What is Litecoin?
How Litecoin works
Understanding the blockchain
Understanding Litecoin mining
How to invest in Litecoin
Should you invest in Litecoin?
Alternatives to Litecoin
- Litecoin has a low barrier to entry. If you want to dip your toe into the crypto pool, Litecoin is ideal since it’s price is still low enough that obtaining a single Litecoin won’t require a significant portion of your annual income. It’s also a great way to diversify your investments as a whole.
- Litecoin is faster. It’s faster to mine. It’s faster to approve. Compared to BTC, Litecoin gives you 4x the speed with new transactions being completed in just 2.5 minutes.
- Litecoin is open-source. Changes to the system can be made, and implemented, quickly. Innovations in tech, like the Lightning Network and Segregated Witness (SegWit), can be tested on and added to the network as a way to respond to the crypto market.
- Litecoin has a low credibility factor. Although the folks at the Litecoin Foundation LINK are bright and Litecoin was developed by a former Google employee, Charlie Lee cashing out all of his coins doesn’t lend credibility to the brand. And scrapping the Litepay service didn’t help that image either.
- It’s popular on the Dark Web. Nearly one-third of vendors on the Dark Web accept Litecoin, which can taint the coins going forward since each one has a digital paper trail. Some legit vendors, those not doing business underground, refuse to accept coins with a shady past, leaving the coins nearly worthless to the holder.
- Litecoin is often confused with Bitcoin. Having been built with the same framework, and branded as a lighter version of its precursor, Litecoin has some identity issues. Added to that, Bitcoin adopts much of the new tech that LTE uses, so to the newer investor, they seem nearly identical.
The bottom line
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