As per insights from CoinCarp.com, Litecoin has a capped supply of 84 million coins, with approximately 75.52 million already circulating in the market. This article will delve into essential information that both investors and wallet holders should be aware of concerning Litecoin and its transactions today.

Understanding Litecoin

Litecoin (LTC) is a cryptocurrency launched in 2011 by Charlie Lee, a former engineer at Google. Designed as a counterpart to Bitcoin, Litecoin aims to facilitate everyday transactions. Distinguishing itself from Bitcoin, Litecoin employs the Scrypt algorithm and boasts a block processing time of just 2.5 minutes—four times faster than Bitcoin’s ten-minute intervals.

How to Locate a Litecoin Transaction ID

A Litecoin Transaction ID (TXID) serves as a unique identifier—a 64-character alphanumeric string—that represents a specific transaction within the Litecoin blockchain.

Examples of Litecoin Transaction IDs:

  • 95a8de2251a505ec848c082ec84dfe1e2092c00e8071341fc5c61cdce9914a45
  • b312731940b323be5880713a8e2a92c99d43c6dd6ee94772fc1b2ac5393e8ffb

You can trace any transaction hash using one of two methods:

  1. Via your wallet: Log into your Coin wallet using your unique passphrase. Select Litecoin and review the transaction details in the ‘History’ section.
  2. Through a block explorer: Use platforms like Blockchair.com or Blockcypher.com to check transaction details. The information is generally displayed as follows:
Blockchair.com
Blockchair.com

A convenient link to a block explorer can also be found within your Coin Wallet.

Using a Litecoin Transaction ID

Having access to a transaction ID allows you to gather vital information, such as verifying the transaction status (approved or pending), noting the time and date of the transaction, identifying the wallet addresses involved, and confirming the amount transferred. This capability can serve as proof that you indeed sent LTC.

Blockchair.com
Blockchair.com

How to Purchase Litecoin

  1. Start by creating an account with Coin Wallet at → coin.space
  2. Choose Litecoin from the list of available cryptocurrencies
  3. Click on ‘Buy’ and specify how many coins you wish to acquire
Buy Litecoin

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