AS well as Bitcoin there are several other cryptocurrencies making waves at the moment.
Digital currency investors have long been aware of Litecoin – the second largest digital currency which launched in 2011 and appears to be nearly identical to Bitcoin – with some notable differences…
How to buy Litecoin and is it safe?
The cheapest, easiest way to purchase Litecoin is by using your Bitcoin currency at a site such as Bit Bargain.
You can also get hold of Litecoins by mining them, using standard computing equipment.
However, Litecoins have a less developed infrastructure than their heavyweight Bitcoin brother, meaning they’re more difficult to purchase.
The best way for novices to purchase is certainly through using an existing Bitcoin stash.
Anyone thinking of investing in Bitcoin or another cryptocurrency should be very careful.
Their values are volatile, with the ability to plummet as quickly as they shoot up.
And investors are frequently targeted by hackers and other criminals who seek to steal their crypto-cash online.
Be especially careful if you are using direct, peer-to-peer platforms to sell and buy cryptocurrencies.
Today the US Securities and Exchange Commission halted a multi-million dollar digital token sale by California-based restaurant review app firm Munchee.
SEC chairman Jay Clayton said there were substantially more opportunities for fraud from initial coin offerings.
The US regulator also warned consumers of the dangers of investing in crypto-currencies issued by firms – the latest in a string of warnings from global regulators.
What is it’s price?
On December 23 at 8:50pm, the price was £223.82 ($299.71) – putting it down 19 per cent from the day before.
It started out 2017 at $4.33 – meaning the digital currency has enjoyed extraordinary growth this year.
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Is the cryptocurrency as valuable as Bitcoin?
Bitcoin has enjoyed a meteoric rise this year – but its younger sibling Litecoin actually has more than twice its year-to-date gain.
Compared to its 4,215 per cent rise in value, Bitcoin’s 1,800 per cent rise pales in comparison.
But Litecoin is considerably cheaper at the moment.