Litecoin

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2016-06-03 00:00:00:


Litecoin is one of the most popular electronic payment systems that is independent and not subject to the authorities. The main currency here is virtual money, bearing the same name. The creator of EPS Litecoin is Charles Lee. He spoke about Litecoin as a payment system that would compete with Bitcoin.

Like any other currency, Litecoin is characterized by exchange rate fluctuations. Today, the cost of this type of cryptocurrency is 4.60 US dollars. The high level of capitalization of Litecoin indicates that the electronic money of this payment system has been successfully integrated (cryptocurrency occupies the second position in terms of capitalization).

The scope of use of Litecoin is extensive. Most often, electronic currency is used to pay for purchases and services on the World Wide Web. In addition, it can be exchanged for any other banknotes, both fiat (dollars, euros, marks, rubles, etc.) and virtual ones.

 

Security

The operation of the system is reliably protected by cryptographic codes. They also ensure the smooth operation of the Litecoin server.

Electronic wallets of users are also completely safe. They are protected by special ciphers. Clients can freely control the state of their accounts, view the history of transactions. However, each time the user is about to pay for a purchase or transfer funds to a third party account, the system will require a password. Such a precaution will not only protect the account from malware that can “cleanse” the wallet, but also give the person time to think about whether it is worth spending money or not.

 

Features of the functioning of EPS Litecoin

The operation of the Litecoin electronic payment system is based on a special component of the client program, the source code of which is open. The application layer network protocol allows users to communicate with each other and join groups (this protocol runs on the computer devices of all EPS clients).

The peculiarity of Litecoin is confidentiality: any user can hide his name during the sale or purchase of the currency.

This payment system is not controlled by administrative centers. This means that public authorities cannot regulate, control and manipulate exchange rates.

Electronic currency Litecoin is exchanged for various types of virtual currencies, as well as for money that is used in everyday life. Typically, exchange procedures are carried out on online platforms.

Reversible transactions using bank cards are not practiced in this electronic system. The reason is the possibility that the bank that issued the payment card will protest the transaction.

 

Electronic accounts in EPS Litecoin

People who earn cryptocurrency on the Global Web create electronic wallets on the Litecoin server. Opening an account in the system is quite easy. This procedure will not take long. This online platform offers two ways to open an electronic wallet.

  1. The user downloads a special program from the official EPS website and installs it on his computer.
  2. The client creates an electronic wallet in virtual mode.

Internet accounts are the most popular. First, they do not "take up space" on a work computer. Secondly, they are more convenient and easier to use.

 

How to open an electronic wallet online

Registered users can open an online account. To do this, press the "Open Account" button. In the window that opens, you need to fill in all the columns and come up with a strong password. A notification with a link to the site should be sent to the client's e-mail. By clicking on the link, the user confirms the registration. As you can see, it is not difficult to open an electronic wallet in the Litecoin electronic payment system.

Each client receives their own litecoin address. To earn, you should copy the link and paste it into the desired column: the money will be automatically transferred to the account.

 

How to replenish Litecoin e-wallet

In some cases, it becomes necessary to replenish virtual wallets. Litecoin electronic currency can be purchased in several ways.

  1. Payment system WebMoney. This method is the most simple and convenient. The WebMoney account must be active (for example, WMX). You can buy electronic currency directly in the WebMoney system or using the services of an online exchanger. Transactions are carried out at lightning speed. But this method also has a drawback - a large commission fee for the implementation of exchange transactions.
  2. Online exchangers. You can exchange money for Litecoin at any virtual exchange office. Russians most often use the services of the Matbi Internet site. It has a very simple registration form ( only a cell phone number is needed) and there is no conversion fee.
  3. Cryptocurrency exchanges. You can also replenish your account in the Litecoin system through exchanges that specialize in the sale of electronic banknotes. To participate in the auction, you must fill out an application. Some exchanges set limits on the amount of currencies purchased.
  4. Forex brokers. This method is suitable only for people who have experience in the forex business. For beginners, it's better not to risk it.
  5. Acquisition of electronic currency "with hands". In this case, the clients of the electronic payment system buy cryptocurrency from other users. Typically, sales announcements are posted on forums. The transaction fee will be minimal. However, this method of replenishing a Litecoin wallet has its own risks: no one can guarantee the reliability of a user selling cryptocurrency.

 

Development of the cryptocurrency market

More recently, the Litecoin currency was not very interested in sellers. However, the rapid development of electronic money has caused increased attention of Internet users to cryptocurrency, increasing the demand for virtual monetary units: more and more points appear on the World Wide Web that specialize in the sale of online currency. The number of companies that are happy to accept payment for goods and services in Litecoin is also increasing (for example, the GoCoin payment system).

 

How to withdraw Litecoin

To withdraw Litecoin, you need to use the services of specialized exchange offices. With their help, electronic currency can be converted into fiat money and sent to a bank account, as well as to cards of the international standard VISA or MasterCard. You can also withdraw money by bank transfer. For financial transactions, the user must pay a commission fee (from 2 to 4.5% of the transaction amount).

The client of the exchange office submits an application to the site administration for carrying out an operation for the exchange and withdrawal of cryptocurrency. Usually applications are processed no more than an hour. Funds are credited to the bank account within the term set by the financial institution (3-6 business days).