What is Litecoin?
One of the oldest cryptocurrencies, built as a lighter, faster version of Bitcoin.
Litecoin (LTC) is a cryptocurrency launched in October 2011 by former Google engineer Charlie Lee, based on Bitcoin's code. It produces blocks about four times faster (every 2.5 minutes), has a maximum supply of 84 million coins, and uses proof-of-work mining like Bitcoin.
Litecoin vs. Bitcoin
| Compare | Litecoin (LTC) | Bitcoin (BTC) |
|---|---|---|
| Launched | October 2011 | January 2009 |
| Block time | About 2.5 minutes | About 10 minutes |
| Maximum supply | 84 million | 21 million |
| Mining | Proof of work (Scrypt) | Proof of work (SHA-256) |
| Halving | Every 840,000 blocks (about 4 years) | Every 210,000 blocks (about 4 years) |
| Smallest unit | 1 litoshi = 0.00000001 LTC | 1 satoshi = 0.00000001 BTC |
Halvings
Litecoin's block reward started at 50 LTC and halves every 840,000 blocks. The most recent halving, in August 2023, cut it to 6.25 LTC. The next is expected around mid-2027.
What it's used for
Litecoin was designed as "silver to Bitcoin's gold": quicker confirmations and lower fees for payments. It's widely supported by exchanges and payment processors. Since 2022 it has had an optional privacy feature called MWEB (MimbleWimble Extension Blocks).
Like all crypto, Litecoin's price is volatile, and its value is much smaller than Bitcoin's. Use a Litecoin block explorer to check transactions, and never send LTC to a Bitcoin address or vice versa.
Frequently asked questions
Who created Litecoin?
Charlie Lee, a former Google engineer, launched it in October 2011.
How many Litecoins are there?
The maximum is 84 million. Most have already been mined.
How do I buy Litecoin?
Most major exchanges list LTC. The same safety steps apply as for Bitcoin; see how to buy Bitcoin safely.
Where to next
Sources
Written for beginners and checked against the sources listed. Last reviewed October 26, 2026. This page is educational and is not financial, tax or legal advice. How we write and check pages.