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Litecoin: Why Are We Still Investing in This Cryptocurrency?
Find out now why we still invest in Litecoin Cryptocurrency and why we don't consider this asset as "outdated" in the digital world. What to Expect? Can it Go Up over time?
What is Litecoin?
It is a fact that in the digital world of Cryptocurrencies, we all know Bitcoin, however, for a long time, in fact, shortly after the creation of Btc - published in 2009 - a very interesting crypto asset was developed and similar to Btc... A very interesting cryptocurrency called Litecoin.
Litecoin was published on October 7, 2011, 2 years after the creation of Bitcoin with the aim of being a specific cryptocurrency for payments (although there are other very interesting points of this asset that we will talk about throughout this article).
This crypto was created by Charlie Lee, a former Google employee whose main objective was to develop a perfect cryptocurrency like Bitcoin, but faster and scalable, and he succeeded. We know that depending on the moment and the rate, Btc (in its base layer) is not very fast in transactions, not to mention the rates of fees that are unfeasible for smaller payments.
That said, we can see that Ltc is lighter than Btc and has extremely similar fundamentals!
Similarities between Bitcoin and Litecoin:
Of course, as we defend here, Bitcoin is a unique and revolutionary asset, but as we also defend in this market, there is room for many other assets, not just Btc that we can use as Money.
The fact is that all cryptocurrencies in their base are dollar-backed, so let's see the almost similarities:
- Bitcoin was the first cryptocurrency to be created, Litecoin the second;
- Both are scarce assets, some even know it as "digital gold and silver". There will only be 21 million Bitcoins to be mined, Litecoin will also only have 84 million;
- Both cryptocurrencies are mined through computational power: proof-of-work and have an extremely strong network, even Ltc is much inferior in this regard, still, it is very unlikely that someone will be able to hack this network;
- At each halving, these assets increase in value compared to the previous cycle;
- Both Cryptocurrencies are pure;
- Both are widely accepted worldwide as a means of payment: Litecoin wins this point because its network is more efficient and payments are made faster, in addition to cheaper fees! "Oh, but second-tier Bitcoin is also just as efficient (or even superior to Ltc)." This is true, however, it works very well from person to person, in the case of companies and even cryptocurrency brokers, very few allow transfer through secondary layers, in addition to being complex and, between us, not all users have this facility with technology;
- They are indirectly partner networks because Btc developers always do the tests before on the Ltc network.
Price? What to expect? Can you go up?
It is a fact that some investors are skeptical about the future of this asset, mainly because the creator himself has left it aside, however, we will not stop giving our opinion and pretending to be "crazy", after all, Steve Jobs has also been considered as such.
What to expect? The truth is that many of the investors who criticize this asset today have already had their moment to invest in Litecoin, after all, it was the second cryptocurrency to be created and few assets of this class manage to maintain themselves on this long journey, even more so in a relatively new market. like crypto.
Today, Litecoin Price is $60 and its all-time high in the 2021 cycle was $386.45; therefore, it is an asset that has potential, especially considering its price close to the 2011 launch, the asset cost only US$3. So you can go up.
The Trend has always been bullish if we look at previous cycles, very similar to Bitcoin.
We follow many investors who, in 2020 and 2021, exchanged Litecoin for Terra Luna from their wallets. Soon after, in 2022, Luna plummeted, lost confidence and went to literally zero.
Therefore, it is very interesting in the investment world - essentially in the cryptocurrency universe - to have an open mind to see value where the herd is not. This is how future millionaires are formed.
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Who is Charlie Lee who founded Litecoin?
Charlie Lee has a very interesting curriculum as a computer scientist and, in addition to having worked as a Software Engineer at Google, he was also one of the main Bitcoin Miners at the beginning, around the year 2010.
This icon has also worked at Coinbase - The best rated Cryptocurrency exchange of the year 2022 and was of great importance in writing the codes of Chrome OS, a Linux-based operating system by Google.
Even though Charlie Lee sold almost all of his positions in Litecoin, what he did with this money was donate it to mining pools. Besides, nowadays he is working full time with Litecoin Foundation in order to spread Ltc to as many people as possible.
Where to Buy Litecoin?
We always like to emphasize that we do not make investment recommendations, we only give our opinion on the most diverse subjects in the crypto world. Want to know if we invest in Litecoin? Yes, we invest, however, with risk management. Today, this asset corresponds to 5% of our portfolio, 50% of which is in Bitcoin.
From that point on, if you feel like buying this cryptocurrency, we recommend that you use the Bybit broker, as this platform has a 100% discount on spot market rates!
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But after all, why do we still invest in Litecoin?
Surely if you read the entire article and got this far, you must be wondering: but after all, why still invest in Litecoin?
The answer is very simple... Although we mention some similarities with Bitcoin (which are already strong points for the currency), we must remind you, dear reader, that there will not be Btc for everyone, this is a fact! If every millionaire today decided to buy 1 Bitcoin, this would not be possible!
Therefore, knowing that there will not be Btc for everyone and that the price of Bitcoin, of course, is much higher than that of Ltc, we apply the strategy of accumulating as many satoshis as possible and, with that, leaving a part of the wallet destined for assets more " speculative", like everything that exists in this market, including Btc itself.
It is inferred that Litecoin is the second Cryptocurrency to be created in the digital universe and many brokers and companies accept it as a valuable currency to make deposits and transfers, in this way, Ltc is already a reality, people use it, so take it Be careful with cryptocurrencies promising "magnificent" things, be it Defi, Tokens, Nft... Avoid failing to invest in good assets because you prefer "extremely high return potential". You could end up missing a lot of great opportunities.
Litecoin is reality, Litecoin is scarce, fast and practical! Litecoin Works and It's Digital Silver!
Important Update on Ltc:
In October 2022, Litecoin underwent a very important Update on its Blockchain. Despite being a "forgotten" asset for many investors, Litecoin will now have its own smart contract system, thus competing with Ethereum, Solana, Polkadot and Cardano, for example.
It will also have its own Defi and Nfts integration system, so it will also compete directly with platforms such as Uniswap and Pancakeswap. Nice progress.
This asset is one of the cryptocurrencies that has the largest community, as well as Bitcoin itself and, with Charlie Lee's leadership, it only grows.
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