Cryptocurrency Litecoin

Cryptocurrencies are a new stage in the evolution of electronic money. You won’t surprise anyone anymore with various electronic payment systems such as WebMoney, Yandex Money and others.

However, all of them are under the control of the authorities, and their monetary transactions can be stopped at any time at the request of the regulator.

It is worth noting that all payment systems except cryptocurrencies have their own owner, office and full access to regulate the flow of funds.

Therefore, the very recent scandal with the Liberty Reserve payment system and its subsequent closure makes us think about the reliability of such payment systems.

Litecoin cryptocurrency is a real example of decentralization. Litecoin, unlike the electronic money we are used to, does not have a main office or manager who stands above all the flows of money, and there is no specific structure that is responsible for issuing this money, so its rate is completely independent of central banks and other financial institutions.

Where does Litecoin come from?

Litecoin is the second largest and most widely traded cryptocurrency after the well-known Bitcoin . All cryptocurrencies are digital and are mined directly from calculations thanks to the computer power of the processor and video card.

It sounds a little crazy to the average person, but cryptocurrencies and Litecoin are also a product of your computer. However, if you look in more detail, there is a rational grain in this process. After all, everyone knows that gold is mined from mines, and the richer the mine, the more gold can be mined.

Thus, your own PC is nothing more than a “mine” where you can mine your own gold. This is why cryptocurrencies are independent money, because their market value directly depends on supply and demand.

The inability of states to regulate this payment system allows financial transactions to be carried out completely anonymously without providing a passport and other documents, as happens when registering with other payment systems or with banks.

Litecoin reinforcement

Many critics of Litecoin unanimously shout that this digital money is not backed by anything. Unlike real cash, which is no longer backed by gold, Litecoin is backed by the very hardware that produces it.

For some reason, no one has any questions about the production of gold, because everyone knows how hard it is to mine and that its reserves are limited in certain regions. Despite the fact that it is possible to mine cryptocurrencies on your own, the limiting factor in their extraction is our hardware, which is simply incapable of extracting it in huge quantities. The production itself directly depends on the power of our processor or video card.

Where to buy cryptocurrency.

To purchase Litecoin and other cryptocurrencies, there are various exchanges where you can freely exchange them for bitcoins, dollars and other currencies you wish. Thanks to the possibility of exchange, you can freely earn on exchange rate differences and actively exchange a given currency with the future expectation of its growth or fall.

You can also mine Litecoin yourself, but if you have an average computer by modern standards, at best you can recoup the cost of light.

Litecoin and earnings on Forex

It is no longer a secret that many Forex brokers allow active trading of Litecoin and Bitcoin through the MT4 trading platform. Of course, you can buy real Litecoin on exchanges and wait for a significant change in the rate to make money on it.

However, it is easier and faster to make money on exchange rate differences through a Forex broker, because you can use leverage, which will allow you to increase your turnover several times over. For example, if your capital is only $100, then with a leverage of 1 to 100 you will have $10,000 in turnover.

One such broker that provides this opportunity is ForexClub - www.fxclub.org . To make Litecoin appear in the list of MT4 instruments, enter the symbols and click on Litecoin with the mouse button, after which it will automatically appear in the list of currency pairs.

In general, trading Litecoin in MT4 is practically no different from working with other currency pairs. The only thing that affects the change in the Litecoin rate is supply and demand, so graphical and technical analysis works well on this instrument.

The entry of large mining companies into the market, as well as the ruin of existing ones, is one of the fundamental factors that you should pay attention to when trading.