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Litecoin – LTC – Price in Indian Rupees
Litecoin (LTC) Price chart and value in INR
Here is the trend chart of Litecoin (LTC) and it’s cost/value in Indian Rupees(INR)
- The chart shows Litecoin (LTC) prices in Indian Rupees
- You will be able to see the trend of Litecoin over the past 24 hours, 1 week, 1 month, 3 months, 6 months, 1 year and from the time Litecoin coins was introduced
- You will also be able to compare the price of Bitcoins versus Litecoin (LTC) another popular crypto currency
- The charts are updated every 3 hours
What is litecoin?
It is a peer-to-peer internet currency that is a fully decentralized, open-source, global payment network. Litecoin is an updated version of bitcoin. It was designed by an MIT graduate and former Google engineer Charlie Lee. Lite coin creates new blocks every 2.5 minutes, which means it can produce 4x as many blocks as Bitcoin.
Litecoin is among the top 5 cryptocurrencies. It gets additional value from being so closely tied to Bitcoins. Litecoins is also referred to as Digital silver to bitcoin’s digital gold narrative. It uses scrypt algorithm that consumes a lot of memory. Scrypt was specially designed to hinder the type of devices to extract Litecoin.
Advantages of Litecoin
- Because of scrypt protocol miners that use hardware to run bitcoin network cannot easily switch. It generates 4 times faster blocks than bitcoin which confirms the faster transaction than Bitcoin. Bitcoin transaction might even take an hour.
- Litecoin ranks among the top five currencies, although Bitcoin is first in the race. These ranks can change on the basis of price and the number of coins in the circle.
- Bitcoin has a coin limitation of 21 million, one of the reasons why some cryptocurrency has high value. It is because of this limited supply. While Litecoin has 84 million coins.
- The fast processor and more number of coins make it more usable. Litecoin takes 10 seconds to transfer 20-23 coins at a time which makes it notably fast. This has lead businesses to focus on the advancement of litecoin.
- Integration of lightning network allows participants to exchange currency virtually at no cost. Its low volatility makes it a useful option for businesses. It has retail purchase, exchanges, wallets and other options in its infrastructure.
- The price of litecoin is consistent and has low volatility compared to Bitcoins. Hence, these are less risky as prices don’t increase or decrease dramatically like Bitcoin which makes it a trustable option for investors investing in Litecoin.
Mining Litecoin
To mine Litecoin at home:
- Set up a private wallet where you can securely store your LTC.
- Choose the right hardware available for mining Litecoins. Also, consider the cost of power and adequate ventilation when organising your setup.
- If you are mining using an ASIC miner, there might a pre-installed mining software. In case you are using a graphics card, you have to download and install free software, make sure to use safe and genuine from a trusted website.
- Follow the instruction in your software package to start mining. Monitor the performance and the price of Litecoin regularly to ensure profitable minings.
To mine Lite using pool:
- Choose a Lite coin wallet that has the right features and security protections.
- Select the hardware you will use to mine LTC, like ASIC or GPU mining.
- Most ASIC miners come with pre-installed miners, else download and install from a trusted website.
- Compare the features available in Litecoin mining pools.
- start mining and move rewards to a secure wallet. Regulate the cost of mining to ensure your operation remains cost-effective.
Other Bitcoin and Crypto currency tools
1.) You can use our Bitcoin Calculator to calculate the value of your crypto currency investments in INR
2.) Check the value of crypto currencies in Indian Rupees
3.) Use our Cryptocurrency Converter tool to find exchange value of one crypto currency to another
Other questions on the Litecoin calculator
Yes, it is now legal. The Supreme court of India in its ruling in early 2020 made it possible for Indians to buy/own Litecoins. Till then it was deemed illegal.
The value of a cryptocurrency is determined by its supply. As such, with day-to-day trade and imbalance in supply and demand, the value of cryptocurrency too will increase or decrease drastically. Another reason is it’s perceived value to fiat currencies.
There are over 7000 currencies spread across 300 exchanges in the world. Our tool supports over 5000 of the publicly available cryptocurrencies 0 0 vote.
Yes, Litecoin is considered to be a good investment in the long term as the price of Litecoin is expected to rise up to $219 in 11 months as predicted by the Walletinvestor forecasters
Depending on the range of factors, like the cost of power, software, hardware, etc you are using the profitability can vary from person to person. Use an online mining profitability calculator to calculate the total costs of mining and your gains.
Litecoin is considered to be safe just like any other cryptocurrency with the advancement in technical aspects and fundamental strength. But there are risks associated with it as price change is frequent compared to stocks.
As Litecoin has already started off strong in the year 2021, putting up a new high over the 2020 peak. A cryptocurrency firm has researched that Litecoin will reach a value of $35,000 by 2025, and $7,250 by 2030. Hence, it predicts the long term survival of this cryptocurrency.
