Litecoin has established itself as the leading competitor to Bitcoin, and now you can trade this exciting digital currency with My Bit Finance. When you trade Litecoin with My Bit Finance you can trade long or short (buy or sell) instantly, so you can act on your analysis whether you’re optimistic or cynical about the future of digital currencies.
Trade with the licensed and award-winning forex broker. Open an account today and enjoy features and benefits that My Bit Finance has to offer.
An open source internet currency that allows for instant, near zero cost peer-to-peer payments across the world. The Litecoin blockchain is capable of handling higher transaction volumes unlike its forefather the Bitcoin.
This would be fairly due to it’s a more frequent block generation where the network supports more transaction without a need to modify any future software. As a result, merchants gain faster payment confirmations.
Electronic mining of Litecoins currently allocates miners 50 new Litecoins per block, of which this amount is halved every 4 years or approximately every 840,000 blocks. The network for the Litecoin is set to produce 84 million Litecoins which sums up to 4 times the amount of bitcoin units.
The distribution of Litecoins is done by wallet encryption, that secures the safety of the coins as well as allows you to view your transactions.
As allow you to speculate on the price of Litecoin future market movements, without physically owning the coin. Traders whether buying or selling are able to agree to pay on the difference on the price even if it rises or falls. In addition, they can to tap into the benefits and risks without actually owning the coin and benefit from:
Litecoin is a peer-to-peer, decentralised digital currency (also known as a cryptocurrency) based on the Bitcoin system. The creators of Litecoin sought to adapt the Bitcoin model to develop a more stable and efficient currency.
There are several key differences between Bitcoin (and its spin-offs Bitcoin Cash and Bitcoin Gold) and Litecoin, including the way coins are “mined”, security procedures, and the total number of coins destined to be produced.
In 2013 Litecoin’s value rocketed from less than $0.01 to more than $20. Could Litecoin follow Bitcoin’s lead and keep on rising in value? With My Bit Finance you can enter and exit the markets, with our speedy execution and leveraged positions. Practice on our 21-day demo account and feel your way through trading Litecoins and getting to know your way around our platforms.
When trading with My Bit Finance you are trading on the price changes of the digital coin, and not physically purchasing it.
The maximum accumulated position size for Litecoin is $200,000 notional value, details in our Conditions and Charges page.