Should You Invest In Litecoin?

Created by Charlie Lee, Litecoin was developed in 2011 with the purpose of acting as a ‘lite version of Bitcoin’. Litecoin shares many of the same properties as it’s predecessor, however in a smaller form, and focuses on simplicity and accessible user interface to reach a wider audience. As of August 2021, Litecoin, sold as LTC coins, is the second most-popular ‘pure’ cryptoasset on the market, behind Bitcoin. Litecoin are also one of the few cryptoassets to offer a wide range of fiat trading pairs e.g. LTCEUR, LTCGBP and LTCAUD. Litecoin is a decentralised, blockchain based cryptoasset, with over 2000 merchants accepting LTC coins across the world. As of January 2021, over 66 million LTC coins have been mined from a total supply of 84 million coins. In 2020, Litecoin released the ‘MimbleWimble’ testnet, a blockchain protocol allowing for a confidential transaction platform, with the use of a unique framework of security. MimbleWimble takes its name from a tongue tying curse in the Harry Potter universe, and they are hoping that this will greatly enhance fungibility and safety for it’s users once they roll it out to the mainnet. Chart the price of LTC and other cryptoassets with eToro.