[[ data.name ]]
[[ data.ticker ]]
[[ data.price ]] [[ data.change ]] ([[ data.changePercent ]]%)
Low: [[ data.low ]]
High: [[ data.high ]]
[[ data.bid ]] [[ data.spreadText ]] Buy
[[ data.ask ]]
Differences between Investing vs Trading
Differences between Investing vs Trading
Litecoin is one of the most valuable altcoins in the cryptocurrency space. It was also one of the first altcoins, established in October 2011. The inspiration behind the creation of Litecoin was to develop a “lite version” of Bitcoin, which emerged two years earlier. It was the brainchild of former Google employee, Charlie Lee, who believed Bitcoin’s mining requirements was creating a monopoly for miners that could afford to invest in expensive, high-powered GPUs. In doing so, Bitcoin’s critics feared the cryptocurrency was inching closer to centralisation – the very antithesis of cryptocurrency.
Litecoin is effectively a hard fork of the Bitcoin Core blockchain, with enhanced measures designed to improve the scalability of Litecoin. This includes faster block generation times of two-and-a-half minutes, an increased supply of Litecoin (LTC) and an alternative hashing algorithm that’s not overly reliant on GPUs.
Many in the cryptocurrency community consider Litecoin to be the ‘digital silver’ to Bitcoin’s ‘digital gold’. Today, Litecoin is in the top 20 most valuable cryptocurrencies by market capitalisation.
In terms of Litecoin’s all-time value, it rose some 1,449% in the first 11 years of its existence. Like many cryptocurrencies, the Litecoin price has fluctuated wildly through the years. Its all-time price chart resembles something like a roller-coaster ride.
During the ‘boom’ era for cryptocurrencies in 2017, Litecoin’s value surged to a high of $230.33 per LTC before falling to $19 per LTC by December 2018. The Covid-19 pandemic encouraged further speculation on the price of Litecoin, spiking to all-time highs of $248.82 per LTC in May 2021. Once again, its value fell fast soon after, with Litecoin in a price range of $40-$60 per LTC during H2 2022. Market forces of supply and demand keep LTC much cheaper than Bitcoin, as there is the potential for four times as many LTC to be in circulation than BTC.
Litecoin is an agile cryptocurrency suitable for paying for a host of digital services, but the volatility of Litecoin’s value means that you can never guarantee what your LTC will pay for from month-to-month.
By trading the price of Litecoin, you’re able to profit even if the value of LTC falls. With cryptocurrency CFD, you can take short (sell) positions on crypto assets like Litecoin as well as long (buy) positions. With a short position on Litecoin, you’ll profit so long as the price of LTC moves below your entry position. When you trade volatile crypto assets like Litecoin, it’s possible to use risk management tools to set stop-loss and take-profit orders to limit your losses too.
|Swap long||[[ data.swapLong ]] points|
|Swap short||[[ data.swapShort ]] points|
|Spread min||[[ data.stats.minSpread ]]|
|Spread avg||[[ data.stats.avgSpread ]]|
|Min contract size||[[ data.minVolume ]]|
|Min step size||[[ data.stepVolume ]]|
|Commission and Swap||Commission and Swap|
|Trading Hours||Trading Hours|
* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and without capital restrictions that come with buying the underlying crypto asset.