The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Speaking of Litecoin, most investors should have heard of it. It is a digital currency inspired by Bitcoin. It has made some improvements on the basis of Bitcoin. It was founded by a former It was written by programmers working at Google and was released online as early as November 2011. The technical principles of Bitcoin and Litecoin are very similar, but the biggest difference between Litecoin and Bitcoin is that it is designed based on an open source encryption protocol, so the currency is not controlled by any central authority of management. So is it illegal to speculate in Litecoin? Many investors want to know whether it is reliable to speculate in Litecoin? Now let the editor of the currency circle tell you about it.

## Is it illegal to speculate in Litecoin?

Litecoin is currently legal, but it is illegal if you use Litecoin for illegal activities. Virtual cryptocurrencies such as Bitcoin and Litecoin are defined by the central bank in my country as a special Internet high-end currency that citizens can buy and sell freely at their own risk, which denies their currency attributes.

Central Bank Governor Zhou Xiaochuan once said that Bitcoin is more like a tradable asset, similar to stamps. Since it is a commodity or asset, of course it is legal. Citizens' property is sacred and inviolable. Bitcoin Home also has the full text of the joint notice on Bitcoin risks issued by five ministries and commissions including the central bank in 2013. If you are emotional, you can read it. Most major countries in the world also adopt a cold attitude towards Bitcoin because Bitcoin may be used for illegal activities such as money laundering and drug trading.

## Is it reliable to speculate in Litecoin?

Litecoin is currently one of the mainstream currencies, and it is relatively reliable to speculate in Litecoin. The most popular saying in the currency circle is "If you can't afford Bitcoin, try Litecoin." The madness of Bitcoin has attracted countless eyeballs, and its "brothers" - other altcoins are not inferior to Bitcoin in their madness. , Litecoin is the leader among them. Data shows that due to low prices, Chinese currency speculators have controlled global Litecoin transactions.

Compared with Bitcoin’s unlimited popularity in recent years, another online virtual currency, Litecoin, is not inferior at all, and its increase since November 2013 has been even more astonishing. From 27 yuan on November 17, 2013 to 117 yuan on November 27, Litecoin increased by more than 300% in just 10 days. Subsequently, the price of Litecoin once exceeded 300 yuan. As of December 16, 2013, the price of Litecoin on domestic trading platforms fell back to around 170 yuan. Litecoin is considered "the most successful virtual currency to improve the Bitcoin algorithm", and there is even a saying in the industry that "Bitcoin gold, Litecoin silver".

Since the beginning of 2018, the price of Litecoin has been rising from less than 1 yuan, and has even soared at a crazy speed of doubling every day. Many other virtual currencies such as Prime Coin and BioCoin were only worth a few cents each at the beginning of the year, but now they have risen to dozens of yuan. Some analysts say that these virtual currencies, whose total market size is smaller than that of Bitcoin, are more prone to roller-coaster-style rises and falls.

According to data from overseas media, China has not only become the largest market for Bitcoin transactions in the world, but also controls global Litecoin transactions. The number of Litecoin transactions on China’s okcoin trading platform exceeds the total transaction volume of all other trading platforms in the world.

To sum up, this is the answer of the editor of the currency circle to the two questions of whether it is illegal to speculate in Litecoin and whether it is reliable to speculate in Litecoin. I hope that this introduction about Litecoin by the editor of the currency circle can help all investors to understand Litecoin. Have a more in-depth and thorough understanding of this currency. The editor of the currency circle would like to remind all investors that Litecoin is still very well-known, especially in China, where it has higher recognition. However, we as investors should pay attention to the fact that although Litecoin itself is not a scam, there are many criminals who will use Litecoin to carry out pyramid schemes and fraud activities, so everyone must pay attention to guard against such risks.