If you are looking for a secure and safe peer-to-peer cryptocurrency to invest in, then Litecoin is one of the hottest digital coins for you right now. Since it was created in October 2011, it has stayed as one of the top performers in the crypto world.
Here are some great reasons why Litecoin would make a great digital investment for you.
- Lighter Cryptocurrency Investment Alternative to Bitcoin
One of the things that set Litecoin apart from other cryptocurrencies is its high trading volume. Since it first started trading in 2011, Litecoin has grown so much and is now on the top 10 of the most established coins in the market. The high trading volume for Litecoin suggests that it’s a popular choice for a lot of investors, so if you want to sell, you can easily find buyers.
Another reason why Litecoin is famous for a lot of crypto investors, especially those who are starting to build their investment portfolio, is it is much lighter to invest in compared to Bitcoin. Currently, the Litecoin price is at 0.0061 BTC.
- Simpler Algorithm
One of the advantages of Litecoin compared to other cryptocurrencies is its simpler algorithm. Litecoin uses the scrypt-hashing algorithm compared to the SHA-256 hashing algorithm that cryptos like Bitcoin are using.
And while both algorithms are extremely powerful, the SHA-256 has become increasingly complex over the years. On the other hand, the scrypt-hashing algorithm of Litecoin makes the system more accessible to miners. With the simplicity in terms of Litecoin mining, many Bitcoin miners who have found Bitcoin mining a bit too struggling has transitioned over to Litecoin.
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- Better Security and Speed
If there is a consistent issue when it comes to a Bitcoin’s blockchain, it can either be the transaction fees or the settlement times or both. One of the advantages with Litecoin, at least for now, is how well it speeds up the transaction settlement times, which ultimately leads to lower transaction costs. The Segwit blockchain upgrade that Litecoin uses helps boost the original capacity of its blockchain, making it better in terms of security and speed.
- Listed in All Major Exchanges and Wallet
Litecoin is leveling up with the bigwigs in the crypto world. For ethereum and Bitcoin news, the two cryptos have been on the top list in the crypto world, being the only two cryptocurrencies that are listed on all major exchanges. However, Litecoin has joined in that tight-knit list as well. Last year, Litecoin was listed on Gemini, which is considered as the most popular exchanges in the world.
With all the positive Litecoin news and all the ways it stands out in the crypto world, even against the most popular and established cryptocurrencies right now, Litecoin is increasingly becoming one of the must-have digital investments.