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Review on Litecoin by nef prodek
Litecoin
I had some contact with litecoin in last 5 years and I see it was improved so much in this time. I used it to pay for some internet services and in last year exchange to cash.
As a payment I think litecoin it's too slow, If a seller needs 6 confirmations it takes min. 12,5 minutes ( 6 blocks x 2,5 minutes), so it's not best for very speed txs or microtransactions like 0,001 $ for some very small activities/services/goods because it's fees are too big for that.
But it's fees are not too big to use it as everyday uses like payments 10/100/1000$.
It's also very good to use in Cryptocurrency ATM, it's surely better than BTC in that use because it's volatility is similar but transactions are much faster.
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Pros
- low transaction fees
- transactions are very fast confirmed in network
- it's easy to create LTC wallet, there are many
- there are many multicryptocurrency wallets that support LTC
- accepted in many exchanges
Cons
- not good for microtransactions
- no option to create tokens on LTC blockchain
