Find the best AUD/LTC exchange rate for Apr 12, 2021 | Finder

Litecoin to Australian dollar exchange rate

Find the best LTC/AUD exchange rate for 12 Apr 2021.

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= $ 334.0854

Refreshing in: 60s | Mon, Apr 12, 02:01AM GMT

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Historical Rate chart of LTC and AUD

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Updated: 12 Apr 2021 02:01:22 UTC
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Litecoin’s history

2017 was a busy year for Litecoin (LTC). In the year up to 24 December 2017, LTC saw a 9,000% increase in price. Hovering at around the US$4 mark until April of that year, LTC then saw its price increase significantly, peaking at US$375 on 19 December 2017.

Litecoin was created in 2011 by former Google employee Charlie Lee, and he has led the LTC development community ever since. On 20 December 2017, Lee shocked the cryptocurrency world when he announced the sale of his LTC holdings on a popular cryptocurrency forum. Not only did this cause worry with those who owned LTC, but it also came just a day after LTC’s all-time high.

Compare cryptocurrency wallets

Name Product Wallet Type Supported Cryptocurrencies Price (USD) Disclaimer
Ledger Nano X Wallet
Hardware
BTC, ETH, XRP, BCH, ADA, LTC, BNB, EOS, XTZ, XLM & 1,350+ more
$119
The Ledger Nano X comes with added Bluetooth functionality, more memory and a higher quality screen than its big brother, the Nano S.
Ledger Nano S Wallet
Hardware
BTC, XRP, ETH, BCH, EOS, XLM, LTC, TRX, ADA, MIOTA & 1,330+ more
$59
Securely store some of the world's leading cryptocurrencies on the Ledger Nano S hardware wallet.
KeepKey Wallet
Hardware
BTC, BCH , DASH, DOGE, ETH, LTC, NMC
$49
Protect your digital assets from hackers with the virus- and malware-proof KeepKey hardware wallet.
Atomic Wallet
Desktop Client
BTC, LTC, ETH, TRX, DGB, QTUM, XLM, ZEC, XRP, BCH and 150+ more
Free download
Store, buy and sell 130+ cryptocurrencies using Atomic Wallet's in-built atomic swap exchange.
TREZOR One Wallet
Hardware
BTC, ETH, XRP, BCH, LTC, LINK, XLM, HT, USDC, DASH & 1280+ more
$55
TREZOR hardware wallet is a secure way to keep your cryptocurrency safe from hackers and malware.
TREZOR Model T Wallet
Hardware
BTC, ETH, XRP, USDT, BCH, LTC, EOS, XTZ, LINK, XLM & 1380+ more
$170
The next generation of hardware wallet from TREZOR, the Model T includes a host of new features including a touchscreen and improved processing.
Sugi Wallet
Hardware
BTC, ETH, LTC, XRP, BCH, ERC20
$72
A NFC cryptocurrency wallet card with a mobile app that supports major cryptos and select ERC20 tokens.
MetaMask Wallet
MetaMask Wallet
Web, Mobile
ETH
Free download
A popular Ethereum wallet, MetaMask provides private key protection for sending and storing Ether.
LoafWallet
LoafWallet
Mobile
LTC
Free download
Developed by the creators of Litecoin, LoafWallet allows you to securely store Litecoin on iOS and Android.
LiteVault Wallet
LiteVault Wallet
Web
LTC
Free download
Store, send and receive LTC via the open source, web-based LiteVault wallet.
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Where to buy, sell and exchange cryptocurrency

Name Product Deposit methods Fiat Currencies Cryptocurrencies
CoinSpot Cryptocurrency Exchange
Bank transfer, BPAY, Cash, Cryptocurrency, POLi, PayID
AUD

276
cryptocurrencies

CoinSpot is an Australian exchange that lets you easily buy, sell and trade more than 250 cryptos.
Swyftx Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID
AUD

255
cryptocurrencies

Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
Digital Surge Cryptocurrency Exchange
Bank transfer, Cryptocurrency, POLi, Osko, PayID
AUD

250
cryptocurrencies

Finder Exclusive: New members get $10 bonus after verification. T&Cs apply.
An Australian based exchange with a focus on simplicity that allows users to purchase a range of cryptocurrencies with AUD.
Binance Cryptocurrency Exchange Australia
Credit card, Cryptocurrency, Debit card, Osko, PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

261
cryptocurrencies

Binance is the world’s largest exchange by trading volume. Get started with instant zero fee AUD deposits and withdrawals in Australia, and enjoy low trading fees, a wide selection of cryptocurrencies and 24/7 local customer support.
Cointree Cryptocurrency Exchange
Cash, Cryptocurrency, POLi, PayID, Online banking
AUD

132
cryptocurrencies

Finder Exclusive: New members get $10 bonus after verification. T&Cs apply.
Buy 130+ cryptocurrencies with fast-growth portfolio insights, and the ability to swap any coin to any other instantly.
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See: How to buy Litecoin

What has caused LTC’s growth?

Despite Litecoin’s founder selling his stake, the cryptocurrency’s development has been managed quite successfully. The technology that supports LTC is very similar to bitcoin, but the developers made changes that allow LTC to achieve faster transaction speeds and reduced transaction costs. When using the best technology, transactions become almost instant anywhere in the world.

More efficient transactions have two effects on LTC’s price growth: mining the cryptocurrency becomes more profitable, which generates more efficient transaction speeds, and as transaction speeds increase and transaction costs are reduced, businesses and individuals have the ability to settle everyday transactions. This means that it's easier to use LTC as the currency has become more widespread.

The better transaction speeds and lower transaction costs occurred alongside a very effective marketing campaign. These have all been major factors in LTC’s adoption into the world’s busiest cryptocurrency exchanges. In May 2017, Coinbase and Bithumb both announced their decision to list LTC on their exchanges. Being the two largest exchanges in the world, these events, more than any other, have driven the rise in the price of LTC.

LTC’s market capitalisation, market cap for short, is the strongest measure of LTC's performance. Market cap is worked out by multiplying the total mined LTC by its price. LTC’s market cap has jumped from just over US$340 million on 1 April 2017, prior to its programming upgrades and major listing announcements, to as high as US$20 billion on 19 December 2017. That equals a 5,782% increase, which is a noteworthy figure considering 61,000 units, or three-quarters of total minable LTC, have already been mined.

What needs to be considered before buying Litecoin?

Only a total of 84 million units of LiteCoin can be mined into existence, which is 63 million units more that bitcoin’s 21 million minable units. The extra 63 million minable units of LTC was probably intended to give the cryptocurrency greater price stability. However, this was not the case and LTC began to experience greater price swings. This had to be expected in a cryptocurrency market that in 2017 saw the value of all cryptocurrencies increase from just under US$18 billion to over US$650 billion.

As well as upward pressure on price and market cap, there has also been pressure on transaction costs for LTC. This is a threat to the long-term prospects of LTC as a currency and as an investment tool. During the wild price swings the cryptocurrency market experienced from 8 December to 20 December 2017, LTC’s price increased by over US$220. Its transaction volume increased from an average of 20,000 transactions per day to as many as 160,000. The LTC community has never experienced this kind of pressure and it resulted in bottlenecked transactions. As the network struggled to process the transactions, transaction costs increased from US$0.094 to US$1.50 – an increase of 1,495%.

Market rate for common transfer amounts LTC to AUD

Litecoin (LTC) Australian Dollars (AUD)
Ł1 0
Ł100 0
Ł500 0
Ł1000 0
Ł1500 0
Ł2500 0
Ł5000 0

What does it mean that its founder sold all of his Litecoin?

When Charlie Lee sold his entire LTC holdings at the end of December 2017, the resulting unexpected pressures were the first real test of LTC’s programming advances and the results are bound to worry its developers and its competitors. The effect on price stability and on transaction costs may mean that the hopes of LTC being a usable currency won't come to fruition.

It's important to keep an eye on how LTC handles these pressures. Mr. Lee has defended his move by saying his intentions were to avoid a conflict of interest as he continues his leadership of the LTC development community.

The programming changes and effective marketing strategies secured LTC’s place as one of the most influential cryptocurrencies of 2017 and are a direct result of Mr. Lee's leadership. His leadership is also a factor that heavily influences LTC’s future investment potential. Mr. Lee’s has been the driving force behind LTC’s price gains. However, his decision to sell all his LTC seems oddly timed and his intentions for selling are anybody’s guess. Keeping Mr. Lee’s excellent management skills in mind, it may be best to do as Mr. Lee does and not as Mr. Lee says.

Confidence in LTC, particularly moving past 2018, would be based purely on speculation. A potential buyer would be well advised to exercise a good deal of caution.


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