Although Bitcoin remains the flagship cryptocurrency to many, that hasn’t stopped hundreds of developers from releasing hundreds of alternative coins over the years. One of the first to hit the scene was Litecoin in 2011, making it one of the oldest “altcoins” — and a powerful cryptocurrency in its own right, with a market worth billions.
Bitcoin went from being worth around $1,000 at the start of 2017 to close to $20,000 in December, before settling to around $12,000 at the start of 2018. Litecoin had a similarly meteoric rise. It rose from just $4 in January 2017 to more than $370 at its peak less than 12 months later. At the time of writing, it’s corrected to $150.
All of the above benefits are also present with Bitcoin. It has the longest proven record of all cryptocurrencies by virtue of being the very first. It’s also accepted at the most outlets, and its support across the globe is strongest. When it comes to name recognition too, there is no denying that Bitcoin is the most visible. For more mainstream audiences, Bitcoin and cryptocurrency are synonymous, and with a topic as complicated as this, that seems unlikely to change.
But Bitcoin is still the best store of value. It’s well recognized, supported by almost all cryptocurrency services, and has a longer history. Litecoin is one of the better alt-coins when it comes to storing value, however, so it’s a good pick if you’re looking to try out a different currency.