Litecoin (LTC) is a crypto asset designed to provide fast, secure, and low-cost payments by utilizing the unique properties of blockchain technology. Litecoin is an alternative coin that is a simplified version of Bitcoin.

Litecoin transactions are usually confirmed in just a few minutes, and transaction fees are almost negligible. This makes it an attractive alternative to Bitcoin in developing countries, where transaction fees may be the deciding factor on which cryptocurrency to support.

The reason Litecoin was developed was to fix Bitcoin's shortcomings, and it has now gained a lot of support as seen by its high trading volume and liquidity levels over the years.