Litecoin is a cryptocurrency launched in late 2011 and it is one of the oldest cryptocurrencies in the market created by a computer scientist named Charlie Lee. Currently, this crypto is the 14th largest coin by market capitalization, with a total value of more than $12.3 billion. 

The amount of Litecoins that will ever be created is limited to approximately 84 million.
Both individuals and institutions can use Litecoin to purchase things and transfer funds between accounts. Participants can make transactions with Litecoin without the use of an intermediary such as a bank, credit card company, or payment processing service.

Litecoin uses peer-to-peer technology to send payments anywhere in the world in a very short period of time. The transaction speed is one of the most important traits of this crypto which is important for both customers and merchants, and one of the reasons Litecoin consistently ranks among the top 15 cryptocurrencies.

Is Litecoin Similar To Bitcoin?

As you may notice, Litecoin has a lot of similarities with Bitcoin:

• Both currencies originated more than a decade ago when the crypto era practically started. 
• Both are proof of work ecosystems which means that the process by which both cryptocurrencies are mined, authenticated, and then added to the blockchain is very similar.
• Both require digital storage also known as a "wallet" to be stored between transactions.

Also, as you can see from our infographic, LTC is worth $187 after its all-time high of $412. 96 reached on May 10th. And it’s far away from its lowest point of $1.11. The price of Litecoin is closely related to Bitcoin’s movement, due to its similarity.

We can say that Litecoin represents the lite version of Bitcoin. In fact, LTC is often referred to as crypto silver in the same way Bitcoin is being referred to as crypto gold.