In this video I’ll be taking a look at litecoin which is a global decentralized cryptocurrency that is based upon block chain technology
like many of the others. It is very well known. It’s traded at most large exchanges and certainly
won’t have any trouble finding that it’s a peer to peer internet currency. It’s almost free to trade. It’s pretty cheap it’s open source it’s a
global payment and can be used in various instances. It has a pretty good community here it has
the forums the Reddit I.R.S. free node etc.. It also has very extensive like coin wiki
and the like coin bit export charts are freely available it shows you up to date networks
dads and the like. For those of you who are more on the programming
side GitHub has a repository for it. It is as I said a block chain but it is a
little bit quicker than bitcoin it has the ability to generate more transactions without
having to modify the software it’s quicker version of bitcoin if you will because of
that it has the encrypted wallet like you see with so many others and the mining rewards
is twenty five new light coins per block about every if it gets halved every four years or
so every eight hundred forty thousand blocks and so on schedule to produce eighty four
million light coins which is four times as much as Bitcoin. You can download it on various sources. And like I said it is easily accessible. This is the most recent chart we’ve seen a
lot of volatility in the crypto currencies in general but like going to be finding a
base here it’s much cheaper than mint going as you can see right now as I record this
is about fifty one dollars. That being said it does tend to move in lockstep
with the other crypto currencies especially when there are big moves. But it is a little bit more stable than some
of the other ones because of the volume traded. So with that it tends to be very reachable
for newer traders because of the cost involved. And of course the stability than some of the
more exotic crypto currencies it’s available in the U.S. dollar but you can also trade
it against the euro as you can see and even other crypto currencies such as Bitcoin. You can see how it trades against Bitcoin. So it’s a good one to start out with because
of the accessibility and the ease and the massive amounts of information out there on
the Internet.