Litecoin is one of the top five most viable digital currencies other than bitcoin.
It is an altcoin or a bitcoin alternative, and it is the second largest altcoin. Litecoin has a faster confirmation time and it also has four times as many currency units than bitcoin.
Litecoin is electronically produced using cryptographic software and it is electronically stored in litecoin wallets that have a unique numeric and alphabetic digital code. It is an open source peer-to-peer digital currency and litecoin digital transactions such as buying, selling and spending litecoin are recorded on blockchains. Blockchains are electronic ledgers of digital money transactions and these digital transactions are open to public view. Crypto currency exchange sites are also peer-to-peer networks and they adhere to the same digital protocols.
Litecoin is internet money.
You can buy and sell litecoin at crypto currency exchange sites, make payments and shop at litecoin accepted merchant sites. Convert litecoin to cash at litecoin accepted crypto currency exchange sites and withdraw using wire bank transfer and payment processors.
