which means that a single person made a massive transaction in a matter of seconds and with the lowest fees possible, only by using LTC for the initial transfer. This has created a social media ruckus wherein supporters from both projects are fighting each other on the basis of transaction fees and time. Technical Analysis, the bear trend for LTC is potentially nearing an end. Lets see how the biggest transaction ever was made on Litecoins platform and what we can learn about LTC from this multi-million venture. Example: If your inputs bitcoin von coinbase nach birfinex ecchange wallet and outputs add up to 560 bytes, that is under 1 kilobyte, meaning the fee is (mintxfee * 1) (currently that.001 LTC). If you send the new default minimum transaction fee.0001 LTC/kB, then you can rest assured it will pass through the network without an issue if there isnt a backlog in the memory pool. Again, a traditional Cloud long entry signal will not occur until price is above Cloud with volume. Transactions per day also mirror other cryptocurrencies. Litecoin is developed with a focus on speed, efficiency, and wider initial coin distribution through the use of scrypt-based mining.
Litecoin - Current transaction fees for various cryptocurrencies
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Although overall Asian influence on LTC prices remains low, Korbit, a South Korea exchange, recently added LTC to its platform. One common misperception of the minimum transaction fee is that.001 LTC is the lowest fee you can pay for it to get processed by the miners. The 99 million dollar worth transaction took only.40 in fees, which is in every way an amazing reduction of the fees when compared to the traditional way of making payments and money transfers where fees for this type of transaction would cost thousands and. This is taken from m/ltc. This means that multisig transactions will also require a higher minimum transaction fee because of the amount of blockspace it takes. Follow us on, telegram, twitter, facebook, related Topics: Litecoin. Since then, Litecoin somehow fell into the shadows of EOS, the currency that took its place on the list. In short, hopefully this article will empower you to send lower fees by giving you an idea of how to estimate the necessary minimum fees for your transactions: Determine the data size of your transaction. The status of the current Cloud metrics on the daily time frame is entirely bearish, with doubled settings (20/60/120/30) for more accurate signals; price is below Cloud, Cloud is bearish, the TK cross is bearish, and the Lagging Span is below Cloud but above price. Conclusion, in relation to other coins currently available, LTC usage remains relatively high based on several metrics. If you feel particularly adventurous, try sending a transaction below the default minimum relay fee and see if it gets picked up by random nodes that will process the transaction because they custom set their minimum relay fees below the new default.00001 LTC.