Virtual currencies, real risks. The only guarantee in crypo is risk. Read more
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Disclaimer
The value of your virtual currencies can fluctuate significantly, and the amount you invested can be completely lost;
Virtual currencies are not covered by the bank deposit guarantee schemes;
There is no legal mechanism available on the virtual currency market to prevent market manipulation or insider trading;
Virtual currencies are entirely dependent on a specific computer technology and infrastructure, which in some cases may be very recently developed and not yet sufficiently tested;
In case of loss of the identifier or password that gives access to the virtual wallet in which the virtual coins are stored, those coins will be permanently lost;
Virtual currencies are currently accepted as a means of payment with limited acceptance, and in most countries there is no legal obligation to accept them;
For more information about the risks associated with an investment in virtual currencies, we recommend that you visit the Wikifin page What is a cryptocurrency? | Wikifin.
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We make investing in Litecoin easier, safer and faster than ever before. With the lowest trading fees and full transparency.
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Litecoin, often referred to as the silver to Bitcoin's gold, is a decentralized cryptocurrency that was created by Charlie Lee, a former Google engineer, in October 2011. It was designed as a peer-to-peer digital currency that operates on an open-source blockchain network. Like Bitcoin, Litecoin is based on the principles of cryptographic technology, enabling secure and verifiable transactions without the need for a central authority. However, Litecoin differs from Bitcoin in several key aspects. It utilizes a different hashing algorithm called Scrypt, which favors high-speed random access memory (RAM) rather than raw processing power, making it more accessible to a wider range of individuals and computers. Litecoin also has a faster block generation time of approximately 2.5 minutes, compared to Bitcoin's 10 minutes, which allows for quicker confirmations and a higher transaction throughput. Additionally, Litecoin has a larger maximum supply limit of 84 million coins, four times that of Bitcoin's 21 million, which contributes to its greater affordability and broader distribution.
The functioning of Litecoin is based on a distributed ledger called the blockchain, which records all transactions and ensures their security and integrity. When a user initiates a transaction on the Litecoin network, it is broadcasted to all nodes in the network. Miners, who contribute their computational power to the network, compete to solve complex mathematical puzzles to validate and bundle these transactions into blocks. This process is known as mining, and it involves finding a hash that meets certain predefined criteria. Once a miner successfully mines a block, it is added to the existing blockchain, and the transactions within it are considered confirmed. Miners are rewarded with a fixed amount of newly minted Litecoins, as well as transaction fees included in the block. This incentivizes miners to participate in the network and secure its operations. Litecoin also implements a feature called Segregated Witness (SegWit), which optimizes the use of block space by separating transaction data from the witness data, increasing transaction capacity and reducing fees. Overall, Litecoin aims to provide a fast, low-cost, and accessible digital currency solution for everyday transactions, complementing the store of value aspect offered by Bitcoin.
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Verify your account and transfer euros to your Finst wallet with iDEAL, Bancontact or instant SEPA bank transfer.
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Buy and sell over 240 digital assets and pay only 0,15% transaction fees. Store your LTC in your secure Finst wallet.
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Buy LTC with a trading fee of 0,15% per transaction and no added spead. That's it. Crystal clear.
Finst is an Amsterdam-based cryptocurrency exchange led by a team of investment professionals who have previously helped build one of the largest retail investment platforms in Europe. Finst offers the lowest transaction fees in Europe for a wide range of cryptocurrencies through a unique and highly secure platform.
Leveraging decades of combined trading, security and engineering experience, Finst aims to create a level playing field for all crypto investors and remove the high entry barriers associated with investing in cryptocurrency.