Institutional Platform SFOX Introduces Litecoin Trading
Founded back in 2014, Palo Alto-based SFOX, the platform for institutions and high-volume traders has announced adding Litecoin to its listings. Registered users will now be able to use the platform to sell and buy Litecoin. These using the platform are permitted access to multiple exchanges using their algorithms.
SFOX’s mission is to provide liquidity and access to buy cryptocurrency and believes adding support for Litecoin will help achieve these goals. Litecoin began as an imitation of Bitcoin with a few key differences for use in commerce. A block is created four times as often so when you buy Litecoin the confirmation time is shorter.
Litecoin will ultimately end up with four times the amount of coins as Bitcoin making it more accessible for global commerce and proportionately cheaper. The hashing algorithm differs from Bitcoin in the way that it is memory based as opposed to CPU.
The coin has the seventh largest market cap by volume as shown on Coin Market Cap and has held this position over the last year. Though the coin can be just as volatile of other cryptocurrencies, adding the ability to buy Litecoin through SFOX’s platform is showing endorsement for the coin.
SFOX has shown a strong commitment to offering liquidity for institutions with the demand of users seeing the introduction of Litecoin. Perhaps we could see further listings on the SFOX platform facilitating more options to buy cryptocurrency.
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