Steemit Crypto Academy | Season 2: Altcoins – Part1 "Looking beyond the Bitcoin" | Homework task for @yohan2on

Today I'm going to make my Steemit Crypto Academy Homework task by professor @yohan2on that talking about Altcoins – Part1 "Looking beyond the Bitcoin. Very interesting lessons. Actually I have very little knowledge about this, but I will try to discuss it to improve my writing skills. On this occasion I will try to discuss about Altcoins one of the three list namely Litecoin (LTC).

Altcoins

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The presence of Altcoins is to perfect all things related to cryptocurrency. Since the emergence of Bitcoin as the first and successful digital coin, many people have continued to think and want to innovate with new things. Of course, it will give a new color to the existing digital coins. With the lure of being an alternative to Bitcoin, Altcoins are believed to be an alternative where people will choose to own Bitcoin or Altcoin or even own both. This will make it easier for you and investors to own assets that can make a profit in the crypto world.

Altcoins are made with a more competitive advantage than Bitcoin. As an alternative to Bitcoin, of course, new features and things that are not available with Bitcoin are the main projects created and considered by the Altcoins provider. Although Altcoins is built on the basic framework of Bitcoin, Altcoins offers an easier and more efficient transaction process in the crypto market.

Altcoins are also very numerous and varied. Each type of Altcoins has different characteristics. This is what makes Altcoins an alternative to the shortcomings that exist in Bitcoins. Altcoins providers have reviewed everything that is related and will present the advantages of Altcoins which are to attract you and investors to have this digital coin as your asset besides Bitcoin.

Litecoin (LTC)

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Litecoin (LTC) is a cryptocurrency that is almost the same as Bitcoin (BTC). Many people say Bitcoin is gold and Litecoin is silver. This shows that Litecoin has a price and quality level slightly below Bitcoin. Litcoin uses the same protocol as Bitcoin, but is on a different blockchain. The main difference between these two cryptocurrencies lies in the process and price. Where Litecoin has a cheaper price and the transaction process that occurs is faster than Bitcoin.

Speaking of Litecoin as an alternative to Bitcoin, an MIT graduate and former Google employee, Charlie Lee has been working to innovate and develop Bitcoin to a faster, cheaper and lighter version. It is hoped that Litecoin will be able to solve several existing problems such as price and transaction times. This can help you and investors to consider Altcoins to be an asset that is worth to invest and able to bring profits in the future besides bitcoin.

Difference of Litecoin (LTC) & Bitcoin (BTC)

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• Time
  The time it takes to process a single transaction on Litecoin is around 2.5 minutes, while Bitcoin is 10 minutes. This will help users to perform multiple transactions in a short period of time.
• Price
  The price of Litecoin is still cheaper than Bitcoin. This will help small scale crypto miners to acquire this asset and get profits.
• Number of coins
  The maximum number of Litecoin created is 84 million coins while Bitcoin is only 21 million coins. This will help you and investors to more easily get these coins.

Get Litecoin (LTC)

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Coinbase is one of the largest cryptocurrency exchanges in the world. By using this platform I can get various kinds of cryptocurrency that I want by exchanging the cryptocurrency that I own or buying it with fiat currency. In this case I made a Bitcoin to Litecoin exchange. I can buy Litecoin with a conversion that matches the Bitcoin I sell. All processes are carried out according to procedures and safe. Of course, relying on a platform like this will make it easier for me and you to exchange and trade cryptocurrencies to bring profit in the future.

I get Litecoin (LTC) by exchanging my own Bitcoin (BTC). I did this to try new things and not only based on one cryptocurrency. I exchange it on a small scale to reduce the risk of loss and increase profit even a little. I am interested in Litecoin. I see Litecoin in the top 10 cryptocurrency list on CoinMarketCap. This shows that Litecoin has a positive trend and a potential coin in the crypto world.

Thank you for reading my blog, hope it will be useful for all of you.

CC:
@yohan2on
@steemcurator02