Bitcoin is on the rise now, a new bullrun has begun but it isn’t necessarily the best cryptocurrency. Litecoin is a great alternative. Here are some of its advantages over Bitcoin according to Crypto Money Guru.
The Coin Limits Are Higher:
The limits for the amount of maximum number of tokens issued are four times as high! It is set at an astonishing 84 million.
No Big Mysteries Surrounding It:
The creator of this currency is known and trustworthy. It was created by Charles Lee. He is a graduate of MIT and used to work as a software developer for Google. The real name of Bitcoin’s creator still remains unknown after all these years.
Large Potential For Growth:
Currently, LTC tokens are significantly less valuable than BTC. In fact, it is only around 20 dollars per coin. This is partly due to it being significantly less popular.
However, it’s likely that this will change in the future. Increased popularity could cause its value to spike. This could be quite profitable for investors who choose to invest in LTC.
It’s value is currently rising fast. In early 2016, litecoins were valued at only around 3 dollars per coin. The increase to its current value of around 20 dollars per coin was more than a six fold increase!
Companies are seeking alternatives to BTC. This could result in more attention being paid to this cryptocurrency. If major corporations use it more often, it’s likely that it could significantly increase in price.
The Transactions Occur More Quickly:
Transactions with LTC take an average of 2.5 minutes. This makes LTC transactions four times faster than using BTC. The faster processing time makes doing business with it is much easier. As people become aware of this, it’s likely to make it more popular. This could result in it becoming more valuable.
Since the price per coin is still relatively low, it’s possible to frequently use one or more coins for a transaction. In addition, it is possible to hold a large number of coins at one time. This advantage may contribute to an increase in their popularity, and this could result in price increases.
They Can Be Mined More Easily:
You don’t need bulky, specialized computers to mine them! In fact, the graphics card of a good gaming computer could be sufficient! Not only is mining litecoins a great way to make money, but the ease of mining them may draw more attention to this digital currency in the future. This could result in more people using it. The resulting increase in popularity could create substantial price increases in this digital currency.
BTC still remains the main cryptocurrency having the biggest market share but LTC is in top 5 so it can be at any time a great alternative and a good way to diversify your investment portfolio.
Do you own BTC or LTC? What’s the best option in your opinion? Please share your answers or any thoughts about this topic by adding your comment bellow.
You can find more information about this topic on https://insidebitcoins.com/bit