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How to Exchange Bitcoin (BTC) to Litecoin(LTC) on CoinSwitch

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Bitcoin vs. Litecoin: What's the Difference?

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Bitcoin makes use of the longstanding SHA algorithm, whereas Litecoin makes use of a comparatively new algorithm known as Scrypt. For example, a merchant selling a product in exchange for Bitcoin would need to wait nearly four times as long to confirm payment as if that same product were sold in exchange for Litecoin. Compare Popular Online Brokers. Partner Links. In principle, this difference in confirmation time could make Litecoin more attractive for merchants. Investopedia uses cookies to provide you with a great user experience. Over the past several years, public interest in cryptocurrencies has increased dramatically. Login Advisor Login Newsletters. Although technically transactions occur instantaneously on both the Bitcoin and Litecoin networks, time is required for those transactions to be confirmed by other network participants. The equivalent figure for Litecoin is roughly 2. This has led many commentators to view Scrypt-based cryptocurrencies such as Litecoin as being more accessible for users who also wish to participate in the network as miners. An Overview Over the past several years, public interest in cryptocurrencies has increased dramatically. At the most basic level, they are both cryptocurrencies. Your Money. Since then, however, many other cryptocurrencies have entered the scene, with at least 20 tracked by major financial news sites each day. Bitcoin vs. Virtual Currency How to Buy Bitcoin. The offers that appear in this table are from partnerships from which Investopedia receives compensation.

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