet

Once you decide on an exchange, open an account and buy Litecoins. Never leave coins in an exchange, and you risk losing them if the exchange gets hacked or shuts down.

Make sure you withdraw them to your wallet!

The Future of Litecoin

One crucial factor of Litecoin is that we are all aware of the Litecoin’s vision. Unlike the founder of Bitcoin (Satoshi Nakamoto), Charlie Lee is publicly known and heavily involved in the cryptocurrency community as well as the development of Litecoin.

At some point, Bitcoin might require more direction and leadership of someone who could take it to the next level and upgrade.

Very recently, in May 2017, Lee supported adding an upgrade to Litecoin — Segregated Witness (SegWit). It’s a transaction data format that requires less storage space, hence allows for more transaction and records to be stored in.

Litecoin itself doesn’t have problems with space, but the SegWig upgrade will allow adding more innovations like Lightning Network (LN).

Adding LN to the existing technology will quickly settle the transactions, meaning not all of them would have to go through public ledger.

What’s interesting is that the SegWit upgrade applies to both Bitcoin and Litecoin. However, Bitcoin requires a 95% support from the network to introduce an update, while Litecoin only asks for 75%.

There is an existing bridge between Bitcoin and Litecoin, but the implementation of the LN will allow trading both BTC and LTC instantaneously and without a risk.

Even if a merchant doesn’t accept Litecoin, and you only have in your wallet LTC, you can send the money, and they will be instantly converted to BTC.

Which Is Better: Litecoin or Bitcoin?

What is better Bitcoin or Litecoin

Until recently, Litecoin was just a shadow of Bitcoin, and nobody was thinking about it seriously.

But there’s one significant benefit of having a vocal leader — it encourages a technological progress within the network and offers a guidance during a major disagreement. It also indicates more trust and security.

Much of Litecoin’s advancements came from its founder, and he’s still a pushing force behind its growth. He’s very clear on wanting to take a turn in Litecoin existence and perhaps even outrun Bitcoin.

Bitcoin, on the other hand, is much slower when it comes to implementing new technologies. With Nakamoto never been identified as a real person, the network will always carry a certain negative aura.

And it’s in our nature to always turn into innovations that have a more comprehensive safety net.

Whether Litecoin will reach the sky-high price of Bitcoin, it’s questionable. Probably not in the foreseeable future. But with Bitcoin’s capacity decreasing — that might turn around in the future.

What is Litecoin in a nutshell?

Quite possibly the future of cryptocurrency and Bitcoin’s biggest contender. However, let’s not forget that Litecoin already has its contender — Ripple — and will have to step up the game not to lose on outdated technology.

If you’re interested in cryptocurrency and investing — stay on your toes — Charlie Lee definitely won’t drop Litecoin’s ball and you don’t want to miss that and Litecoin becoming an increasingly good investment.

KeepKey Hardware Wallet Review

Cryptocurrency mania is well and truly underway – wherever you look, whatever you watch, and whatever you read – you are sure to hear a mention of this new type of digital money that is taking the world by storm.

When it comes to security, hardware wallets are deemed to be the most secure.

This is because, although they connect to a computer, the majority of them are immune to keylogging malware and once they are disconnected there is no way anyone can hack them.

Of course, you need to be careful not to lose it or get it stolen, but again, most offer a recovery function which means you can retrieve your bounty without too many problems.

In this KeepKey review, we will delve into its features, functions, as well as its pros and cons so you can make an educated decision whether it is a good option for you.

There is no doubt that KeepKey has one of the best reputations, as well as being one of the priciest options – but how deserved are these accolades?

KeepKey: Overview

  • Name: KeepKey
  • Website:
  • Type: Hardware Wallet
  • Cryptocurrency: BTC, ETH, LTC, DOGE, NMC
  • Fiat Currency:
  • Price: €175/$199
  • Rating: 8.0/10.0

The KeepKey is one of the most expensive, but also the most advanced on the market.

Retailing at almost $200, it is at the top end of its class and offers users one of the most secure cryptocurrency storage solutions available.

When it comes to reputation, KeepKey has one of the best and the most consistent, but of course, not everyone can quite afford its rather steep price tag.

While there are great and similar equivalents on the market, KeepKey is most definitely worth the investment, especially if you hold a large amount of cryptocurrency.

It is a hardware wallet which securely stored Bitcoin, Ethereum, Litecoin, Dogecoin, Dash, and Namecoin.

It also offers the best security features to keep your coins safe from hackers and other cyber dangers.

It works by plugging into your computer, synchronising with the specially installed software and taking care of all private key generation, private key storage, and transaction signing.

Because it does not require an operating system internally, it is entirely immune from any malware or keyloggers that any nefarious third parties may want to send your way.

The KeepKey comes packaged in a plastic-wrapped, sealed box with a hologram sticker on it similar to TREZOR and the Ledger Nano S – you can see if it has been tampered with.

The device is sleek, and slim and enjoys a smart all-black design.

It is quite heavy to hold in your hand, but in the way that it is reassuring, rather than feeling cheap or cumbersome. Made from polycarbonate and an anodised aluminium case, it is sturdy and reliable should you be a little clumsy.

It just feels expensive, which is a big plus point for some particular types of consumer that want the very best looking and feeling item possible.

The instructions are included in the box (luckily, they are short and sweet), as well as the Micro-USB cable that you will need to plug it into your computer.

All in all, the packaging is great the device is nifty and well designed, and it gets pretty much full marks from me when it comes to appearances, and as we all know, first impressions count!

So, it looks good and comes in a beautiful box, but what about the more technical details? Let us take a look.

KeepKey: Cryptocurrency Stored

At the moment, the list of currencies that KeepKey supports is rather short and is only limited to Ethereum, Bitcoin, Dogecoin, Litecoin and Namecoin, although these are the most popular at the moment, so unless you are dealing in some pretty rare coins, you should be ok.

Who knows, perhaps in the future, KeepKey will expand their list of supported currencies, it could be a good idea when you consider the hefty price tag which is attached to the device.

KeepKey: Privacy and Security

KeepKey Review- Privacy and Security

First of all, the KeepKey comes securely packaged.

Like other hardware wallets, it comes with a tamper-proof seal which means you can quickly and easily tell if someone has tried to access the device, or interfered with it in any way before you have received it.

It also comes with a pin facility, and as an extra precaution, you do not traditionally enter the pin. Instead, the pin grid displays random numbers on your browser application, and you click the corresponding numbers.

It displays each time differently, and this means even if you have keylogging software installed on your computer, hackers cannot identify the number.

The fact that the device is also an offline “cold” storage device is an extra layer of security. The device is not connected to the internet in any way, and this means that any data or information that is stored on it is completely safe from hackers.

Cold storage is by far the most secure method of keeping your cryptocurrency safe.

The KeepKey also offers users a 12-24 word seed which allows you to retrieve your wallet should the device itself be stolen, lost, or get broken.

This is your one way of retrieving vital data so be sure to set it up correctly when initialising your device!

The KeepKey is as secure as say the TREZOR or Ledger Nano, and it offers pretty much the same security features meaning it is pretty much foolproof and impenetrable to third party attempts to violate it.

What this means for you is that you can relax a little when it comes to knowing that your coins are safe and sound.

KeepKey: Customer Support

Considering the KeepKey is pretty simple to use, there isn’t a whole lot of need for extensive customer support.

Of course, when you are paying almost $200 for a device, you do expect a certain level of service!

First stop for those looking for answers is their help centre. Here you can access how-to guides which contain lots of step by step articles.

Then you can check out the FAQ section, Resources, Troubleshooting or if you are just setting up the device for the first time, head to New KeepKey Start Here.

If you cannot find the answer to your question or query in the support section, then you can progress to contact a customer service agent directly.

All you need to do is fill out your name, email, and concise but precise details of the issue and a member of their team will get back to you.

KeepKey: How To Send and Receive Cryptocurrency

You will be pleased to know that sending and receiving currency is very simple and straightforward with the KeepKey and much the same as with any other wallet.

All you need to do to send currency is to open the KeepKey client, enter your pin, click send, enter the details of the recipient and the amount you want to send, verify the amount on the device and confirm.

To receive, you need to access the client, click on “receive”, copy the receiving address, and click on confirm. Give the address to the person sending you funds and the currency will arrive in your account in due course.

KeepKey vs Ledger Nano S

KeepKey vs LedgerThe main difference between these two devices is, of course, the price tag.

The Nano sits at the lower end of the scale, while the KeepKey is at the pricier end. But which one is better?

Well its difficult to say as they both offer pretty similar features meaning that for someone starting out in the world of cryptocurrency, the Nano would be an excellent place to start, but if you can afford it, why not go for the Nano?

Both devices come highly recommended in online communities and other reviews, so it comes down to what you can afford and of course, your personal preference.

However, Ledger Nano S costs only €58/$65, and you can find out more in our Ledger Nano S review.

KeepKey vs TREZOR

KeepKey vs TREZORWhen it comes to comparing these two hardware wallets, the KeepKey comes out on top.

From the way it is packaged to its incredibly simple set up process, it emerges triumphant against the TREZOR.

While we don’t dislike the TREZOR, for us it doesn’t offer anything unique and minus points like its unnecessarily lengthy setup process, and instruction manual put us off.

We are also not a big fan of the TREZOR design – it looks cheaper and more boring, so again, the KeepKey comes out on top despite it being a little bit bulkier than the TREZOR.

TREZOR costs considerably less – €89/$99 and you can read more details in our TREZOR review.

KeepKey: Setting Up Guide

So, to get your KeepKey up and running you need to follow these steps:

  1. Navigate to the site and download the Chrome extension for your browser.
  2. Click install and allow the automatic installation of the extension.
  3. Navigate to the site and download the KeepKey Proxy Chrome app. This is also very simple, but it seems odd and a bit longwinded that you have to download them separately instead of them being combined.
  4. Once both installations, click on the KeepKey. You will see that there is only one button for clicking and this will initialise it and prompt you to name the device.
  5. Then you will be prompted to choose a pin from a scrambled keypad, similar to the design of the TREZOR.
  6. Then it is time to copy the 12-word recovery seed from the piece of paper provided, to the recovery seed card. Although 12 words are the default for KeepKey, it can be changed to 18, or 24 if required or desired.
  7. Once you have taken note of the seed, you need to press a button on the top right-hand side of the device and hold it down for two seconds. Once this is completed, a balance of zero will be shown on the screen, and this means that you are set up and ready to go.

Regarding setting up and initialising, the KeepKey was by far the easiest and the quickest. A completely seamless process from start to finish, it surpassed that of its competitors the Nano and TREZOR.

KeepKey: Why Should You Buy KeepKey?

KeepKey ReviewWhy Should You Buy KeepKey

For those that can afford to splash the cash or who are looking to make a significant investment in their cryptocurrency wallet, KeepKey is the best you are going to get.

It is the crème de la crème of the hardware wallet world, and you can tell from the quality of the device and its feel, that you get what you pay for.

That said, if you cannot afford it and have to plump for, say, the Nano, you are not going to be any worse off feature, or security wise.

It is simple to use, easy and painless to set up and it offers a smooth experience from start to finish.

It is easy to send and receive money, and its level of security is unsurpassed. This is a great product with a strong reputation and an awful lot of style.

If you are looking for a high-end product to keep your currencies safe, then I can thoroughly recommend the KeepKey for all of your cryptocurrency needs.

Check our guide to the best hardware wallets for a more detailed comparison of all hardware wallets.

Revolut Cryptocurrency Wallet & Exchange For Modern Banking

Revolut banking is one of the latest financial sensations from the FinTech startup world.

Not only, they don’t exist on any high street, and keep their banking strictly to a mobile app; they have also recently joined the cryptocurrency frenzy.

Launched at the beginning of December, Revolut cryptocurrency wallet and exchange for modern banking allows customers to buy and store cryptocurrency.

Although it’s only the first phase of the cryptocurrency expansion, and there’s still a lot missing, Revolut is undoubtedly the first financial institution to build a bridge between traditional banking and cryptocurrency trading.

What Is Revolut Bank?

Revolut banking cryptocurrency

Revolut is a FinTech startup from the UK which accumulated over a million customers across Europe in less than three years since its launch.

One of the most recognisable features of Revolut is the inexistence of traditional bank branches. Instead, everything is based on a mobile app and customers can access support via phone or email.

But, the lack of bureaucracy and modern approach are not the most attractive feature of Revolut.

Creating an account with Revolut is more similar to creating a PayPal account then to filling up lengthy forms and never-ending conversations with a representative.

Revolut account is essentially an electronic wallet with a personal IBAN number and payment card which can be topped up and used for payments worldwide.

Recently, Revolut has applied for a European banking license, which will allow them to protect funds under the European Deposit Protection Scheme. The license should be granted mid-2018

The startup offers two choices for banking – free of charge and premium which comes with perks such as travel insurance, airport lounges and soon-to-come investment services.

Another significant advantage of Revolut are the attractive foreign exchange fees. The company tries to match the interbank fees as much as possible and charges only 0.5% of the transaction fees.

While the current customer base is mainly scattered around Europe, Revolut is planning an expansion to the US, Singapore, Hong Kong, Australia and New Zealand in early 2018.

Revolut Merges Mobile Banking with Cryptocurrency Trading

Revolut launched cryptocurrency wallet and exchange

One of the Revolut’s newest features is cryptocurrency wallet and exchange.

The mobile banking startup is trying to erase the divide between old and new money, allowing customers to buy, sell, trade and hold Bitcoin, Ethereum and Litecoin alongside 25 world fiat currencies.

Customers can easily exchange their fiat currency for one of the digital currencies and both are stored at the same app without the need for a third-party involvement.

Currently, the coins cannot be transferred to an outside wallet, nor to the Revolut account.

So if you already own cryptocurrency, you won’t be able to transfer it to your Revolut wallet. Conversely, if you invest in crypto via Revolut, you cannot send your funds to an outside wallet.

This close loop system has been imposed due to compliance regulations, and caused somewhat of a backlash from customers who moved to Revolut banking purely because of the cryptocurrency feature.

All crypto funds are stored in an offline cold storage, meaning customers don’t actually have an access to their private key – both fiat and crypto are accessible through a PIN code.

Revolut security features are much stronger, though, the majority of cryptocurrency exchanges, so the likelihood of a hackers’ attack is also significantly lower.

The bank also promises the most competitive rates on crypto transactions, charging only flat, up-front 1.5% fee. On other platforms, these fees can go up to 10%.

Customers can purchase crypto with Revilut’s base currencies, hence there’s no need for additional foreign exchange fees if you want to buy in Dollars or Polish Zloty.

If you’re spending money through your Revolut account and you unexpectedly run out of fiat currency, Revolut will automatically transfer your crypto into the fiat account.

The Future of Revolut Cryptocurrency Banking

The Future of Revolut Cryptocurrency Banking

The first stage of Revolut incorporating cryptocurrency to their services is certainly not the last one.

Revolut’s CEO – Nikolay Storonsky – recently wrote:

“Despite being one of the hottest trends in the world right now, getting exposure to cryptocurrency has notoriously been time-consuming and expensive.”

While cryptocurrency is preparing to go mainstream and it might be seen as a distraction from the Revolut’s main business – Stronky feels that it will soon become a crucial part of everyday banking.

Revolut reported that during a week-long crypto beta test, 10,000 customers traded $1 million in cryptocurrency.

Currently, Revolut’s cryptocurrency feature seems more appealing to investors – who prefer the convenience of having everything in one place, rather that the anonymous and decentralised aspect of cryptocurrency.

Even though the Revolut cryptocurrency wallet and exchange for modern banking have not been welcomed as much by crypto-enthusiasts, those who are looking for a long term investment shouldn’t be disappointed.

Revolut banking will certainly keep on growing, and with cryptocurrency market facing the same trend, it seems like a perfect match and embracing cryptocurrency could lure FinTech early adopters to Revolut.

However, if you prefer traditional ways of investing in cryptocurrency, read our guide to the best cryptocurrency exchanges.

How To Buy Litecoin (Using The Best Cryptocurrency Exchanges)

Did you know that there are quite literally hundreds of different cryptocurrencies in circulation at the moment?

With more and more appearing each day, the marketplace is becoming increasingly competitive.

Investors want to get rich as quick as possible and following the phenomenal success of Bitcoin, they are keeping their eyes peeled for the next big thing.

Litecoin is a name that has been shouted from many a rooftop, and while it hasn’t yet reached the dizzying heights of Bitcoin, it is one of the most well-known cryptocurrencies out there, and it is also the third largest coin after BTC regarding market capitalisation.

It works in pretty much the same way as Bitcoin, and units of Litecoin can be transferred across an online network to make payment in return for services, other currencies, or something else entirely.

Like every other cryptocurrency out there, Litecoin is not issued or controlled by a government, and it is decentralised.

All Litecoin transactions are processed every 2.5 minutes, the network creates a block (a ledger entry of every recent Litecoin transaction in the world), and when this block is mined, the miner receives the coin into their cryptocurrency wallet.

Litecoin is limited to a maximum of 84 million coins in circulation ever, and once they have all been mined, there is no way to create any more.

As its popularity and value soar, investing in Litecoin is a possibility that lots of avid crypto-enthusiasts are starting to explore.

If you are one of these people, then you are probably wondering how to buy Litecoin, so read on to find out more!

History of Litecoin

Litecoin was released on an open source client on GitHub on October 7th, 2011.

Created by Charlie Lee, a former employee of Google, the network then went live a few days later on October 13th.

It was designed as a fork of the Bitcoin Core, but it was considered an improvement as its block generation time was considerably less at 2.5 minutes, compared to Bitcoins 10.

By November 2013, the value of Litecoin experienced a massive surge of around 100% in just 24 hours, and in the same month, it reached the $1 billion market capitalisation mark.

Towards the end of the month it had quadrupled, and by December it had reached $20 billion, and each coin was worth $371.

In May 2017 it had secured its place as one of the top-5 currencies by market cap, and in May of the same year, it participated in the first lightning network transaction where a fraction of a coin was transferred between Zurich and San Francisco in under a second.

Today it is one of the top cryptocurrencies in the world and offers a more accessible investment opportunity when compared to its bigger brother, Bitcoin.

Why Use Litecoin?

There are several reasons why you should consider investing in Litecoin.

Firstly, it is not as expensive or valuable as Bitcoin yet – meaning it is easier for you to purchase more coins for less money.

It is far more accessible for amateur traders and investors. What’s more – as its value is on an upward trajectory, it means it is a much more sound and reliable investment that is likely to offer you a big return.

Some say that Bitcoin is a bubble that will burst as its value is unsustainable, and for this reason, using Litecoin is a great alternative.

The other bonus of using Litecoin is the fact that its transaction times are significantly less than Bitcoin.

You can affect a transaction with Litecoin in just 2.5 minutes, whereas with Bitcoin the wait is ten minutes (up to a few hours).

In short, the Litecoin ledger is significantly more efficient and user-friendly.

Where Can You Buy Litecoin?

How To Buy Litecoin (Using The Best Cryptocurrency Exchanges)

You have two options when it comes to procuring Litecoin. You can invest significant time, effort and money into mining your own.

This requires expensive, dedicated computers and a lot of electricity to facilitate, and if you are mining small time, the costs can often outweigh the rewards you are reaping.

The second option is to purchase Litecoin. This can be done with fiat money or another cryptocurrency, but you need to utilise a specialist platform to do this.

There are many platforms on the market that facilitate the buying, selling, trading and exchanging of cryptocurrencies and fiat currencies.

However, knowing which one to go for will depend on the way you want to pay (with fiat currency, or cryptocurrency), how much you want to buy, and of course, what you want to do with it.

Here we have brought together a few examples of the different types of exchange where you can purchase Litecoin, so you can do your research and decide for yourself, which is the best option for you.

Buy Litecoin With a Credit Card

Most people, particularly beginners and those just finding their feet in the crypto-crowd, often prefer to pay with a credit card.

This is by far the most simple and straightforward way, particularly if you do not hold any existing cryptocurrency coins.

The following are platforms where you can purchase Litecoin by using your credit or debit card:


If you want to buy Litecoin with a credit or debit card, then shopping with Coinbase is the best option for you.

It is by far, the easiest way to purchase Litecoins with a credit card and it is available to clients in the US, Canada, Europe, the UK, Singapore, and Australia.

Fees are around the 3.99% mark when buying with a credit card.

Located in San Francisco, Coinbase predominantly broker exchanges between Bitcoin, Bitcoin Cash Ethereum, Litecoin and fiat currencies.

It was founded in 2011 by Brian Armstrong and Fred Ersham and by 2014 they had reached over 1 million users.

By January 2017 they were given a BitLicense from the New York State DFS meaning they are one of the few exchanges allowed to operate in the city.

A few months later, they were also given the ok to offer trading in Ethereum and Litecoin.

They have been a bit controversial in recent months, particularly in America as on November 29th, 2017, Coinbase was ordered by the IRS to report all users that have bought, sold, sent, or received any figure over $20,000 in a year, through their accounts.

While some people believed this went against the core principles of cryptocurrency, others praised their compliance with national regulations.

By the end of the year, the Coinbase app was the most downloaded app on the Apple Store.

For more details, read our Coinbase review.


This is an Austrian crypto-brokerage service which allows customers from most EU countries to purchase Litecoin with a credit or debit card, Skrill or SEPA transfers.

For any individuals who are resident in the EU, the fact that you can pay via SEPA transfer is a big plus.

The company is quite new in comparison to some of the other names on the list, and it was formed back in 2014, but it has since become one of the most trusted names in the market.

While its exchange rate is a little higher than some other alternatives, it’s not the most expensive you will find.

BitPanda is also quite stringent when it comes to verifying your identity.

If you are looking for an anonymous platform, then this is not the one for you as you need to submit an ID form and take part in a video chat verification to verify your account and secure a higher transaction limit.

Read more in our BitPanda review.

Buy Litecoin with Cryptocurrency

For those cryptocurrency fiends who already hold a portfolio of coins, there are several ways of purchasing your Litecoin by using your existing coins.

By taking fiat currency out of the equation, you can enjoy higher levels of anonymity, as well as the feeling of liberation from not using centralised and government-controlled fiat currencies.


Based in China, Binance broke into the top five best cryptocurrency exchanges after attracting 3 million customers in just five months.

With such a high surge in trading volumes over a short period, Binance is clearly trusted by professional traders and are expected to be a leader in the crypto community.

The company also has significant trade factors that make them an attractive proposition:

  • quick transactions
  • low-interest rates
  • excellent user ratings
  • token based model
  • trader-friendly exchanges
  • easy-to-use website

Contributing to their reliability is the company’s expertise. The Binance team includes former employees of Bloomberg, Morgan Stanley and

The company’s infrastructure comfortably handles 20 million logins simultaneously plus 1.4 million trades per second.

The only downside is that Binance is a crypto-only exchange and does not accept fiat currency deposits.

This digital exchange outfit is, therefore, no use to newcomers but arguably the best option once cryptocurrency is part of your investment portfolio.

Another plus with reviewers is the company’s competitive referral system and their excellent 24/7 customer support team which is available in multiple languages.

Read more in our Binance review.


This platform was founded back in 2013, and at its inception, it was the first cloud mining provider.

It has since evolved to become a multifunctional cryptocurrency exchange, and it has well more than half a million regular users.

The beauty of this site is that you can purchase your Litecoin, trade your Litecoin, and sell your Litecoin across multiple different platforms including the website, mobile app, and REST API.

As well as Litecoin, you can dabble in Bitcoin, Ether, Ripple, BTC, Dash, Zcash and Bitcoin Gold.

You can also choose to trade with USD, EUR, GBP and RUB so you have pretty much covered all buying options.

When it comes to security levels, CEX.IO is considered as one of the most secure around because they possess a PCI DSS certificate (Level 2).

This means that they satisfy some pretty stringent security criteria when it comes to storage, processing, and the transmission of sensitive data such as card details.

They also apply AML and KYC procedures and policies to their clients and offers two-factor authentication via Google Authentication, or via SMS/telephone call.


Changelly is one of the quickest ways in which you can buy Litecoin in exchange for Bitcoin.

All you need to do is input the amount of Litecoin that you will be given an LTC address. Then you will be advised how much BTC you are required to send to fulfil your order, and then you just need to do the transaction.

Once the BTC has been sent, you will find the LTC appear in your wallet in a matter of moments.

This platform offers a wide range of cryptocurrencies, but it doesn’t provide any conversion to, or from, fiat currencies.

Launched as a start-up in 2013, it has undergone several transformations over the years, finally being launched with a new look in April 2017.

Changelly also offers widgets for publishers that can be integrated into their websites, as well as providing API for merchants which allows them to exchange digital currencies directly, as well as providing crypto wallets and payment providers to their customers.

Why Should I Invest In Litecoin?

Why Should I Invest In Litecoin

You should invest in Litecoin because many believe it is a more improved version of Bitcoin.

There are some that say the Bitcoin bubble is going to burst, and there is no doubt that due to the massive increase in its value, it has become very inaccessible or many.

There is an argument to be had that the fact it is worth so much, means that there is a chance it could be difficult to make any real, or substantial gains at this stage, therefore it might be best to look elsewhere.

When it comes to high processing times, and a winning concept, Litecoin has it covered.

The fact that it is much cheaper (for now) than Bitcoin, is just the cherry on the cake and I would advise everyone to include Litecoin in their portfolio because I firmly believe that the future holds great things for this unassuming, Bitcoin alternative.

Understanding how to buy Litecoin and how to start investing in the silver to Bitcoin gold is just the beginning.

The next step is getting yourself a reliable cryptocurrency wallet, such as Ledger Nano S, and taking care of the safety of your coins!

How Does A Litecoin Mining Pool Work?

The cryptocurrency market is notoriously volatile.

But for Litecoin miners, there is still the possibility of making a steady income from digital currencies.

This article explains how a Litecoin mining pool works and discusses the prospects you have of earning a living from mining cryptocurrencies.

Mining cryptocurrency has become a lucrative occupation. At the time of writing, the price of Litecoin is $201.76 and has a strong chance of increasing over the course of the year. The more Litecoin increases in value, the more money Litecoin miners can make.

The digital mining community intents on elevating blockchain technology into the mainstream and provide a solution to the flaws of the current financial system.

Blockchain provides a secure means of trading and banking without being charged ludicrous fees imposed by governments and financial institutions.

However, investing in the hardware you need to successfully mine cryptocurrencies on a regular basis is an expensive business. Unless you have substantial financial backing, first-time miners typically have insufficient rigs to pack enough power to solve the algorithm.

The alternative option is to join a Litecoin mining pool. Altcoins based on scrypt currencies can be mined on regular PCs.

Litecoin is one of the leading cryptocurrencies on the market and has maintained a top five position in the cryptocurrency charts since hitting a record high in 2017.

According to CNBC, early adopters of the altcoin netted profits of almost 1,400 percent of their initial investment. Since then, the value of Litecoin has more than tripled.

The cryptocurrency has attracted additional interest recently after upgrading its technology and boosting transaction speeds. Hence, prospective miners entering into a new venture have plenty to feel confident about.

But what are mining pools, how do they work and what are your chances of earning a living from mining Litecoin?

What Is a Litecoin Mining Pool?

Generating digital coins and making a profit is not easy.

The competition is very stiff, and it can take months to find a Bitcoin or Litecoin and create a hash.

Mining pools are a protocol that enables a group of miners to work together and increase your chances of getting a return from cryptocurrency mining much quicker. To earn money, you still need to know which mining pools are the most productive.

Bitcoin mining is performed by individual companies that compete against one another to determine the mathematical formula that seals a blockchain and bags the reward. Mining tokens is a bit like entering a race where the winner is rewarded with 12.5 bitcoins.

The profitability of Bitcoin mining has been exceptionally high since the leading cryptocurrencies rocketed in value throughout 2017.

Mining companies have subsequently invested thousands of pounds in developing high-performing computers solely dedicated to mining Bitcoin or altcoins such as Litecoin and Ethereum.

Subsequently, mining virtual coins has become very difficult for newcomers with a small rig.

Mining pools aim to provide a solution for professional and non-professional miners to make profits from mining virtual tokens. Litecoin mining pools offer an additional opportunity.

There is less competition in mining Litecoin compared to Bitcoin which means you are more likely to earn more rewards on a regular basis.

Mining pools are a conglomerate of miners that all use their resources to solve mathematical problems that create a blockchain and seal it with a hash.

The combined power of multiple computers provide miners with a rig that is better equipped to compete against established cryptocurrency exchanges. This is not possible for solo miners with a small set up.

Although there are multiple miners in one pool, sealing a blockchain is only rewarded with 12.5 bitcoin.

The reward is shared amongst all the miners in the pool on a proportional basis.

Percentages are worked out by the amount of hash power you contribute. Therefore, if you contribute 10TH to a 100TH mining pool, you get a 10% cut of 6.25 BTC.

Mining pools work slightly differently to traditional mining.

They are managed by a pool operator who runs pool software instead of a dedicated bitcoin client. The software allows the operator to perform hashes for the pool and verify how much work has been contributed by each member. Shares are then dished out proportionally.

Single Mining Pool vs Multi-Mining Pool

Single Mining Pool vs Multi-Mining Pool

Some mining pools focus on a single cryptocurrency whereas others mine for multiple altcoins.

Single mining pools focus on one particular coin 100% of the time. Multi-mining pools flit between various altcoins.

Pool operators use several factors to decide which is the most popular currency at any given moment in time, thus likely to return the most profits.

Multi-pool miners still only mine one coin at a time. The difference is they will flit from one altcoin to the next.

Pool operators analyse the market and speculate which altcoins are performing well. The decision of which coin to mine is based on the mining power of the network and the exchange rate of the cryptocurrency.

The ultimate goal of multi-mining pools is to make profits to be shared amongst the network of miners.

With proper management, multi-mining pools can quickly take control of a security network and increase the block time. However, the success rate depends on how difficult it is to adjust the algorithms and find the right mathematical formula that mines a large number of blocks in a short space of time.

Once multi-pool syndicates have mined an altcoin and sealed the blockchain they will typically sell the coin and convert it into BTC. However, this can have an adverse effect on the tokens as it depresses the supply of a particular cryptocurrency which ultimately lowers the price.

What Are The Mining Pool Rewards?

What Are The Mining Pool Rewards

Every time a blockchain is completed, the mining company, individual or group that solves the algorithm is rewarded with 12.5 bitcoins.

This is then shared amongst the group by following with how much hash power and work you contributed to the network.

Before jumping into a mining pool, it is essential to assess how the share of payout is calculated – together with subscription fees which also need to be deducted.

It is important to understand how the distribution of shares is calculated, together with the pools success rate, before choosing a mining pool to join.

For newcomers, the crucial points to remember are that payments are divided in relation to a protocol known as a ‘proof of work.’

Mining is based on the principle of solving cryptographic puzzles, all of which are assigned a difficulty level which is essentially a measure of quality. Miners that provide a solution to the algorithm that is above the difficulty rating of the currency is awarded the blockchain.

Schemes within a mining pool vary. Although most pools focus on the number of shares a miner has contributed to the pool as ‘proof of work’, they also set difficulty ratings.

This enables pools to quantify how much miners are contributing to solve blocks and work out the processing power each member is contributing to the pool.

The most common method of dividing payments among pool members is the ‘Pay Per Share’ (PPS) model.

There are usually variations that put percentage limits on the number of shares that are paid out to any one person. Look out for mentions of equalised shared maximum (ESMPPS) or maximum pay per share (SMPPS).

Another factor to consider is how much the mining pool deducts for being a member. The values typically range from between 1-10%, but there are also some pools that don’t charge anything at all.

The Pros and Cons of Mining Pools

Solo mining is a slow process, and if you don’t have a robust ASIC bitcoin mining chips, it’s impossible to make a profit from mining cryptocurrencies. And bitcoin hardware can be costly.

Companies with financial backing have invested thousands of dollars in building rigs capable of mining tokens on a regular basis. Miners with a comparatively low ASIC is outpowered.

Unless you can successfully hash a blockchain, all your hard work and investment comes to nothing. Mining pools were envisaged to resolve this issue of the large companies monopolising the mining process.

Joining a mining pool, however, has both advantages and disadvantages:

The advantages of mining pools:

  • Increase your odds of earning from mining Litecoin and other altcoins
  • Part of a network of miners that can produce a rig with enough power to rival large companies
  • More computers on the network break down the complexity of solving mathematical problems
  • Work with professionals (a boon for newcomers who have yet to experience cryptocurrency algorithms)
  • Enhance your skills
  • Steady stream of income

Disadvantages of mining pools:

  • Rewards are shared so you receive lower earnings
  • Centralises mining which works against the philosophy behind cryptocurrencies

Litecoin Mining Pool vs Bitcoin Mining Pool

Bitcoin mining pools are well established now, and the hardware is better equipped than Litecoin.

Subsequently, ASICs designed to solve proof of work for Litecoin are scarce and difficult to find. This is likely to improve over time, however.

The saving grace for Litecoin miners is that blockchain uses a different proof of work than Bitcoin.

This means that Bitcoin miners cannot mine for Litecoin. And after Bitcoin, Litecoin is one of the most liquid cryptocurrencies that is most widely recognised.

The best Litecoin mining hardware at the time of writing is the Antminer L3+ or the Antminer S7.

The Future of Mining Pools

The Future of Mining Pools

Now the value of Bitcoin has increased exponentially, so has the competition of mining virtual currencies.

Without a significant amount of capital upfront, it is impossible to mine cryptocurrencies and make a return on your investment. Furthermore, as it becomes more difficult for participants to purchase new generation hardware, mining pools are the best option.

However, the more people that join mining pools, the less each member makes in profits. Mining pool operators will only allow a certain number of members into the group, but on the flipside, more groups will be established, and the competition between mining pools becomes even more frenzied.

Mining pools will also make the qualifying criteria for members more rigid.

Miners hoping to join with insufficient hash power and a lack of proven experience of solving hashes will be turned away. Miners hoping to profit from cryptocurrencies will, therefore, have to improve the amount of power they can contribute.

Companies with industrial-scale mining rigs will inevitably continue to dominate the crypto ecosystem and make it even more difficult for mining pools to compete. The only response will be to add more members to the pool which will ultimately result in a lower share of profits.

Furthermore, not all mining pools will be able to seal a sufficient amount of blocks and will earn their money by charging members higher rates to stay in business.

This will be a detriment to miners with small rigs that are hoping to make a return on their investment.

There are also predictions that traditional mining might be replaced by so-called smart mining pools based on the Ethereum smart contracts.

Before joining a mining pool, research forums and get the latest advice from active members.

Another danger is that miners will have to compete with tight profit margins. This fosters a mentality of winning short-term profits and sacrificing the long-term health of the ecosystem.

Cryptocoins will rise and fall in an already volatile market. We already see evidence of this in the multi-coin mining pools.

If you’ve already invested in mining hardware and not having any joy on your own, it is worth contemplating joining a Litecoin mining pool.

You will earn less for solving blocks, but you significantly increase your chances of making a steady flow of income – which is better than nothing.

Before you decide which pool to jump into, study the various schemes of Litecoin mining pools carefully and select an operator that is proving it can compete with cryptocurrency exchanges.

For more information, visit our Litecoin page.

Litecoin vs Ethereum (Which One Is Better To Invest)

As the cryptocurrency craze is taking hold, savvy investors are always on the lookout for other opportunities to invest.

As the price of Bitcoin continues to climb, many are either finding it inaccessible or are concerned that its bubble will burst. Luckily, there are many other options out there and with more ICOs announced every day, investors have their pick of possible new paydays.

There are, however, two well-established cryptocurrencies that are worth your attention and these are Litecoin and Ethereum.

Enjoying a position amongst the world’s most famous crypto-coins, they both offer superb opportunities for investment, trading and mining.

But when it comes to Litecoin vs Ethereum, which is the best? What are the differences between them? And which one should you choose to include in your cryptocurrency portfolio?

Let us read on to find out more!

What Is Litecoin?

Litecoin is a cryptocurrency which is loosely based on the concept of Bitcoin.

To date, it is not as valuable as Bitcoin, but its popularity is undoubtedly on an upwards trajectory. In 2017 alone, its value against the dollar shot up 7291% compared to Bitcoins 1731%. If it keeps going at the rate it is going; it is set to be one of the best investments in the cryptocurrency market.

Litecoin was created by an ex-Google employee called Charlie Lee who had the idea to create a lighter, and quicker version of Bitcoin. Litecoin was then launched in 2011 via an open-source client on GitHub.

It is mostly a fork on the Bitcoin Core Client, and Litecoin is often referred to as the “silver” to Bitcoins “gold”. Many say that Bitcoin is excellent for long-term holding and investing, whereas if you want to make lots of small transactions, Litecoin should be your crypto of choice.

What Is Ethereum?

Ethereum is a little more technical in the way that it works.

While Litecoin works on the blockchain- an open source, a decentralised ledger of transactions, Ethereum utilises it differently. The simplest way of explaining Ethereum is that it is an open source software platform which uses blockchain technology to build and then roll out decentralised applications across the network.

Like Bitcoin, Ethereum is considered as a distributed public blockchain network. However, there are some significant differences between the two, the most important of which is that Ethereum has significantly different purposes and capabilities.

Rather than focusing on who owns what coin, and what transactions have been made, Ethereum concentrates on the running of a code related to a decentralised application. Ethereum is generated or mined by users working to earn them, rather than solving algorithms in the case of Bitcoin.

Ethereum is so much more than just a currency; it is an application development platform which provides endless possibilities for its users, including smart contracts. This is one of its biggest draws as its infrastructure reassures investors in its longevity.

Litecoin vs Ethereum: The Difference

The main difference between the two coins is the fact that Litecoin is transactional, whereas Ethereum has other uses.

In other words, Litecoin is strictly a currency that can be exchanged for goods and services, or traded with fiat currencies or other coins.

Ethereum also works in the same way as a cryptocurrency, but it also offers a network which is capable of providing crowdsourcing for other projects. Its infrastructure works by decentralising the management structure and by including something called a “smart contract” which is another word for a piece of software that runs the organisation.

Once a funding period can be created for a new organisation, and once the target has been met, further steps can be created, and proposals made. These are then voted on, and the number of votes which are allotted to each person is then linked to the number of coins which are contributed. The more coins that are given during funding, the more significant the number of votes that are offered.

When it comes to the cost of transactions, there are differences yet again.

In regards to Litecoin, the value of a transaction is pretty stable at around $0.04 per transaction. Ethereum, on the other hand, takes a slightly different approach to the matter and each transaction cost is calculated base on the complexity of the transaction, as well as the amount of bandwidth needed, and any applicable storage needs.

Litecoin is attractive to many investors because it has significantly more coins available to be mined than Ethereum.

There are a total of 84 million crypto tokens available to be mined which far exceeds other coins on the market. This is driving up interest in the currency and also suggests more longevity as well, which means the value of each coin could far surpass that of its competitors.

Ethereum and Litecoin are essentially like apples and oranges – both are edible fruits, but that is where the similarity ends.

Litecoin is perfect for those who want a replacement for fiat currency, whereas Ethereum is for those that are interested in the other functions that it possesses that far surpass the exchange of goods and services for coins.

Litecoin vs Ethereum: Difference In Mining

What is cryptocurrency mining

If you want to “mine” Ethereum, you are going to need to get yourself what is known as an AWS EC2. Of course, if you’re going to do it the easy way, you can just purchase it through an exchange such as Binance or Coinbase, but if you want to do things correctly, be prepared to put a bit more work in.

As Ethereum has become more and more popular and more miners are joining the network, it means that it is becoming harder to solve the problems.

This has resulted in a situation where mining Ethereum is a little bit costly– unless you are intending on mining a considerable amount of coins, it probably won’t be worth it as the returns are low and the equipment you need to do so, is somewhat pricey.

That said, as the price of Ethereum continues to rise, it will reach a point where it is worth your while.

If you are still set on mining, you need to get yourself an AWS, and EC2 Console, and Ethereum wallet. Then you need to join a mining pool. Joining a mining pool means that you can efficiently pool your resources and mining efforts with other users and the divide up the rewards.

This makes mining much easier, quicker, and cheaper than if you were doing it on your own.

When it comes to mining Ethereum, it is an expensive process. An hour of mining costs about $2.60 in expenses, whereas the gains for a day would be the same as the hourly rate.

Of course, we don’t know what will happen in the future, and as the cost rises, we will expect to see that the cost of mining becomes more tenable. If you want to get your hands on some Ethereum, the best way to do so is through a cryptocurrency exchange.

When it comes to mining Litecoin, it is a little more straightforward and cheaper, although it is still not for the fainthearted. You can mine Litecoin with a home computer, although getting some fancy equipment will increase your productivity. The good news is that it is easy to set up a mining operation and you will start to see the profits coming in pretty quickly.

First up you need to get your hands on a computer that will be specifically dedicated to mining. In crypto circles, this is known as “rig”. For it to be effective, you need a computer that has at least two graphics cards that need to be linked together in a custom setup.

You can purchase the equipment that you need online, or you can attempt to build your own, depending on how technologically minded and skilled you are.

You also need to consider that you will need system RAM equal to the graphics card RAM and you will need a specific cooling device for your mining machine, to ensure that it doesn’t burn out in a short space of time.

You could also consider using an ASIC Scrypt miner who is a specialist device that can significantly increase your mining capabilities, but remember that these can be quite pricey. You can get lower power versions which will allow you to save on electricity and operating costs.

If you decide to go for a Scrypt miner, you can also use it for other Scrypt based coins apart from Litecoin, meaning it is essentially multi-purpose.

You will also need to get a Litecoin wallet to store your haul in and consider joining a mining pool to increase your productivity through sharing the effort with other miners.

Remember, when you are mining either Litecoin or Ethereum that it is wise to keep checking your productivity and profitability. Be sure to monitor your electricity bills and the costs of replacing equipment as these can add up rather quickly. The moment that the exercise of mining starts costing you money with no return is the moment that you need to switch to buying and trading instead.

Litecoin vs Ethereum: Which One Is Better To Invest

Litecoin vs Ethereum Which One Is Better To Invest

There is a lot of debate around which coin is the best one to invest in and a lot comes down to personal preference.

Many people believe that Litecoin will one day replace Bitcoin, once its bubble bursts. Due to the fact it is significantly cheaper to make a transaction, and it takes a lot less time, it takes out a lot of the criticism that has surrounded Bitcoin.

Also, for now, the price is still at a level which is accessible to most and will, with any luck, offer a sound return on investment.

When it comes to Ethereum, one of the most significant selling points is that it is not just a cryptocurrency. It is considered as more stable than something that is just a currency because it has features and properties that far extend beyond monetary value.

Because it is used to develop and roll out applications via developers, it makes it more secure and less likely to disappear into thin air in a matter of months.

If you are looking to just invest in, or trade in small amounts then Litecoin is probably your best bet. If you want a cryptocurrency to use as a currency, then it is the best option due to its fast and low-cost transaction capabilities.

If you are looking to invest heavily in a coin and to keep it for a long time without enacting many transactions, then Ethereum is worth your attention. Also, if you are a developer or are interested in exploring the application based functions of it, then Ethereum is the one for you.

It comes down to personal preference, and to be honest, I cannot see either coin disappearing anytime soon, and both are on an upward trajectory regarding value. Instead of choosing between Litecoin vs Ethereum, you could decide to invest a bit in each of them and create a diverse portfolio.

Either way, both Ethereum and Litecoin are looking like equally sound investments, and if you have the assets and ability to invest in both, I would suggest you give it some serious consideration.

Remember that mining is probably not going to be particularly financially lucrative for you, so the best thing to do is fine a fiat-crypto or a crypto-crypto exchange where you can purchase your coins at market value, without having to pay expensive electricity or hardware costs.

See the best cryptocurrency exchanges for Litecoin and Ethereum.

New USB Powered Riser Cables Make Rig Builds Easier

For those who aren’t aware there are now some new riser cables on the market. These risers comprise of a x1 connector that is plugged into your motherboard. A USB cable of between 60cm and 100cm is connected at this point. At the other end of the USB cable there is a circuit board with a x16 slot for you to clip in your PCI-E Graphics card such as a R9 290.

These risers allow you to easily build rigs and move your graphics cards up to 1 metre away from your motherboard. Remember how we struggled with 15cm flexing the cable and not being able to place the card where we wanted to. Now we can mount GPU cards securely by clipping them into the circuit board socket and place them in a position to get the best airflow. I’m looking to get some of these cables shortly guys so if anyone wants to place some pre-orders feel free to drop me an email or hit me up on skype.

I will leave you with a photo of the new riser cables below:

New Riser

What Is Litecoin? (And Is It Worth Your Investment)

In 2018, everyone has heard of Bitcoin, Ethereum and various other cryptocurrencies.

As we move into the new year, it seems like everyone is getting involved in crypto coins.

While Bitcoin has dominated the news in recent years, there have been many other alternatives growing in popularity and value in its shadow, and now that Bitcoin has become out of the reach of most casual investors, it is worth looking elsewhere for investment opportunities.

One of the names you might have heard bandied around various internet forums and cryptocurrency sites is Litecoin.

But what is Litecoin? Is it worth investing in? And should you jump in at the deep end and give it a go?

To answer your questions, let us read on and find out more!

Litecoin Explained

Litecoin is the fourth most popular digital currency in current circulation, and 2017 saw its market capitalisation reach incredibly dizzying heights.

Its stratospheric rise to prominence is reminiscent of Bitcoin a few years ago, and for investors looking for the next “bitcoin”- this could be the currency for you.

Litecoin is based on a similar concept to that of Bitcoin and it actually “forked” off the Bitcoin ledger back in 2011.

When it was launched, it was intended to be the silver version of Bitcoins gold, and it was engineered to be a more lightweight version of Satoshi Nakamoto’s crypto coin.

One of the big bonuses with Litecoin is the fact that it takes around 2.5 minutes to complete a Litecoin transaction, compared to Bitcoins 10 minutes plus (recently, more like few hours).

It is defined as a peer to peer cryptocurrency that was realised under an open source project on an MIT/X11 license.

The creation and transference of the coins use an open source cryptographic protocol, and it is complete decentralised.

It was launched on the 7th of October 2011 and was created by a former Google employee called Charlie Lee.

It is substantially identical to Bitcoin, except it has a lower block generation time, a maximum increase number of coins, a different hashing algorithm and a slightly different GUI.

By November 2013 Litecoin had achieved a market capitalisation of $1 billion, and by 2017 its market bap was $20,000,000,000 with a value of more than $371 per coin.

As of May 2017, Litecoin became the first cryptocurrency to use the Lightning Network and to transfer a fraction of currency between Zurich and San Francisco in less than one second.

How Is Litecoin Mined?

How Is Litecoin MinedLitecoin is a lot easier to DIY mine than a Bitcoin and can be done at home with a regular PC.

If you have a particular mining machine that uses Scrypt, then you are at an advantage, but it is not a necessity. If you want to mine your own Litecoin, you can do so from home, with just an afternoon of setting up.

First of all, you need to understand the process of cryptocurrency mining.

To mine a cryptocurrency, you need a machine that can process and solve complex algorithms. As soon as that block of algorithms is solved, more currency is released into the market, and essentially, into your pocket.

The next thing to consider is if you want to mine, or if it makes more sense for you just to purchase it on an exchange.

Be aware that you will need to pay for a computer capable of mining, as well as the electricity required to power it.

You also need to be aware that the process of mining can make your bills rack up quite considerably.

As a general indication, mining on your home computer and taking into account the costs of the hardware and electricity – the cost can often outweigh the amount that you mine.

If you are considering mining on a small-time basis, it could be worth just purchasing it instead and saving yourself all of the other overheads.

Next up you are going to need to get yourself a mining computer as using your work laptop isn’t going to cut it.

The technical word for these machines is a “rig”, and you will need at least 3 or 4 graphics cards that are connected to a custom setup.

You can purchase these online, or make your own but again, that depends on how technical you are.

You also need to have as much RAM as you have on your graphics cards, and you need to invest in a specific cooling device to keep your computer at a constant temperature and stop your machine from burning out.

It is also worth considering a specialist ASIC Scrypt miner which is a particular machine that can significantly increase your mining capabilities.

They don’t come cheap, but they tend to be much more efficient than doing it yourself.

You can also get low-power versions that can save you a fortune on electricity. They aren’t the easiest things to track down, and you may have to go on a waiting list before you can purchase one, but if you can afford it, it is well worth the investment.

Once you have considered these options, you need to put some serious thought into deciding if mining is financially viable for you.

Check out the trends for Litecoin and work out how much mining you will have to do to pay for the equipment, electricity, and the internet.

If you are breaking even on coins vs costs, then you are probably better just purchasing them.

If you are going to mine Litecoin, or even just purchase them, then you need to make sure you have a secure and effective Litecoin wallet to store them in.

Depending on your needs and requirements there are many options out there for you to consider, so do your research and pick the one that is right for you.

Another option for those that wish to mine Litecoin is to join a mining pool.

There are lots around, and they can save you a lot of money, and time when it comes to mining a particular block.

It essentially combines all of your efforts and facilities with other users and then splits the reward equally among everyone that has participated. Yes, you will get less coin in your wallet, but you will have saved yourself the financial outlay of mining, and you have a chance to regularise your income.

Litecoins vs Bitcoin

The difference between Litecoin and Bitcoin

While Litecoin and Bitcoin are similar in many ways, there are also several differences between them:

Different Algorithms

First of all, the two cryptocurrencies used different algorithms.

Bitcoin utilises the well known and recognised SHA-256 algorithm, but Litecoin makes use of a newer, improved algorithm known as Scrypt.

The difference between the two is that they both have a very different impact on the way in which new coins are mined.

While the process of confirming a transaction requires immense computing power, the SHA-256 is considered to be a much more complicated process than Scrypt.

Scrypt is generally less susceptible to hardware issues that are employed by ASIC based mining, but that has only resulted in coins such as Litecoin that use Scrypt based currencies, being considered more accessible to anyone that wants to participate in the process of mining.

Coin Supply

Another significant difference between the two is the number of coins that are available to be mined.

Bitcoin has a capped limit of 21 million coins, whereas Litecoin has 84 million coins available. Litecoin also takes significantly less time to process a transaction with it taking just 2.5 minutes, compared to Bitcoins 10.

How Can Litecoin Be Used?

Litecoin can be used for a variety of reasons.

First and foremost, you can use it on an exchange in the same way that you might use a fiat currency. You can buy and sell it against the value of other fiat or cryptocurrencies and use it to make a profit.

Alternatively, you can buy it and keep it in your cryptocurrency wallet, and then sell it on at a time when you can make a profit, based on how much you paid for it initially.

The other option is to use it to exchange for goods and services.

As Litecoin’s popularity increases, there are a growing number of retailers and merchants that will accept the coin or a fraction of the coin for payment.

It isn’t just the big names that are accepting Litecoin – a growing number of smaller merchants are advertising that they will accept payment in a range of other cryptocurrencies- Litecoin included.

How and Where to Buy Litecoin?

If you have decided that mining isn’t for you, then don’t worry, there are plenty of places where you can purchase it, or exchange another cryptocurrency for it.

Which exchange you use will depend on whether you have fiat currency to exchange for Litecoin, or whether you want to purchase it using another cryptocurrency such as Ether, or Bitcoin.

We have listed some options here:


Coinbase is one of the worlds most famous and well-known cryptocurrency exchanges and wallets.

It was launched in 2012, and since then they have grown to have over 12 million global customers and trade value to date more than $50 billion.

It’s well known for being very easy to use, as well as being available to customers in most countries.

You can pay by bank transfer or credit card, but be sure to check the fees before you press send as they can reach as much as 5% in some cases.

Also be aware that you will need to verify your account with information like utility bills and government-issued ID before you can purchase your Litecoins.

For more details, check our Coinbase review.


This platform was founded back in 2013 and at its inception, it was the first cloud mining provider.

It has since evolved to become a multifunctional cryptocurrency exchange and it has well in excess of half a million regular users.

The beauty of this site is that you can purchase your Litecoin, trade your Litecoin, and sell your Litecoin across multiple different platforms including the website, mobile app, and REST API.

You can also choose to trade with USD, EUR, GBP and RUB so you have pretty much covered all buying options.

When it comes to security levels, CEX.IO is considered as one of the most secure around due to the fact that they possess a PCI DSS certificate (Level 2) which basically means that they satisfy some pretty stringent security criteria when it comes to storage, processing, and the transmission of important data such as card details.

They also apply AML and KYC procedures and policies to their clients and offers two-factor authentication via Google Authentication, or via SMS/telephone call.


This is an Austrian crypto-brokerage service which allows customers from most EU countries to purchase Litecoin with a credit or debit card, Skrill or SEPA transfers.

For any individuals who are resident in the EU, the fact that you can pay via SEPA transfer is a big plus. The company is quite new in comparison to some of the other names on the list, and it was formed back in 2014, but it has since become one of the most trusted names in the market.

Whilst its exchange rate is a little higher than some other alternatives, its not the most expensive you will find.

BitPanda is also quite stringent when it comes to verifying your identity. If you are looking for an anonymous platform, then this is not the one for you as you need to submit and ID form and take part in a video chat verification in order to verify your account and secure a higher transaction limit.


Kraken is an excellent option for those that are interested in margin trading.

For those that are a little more experienced in the worlds of forex, or cryptocurrency trading, it is a fantastic option.

It was launched in 2011 and is now one of the largest Bitcoin trading platforms, but it also offers trading and exchange services for Litecoin, Monero, Ripple, and Ethereum.

You can purchase your coins via wire transfers, and it accepts fiat currencies such as USD, JPY, CAD, and GPB.


This is a cryptocurrency exchange that has become incredibly popular in Europe. This is because deposits can be made via SEPA with absolutely zero transaction fees.

Established in 2011, it is one of the longest standing and most reputable exchanges out there, and it is well known for its excellent security features including multisig technology and 2-factor authentication protocols.

Another bonus is the fact that most of the currency is stored in cold storage, meaning it is out of the reach of hackers.

For more details, visit our BitStamp review.

Is Litecoin a Good Investment?

Is Litecoin good investmentIt is no secret that cryptocurrencies are far from a sound investment.

The fact that they are decentralised means that they are volatile in nature and their value and future can be somewhat unpredictable.

That said, it seems that Litecoin is here to stay.

Trends show a steady but lucrative increase in its value, and the fact that it is considered as a better version of Bitcoin means that it is unlikely to go anywhere anytime soon.

For those who like the look of Bitcoin, but that missed the boat regarding accessibility, Litecoin is a superb alternative to a future that looks like it is going places.

Investing in Litecoin could be an excellent option for those looking for a better alternative to Bitcoin.

Litecoin is often forgotten or disregarded since it hasn’t introduced anything revolutionary, but thanks to that the price is less volatile.

If you need more information about what is Litecoin, check our article about the difference between Litecoin and Bitcoin or our Litecoin page.

Investors take notice of Litecoin as transaction rates surge

litecoinInvestors are taking notice of Litecoin in 2014. Litecoin the Silver of cryptocurrency is here to stay and the currency is ranked 2nd on coinmarketcap proving the coins as strong as ever in terms of available supply. The price of cryptocurrency has been quite erratic recently and we have seen some fairly dramatic drops. But lets put this in perspective. The price of Litecoin now is still almost 500% higher than it was 6 months ago. Bitcoin however is just a shade over 100% higher than its price 6 months ago. Transaction rates for Litecoin have also increased by over 100% since late 2013. This shows the strength, resilience and support for Litecoin.

I believe that there are still large profits to be made from LTC as it’s still early days. With the introduction of ASIC Mining Rigs later this year I believe that this will cause the price of Litecoins to increase in value. This is simply due to the fact that difficulty will go through the roof and all the remaining Litecoin GPU rigs will not be viable anymore. GPU rig miners will need to move to other lesser crypto currencies as LTC mining will no longer be profitable.

My advice for Litecoin supporters is that they should be patient and hold on to their coins as there will be a price surge for Litecoin in 2014. Just as we saw for Bitcoin in its younger days. Although it will be sad to say goodbye to Litecoin GPU Mining there are some exciting times ahead for the Silver Cryptocurrency.


Litecoin Price Prediction For 2018 (After LitePay Launch)

Last Wednesday, Valentine’s Day, Litecoin came up smelling of roses.

The cryptocurrency that is considered the silver standard to Bitcoin’s gold, sprouted a 34 percent uplift in a matter of hours to peak at $327.

The founder of Litecoin, Charlie Lee tweeted:

LTC has outperformed BTC” – [since he sold all his LTC].

Following a raft of positive news about the technology behind LTC tokens, the cryptocurrency community is anticipating a swathe of Litecoin price predictions for 2018.

So we’re chipping in ahead of the game.

One of the contributing factors influencing the Litecoin surge is attributed to the company’s release of LitePay – a new payment system for Litecoin which launched on 26th February.

LitePay Litecoin launched

The technology will allow users to buy and sell products anywhere Litecoin debit cards are accepted, or withdraw cash from compatible ATM’s.

Although not widely reported on just yet, when the news that Microsoft has announced its intention to use the Litecoin platform as a foundation for it decentralised identity system, LTC is expected to experience a bull run that could top Bitcoin’s momentous climb last year. Research analysts are already calling Litecoin a “game changer”.

“Litecoin users will be able to convert Litecoins to dollars and vice versa through their Visa-compatible LitePay cards, which will be usable at all ATMs or businesses that support Visa payments.”

– Palwasha Saaim, Lombardi Financial.

What Is Litecoin?

Why Litecoin is a good investment

Launched in 2011, Litecoin eradicated some of the flaws that are inherent in Bitcoin; Litecoin can facilitate financial transactions faster than Bitcoin at near-zero costs and will have four times as many coins than the leading cryptocurrency, capping at 84 million versus Bitcoin’s 21 million.

The fourfold increase in coin supply and the ability to process transactions four times quicker than the Mother Coin means Litecoin is set to become the first digital asset to break down the cash barriers and propel itself into the mainstream.

Litecoin is also tethered to the Lightning wallet – dubbed “Transactions for the Future.”

Just how close that future, remains to be seen, but the smart money says Litecoin will be adopted by mainstream retailers in the very near future. Probably this year.


Because the Lightning Network allows instant payments to be made over the blockchain and security is enforced by smart contracts. Litecoin technology is also equipped to handle billions of transactions per second at exceptionally low fees.

Considering the advantages Litecoins offers, experts expect LTC prices to rise exponentially in 2018.

Furthermore, as more retailers add Litecoin to the payment gateways, the number of developers taking an active interest in LTC tokens will also increase and make further improvements. This too will impact the value.

But how much is Litecoin predicted to rise in 2018?

Today’s Litecoin Value

Litecoin price prediction 2018

One of the more conservative Litecoin price predictions comes from

The market forecasting site predicts future values from technical analysis of the coin’s historical movement. At the time of writing, Litecoin is valued at US$225 which Walletinvestor claim will almost double to US$411.79 over the course of a year.

Other analysts are more optimistic.

There’s a lot of excitement surrounding Litecoin in the crypto space right now. Some cryptocurrency commentators are predicting LTC will topple the US$1000 mark.

The general consensus is that users will switch from Bitcoin to LTC because transactions are quicker and less expensive – and because LTC is currently undervalued.

For Litecoin prices to rise over $1000, crypto enthusiasts and investors will have to consider the feasibility of the technology in comparison with competing currencies that have comparable functionality – namely, Ripple (XRP) and Cardano (ADA).

Both rival coins are equal to, if not better than LTC.

It has to be said that Litecoin does have the potential to become a dominant digital currency, and because virtual tokens are limited in number, more than one currency will be adopted by retailers and payment gateways.

However, the value of digital currencies could still be negatively affected by financial institutions.

What Influence Do The Banks Have On Litecoin Prices?

The collapse of crypto prices in January was mostly due to pending regulations.

Banks in the US, UK, China and South Korea stunted trading on cryptocurrencies and governments are rolling out regulations. Litecoin’s price hike on the 14th coincided with reports that the South Korean government will do a u-turn on its ban.

South Korean officials had hinted they could follow China’s lead and outlaw virtual votes altogether.

However, Bloomberg reported policymakers would focus on making cryptocurrency trading more transparent and introduce regulations to fall in line with other financial and tax laws.

The natural question to ask is how much will financial regulations limit the growth of Litecoin and other cryptocurrencies.

Furthermore, how will government intervention conflict with the long-term view of wrestling the financial system away from the control of corrupt bankers and establishing a decentralised system?

Cryptocurrencies are not above regulation and installing financial controls on trading will actually stabilise a highly volatile market. However, before regulations are in place, market manipulators could run a pump and dump scheme to grossly inflate Litecoin prices.

The most sensible pricing structure we’ve seen for Litecoin comes from who predicts a steady increase with a 202% increase by the end of the year.

Hold on to your tokens though, because they could be worth a tidy sum of $US1459 towards the end of 2020.

It appears cryptocurrencies will survive yet another rocky patch and 2018 could be the year LTC becomes a household currency.

For more information, visit our article explaining Why Litecoin Is a Good Investment.

What are your Litecoin price predictions for 2018? Let us know in the comments box below!