Do you know why Litecoin is faster than Bitcoin ? Because the block time of Litecoin is faster than Bitcoin.
Litecoin block time only 2.5 minutes while Bitcoin block time is 10 minutes.
This means we need to wait around 2.5 minutes to complete a transaction for Litecoin, on the other hand,
we need around 10 minutes to complete transaction in Bitcoin.
So yes, Litecoin is faster. But not everyone prefer to use the faster one.
People prefer to using bitcoin because they already trust in bitcoin.
Topic: Sending Fee Question (Read 87 times)
First of all, your transaction fee has nothing to do with the amount you're sending. This is one of the best features about Bitcoin. I can send a million USD for a few cents in fees, just the same amount as if I were sending $5. That's only if the mempool is low, though. You can check it on any block explorer you wish; one that is visually appealing would be https://mempool.space/.
It gives you recommendations of a low, medium, and high priority fee based on the mempool's current state and it's updated in real time. It also gives dollar values for each.
You can also see in the 'incoming transactions' panel if Bitcoin usage is high or low right now and it allows to gauge if the mempool is expected to 'cool off' a bit soon or if it's expected to get more and more congested due to too many transactions being submitted.
It gives you recommendations of a low, medium, and high priority fee based on the mempool's current state and it's updated in real time. It also gives dollar values for each.
You can also see in the 'incoming transactions' panel if Bitcoin usage is high or low right now and it allows to gauge if the mempool is expected to 'cool off' a bit soon or if it's expected to get more and more congested due to too many transactions being submitted.
Btc is more widely accepted than a lot of altcoins and is also more stable than most.
When you mention cryptocurrency, many people have heard of btc and eth already - there's probably not many that hear about stablecoins (for better volatility resistance) or ltc (for low fees and faster speeds). Btc is also probably the most secure chain in the cryptocurrency space (it's subjective afaik but it's the oldest and has one of the largest number of witnesses).
How is this of any relevance to the question? When you mention cryptocurrency, many people have heard of btc and eth already - there's probably not many that hear about stablecoins (for better volatility resistance) or ltc (for low fees and faster speeds). Btc is also probably the most secure chain in the cryptocurrency space (it's subjective afaik but it's the oldest and has one of the largest number of witnesses).
Btc is more widely accepted than a lot of altcoins and is also more stable than most.
When you mention cryptocurrency, many people have heard of btc and eth already - there's probably not many that hear about stablecoins (for better volatility resistance) or ltc (for low fees and faster speeds). Btc is also probably the most secure chain in the cryptocurrency space (it's subjective afaik but it's the oldest and has one of the largest number of witnesses).
When you mention cryptocurrency, many people have heard of btc and eth already - there's probably not many that hear about stablecoins (for better volatility resistance) or ltc (for low fees and faster speeds). Btc is also probably the most secure chain in the cryptocurrency space (it's subjective afaik but it's the oldest and has one of the largest number of witnesses).
Say you want to send a small amount of crypto say 5 dollars usd worth... with the lowest fee possible... how much is it terms of usd wise to send
BTC
BCH
LTC
at the moment?
What site do you check? Saw one site that shows sending these are the average fees. Accurate?
BTC 0.000058 BTC ($1.81)
BCH 0.000018 BCH ($0.0042)
LTC 0.00018 LTC ($0.014)
Know you can adjust the sending fees on nano ledger for sending btc such as for low, medium or high. But if you were to send BCH or LTC, what would you input for the sending fee? Does the lowest fee you put still fast for BCH and LTC? Always heard LTC is very fast. Because if that is the case, why would anyone use BTC to send 5 dollars to someone or a site if they can use BCH or LTC and pay a penny?
BTC
BCH
LTC
at the moment?
What site do you check? Saw one site that shows sending these are the average fees. Accurate?
BTC 0.000058 BTC ($1.81)
BCH 0.000018 BCH ($0.0042)
LTC 0.00018 LTC ($0.014)
Know you can adjust the sending fees on nano ledger for sending btc such as for low, medium or high. But if you were to send BCH or LTC, what would you input for the sending fee? Does the lowest fee you put still fast for BCH and LTC? Always heard LTC is very fast. Because if that is the case, why would anyone use BTC to send 5 dollars to someone or a site if they can use BCH or LTC and pay a penny?
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