Litecoin (LTC): what you need to knowLitecoin (LTC): what you need to know

Litecoin is one of the oldest cryptocurrencies and launched in 2011 as a lighter variant of Bitcoin. The network is designed for fast and cheap payments, with a block time of around 2.5 minutes and a total supply of 84 million LTC. Litecoin is often described as 'the silver to Bitcoin's gold'.

Whitepaper: https://www.crypto-risk-metrics.com/wp-content/uploads/2025-04-22-White-paper-Litecoin-FFG-D74JZ1VRD.pdf

Litecoin uses a Proof-of-Work consensus, similar to Bitcoin, but with the Scrypt algorithm instead of SHA-256. Miners process transactions and secure the network by contributing computing power, and receive block rewards in LTC in return. The network produces blocks faster than Bitcoin, so transactions are usually confirmed more quickly.

• Ticker: LTC

• Category: Cryptocurrency / Payment Coin

• Blockchain: Litecoin

• Protocol: Proof of Work (Scrypt)

• Year of launch: 2011

Litecoin uses the Scrypt mining algorithm, which was originally more memory-intensive than SHA-256 and therefore made mining more accessible. The network was an early adopter of Segregated Witness (SegWit) and the Lightning Network, enabling faster and cheaper off-chain payments. In 2022, MimbleWimble Extension Blocks (MWEB) were added for optional privacy features.

The Litecoin ecosystem is focused on payments: LTC is supported by many exchanges, payment processors and crypto debit cards. The Litecoin Foundation promotes the use of Litecoin as a payment method and works with partners on integrations at merchants and fintech companies.

Litecoin launched in October 2011 by Charlie Lee, a former software engineer at Google and later at Coinbase. The code is a fork of Bitcoin with modified parameters. Today the project is supported by the Litecoin Foundation and an open-source community of developers.

BTC Direct has been the European entry point to crypto since 2013. We make buying Litecoin straightforward, even if it is your first time:

• Trusted in Europe. BTC Direct is registered with the Dutch Central Bank (DNB) and operates under MiCA, the EU regulation for crypto.

• Familiar payment methods. Pay with iDEAL, Bancontact, Sofort, SEPA bank transfer, credit card, PayPal or Apple Pay. Your LTC is on its way within minutes.

• Your coins, your control. We do not store your LTC. After your purchase, your coins are sent straight to your own wallet address.

• Based in the Netherlands, serving all of Europe. Our experts are based in the Netherlands and answer in your language across the SEPA zone. Need help? We are here.

• Start with a small amount. From just €30. The minimum varies per coin.

Ready to buy your first LTC?

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More questions about Litecoin or BTC Direct? Visit our help center for more answers.

For more technical information about Litecoin, visit the official website.

Cryptocurrencies, including Litecoin (LTC), are volatile and carry risks. The value of LTC can fluctuate greatly and investments can lead to financial losses. Always do your own research and only invest money that you are willing to lose.

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