Defining Differences
As featured on Sloto Magazine
Eleven years ago Bitcoin was released to the world, and except for a handful of technology geeks, few people were excited about it. In fact, the vast majority of people continued living their lives without the slightest idea that a revolution was on its way.
Fast forward to 2019 and you can now find over 1,600 cryptocurrencies. A new technology has flourished and it promises to change the way we view money, financial transactions and online security.
Bitcoin is perhaps the most familiar of all cryptocurrencies, but it’s not the only one available. In fact, it has two children that go by the name of Bitcoin Cash (BCH) and Litecoin (LTC), which are very similar to their predecessor. They were released to solve practical issues encountered by Bitcoin.
Litecoin appeared in 2011, and its goal was simple: to reduce transaction costs and transaction times.
Bitcoin Cash appeared much later, in 2017. Its creators aimed at increasing the scope and capacity of the cryptocurrency’s network, while also lowering fees and transaction times.
Here’s a look at the main differences between the 3 cryptocurrencies:
| BITCOIN (BTC) | Bitcoin Cash (BCH) | Litecoin (LTC) | |
|---|---|---|---|
| Max. Number of Coins | 21 million | 21 million | 80 million |
| Average Block Size | 1 MB | <200KB | 32 MB |
| Average Transaction Time | 10 minutes | 10 minutes | 2.5 minutes |
| Average Fee (USD) | $2 | $0.005 | $0.07 |
And what does all this mean to us? It means that banking just got easier at SlotoCash online casino. Login to the Sloto Cash casino lobby and go directly to Banking. There you can choose from a wide range of banking options - including Bitcoin and Litecoin we've spoken about here. Make your deposit and you're on your way to some mega online casino real money FUN!!!
