Luno will add Litecoin market on its trading platform in May, 2020
Thank you for reading this post, don't forget to subscribe!
Following the announcement from the Luno Exchange blog, the Africa’s unicorn cryptocurrency exchange will be supporting litecoin market for buying and selling in May, 2020.
Litecoin will be the fourth cryptocurrency to be added on Luno exchange platform after adding Ripple (XRP). You can only trade Bitcoin, Ethereum, XRP and now Litecoin once it lists on Lump Exchange.
“We’re working hard to make sure everything is ready for you to be able to trade, buy and sell Litecoin the safe and easy way. That means making sure our multi-signature hot wallet and storage are ready, as well as doing our security checks and coordinating multiple layers of encryption.”
According to the news update, litecoin trading will not be available in Malaysia till Luno gets regulatory compliance in this region, “Litecoin will not be available in Malaysia at this time, we are currently working with local regulators.”
Litecoin is a fork from the Bitcoin Core client and uses much of the same code as Bitcoin. The main difference is that Litecoin processes blocks every 2.5 minutes instead of Bitcoin’s 10 minutes.
It does this by using a different mining algorithm to validate transactions on the network. This means a faster transaction confirmation time and, in turn, lower transaction fees.
The supply limit is also different from Bitcoin; Litecoin has an 84 million coin supply limit while Bitcoin has a 21 million coin limit.