Crypto Academy Week 9 - Homework Post for @yohan2on …

Good day to the steemit family, this is my first week in the crypto academy and I am already expering it's greater impact in me, all thanks to the crypto academy professors for their good works in impacting the knowledge of the crypto currency on us. Thanks to professor @yohan2on for clear lecture we had this week, "Looking beyond the Bitcoin part 1" . This is my presentation on the homework assigned to us after the lecture, it's going to be based of Litecoin as one of the altcoins. I hope you will enjoy it.

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Altcoins

I'll define altcoins in my own words as all other crypto currencies apart from Bitcoin. The are all setup to serve as an alternative to Bitcoin, because of this Bitcoin is usually referred to by many as "The mother of altcoins". All the altcoins are built on top of Bitcoin , they all have their pros and cons, some of these are Ethereum, litecoin, Dogecoin and many more, there are currently over 5000 altcoins and this my presentation is based on Litecoin as one of them.

Litecoin

Litecoin is one of over 5000 altcoins .It's setup was brained by an ex-google employee by name, Charlie Lee in 2011. It is a crypto currency which can be used to exchange with other crypto currencies.It is a blockchain based technology which uses the scrypt algorithm . Most individuals and institutions prefer trading with litecoin because it is  fast and cheap, with a transaction capacity of approximately 4.6 transactions per minute. As on 17th April 2021 1 Litecoin is approximately equivalent to $329.15 with market cap of $22.50Billion and 24hour trade volume of $16.14Billion, It is ranked 9the in the blockchain crypto currency index, there have been rise and fall in its price since it's setup. It's value is currently on the rise. It has a limit of of 84Million coins. It is powered by blockchain technology and uses an open source technology . One can get litecoin either by mining or trading which I'll talk about next in this presentation.

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How can one get litecoin?

You can buy litecoin through any of the exchange platforms that provides the LTC CFDs, example is finance.com . You will use those platforms to litecoin fiat.
Care should be taking during trading as there are risks involved.

Where Can One Trade LTC?

LTC can be traded in any of the LTC supportive platforms, such as binance.com , XTB , pepperstone etc.
One can also obtain LTC by mining, but this involves alot of expertise .

Conclusion

Litecoin market has been growing so fast as many people do trade on it due to it's fast transaction and affordability, it's network effects and many other factors. I think there is a good future awaiting lite coin, as it is one of those Cryptos with good suppoting communities and strong team

Thank you for reading. All regards to professor@yohan2on.

Cc:
@yohan2on

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