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Litecoin, also known as LTC, is a type of digital money that you can use to buy things online or send money to people anywhere in the world. It was created in 2011 by a person named Charlie Lee.
Think of Litecoin like a digital version of regular money, but instead of using paper bills or coins, you use a computer or phone to send and receive it. One of the benefits of Litecoin is that it can be processed faster and with lower fees than other digital currencies like Bitcoin.
Litecoin is decentralized, which means that it is not controlled by any government or company. Instead, it operates on a system called blockchain, which is a fancy way of saying that every transaction is recorded on a public ledger that can’t be altered or erased.
One thing that makes Litecoin different from other cryptocurrencies is that it has a larger supply of coins. This means that there are more Litecoin coins in circulation than other types of digital money. However, this also means that each individual Litecoin coin is worth less than other cryptocurrencies.
Overall, Litecoin is a popular cryptocurrency for people who want to make small or large purchases online, or send money to people anywhere in the world. It is secure, transparent, and easy to use once you get the hang of it!