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| Symbol | LTCUSD |
| Name | Litecoin vs US Dollar |
| Quote Currency | USD |
| Trading Hours | 24/7 |
| Spread As Low as (Quote currency) | 0.95 |
| Commission | No |
| Contract Size (Per Lot) | 1 LTC |
| Minimum Contract Size (Lot) | 0.01 |
| Minimum Step Size (Lot) | 0.01 |
| Leverage Up To | 1:200 |
| Limit and Stop Level | 0 |
| Execution | Market |
| Trading Platform | MT5, Mobile App, WebTrader |
| Sector | Crypto |
ZERO Deposit Fees
Choose from multiple (15+) deposit options such as Skrill, Neteller, Visa/Mastercard, Crypto, Local Bank and others with zero fees.
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Trade CFD's (1000+) on a wide range of instruments including Forex, Shares, Commodities, Indices, Precious Metals, Cryptocurrency and Energy.
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In the diverse tapestry of cryptocurrencies, Litecoin has long held a prominent position. Often dubbed the “silver to Bitcoin’s gold,” Litecoin was one of the first altcoins, and its legacy continues to influence the crypto sector. As with many prominent cryptocurrencies, Litecoin also finds its place in the ever-evolving world of CFD trading. This post delves into Litecoin’s origins, its standout features, and its stature within the Contract for Difference (CFD) trading landscape.
Litecoin was conceived in 2011 by Charlie Lee, a former Google engineer.
As a fork of Bitcoin, Litecoin was envisioned as a “lighter” version of its predecessor, focusing on faster transaction times and a different hashing algorithm. Over the years, it has maintained its place in the top tier of cryptocurrencies, both in terms of market cap and adoption.
Faster Transaction Speeds
While Bitcoin processes a block every 10 minutes, Litecoin aims to do it in 2.5 minutes, resulting in quicker confirmations.
Scrypt Hashing Algorithm
Unlike Bitcoin's SHA-256, Litecoin utilizes the Scrypt algorithm. This difference originally made it more accessible to individual miners using consumer-grade hardware, though the rise of ASICs has shifted this landscape.
Higher Supply Limit
Litecoin has a maximum supply of 84 million coins, four times that of Bitcoin's 21 million.
Active Development and Upgrades
Litecoin's development community has been proactive in implementing upgrades, like the adoption of Segregated Witness (SegWit) and exploring technologies such as the Lightning Network.
The sustained prominence and inherent qualities of Litecoin have made it a staple within the CFD trading ecosystem. Here’s what CFD traders might find appealing:
Volatility and Liquidity: Being one of the senior cryptocurrencies, Litecoin often exhibits price volatility influenced by market news, adoption trends, and global crypto sentiments. This volatility, paired with good liquidity, can present trading opportunities.
Historical Performance: Litecoin’s track record can provide traders with ample data for technical analysis, making it easier to spot trends and patterns.
Mainstream Adoption: Litecoin’s widespread acceptance, from online merchants to physical stores, can influence its demand and subsequently, its price dynamics in the CFD market.
Litecoin, having walked alongside Bitcoin for a significant part of the crypto journey, encapsulates a blend of legacy, innovation, and consistent performance. It’s a testament to the evolution of digital currency, shaped by a vision to make transactions swifter and more efficient. For CFD traders, Litecoin offers a window into the broader crypto market’s movements, backed by a decade of resilience and adaptation.
Start trading LTC/USD crypto CFD now!
When trading LTC/USD crypto CFDs, you’re betting on price changes rather than acquiring the physical Litecoin. This allows for potential profits from both ascending and descending price movements without the need for a Litecoin wallet.
To commence, you’d choose a reliable broker offering LTC/USD crypto CFDs, such as Baxia Markets. Then you may sign up, deposit funds, and then begin trading using the platform.
Yes. The cryptocurrency market is known for its volatility, and LTC/USD isn’t exempted. Trading CFDs, especially with leverage, can lead to large gains or losses in a short duration.
Some traders believe in Litecoin’s technical merits, its longevity in the crypto sphere, or see it as silver to Bitcoin’s gold.
LTC/USD prices can be swayed by the overall sentiment in the cryptocurrency market, Litecoin-specific news, regulatory announcements, and broader economic factors.
Typically, the cryptocurrency market operates 24/7, but various brokers might have different trading hours. Here at Baxia Markets, we proudly provide our clients access to LTC/USD 24/7 for convenience.
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Risk Warning: Margin trading involves a high level of risk, and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Baxia Markets, and seek independent advice if necessary. Forex and CFDs are highly leveraged products which mean both gains and losses are magnified. You should only trade in these products if you fully understand the risks involved and can afford losses without adversely affecting your lifestyle (including the risk of losing the entirety of your initial investment). You must assess and consider them carefully before making any decision about using our products or services.
Baxia Global Limited is a company registered in Seychelles with registration number: 8426970-1, and is regulated by the Financial Services Authority of Seychelles with License number: SD104.
Baxia Limited is a company registered in The Bahamas with registration number: 177330 B, and is licensed and regulated by The Securities Commission of The Bahamas (SCB), (SIA-F234).
The information on this website is general in nature and doesn’t take into account your personal objectives, financial circumstances, or needs. It is not targeted at the general public of any specific country and is not intended for distribution to residents in any jurisdiction where that distribution would be unlawful or contravene regulatory requirements. Baxia Markets does not offer its services to residents of certain jurisdictions such as USA, Cuba, Sudan/Republic of Sudan, Syria, Iran, Iraq, South Sudan, Venezuela, Libya, Belarus, Afghanistan, Myanmar, Russia, Crimea, Donetsk, Luhansk, Palestine, Yemen, Zimbabwe and North Korea.