Is Litecoin a Better Investment Option over Bitcoin?

[rahulkohali79]

Litecoin is one of the first Bitcoin forks which were launched in late 2011 by former Google and Coinbase engineer Charlie Lee. To create this crypto, Lee copied the Bitcoin codebase, increased the total supply, and increased the speed at which new blocks are added to the blockchain. It was mainly constructed as a lighter alternative of BTC, but a faster and scalable one. Additionally, LTC encryption techniques are used for two critical features:

To regulate the generation of LTC units
To verify the transfer of funds and secure transactions network

WHAT IS LITECOIN VALUE?

LTC is one of the top-10 cryptocurrencies listed in Coinmarketcap.com. It is traded around the globe with the most common trading pair being Bitcoin (LTC/BTC), Tether (LTC/USDT), and (LTC/INR) in the Indian scenario. Just like BTC, Litecoin prices are also determined by the markets’ perceived value by supply & demand

At the time of writing, the price of 1LTC is $48.3 which is Rs.3556.60 in the INR market. Here the value is fully determined by the market forces

Litecoin Price Prediction 2020
 
Currently, LTC is trading within a massive symmetrical triangle. A breakdown could plummet LTC’s prices to below $20, while a breakout would propel litecoin’s value towards its all-time high. Before it reaches there, it will have to hold a value of $150 with resistance. At this point, the digital asset topped out ahead of its halving in 2019. The coin is likely to reach a peak of $150 in 2020.

Litecoin Price Prediction 2021 – 2022
 
If Litecoin can maintain to hold over its long-term downtrend line, it is believed that targets would put LTC’s value somewhere between $500 and $1500 per coin before the end of 2022.

Litecoin Price Prediction 2023 – 2025
 
A long-term bullish pitchfork channel has made a prediction that each litecoin can worth over $13,000 from 2023 to 2025. This would put the coin’s capitalization closer to silver and make it a more likely digital counterpart.


What's the Difference Between Litecoin and Bitcoin?
Even though Litecoin and Bitcoin are similar in many ways, there are a couple of major differences between the two coins. Some traders say that if BTC is the equivalent of gold, LTC can be compared with silver. This is exactly what the developer of Litecoin had in mind while creating it. Both the coins do share many similar characteristics, and LTC is similar to BTC except for a couple of differences:

Litecoin offers faster confirmation: Litecoin’s Network aims at creating a new block every 2.5 minutes, as compared to that of Bitcoin’s processing rate of 10 minutes, which its developers' claim allows for faster transaction confirmation. A major drawback is the higher possibility of orphaned blocks.

Litecoin uses a different hashtag algorithm: LTC uses a consensus model called Proof-of-Work, or PoW for short. Although Bitcoin also uses the same network (PoW), there exist slight differences between the two. BTC uses something called SHA-256 hashing. However, the Litecoin’s blockchain is different, as it uses a script algorithm.

The Litecoin Network will create more coins: Litecoin will create 84 million Litecoins or four times as many currency units in comparison with what will be issued by the BTC Network.

How to Trade Litecoin?

You can buy Litecoin from any coin trading platform that supports cryptocurrency trading. In India, many exchanges support LTC trade as an option. It is advised to research thoroughly about the policies and LTC Prices across different crypto trading platforms. Look for platforms which :

Provides security to the account and the custody of Digital Wallets is given to clients.
Major and convenient modes of payment to purchase cryptocurrency in India.
Receiving and transferring of cryptos instantly
Lowest maker and taker charges
Responsive & effective customer support and dedicated Indian community on telegram/twitter/Facebook for Indian users,
The spot to futures market options with great liquidity to trade your purchased crypto.

One can easily create an account on any trading platform in India. Let’s take an example of PCEX Member, which is one of the most prominent crypto trading platforms in India. With zero makers and taker fee, this coin trading platform provides full custody of digital wallets to their clients. Also, a 5 layer security system protects the account of users thus making it a safe & secure platform for trade. Create an account, complete KYC, and link your bank account to start trading in the world’s most profitable market.

[masterrex]

Litecoin price is currently stable but it doesn't mean that it has an edge with the King Bitcoin, BTC still the number one and top cryptocurrency a market leader thats why it's far better than any existing cryptocurrency in the entire industry in terms of investment and profits.

[Black ID]

I think Bitcoin will still be king, and not a single coin has been able to beat it yet. Including this litecoin. Indeed, this litecoin has a more stable price than bitcoin. However, the benefits obtained from the stable price are only small. It is better for the price to fluctuate, so that we can take a lot of profits and even get double profits there.

[Abubakar56]

From the little experience am having in trading LTC is a very nice and good coin but i will definitely advice to buy bitcoin over LTC!!! Because almost all coins are been controlled by bitcoin.

[robert20]

I dont think Litecoin is a good ootoin.ETH and XRP are much better than LTC.Both of them have a great potential. And BTC is the king no one can beat it

[Piku]

If you invest in high level coins in the market, the chances of profit are less. Coins that have a much lower market value are more likely to make a profit if you invest in them. So I think you should invest in low value coins.

[tamango]

I think LTC will show a steep profit during the altseason, in the meantime we see how bitcoin is gradually pulling the entire market! Therefore, choosing bitcoin today is a normal investment!

[MRM]

Litecoin is good for long-term investments, but Bitcoin is good for long-term investments. I think two coins are good for investing in the market. But to benefit from these coins, you have to make a long-term investment. If you want to make a profit by trading short term, you have to invest in tokens.

[MOProgress]

My opinion is that if bitcoin can grow to 25,000, then litecoin will cost 200, so LTC is a great purchase for me!

[Fivestar4everMVP]

I personally won't choose lite coin over bitcoin, in as much as litecoin is cheap and much more affordable than bitcoin, I still feel that bitcoin is the major factor driving some of this coin prices and litecoin is one of them, litecoin isn't that popular cus not too many People talks about it, and again, I've not seen any use case attached to it.

[Pluto25]

I think litecoin is a good investment coin but it not a better investment coin over bitcoin. Litecoin price now available in under hand and suitable for investment. When bitcoin market will be more than$20000 then litecoin price will be $100 . So invest litecoin before halving.

[edmundo]

Bitcoin remains the choice asset for investment for obvious reasons, it's safer, more recognised, bigger and has a greater chance for global adoptions and utilization compared to other altcoins. For this reason, anyone investing in Bitcoin is guaranteed relative safety and likelihood of better returns on investments.

[Tnoy30]

I think it is possible to make a profit by investing on bitcoin. However litecoin should be added to the investment level. Because at present the price of the coin is much lower. However, there is a possibility of increase in the future. So I think you should invest in these as well.

[Blue_sea]

I believe that litecoin is the top raked crypto currency in the world. The developers of the coin are very much proactive. The coins has potentiality. The current price is so chap also. At the current position i think it is better to invest in bitcoin.

[Gravatai]

Litecoin is a good coin not only for investing, but also for trading because it has high volatility and large trading volumes on all major cryptocurrency exchanges. I purchased several LTC coins and keep them now, but from time to time on price pumps I sell them and wait for a correction to buy.