While Bitcoin has become a rather common way for those who are looking for a simple way to pay for goods and services, other digital currencies do exist, and they can be just as convenient and effective as their predecessor, Bitcoin. In fact, many appreciate the fact that Litecoin complements Bitcoin in the ways that matter the most. Litecoin is also completely decentralized, which means that there is not a regulating agency impacting its use. Unlike some other cryptocurrencies, Litecoin boasts wallet encryption; this makes it possible for users to view their transactions but requires a password for the spending of the Litecoins in their account. Secure, anonymous and decentralized, Litecoin has proven itself to be a high-quality digital currency that users can rely on.