Litecoin: the lite version of Bitcoin
Ever heard of Charlie Lee? No? We don’t blame you. He is an interesting character, though. Not only was he a former Google engineer, but he’s actually the man behind Litecoin. Or, as he announced it in 2011: the “lite version of Bitcoin”. Why? Because Charlie Lee, and a few like-minded fellas, believed that Bitcoin could be better. He aimed to improve Bitcoins shortcomings, and with his Scrypt algorithm, some would say he did what he set out to do.
But in all fairness: the two are quite alike. Even though Bitcoin has been around a bit longer (founded in 2009), Litecoin is one of its main competitors. Why? Because Litecoin isn’t as light as its name would make you think. It can produce a (way) more significant number of coins than its big (step)brother Bitcoin can and has a faster transaction speed.
What does this fast transaction speed do for you? Simple: it’s a handy form of digital money. You can buy that antique Chesterfield sofa you’ve had your eye on for years or make a quick transfer to your buddy’s account to pay off that yacht-loan (a man should dream, shouldn’t he?).
The reason you should (or could) love Litecoin is that it travels light. It’s quick, cheap and incredibly handy for everyday transactions. There are no banks or credit card companies in the middle of your transaction — which means your digital bucks will reach their final destination in no time.
Ready for another interesting fact? As of January 2021, Litecoin had a per token value of $153.88. Making it the sixth-largest cryptocurrency worldwide.
Not too shabby, eh?
About BOTS
BOTS is a tech company that has developed an app that makes it possible for anyone to invest from €50. BOTS uses automated trading strategies so you can invest in cryptocurrency quickly and even without knowledge. Previously, these strategies were only accessible to the richest 3% of the world. BOTS now makes automated investing accessible to everyone. In 2021, it will also be possible to invest in stocks and other currencies through BOTS. The app is free to download and quick and easy to install. BOTS currently operates in more than 15 countries and by the end of the year, BOTS wants to be active in at least 60 countries and 4 continents.
Need any help with anything?
If you still have questions about the BOTS app, please do not hesitate to contact the BOTS support department.
On the BOTS YouTube channel you can find other instructional videos that may help you further. You are also welcome on the Discord channel of BOTS.
The BOTS app is now live
Download the BOTS app on your mobile phone today! For Android click here, for Apple click here.
There is no such thing as risk-free trading. It is possible to lose (part of) your stake.
