Bitcoin Vs Litecoin, Head to Head Comparison

Cryptocurrencies have been turning the global economy. We all know, Bitcoin is the most popular Cryptocurrency and day by day, a number of new Cryptocurrencies come into existence. Statistics say that almost 1,600 Cryptos are in existence. Among them some of the notable Coins are Ethereum, LiteCoin, Ripple, BNB, etc, We can’t say, these coins will be the perfect alternative for Bitcoins as Cryptocurrency market is capricious one.
In this article, we are going to differentiate Bitcoin and Litecoin
What is Bitcoin?
Bitcoin is the decentralized digital currency without central authority and all the transactions are stored in a public ledger, BlockChain.
It is released in the year, 2008 by the anonymous group of people or person named Satoshi Nakamoto, and the receiver of first bitcoin was cypherpunk Hal Finney who received the first ten Bitcoins from Nakamoto.
What is Litecoin?
Litecoin is the digital form of currency founded by Charlie Lee in the year 201l like bitcoin, it does not have any central authority monitor it. One can transact Litecoin Peer to Peer.
Let’s have a look at how they differ,
Ideal Purpose
Bitcoin is a popular digital currency, whereas lite coin is the alternative for bitcoin.
Transaction time
Bitcoin takes 10 minute transaction time whereas Lite coin takes 2.5 minutes for transaction.
Proof of Work Algorithm
Bitcoin uses the SHA-256 algorithm for mining and Litecoin uses scrypt algorithm for the mining process.
Coin Limit
The total limit for Bitcoin is 21 million and the overall limit for litecoin is 84 million.
Price of Coin
Now, the price of Bitcoin is 9,600 USD and the price of Litecoin is 72 USD.
When compare Bitcoin with Litecoin, Bitcoin lags in factors such as transaction time and coin limit but the price of the bitcoin is much much higher than Litecoin. In the future, Litecoin would also get a significant place in the crypto market.
Every trader has unique needs and purposes, based on their own wish they can buy Litecoin or Bitcoin but all they need is a Secured Cryptocurrency Trading Platform.
I prefer GloboCrypt, which is the popular Peer to Peer Cryptocurrency Exchange Platform that supports cryptocurrencies such as Bitcoin, Litecoin and Ethereum.

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