What Is Litecoin Cryptocurrency Used For? Litecoin is a cryptocurrency like Bitcoin, but it is based on an entirely different protocol. It was conceived to act like pure digital money. The official Litecoin site says: Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world.
Meanwhile “ethereum classic” is the original ethereum cryptocurrency. Ethereum classic still trades on cryptocurrency exchanges and can be used as cryptocurrency. A new investor probably just wants ETH (Ethereum’s ether) and a digital wallet like MyEtherWallet (or a coinbase account with a built in Ethereum wallet).