Convert LTC to USD

Litecoin was created and officially launched in 2011 by a former Google employee, Charlie Lee. Since its launch, Litecoin has been actively promoted to the community of traders and investors. At present, it is one of the most well-liked cryptocurrencies across the globe.

Litecoin was created based on the Bitcoin (BTC) protocol. However, this coin has a few notable differences:

• the hashing algorithm used;
• coin emission limits of 84 million LTCs, which is four times more than BTC's 21 million;
• transaction blocking time of 2.5 minutes;
• low transaction fee.

The last two points make Litecoin particularly suitable for microtransactions, making payments fast and affordable. As envisioned by Charlie Lee, Litecoin was supposed to be a lite version of Bitcoin.

The coin is particularly appealing among users in developing countries, where the crucial part of choosing a cryptocurrency is the network fee for transactions.

Over 2,000 sellers and buyers worldwide use Litecoin by today.

As Litecoin operates by the most common proof-of-work (POW) algorithm, the number of existing coins is constantly growing. Traders mine LTC and add new blocks to the blockchain, thereby increasing the number of LTCs in circulation.

As of November 2022, there are about 71.5 million LTCs in circulation. Recall that the maximum possible number of coins is 84 million. When the limit comes up, there will be a halving, and the number of LTCs will be halved.

Within the Litecoin network's launch and the first block's mining, about 500,000 LTCs were issued. Allegedly, some of the first miners were Charlie Lee and the first Litecoin developers.

Nevertheless, none of them profits from Litecoin management. The fact is that Litecoin is an equitably distributed asset, and they can only benefit by mining with their computer power along with other participants.

The Litecoin network is unhackable, as it is based on blockchain technology. Every transaction is confirmed by independent participants and recorded in the blockchain. Nowadays, this is the fastest and safest way to transfer assets from one user to another. Moreover, it secures the network against double-spending, hacking, and other cyberattacks.

Unfortunately, the network secures LTC only during transactions. As long as the coins are in your wallet/exchange, anyone can access your account and withdraw your funds.

We give special attention to customer data and funds' safety. To keep your funds secure, we offer the following:

• IP tracking to control authorization;
• two-factor authentication;
• protection against DDoS attacks from Cloudflare;
• the master key to restore access to your account.

PassimPay is a fully anonymous service available to everyone. You may have a look at the "Security" page. It has more details about user data and funds' protection.

More than that, with PassimPay, you can easily convert LTC into over 45 currencies and coins. Quickly, safely, and with low fees.