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LiteCoin is probably the next-best known cryptocurrency, after Bitcoin. It also fittingly boasts the second largest market in crypto-currency. This alt-coin was developed by Charles Lee.


In December 2018, 1 LiteCoin was valued at about $24.81[1]


LiteCoin is introduced and verified much more quickly that Bitcoin. Verification for a Bitcoin transaction can take from ten minutes to several hours. On average, a LiteCoin transaction takes about two and a half minutes.[2]


LiteCoin is less well known than Bitcoin, so it may be accepted in fewer locations. Also for the same reason, there are fewer transfer nodes. This is believed by some to make the system less secure than Bitcoin.[3]