Litecoin is a form of digital currency which is created and transferred electronically using encryption. Like Bitcoin, Litecoin’s transactions are recorded on a public ledger and new coins are created through a process known as “mining”. Litecoin is the second most popular cryptocurrency as of 2015 with one coin being worth about $1.50 USD.

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What is Litecoin?

Litecoin is very similar to Bitcoin, but has a few key differences as to how transactions are processed. The biggest differences however is the value, despite it being the second highest valued cryptocurrency the per coin value is about 1/200 of a Bitcoin.