What is Litecoin, what is its value, origin and mining.
What is Litecoin?
Litecoin is a virtual digital currency that does not exist in our real life. It is a fictitious virtual currency. This currency comes in second place in the field of digital currencies after the bitcoin currency. It was called the silver currency because, as we said, it comes in second place after Bitcoin, the first digital currency in the world, which is the currency The main reason for the existence of this currency in the second place is that it has the same principle as Bitcoin in terms of the volume and value of global investments in the cryptocurrency market. This currency was officially announced in the year 2011, only two years after the launch of the Bitcoin currency. The currency as a result of the success of the Bitcoin currency. The founder of this currency is an American person who was working for Google. This currency followed in the footsteps of its counterpart, the Bitcoin currency, where it met with great success, but this currency did not reach the level of the Bitcoin currency.
How to get Litecoin:
The basic principle of obtaining this currency is the same as the principle of bitcoin, which is mining. The method of collecting this currency is deliberately on graphic cards called (AMD), which is the main thing in obtaining this digital currency, where the principle of work of these cards comes in decoding complex and encrypted codes to facilitate the process of obtaining this currency. The (Litoshi), which is a small unit of Litecoin, and this unit is equal to 0.00000001 Litecoin, which miners exchange these units for Litecoin through investment companies in the field of cryptocurrency.
Litecoin exchange rate:
When this currency was officially launched, its price was estimated at about $2 per currency, and this is a good indicator for a new currency, as the price of this currency remained between these limits between two and three dollars per currency until 2017, when in this year the Litecoin currency witnessed a significant improvement as The exchange rate of this digital currency reached 48 dollars per currency, after which it continued between rise and fall due to the result of supply and demand in the digital currency market, but it went back up again, reaching about 65 dollars per currency, and then rose significantly in the middle of 2021 Where it crossed the barrier of $ 200 per currency.
How to trade Litecoin:
It is known that all digital currencies have a well-known method of trading, and Litecoin, the silver currency, is the method of its circulation, such as the method of trading Bitcoin, which is through electronic currency exchange (CFD) platforms. As for the opportunity to obtain it, it is considered a currency with a great future in the footsteps of the most famous Bitcoin Around the world, miners can store this currency in a wallet (Blockchain), which is the most famous electronic wallet known in the field of digital currency trading and preservation. coming.
In this article, we provided you with an explanation of the Litecoin currency, what it is and when this currency originated, how much it is worth, and how it is traded and obtained. I hope you like the explanation.