Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Litecoin Forum => Topic started by: maddisson on January 04, 2020, 03:58:38 PM
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Choosing which cryptocurrency to invest in can be a headache, especially as the markets change so quickly. One of the most successful coins of 2017 was Litecoin, which increased its value by more than 5000% in just 12 months.
Litecoin was originally created in 2011 after it forked an updated version of the Bitcoin client. This is why it’s sometimes called Bitcoin-Lite! Don’t worry, this will all be explained!
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In this complete guide, we will tell you everything you need to know about Litecoin. This will begin with some background information on what Litecoin is, and whether we think it is a good or bad investment. We are also going to show you how to buy Litecoin, and which wallet you should store it in.
So, by the end of this guide, your question “Should I buy Litecoin?” will be a little easier to answer. Well… what are you waiting for?! Let’s dive in!
Should I Buy Litecoin: What Is Litecoin?
Litecoin, also known by its currency code LTC, was created by Charlie Lee in 2011. Lee wanted to change the Bitcoin blockchain to make it “lighter”, meaning that it can process transactions quicker and cheaper. To do this, he forked the Bitcoin blockchain.
Are you wondering what a fork is?
Well, a fork is when a new blockchain takes the original code from a previous blockchain but makes changes to the technology to improve what it can and can’t do. That is exactly what Litecoin did. It used the original Bitcoin blockchain but made it quicker and cheaper to use!
Forks happen all the time in the cryptocurrency world. Other coins such as Bitcoin Classic, Bitcoin Unlimited and Bitcoin Cash are all forks of the original Bitcoin blockchain. Ethereum was also a fork of Ethereum Classic! Here are some improvements that Litecoin made from the Bitcoin blockchain.
Mining
Mining Bitcoin has now become very difficult for people who do not own expensive hardware. When people mine Bitcoin, they use their computing power to help verify transactions on the network and receive extra Bitcoin as a reward.
Although you never actually see what is happening, this extra power solves really difficult mathematical problems. These problems are so difficult that no human could solve it, that’s why we use supercomputers! This is what makes blockchain technology so secure and decentralized.
However, as more and more people use Bitcoin, the network becomes larger. There are more computers trying to mine Bitcoin, which means more competition. So, the hardware needed to be a successful miner becomes more and more expensive and requires more electricity.
Litecoin solved this problem by changing how the blockchain verifies transactions. Instead of using expensive ASICS (application-specific integrated circuit), it uses GPUs (graphics processing units). GPUs are much cheaper and use less energy, meaning that anyone can mine Litecoin!
If you’re not quite sure what that jargon means — basically, ASICS and GPUs are different types of computer hardware.
Transaction Speeds and Fees
The time it takes for a Bitcoin transaction to be confirmed is around 10 minutes. In the real world, this is quite slow. As Litecoin is a lighter version of Bitcoin, it is able to average transaction speed of around 2 ½ minutes!
By allowing people to use GPUs to mine, this speeds up the network for everyone. Quicker transaction fees aren’t the only benefit over Bitcoin that Litecoin has. The average cost to send a Litecoin transaction is $0.23, whilst the average Bitcoin transaction costs $2.83.
So, as you can see, there’s quite a difference, right?
No Threats of a Flood Attack
In 2015, the Bitcoin client experienced a flood attack, where hundreds of thousands of spam transactions were sent to the network! The purpose of a flood attack is like a virus — bad people try to damage a system.
Imagine if somebody sent you 200,000 emails at the same time. The network would not be able to process so many transactions (emails) and it would cause the server to break!
Charlie Lee noticed the threats of flood attacks when he was building Litecoin in 2011 and set out to make sure this would not happen to his blockchain! Litecoin aims to resolve the scalability issues that Bitcoin has — which means to allow more transactions to happen at a single time on the network.
So, now you know some background information about Litecoin, let’s have a look at whether Litecoin is a good or bad short-term investment.
Should I Buy Litecoin as a Short Term Investment?
When people invest money in cryptocurrency, they should decide whether they want to hold their coins for the short term or the long term. When we describe an investment as a short term, we generally mean between 1-12 months. However, more experienced traders might see a short-term investment of days, hours or even minutes!
This could be because investors are expecting an event to happen that will increase the value of the coin, but then they expect the price to decrease after. For example, if you made a short-term investment in Unikoin Gold (UKG) between November 2017 and February 2018, you would have made over 600% profit! That is an example of a good short-term investment.
However, if you held on to it for much longer, the value would have gone down to its original price! So, now that you know what a short-term investment is, let’s have a look at some advantages and disadvantages of short-term investing in Litecoin.
Advantages
High trading volume: Litecoin has been trading since 2011 and is an established top 10 coin. Meaning that it is a popular choice for investors. If a cryptocurrency has a high trading volume, it means you will have no problems finding buyers to sell to. If there are low trading volumes, it means you could find it difficult to find a buyer!
Listed on Coinbase: Coinbase process more cryptocurrency transactions than any other exchange, even though they only have four coins listed! One of these is Litecoin, meaning that you can easily buy and sell your coins. Even better, you can deposit and withdraw in real-world money! This is a huge advantage Litecoin has over other coins.
Disadvantages
Volatility: Volatility is a big problem in the cryptocurrency markets. Volatility means that the price of a coin goes up or down very quickly. This can make a short-term investment in Litecoin high risk. For example, if you had bought Litecoin in late December 2017, its price went down by more than 50% one month later!
Should I Buy Litecoin as a Long-Term Investment?
When people invest in a cryptocurrency long term, they expect their value to increase slowly. This generally means that they do not expect a lot of market volatility and that the coin is low risk. For less experienced traders who can’t handle large price movements, long-term investing is more suitable! A long-term investment is normally for 1 year or more.
A good example of a long-term investment is Bitcoin. If you had purchased 1 Bitcoin in 2011 it would have cost you about 30 cents. If you were brave enough to hold on to it until 2018, that 1 Bitcoin would be worth over $10,000!
Now that you know what a long-term investment is, let’s have a look at some of the long-term advantages and disadvantages of Litecoin!
Advantages
Full-time leadership: Charlie Lee, the creator of Litecoin, now works on the project full time. Lee also has a team of highly experienced blockchain experts that are helping the company to grow.
Established: Litecoin is one of the most established cryptocurrencies, with more than 7 years of trading. In fact, it was the first ever alt-coin! This makes Litecoin investing less of a risk compared to some of the newer coins.
Small Investments: If you are looking to make a long-term Litecoin investment, you can invest small amounts on a regular basis. This will allow you to protect yourself from any short-term price movements.
Disadvantages
Blockchain scalability: Scalability issues are something that most blockchain projects aim to solve. Solving scalability issues means that the blockchain will not slow down as more people use it. Currently, Litecoin can process about 56 transactions per second. Which is good compared to Bitcoin’s 7 transactions per second. However, it must be made quickly for it to be useful in the future.
Should I Buy Litecoin: How do I Invest In Litecoin?
One of the main advantages of investing in Litecoin is that you can easily buy it using fiat-money such as USD, EUR, and GBP! This makes it easier because you can use your debit or credit card, and even bank transfer (even PayPal is accepted on Coinbase!).
This is different from a lot of other cryptocurrencies. Usually, you have to exchange Bitcoin or Ether to get other cryptocurrencies, you can’t just purchase them from a broker like you can Litecoin
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Your post is so long... I don't read whole articles but I want to invest in Litecoin and hold it long term period.
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Still litecoin is a potential altcoin today it's price is $45 if invest on this coin we will get good profits in this year this is the best way to double your investments so just buy this coin.
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Your post is so long... I don't read whole articles but I want to invest in Litecoin and hold it long term period.
thats true, so long post. But I read It is good time and good way to buy litecoin. There is many prediction, litecoin will rise at the middle this year, July or August this year we will see the bull market. I have litecoin and hold now. I hope It is the right way to get profit.
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Litecoin is potential altcoin so if invest in low price definitely we can earn lot of profits in short time because litecoin is profitable altcoin thus it's price will pump all cryptomarket situations so don't think about litecoin investment just buy now.
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Of course, litecoin is a potential altcoin so no doubt that this coin will going to the moon anytime, so buy now while it is cheap. It is good investment.
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Litecoin is a very top altcoin and often shows good growth, and most importantly, Litecoin developers are constantly trying to improve their technologies and capabilities, which is why Litecoin is an excellent choice for cryptocurrency investments.
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It's from the top coin from the market. Every Top 100 coin from the market has pontial in it. So LTC is a good investment option if you want to hold it for long.
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For OP:
- It's up to you, I (LiteCoin) like this, I respect your decision no matter what you do.
- Before trading far away with LiteCoin, please check your interest once more so that when you experience losses when trading with LiteCoin, you do not feel the loss.
- Because there are so many altcoins that can be traded, you can definitely buy coins besides LiteCoin broo!
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Litecoin or any coin in top 20 CMC is a safe investment. You may gain less investing in them but you also loose less with them. You can also take a looks on some less known coins but have solid work, such as RVN, ALGO, THETA or ENJ.
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Thanks for the information, Investment on litecoins has less chances of loss as it is one of the safest coins to invest on.
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Litecoin is one of the popular coins and is very feasible to buy, and for long-term investments can provide benefits that can change the finances getting better.
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Litecoin is top altcoin still it has many users and it performance is too good cryptomarket because this altcoin moving is to good so we can earn lot of profits all cryptomarket condition just look past 12 months litecoin market this is perfect profitable altcoin.
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If you want to buy litecoins for investments , just do it buy more litecoins and hold until you earn profits if you buy in right time namely buy in bottom price that's a good idea and this is the easiest way to earn profits in quickly litecoin is not a dull coin so if you buy litecoins definitely we can see lot of profits.
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If you buy litecoins in low price that's good decision to earn profits because still litecoin is top potential altcoin so we can earn lot of profits by this coin in short term. If you buy LTC now you can earn profits in this year. so keep watch LTC market situation to invest.
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Of course, litecoin is a potential altcoin so no doubt that this coin will going to the moon anytime, so buy now while it is cheap. It is good investment.
I see litecoin is a good coin, It maintain at number seven. In my opinion the top ten is very potential coin and good choice to invest. I jave bought 100 LTC and still hold it, maybe until the end of this year.
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Yes litecoin is potential altcoin for investments this is the profitable investment if you buy in low price today LTC price is$41 but the past six months LTC touched almost $90 moreover this coin is top altcoin still this coin has huge supporters so everyday this project is moving forward in cryptomarket if you invest in this coin then don't care about it because definitely this coin will give more profits.
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Litecoin is a very top altcoin and often shows good growth, and most importantly, Litecoin developers are constantly trying to improve their technologies and capabilities, which is why Litecoin is an excellent choice for cryptocurrency investments.
Yes, I see litecoin maintains at top ten. coin. I think Buy litecoin is the best way to get profit at the future. I see litecoin price is still low now. You can buy it and wait. Many investor has done it.
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Now the time is best to buy the coins becasue so many peoples will analyse the market and they say that soon the bull is come in the crypto market and on that time all the great coins will go up so much and the holder of the coins will make a great profit in the makret.
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I dont suggest you to buy litecoin becuase YOU wont be able to earn much profit from this coin...my suggest for you is hold btc or another Altcoin like ripple which show great it price..and in my own idea surely it will give you much profit
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If you buy litecoins in low price that's good decision to earn profits because still litecoin is top potential altcoin so we can earn lot of profits by this coin in short term. If you buy LTC now you can earn profits in this year. so keep watch LTC market situation to invest.
I agree with your prediction about litecoin, I think we should choose invest in litecoin for short term. I see the litecoin price is still low now. Buy and hold until the end of this year, maybe at November this year, we will get profit.
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Litcoin has a strong community and huge potential project also now the Litecoin price is low.So you can choose long term and short term investments in Litecoin because I think Litecoin is best for make long or short term both investments now. so I hope hereby you can get more profit in the future.
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Ofcource , litecoin is really a strong project , Everybody should buy this coin as a long-term investment Coin.
I Also have some good quantities of these coin hopefully got good profit from it .
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If you buy litecoins in low price that's good decision to earn profits because still litecoin is top potential altcoin so we can earn lot of profits by this coin in short term. If you buy LTC now you can earn profits in this year. so keep watch LTC market situation to invest.
Yes I agree mate, buy litecoin when the price is still low , you will get profit at the end of this year, maybe at November this year the price of litecoin will go up.
I have bought more and wait until now. I believe litecoin will rise and rise again soon. Many prediction said about it.
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If you buy litecoins in low price that's good decision to earn profits because still litecoin is top potential altcoin so we can earn lot of profits by this coin in short term. If you buy LTC now you can earn profits in this year. so keep watch LTC market situation to invest.
Yes I agree mate, buy litecoin when the price is still low , you will get profit at the end of this year, maybe at November this year the price of litecoin will go up.
I have bought more and wait until now. I believe litecoin will rise and rise again soon. Many prediction said about it.
Yes litecoin is profitable altcoin if you buy in low price definitely you will get profits in this year , litecoin is still strong coin so certainly it will move up in CMC so buy in low price and just hold until the market recover I hope this year litecoin will rise again.
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Yes, I think you should buy litecoin. I have read many prediction said litecoin will have bright future. It is stable and very potential for long term investment. You can buy now and you will get profit at the next year. I like this coin and believe the price will go up every week.
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Of course, litecoin is a potential altcoin so no doubt that this coin will going to the moon anytime, so buy now while it is cheap. It is good investment.
Yes I think It is the basic way when you will invest in crypto currency. Buy when the price is still low and sell when rise. I always believed litecoin will have bright future and more popular at the next several year. I also consider about litecoin will beat bitcoin and ethereum at the future.
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Litecoin is very potential coin and It is good for long term investment. I have read many prediction at this forum, Many people said litecoin will be the next bitcoin or maybe will compete with bitcoin and ethereum at the next future. I think It is the reason why I buy more litecoin.
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Litecoin is popular altcoin and promising coin still this coin is going in good condition litecoin is potential old altcoin so litecoin has huge supporter still this coin is surviving in crypto market so many investors believe in this coin's future so we can invest in this coin for long term because this is the worthy and profitable altcoin.
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Yes I think litecoin is very potential coin. You should buy more litecoin now and hold it. It is good for long term investment. Many people already have bought and invested in litecoin. They believe litecoin will give them big profit at the coming future.
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Litecoin is potential altcoin so we can choose this coin for long term investments but currently I think this is the best coin to earn profits in short time because this coin is still waiting for the bull run so this year we can see the litecoin bull market hereby we can earn money in short time so if you buy now you will earn profits in this year.
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If you want to invest for long term, I think litecoin is the best coin to choose. You can buy more litecoin now and hold for several months. You will get profit at the next year. It is really potential coin and has good progress at the Crypto currency market this year.
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yes buy some ltc for good profit hold then for 2020 end.
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to day i buy 20 ltc am holding them 2020 end
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Of course you can invest in Litecoin. Because Litecoin is a profitable investment altcoin in CMC.
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Litecoin has always been considered digital silver, it always followed Bitcoin and was in the TOP CMC, but then there was a period when it was undeservedly forgotten. Today, information begins to flow in the press that Litecoin is gaining momentum again, I am very happy about this.
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Yes I think litecoin is good coin. When you see the price is low, I think It is the right time to buy more. Buy now and hold it, You will get big profit at the end of this year. It is really potential and good coin for long term investment. I have believed with litecoin and until now I still hold my LTC
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I think this is a simple promotional topic to become interested to Litecoin and try to invest this promising coin. Litecoin offers faster and quicker transactions than Bitcoin. Ltc is also good to hold for long term with Bitcoin and some of btc forks.
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litecoin is a favourite and popular cryptocurrency in the coinmarketcap. i already kept litecoin in my coinbase wallet.
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Grayscale Investments is the only US company to receive SEC approval and issued Litecoin shares on August 18. And in two days of trading, the demand for shares raised their rate above the value of real assets by 753%, it's funny - holding shares is more profitable than the cryptocurrency itself.
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If you buy litecoins in low price that's good decision to earn profits because still litecoin is top potential altcoin so we can earn lot of profits by this coin in short term. If you buy LTC now you can earn profits in this year. so keep watch LTC market situation to invest.
Litecoin is very potential, I also have bought litecoin now mate. I believe litecoin will have bright future and more popular at the coming future. Litecoin will give us the big profit at the next year, maybe at January or February the next year..
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Of course, litecoin is a potential altcoin so no doubt that this coin will going to the moon anytime, so buy now while it is cheap. It is good investment.
The time is to buy the LTC because it is cheap now but the future will brite next year. So if anyone want to collect LTC i think it’s a right decision.
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I think Litecoin is a potential altcoin so if we invest at a low price for sure we can get a lot of profit in a short time and because litecoin is also a profitable altcoin so the price will pump up all situations in the market.
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There is a lot of curiosity about the current litecoins because the price of lite coins is much higher now than before. As the days go by and the price of these litecoins is going to increase and I think it is possible to get a lot of good profit by buying and holding lite coins. Litecoins are currently moving forward a lot.
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You can now buy litecoin. I will support you now if you are interested in buying litecoin At present the prices of all the currencies in the crypto market have come down Bitcoin is the best of all cryptocurrencies. As the price of Bitcoin has come down, so has the price of all other currencies. At present the price of litecoin is much lower. So you can invest by buying litecoin.
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Since light coin is a much better and popular coin than other fruits, you can buy and hold this coin if you want. People have already benefited a lot by holding these coins. So if you can afford to buy these coins, then of course you can buy and hold these coins.
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Litecoin is potential altcoin so if invest in low price definitely we can earn lot of profits in short time because litecoin is profitable altcoin thus it's price will pump all cryptomarket situations so don't think about litecoin investment just buy now.
Yes, mate. You are right in this case and I agree with your opinion. I also think that it’s the high time to invest in Litecoin for long term. Now Litecoin's price is still low and it’s near in our hand to buy more for hold. If we buy Litecoin more now and hold them, we will get huge profit from here in future. Now it’s the right coin for long term investment.
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Litecoin is a very potential Altcoin in the crypto market. At this moment the price of litecoin is very low. It is right time to invest in lite coin.
As it is cheap now there has a chance to increase of it's value in near future. So if you want to by litecoin, do it at once .It is right time to invest in litecoin.
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Litecoin is one of the good coin in crypto market. It is very potential and suitable for long term investment. At present it’s price is low and it’s easy to buy for every investors. But I think in future it will shows us a great pump. So I want to invest in Litecoin. It’s a great chance to earn a good profit.
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This my dream someday I can buy Litecoin because from now on this coins will be legalized already in the exchanges and I want to kept it for any purposes of my future someday and hoping it can be looks for the other coins very potential and popular.
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Litecoin is very popular altcoin in the crypto market. It is among the top most 10 altcoin. But at this moment the price of litecoin is pretty low. Hope it will be rice up in near future. So it is best time to buy litecoin. Because if you invest at this lowest price, near future you can gain a large amount.
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Although you have a very large post in this post, I read your post carefully. Because your whole post was full of informative posts.Light coins are currently one of the best cryptocurrency coins. People are currently buying lots of light coins. And there are many who want to buy light coins but they do not know how to buy light coins Is to purchase. But if you read your post, he will get an idea about everything.
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Now if you are thinking that I will buy light coins then I think you have made a good decision. Because now is the best time to buy and hold light coins. Because in the future there is a possibility of pumping the value of light coins.I have already bought some light coins for the future
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Litecoin is very popular altcoin in the crypto market. It is among the top most 10 altcoin. But at this moment the price of litecoin is pretty low. Hope it will be rice up in near future. So it is best time to buy litecoin. Because if you invest at this lowest price, near future you can gain a large amount.
Yes, litecoin price is low. I think It is good time to buy litecoin and hold till the end of this year. Many people have predicted litecoin will bullish at this year. So hold and wait are the best way to do now. I have done it.
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In my opinion, it is better not to buy light coins at present, because light coins are not in a very good condition at present. But if you plan to hold on and time, then you buy light coins. Because there is a big possibility of increasing the value of light coins in the future.
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In my opinion, it is better not to buy light coins at present, because light coins are not in a very good condition at present. But if you plan to hold on and time, then you buy light coins. Because there is a big possibility of increasing the value of light coins in the future.
I don't agree mate, I think litecoin price is low now. I think it is the right time to buy litecoin. I have see many investors already buy litecoin and hold it. I also done it. I hope litecoin price will soar soon. Let's see
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In my opinion, it is better not to buy light coins at present, because light coins are not in a very good condition at present. But if you plan to hold on and time, then you buy light coins. Because there is a big possibility of increasing the value of light coins in the future.
I don't agree mate, I think litecoin price is low now. I think it is the right time to buy litecoin. I have see many investors already buy litecoin and hold it. I also done it. I hope litecoin price will soar soon. Let's see
Yes Bro, The crypto market situation is currently worsening but the price of almost all coins has been dumping. Litecoin price has come down a lot. It would be better to keep it without selling it at this time. There is a possibility that the Litecoin price will return to its previous state very soon. Since the current price has come down a lot, it would be better to keep it on hold.
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Yes, you can buy the Litecoin this time and when you buy the LTC coin then hold that coin and sell the LTC coin when the BTC touches the 200,000$ becasue that time LTC coin touches the 3000$ minimum.
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I think the present is the best and best time to buy light coins in particular. There are many of us who are willing to buy and hold light coins, if they want, they can buy light coins now and hold them for the future. Because soon there is a possibility of a big increase in the value of light coins. Many members of the forum have already benefited by buying light coins. So you can buy and hold these light coins even if you want.
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If you have enough money to invest,you can buy Litecoin for long term investment. It is the perfect time for buy Litecoin and hold it. Because now Litecoin's price is still low and easy to invest. But I hope it’s price will reached in a good position in coinmarketcap list. So if you invest, you will benefited.
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Litecoin is currently the best place to invest. The way the litecoin price is rising in May, it is seen that it will hit $300 in a few days. Currently, many investors have started investing in litecoin. Looking at its current situation, it is understood that the price of litecoin will increase a lot. At this time the profit will definitely come who will invest.
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Well, Litecoin coin is old coin and has been created at 2011. I think litecoin is suitable for long term investment ,if you have free money to hold at litecoin.
Litecoin price will reach around 300-400 USD at this year.
By seeing many prediction about this coin , I think litecoin has potential to hit 300 USD at this month while bitcoin reach 60K USD .
Litecoin is very potential if you confident to use this coin for long term investment. Do it...
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You are now thinking that you will buy and hold light coins. Yes you made the right decision. Because now it is better to hold the light coin. Now is the best time to hold light coins. More likely to pump light currency in the future. I bought some tokens for the future. You can buy, hold or hold.
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I think it is very good decision to invest in Litecoin for long term. It is the best time to buy more Litecoin and hold them for long term. Now it is very easy to buy because at present it’s price is low and suitable for investment. But I hope it will pumped hugely in future. So if you invest in Litecoin right now, you will benefited in future.
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Litecoin is a popular and potential altcoin all crypto currency investors know about litecoins so it has big community always this coin has big trade volume in the cryptomarket currently litecoin is preparing for a new all time high if litecoin break all time high definitely we can see a big move of litecoin if you have litecoins hold it buying litecoins not a bad idea.
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Lite Coin is a popular coin that has already become very popular in the cryptocurrency market. Those who bought and held lite coins have now benefited a lot. I think the value of Lite coins will double in the future so investing in Lite coins now can make a lot of profit in the future.