Litecoin is known for adopting the latest technologies and that’s what makes it unique. Cons of Litecoin (LTC) Questionable uniqueness There’s only a small time-window for hackers to attempt any attack. The speed of LTC transactions makes the system less vulnerable to getting hacked or used by attackers for malicious activities. That is as compared to Bitcoin’s 21 million limit, Litecoin has 84 million, which is quite high. When we compare it with Bitcoin, Litecoin has a high upper limit in terms of the number of total coins. This is one of the major benefits that Litecoin offers against other cryptocurrencies out there. The transaction fee for Litecoin is rather low, which makes it a great digital currency to transfer value. The LTC blockchain processes a block within 2.5 minutes, whereas Bitcoin takes 10 minutes to process each block. Fast TransactionsĬompared to other cryptocurrencies, Litecoin is extremely fast. For example, it can easily embrace and adopt new systems like Lightning Network (LN) technology as well as the new SegWit system.
Litecoin is open sourced, which means it can easily implement changes and software updates to respond to the changing dynamics of the market. That said, let’s find out the pros and cons of Litecoin. Yet, there are also some downsides that you must take into account before using it. Pros & Cons of Litecoin (LTC)Īs you can imagine, there are many reasons to invest in Litecoin (LTC). Litecoin is designed as a more scalable and reliable payment-focused alternative to Bitcoin. This is where its similarity to most traditional cryptocurrencies ends. However, there’s a catch! Instead of using US dollars for transactions, Litecoin uses the LTC coin for value transfers. Like a bank’s online network or PayPal, users can use LTC to transfer currency to one another. Litecoin LTC is a decentralized peer-to-peer cryptocurrency that functions as an online payment system. Taking this factor into consideration, Litecoin has established itself among the top 10 largest cryptocurrencies in the market. Simply put, market capitalization is the amount of digital currency on the market.
However, it contests with lots of promising alternatives, one of which is Litecoin.Ĭryptocurrencies are measured by their market cap. There are about 1,658 recognized digital currencies in circulation.īecause Bitcoin was the first cryptocurrency to launch, it has got all the publicity and attention for media outlets. If you are new to the realm of cryptocurrency, you must have come across names like Bitcoin, Litecoin, Ethereum, etc. Without further ado, let’s get to Litecoin price predictions and finally answer the question we all ask ourselves: will Litecoin go back up? Illustration of a Litecoin (LTC) Coin What is Litecoin (LTC)? So, what is in it for the investors? What the future holds for Litecoin? To answer these questions, we’ve compiled the latest expert opinions to determine the long term benefits of investing in this currency. Experts stated that this is a huge step towards the growth of Litecoin, and it will no longer be known as Bitcoin’s sister.
According to blockchain experts, some investors rapidly ended their LTC trading process after the halving took place.Ī few months back, LTC introduced Confidential Transactions for tackling fungibility issues. Investors and crypto enthusiasts were quite vocal about the Litecoin halving event and the effect it had on the digital currency. In 2019, Litecoin underwent its second halving, where the block reward halved to 12.5 LTC from 25 LTC. This price movement made investors question what factors can boost Litecoin price and where it will be standing in the years to come. Over the course of 2018, LTC’s price decreased almost five times. Litecoin, as most cryptocurrencies, has been lately suffering from an ongoing bearish trend. The digital currency was created by Charlie Lee and implemented important technologies that were later used in prominent cryptocurrencies like Bitcoin, among others. In this article, you’ll learn more about this unique cryptocurrency and discover the Best Litecoin Price Predictions 2020, 2021, 2023, 20. Its low price, high speed and affordable fees have made it a go-to choice for cross-border money transfers. Litecoin is one of the biggest cryptocurrencies by market capitalization.