So what exactly is Litecoin cash (LTC)? Litecoin is one of the first true digital currencies. It was first released in 2009 and has seen tremendous growth in value over the past two years. Litecoin’s main use as a virtual currency is to pay for physical goods and services. However, it does have some utility as an online peer-to-peer online electronic cash system as well.
Many people believe that Litecoin (CNY) was created to serve as a hedge against the US dollar. This theory seems to hold some merit because while the US dollar has lost ground against other currencies, the Chinese Yuan and Japanese Yen continue to be the world’s two most popular and widely traded currencies. Because there was a hedge in place for this situation, the Litecoin price stayed relatively stable and remained high until late-October 2009, when it began to fall. Since then, the Litecoin cash price has fluctuated between a few hundred dollars and several thousand dollars, depending on the country that it is issued in.
As a result of the increased demand for Litecoin, the price has been dropping as of late. This may be a good time for investors to purchase some. It will not only provide you with a safe haven from economic instability. It will also help you learn about this exciting new technology and its potential in your future ventures.