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Litecoin vs Bitcoin Cash: Key Differences Between Bitcoin’s Most Popular Forks

Litecoin vs Bitcoin Cash

Litecoin (LTC) and Bitcoin Cash (BCH) are two of the most popular Bitcoin forks. A fork happens when developers change the original code of a blockchain to create a new version with different features. Litecoin and Bitcoin Cash were both designed to address some of Bitcoin’s issues, such as slow transaction times and comparatively high fees.

These two coins are often used for payments. If you are using CoinRemitter, it’s essential to understand how these coins work and which one is better if you accept payment in crypto. In this article, we will compare two of Bitcoin’s most popular forks, Litecoin and Bitcoin Cash.

1. Transaction Speed

Fast transaction confirmations are crucial, especially for e-commerce businesses and service providers.

Litecoin (LTC)

Bitcoin Cash (BCH)

Verdict: Litecoin gives fast confirmations, which is helpful for businesses that want quick payments. On the other hand, Bitcoin Cash transactions may take more time due to its larger block size. However, it holds more transactions in a single block. This maintains smooth transactions when the network is busy.

2. Transaction Fees

Transaction fees are the minimal costs paid to miners for processing payments. Lower fees mean more savings and higher profits for businesses.

Litecoin

Bitcoin Cash

Verdict: Both currencies have lower fees, but Litecoin takes the edge in this regard. It has a lower USD value, resulting in cheaper transaction costs. This makes LTC ideal for small or fast payments. BCH may be a better choice for large-volume transactions.

3. Scalability and Network Load

Scalability means how well a network handles many users at the same time. This is particularly important for stores that process a high volume of payments.

Litecoin

Bitcoin Cash

Verdict: Litecoin handles fast and small transactions perfectly. On the other hand, Bitcoin Cash is better for large-volume transactions for large-scale platforms.

4. Mining and Algorithms

Mining is the process of creating new coins and confirming transactions. Both LTC and BCH use different methods.

Litecoin

Bitcoin Cash

Verdict: Litecoin’s mining system is more balanced and was built for smaller miners. Bitcoin Cash shares mining power with Bitcoin, which may result in slower mining and confirmation times.

5. Community Focus and Main Goals

Both coins were created to fix problems with Bitcoin, but they focus on different things.

Litecoin

Bitcoin Cash

Verdict: Litecoin is built for fast, secure, and private payments. On the other hand, Bitcoin Cash focuses on becoming an actual digital currency for the global economy.

6. Total Supply and Coin Limit

Many cryptocurrencies may have a maximum supply. This means only a pre-defined number of coins can ever exist.

Litecoin

Bitcoin Cash

Verdict: Litecoin has a larger maximum supply, which makes it easier to spend and purchase. On the other hand, Bitcoin Cash has a lower total supply, which may keep its value higher.

Final Thoughts

Litecoin and Bitcoin Cash are two of the most trusted forks of Bitcoin. They were designed to address Bitcoin’s issues, and they do a great job at it.

At CoinRemitter, you can accept both LTC and BCH through our simple and secure cryptocurrency payment gateway. Our easy crypto payment solutions help you get started quickly and grow your business with the advantages of cryptocurrency payments.

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