Litecoin uses digital money(Silver) while Bitcoin uses digital money (Gold). Cryptocurrency of Litecoin is "Litoshi" While Cryptocurrency of Bitcoin is known as "Satoshi"
Litecoin is a type of digital money which uses a block chain to complete it's transaction by which it can easily maintain public ledger. To transfer funds between individuals and businesses, Litcoin is used and to do so that any type of intermediary like as bank and payment processing service. Only because of these features, Litcoin becomes more famous in current time.
It is the type of Cryptocurrency bitcoin which is in the market after Bitcoin and XRP, then it is called Litcoin. Litcoin has emerged as fifth largest Cryptocurrency in the all over world. It also work as other online payment systemsystem by which we can send money to another user in PayPal or any type of online Banking or we can send money very easily to another person.
Now a days, one Litecoin is equal to rs. 16,887.it's value is not fix it can be increased or decreased. It is at the 5th position in top Cryptocurrency in all over world.
Bitcoin is Virtual Currency like as different types of other currency(rupee, dollar etc). Similarly, Bitcoin is also a type of digital currency but it is different from other currency because neither we can see it nor touch it. Only we can store it in online wallet. Bitcoin is decentralized currency that means there is no bank or government or any type of authority to control it that means no one is the owner of this money. Anybody can use the Bitcoin. Bitcoin is just like internet that whomever want to use it, can use Bitcoin.
In current time, a Bitcoin's value is approximately $999 it means that it is equal to Rs. 65,000.But it's value is not fix it can be increased or decreased. Because of it has no authority, so it's value can be changed according to the demand.
There are basically three ways to earn Bitcoins which are as follows:
And those miners have high performance computer and GPU and they verify all the transactions through
it. They verify whether the transactions are true or not, and there has not been any fraud in that. In
exchange for this verification, they get some bitcoins and in this way new bitcoins come in the market.
Anyone can do this, a computer with a high speed processor is needed, which is not in everyone's
budget to buy.