Litecoin is the 3rd most well known cryptocurrency behind Ethereum and Bitcoin. This cryptocurrency was designed to be a Bitcoin alternative that would improve on some of its weaknesses. It differs from Bitcoin in elements such as block production speed, as it is four times faster than Bitcoin. Litecoin is easier to access and processes transactions faster. It is the cheapest of three cryptocurrencies available to trade on GDAX (Other two are Bitcoin and Ethereum), with tokens trading under $100 at the moment.
Litecoin was started with the purpose to be the “silver” to Bitcoin’s “gold”. It is an online currency, a worldwide payment system, and fully opensource. It is one of the best cryptocurrencies in terms of liquidity and trade volume.
Litecoin is one of the best cryptocurrencies to swing trade and day trade because of its great range and liquidity. We have been trading it almost on a daily basis of late. Cryptocurrencies are an incredible new frontier in the financial markets. To prepare yourself to capitalize on this exciting new opportunity, check out our Cryptocurrency Trading Chatroom.