Did you know that, besides Bitcoin, Litecoin is the oldest operating cryptocurrency? It was created by Charlie Lee in 2011 as a faster and potentially more decentralized version of Bitcoin. This year it has seen new interest as a testbed for Segwit and as a cheaper, faster alternative to Bitcoin.
Athena Bitcoin has chosen to begin testing Litecoin at our Atlanta, Georgia area ATMs!
Bitcoin vs Litecoin: How do they compare?
Bitcoin is the most valuable and most widely used cryptocurrency, however it is also having trouble keeping up with demand--like a crowded freeway--causing some people to switch to alternative currencies such as Litecoin. Bitcoin transactions usually cost over a dollar and possibly much more to send from your own wallet. They can also take several hours (or more) to confirm on the network depending on the fee you used and the current congestion level.
Litecoin, on the other hand, will confirm usually within 3 minutes and costs just a few cents per transaction. If your destination accepts Litecoin then it may be for you. Keep in mind that Litecoin is not nearly as popular or widely-accepted as Bitcoin.
What does this mean for Athena customers?
If you are using our network to purchase Bitcoin nothing will change. However, IF you are looking to make smaller payments using a digital currency or are looking for the fastest possible transaction times AND your destination also accepts Litecoin/LTC, then Litecoin will likely be the best choice for your payment. You can purchase it directly from our ATMs with cash; the process is almost identical to buying Bitcoin. Just remember that Litecoin addresses begin with "L" and you will need a valid address to receive litecoin.
Check out our Litecoin launch page for more info!
Banner image credit: BTC Keychain