Litecoin (LTC) is one of the oldest cryptocurrencies in existence founded by Charlie Lee. Litecoin as a cryptocurrency is a fork of Bitcoin, therefore they share many of the same characteristics but LTC benefits from shorter block generation times as it uses a faster payment confirmation schedule and a different cryptographic algorithm. Litecoin also has lower transaction fees than Bitcoin and can be used as a digital currency on the web to pay for goods and services and to play at crypto casinos.