Should You Invest In Litecoin?
Litecoin (LTC) is often referred to as Bitcoin’s younger brother. Bitcoin and Litecoin are similar in operation, but there are a few main differences:
Founder Charlie Lee — Unlike the anonymous developer of Bitcoin, the founder of Litecoin is well-known.
Transaction speed — The Litecoin system was developed by Lee, an engineer, to be four times faster than Bitcoin. As a result, Litecoin will verify the validity of transactions far more quickly.
Number of coins — Bitcoin will have a total of 21 million coins until they are all found, while Litecoin will have 84 million.
The market price of Litecoin is $282.64. (As of 16th April 2021). This compared to a price of $37.25 a year ago, resulting in a fivefold price rise. When compared to practically every other type of investment, it is remarkable.
Why should you invest (or not) in Litecoin?
Litecoin is currently the most common cryptocurrency, second only to Bitcoin. So, if Bitcoin is a little too pricey for you to invest in, look into Litecoin.
It’s almost similar to Bitcoin, but transactions are much faster, which is one of its main advantages.
However, there is a room to discuss whether Litecoin’s pace makes it less stable.
You should also keep in mind that, while Litecoin has delivered remarkable returns over the last year, its current price is still below the ATH $364.59 it traded for a few years ago. While all cryptocurrencies are inherently unpredictable, Litecoin appears to be even more so.
While your Litecoin kept its growth, you can earn more income from staking the litecoin on staking platform such as SnapBots.
You can gain rewards from your coin staked in SnapBots. And yeah, that’s awesome isn’t it? Sign up here!
There so many staking platforms out there, but SnapBots one of the best for me.
However, crypto asset investing, trading, staking can be considered a high-risk activity. Please use your extreme judgement when making the decision to invest in, sell, or to stake Crypto Assets.