We are happy to announce that we will list Litecoin (LTC) on GateHub on June 2, 2021. We will fully support the cryptocurrency for deposits, withdrawals and trading on the XRPL.
LTC will be available for trading on the XRPL DEX with any of our supported fiat (USD, EUR) and crypto currencies (XRP, BTC, ETH, BCH, ETC, DSH) as well as any other XRPL IOU.
LTC will launch with zero trading fees for the first month.
Litecoin is an early Bitcoin spinoff project that started in 2011 by Charle Lee. It uses proof-of-work like Bitcoin but has a decreased block time generation (2.5 minutes), increased maximum supply (84M), and uses a different hashing algorithm (scrypt instead of SHA-256).
Some LTC stats (as of Jun 2, 2021, source: CoinGecko):
|All-Time High||$410.26 May 28, 2021||All-Time Low||$1.15 Jan 14, 2015|
Litecoin used addresses starting with “L” at first. After the implementation of SegWit, the new address format started with a “3” which was confusing as Bitcoin also uses 3-addresses after SegWit. Litecoin made the adjustment and today Litecoin SegWit addresses start with “M”.
GateHub users will use M-addresses for deposits. Withdrawals to L- and M-addresses will be supported.
Sample Litecoin address:
LTC on GateHub
LTC will be fully supported on GateHub as any other cryptocurrency. You will be able to generate a deposit address that will direct funds to your wallets. Sending LTC is done via GateHub owned wallets.
The XRPL exchange supports any-to-any exchange, as you already know. You can exchange LTC with any GateHub supported currency on the XRPL via Trade.