March 30, 2022 05:33 PM
Overview
Costs & Margins
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Litecoin is a cryptocurrency that was created from a fork in the Bitcoin blockchain in 2011. It shares similar features to the original BTC, but has a faster processing time for transactions.
Litecoin was designed to address concerns that Bitcoin was becoming too centralised and aimed to make it more difficult for large mining firms to gain control of supply. It’s now a mineable coin that works as a peer-to-peer payment system.
Litecoin is most commonly traded against the US dollar under the ticker LTC/USD, which tells traders how many dollars are required to buy a single unit of Litecoin.
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Margin From50.0 %
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Trading Hours24 hours / day *
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Min Trade Size1
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Long0
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Short0
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Min Stop Distance0.0 Points
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Guaranteed Order Minimum100.0 Points
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Spreads
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Spreads From0.50 Points
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Margins
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0 - 34250.0 %
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342 +100.0 %
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Dealing
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Spreads0.50 Points
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Guaranteed Order Min Distance100.0 Points
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Margins
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0 - 34250.0 %
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342 +100.0 %
Latest research
October 6, 2021 02:29 PM
Popular instruments
Crypto explained
Can I trade other cryptocurrencies with City Index?
Yes, you can trade a range of cryptocurrencies with City Index, such as Ethereum, Ripple and Litecoin, available at a margin rate of 50%. Find out more about the cryptocurrencies we offer.
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Do I have to trade a whole Bitcoin?
No, one of the main benefits of Bitcoin CFDs is that you can trade fractional amounts and not an entire Bitcoin per transaction.
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What are cryptocurrencies?
Cryptocurrencies are digital tokens based on blockchain technology that act as a virtual currency. Many cryptocurrencies are mined into existence through the ‘Proof of Work’ system, involving the solving of complicated mathematical puzzles by high-powered computing software, with a cryptocurrency token made available to the owner as a reward.
However, a newer system known as ‘Proof of Stake’ involves contributors staking their own cryptocurrency in exchange for a chance to validate new transactions, update the blockchain, and earn a reward. Ethereum, for example, is expected to move to the Proof of Stake model in 2022.
The majority of cryptocurrencies are decentralised, which means that they are not connected to or affected by an authority such as a government or central bank.
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