What is Litecoin? How to buy Litecoin with cash

How do I mine Litecoin?

Litecoin uses specialized mining hardware called an Application Specific Integrated Circuit (ASIC) to make the verification process more efficient. Unfortunately, the days of easy mining are long gone. Mining success depends largely on your mining equipment. Due to the fierce competition for verification transactions on the Litecoin network, large companies with deep pockets have grouped together to improve their chances of receiving large rewards. Note: Cryptocurrency trading, purchasing and mining are prohibited in mainland China.

What is Litecoin?

Litecoin was created in 2011 by Charlie Lee, a former Google employee, and operates as a "lite version of Bitcoin". Litecoin is a digital currency designed to provide a fast, secure and low-cost way to make digital payments. While Litecoin is closely related to the Bitcoin network, the former uses the Scrypt program, which uses less energy to verify transactions.

How do I buy Litecoin with cash?

You can buy Litecoin with your local currency, such as using cash to buy Litecoin on peer-to-peer platforms such as LocalBitcoins. After registering on the platform, you will need to choose to pay in cash. This way, the platform will only show local merchants that accept cash for Litecoin purchases. In addition, you can also use cash to buy Litecoin at cryptocurrency ATMs. Note: Cryptocurrency trading, buying and mining are prohibited in mainland China.