What makes Litecoin different from Bitcoin?

While you can't directly buy or sell Litecoin on Bitget yet, it's a great platform for trading other cryptocurrencies. Here's a breakdown of how Litecoin and Bitcoin differ:

Transaction Speed and Fees: Litecoin is designed for faster transactions with lower fees than Bitcoin. It achieves this by having a shorter block generation time (2.5 minutes compared to Bitcoin's 10 minutes). This makes Litecoin ideal for everyday purchases, while Bitcoin might be more suited for long-term storage.

Supply: Litecoin has a higher maximum supply (84 million coins) compared to Bitcoin's 21 million. This means there's more Litecoin available, which can affect its overall value.

Creator: Unlike the mysterious Satoshi Nakamoto behind Bitcoin, Litecoin's founder is Charlie Lee, a former Google engineer.

Market Position: Bitcoin is the dominant cryptocurrency with a much larger market capitalization (total value of all coins). Litecoin, however, is a well-established altcoin with its own dedicated user base.

Overall: Litecoin acts like a "silver" to Bitcoin's "gold." It prioritizes faster transactions and affordability, while Bitcoin is seen as a more digital scarce asset.