free-litecoin.com Open in urlscan Pro
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Submitted URL: http://free-litecoin.com/
Effective URL: https://free-litecoin.com/login
Submission: On November 17 via api from US — Scanned from DE

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POST

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    <p class="text-center"><a href="https://www.litevault.net/" target="_blank">Create a litecoin address?</a>
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Text Content

FORGOT YOUR PASSWORD?

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TERMS OF SERVICE

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INTEREST

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WHAT IS LITECOIN?

Litecoin is a peer-to-peer cryptocurrency in many regards similar to Bitcoin.
Coins are created and transferred using an open source cryptographic protocol
and are not managed by any central authority. Thanks to the adoption of
Segregated Witness, and the Lightning Network, Litecoin has some technical
advantages over Bitcoin and other major cryptocurrencies. It is capable of
handling a greater number of transactions in a given time and thus reducing
potential bottlenecks, as seen with Bitcoin. Also, payment cost of Litecoin is
nearly zero and it’s payment speed is approximately four times faster than
Bitcoin.




HISTORY?

Litecoin was released via an open-source client on GitHub on October 7, 2011 by
Charlie Lee, a former Google employee. The Litecoin network went live on October
13, 2011. It was a fork of the Bitcoin Core client, differing primarily by
having a decreased block generation time (2.5 minutes), increased maximum number
of coins, different hashing algorithm (scrypt, instead of SHA-256), and a
slightly modified GUI. During the month of November 2013, the aggregate value of
Litecoin experienced massive growth which included a 100% leap within 24 hours.
Litecoin reached a $1 billion market capitalization in November 2013


HOW LITECOIN IS MADE?

Like all cryptocurrencies, Litecoin is not issued by a government, which
historically has been the only entity that society trusts to issue money.
Instead of being regulated by a Federal Reserve and coming off a press at the
Bureau of Engraving and Printing, Litecoin’s are created by the elaborate
procedure called mining, which consists of processing a list of Litecoin
transactions. Unlike traditional currencies, the supply of Litecoin’s is fixed.
There will ultimately be only 84 million Litecoin’s in circulation and not one
more. Every 2.5 minutes (as opposed to 10 minutes for bitcoin) , the Litecoin
network generates, what is called a block—a ledger entry of recent Litecoin
transactions throughout the world. And here is where Litecoin’s inherent value
derives.

Read more: What Is Litecoin And How Does It Work?


MINING FOR LITECOIN?

The incentive for mining is that the first miner to successfully verify a block
is rewarded with 50 Litecoin’s. The number of Litecoin’s awarded for such a task
reduces with time. In October of 2015 it will be halved, and the halving will
continue at regular intervals until the 84,000,000th Litecoin is mined. But
could one unscrupulous miner change the block, enabling the same Litecoin’s to
be spent twice? No. The scam would be detected immediately by some other miner,
anonymous to the first. The only way to truly game the system would be to get a
majority of miners to agree to process the false transaction, which is
practically impossible.

Read more: What Is Litecoin And How Does It Work?


STORING YOUR LITECOIN?

Storing your Litecoin. If you want to buy Litecoin or you already have some
Litecoin you have to find some safe place where you will put your Litecoin. You
have a lot of option’s. It depends on your idea of what you want done with your
Litecoin. Most common option is putting your Litecoin into a software wallet.
This option is relatively safe but not very practical. Second most common
variant is to put your Litecoin in to some cryptocurrency stock, where your
Litecoin is not secured as it would be in a software wallet. But, you have more
options on what you can do with your Litecoin. You can sell your Litecoin. You
can buy more Litecoin. You can exchange your Litecoin. Or, you can lend your
Litecoin and make some profit off of them. it only depends on you. Newest way to
storing your Litecoin, is to put your Litecoin into a hardware wallet. Be
careful, because there are differences between hardware and software wallets. In
a hardware wallet, your Litecoin is absolutely safe. No one could steal your
Litecoin unless you lost your hardware wallet. Hardware wallets are
technologically similar to a flash drive. If you damage or destroy this hardware
wallet you will lose all of your Litecoin. Be careful as this option is not
practical. If your main concern is to gain more Litecoin, we recommend you store
it on your account here because you will earn yearly interest of 6%. But it only
depends on what type of variant is best for you.


DIFFERENT BETWEEN LITECOIN AND BITCOIN?

Litecoin transaction fee’s are mere cents compared to bitcoin transaction fee’s
that can cost dollars. Litecoin has a faster network. Transaction’s are much
faster than they are in the bitcoin network. An Average Litecoin transaction
takes 2 minutes. An average bitcoin transaction take’s 10 minutes on a good day.
Total amount of bitcoin is 21 million coin. Litecoin has 84 million coins.
Litecoin also uses a different algorithm. Bitcoin use’s Bitcoin’s SHA-256.
Litecoin use Litecoin’s Scrypt.


THE BOTTOM LINE?

Once a currency reaches a critical mass of users who are confident that the
currency is indeed what it represents and probably won’t lose its value, it can
sustain itself as a method of payment. Litecoin isn’t anywhere near universally
accepted, as even its own founders admit that it has fewer than 100,000 users.
(Even bitcoin probably has less than half a million total users.) But as
cryptocurrencies become more readily accepted and their values stabilize, one or
two of them—possibly including Litecoin—will emerge as the coin(s) of the
digital realm.

Read more: What Is Litecoin And How Does It Work?


ANY QUESTIONS OR PROBLEMS?

If you encounter any problems, you can contact us on this mail address
info@free-litecoin.com


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