The main objective and motivation in Litecoin creation was to improve Bitcoin itself, which was practically achieved. Litecoin is built on the same foundations as Bitcoin; however, some major differences increase its attractiveness.
As well as Bitcoin, Litecoin uses a peer-to-peer payment network; that involves only direct network subscribers without third parties. It is also decentralized currency without any central authorities, and is transparent due to the blockchain. The number of Litecoins is limited, the network is scheduled to produce 84 million Litecoins, therefore it is considered as a deflationary currency.
How to store your Bitcoins?
You can use a huge number of wallets to store your Bitcoins. Simple mobile, web or computer wallets in the form of applications are available on the market. However, these are vulnerable to viruses and malware. The safest way to store your Bitcoins is in a so-called hardware wallet (Trezor or Ledger), that encrypts access to your wallet.
Cryptolabs recommends the following digital wallets:
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- We do not guarantee any profit from trading or any other activity associated with the website cryptolabs.sk. Due to risks mentioned above, and those not listed, you should consider whether the digital currency is the right choice for you depending on your financial circumstances.
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The above price is only informative, valid at this moment and does not include any fees that are charged. We will confirm the exact rate after receiving the payment, then you can choose whether or not you agree with the exchange rate. Otherwise, you will be refunded the full amount.