Cryptocurrencies are hot right now. If you’re just getting started, it’s easy to make the mistake of thinking that investing in Bitcoin (BTC) or Ethereum (ETH) is the “smart” thing to do. They’re both significant cryptocurrencies but are still limited by what they can do. The same goes for Litecoin — a newer cryptocurrency with a far smaller market cap than some of its more established peers. However, one primary reason Litecoin is worth considering as part of your crypto portfolio. For more details visit this the crypto superstar website!
It’s fast.
Litecoin can process transactions faster than Bitcoin. This is because Litecoin uses a different algorithm for mining and verifying blocks, which means it processes blocks every 2.5 minutes instead of 10 minutes for Bitcoin. This means that the network can handle high transaction volume more than Bitcoin, making it an attractive option for people who want to send payments quickly or use their currency as a form of digital cash (like PayPal).
It’s cheap to use.
Litecoin is one of the cheapest cryptocurrencies to use. You can send and receive Litecoin with no transaction fees, which makes it ideal for online payments or micropayments. The cost of sending a single Litecoin transaction is around $0.50 at the time of writing. In contrast, Bitcoin’s cheapest transaction costs $3, and Ethereum’s average fee is $1-$2 (depending on your network).
Litecoin also has lower fees than other cryptocurrencies like Ripple ($0.005), making it more popular for banking services such as remittance payments or peer-to-peer transfers between friends and family members living overseas who don’t want to spend any money on international wire transfers or currency conversion fees when sending money back home from abroad.
It’s accepted worldwide.
Litecoin is accepted by merchants worldwide. There are more than 100,000 merchants who accept Litecoin as payment for goods and services. This means that you can easily use it anywhere in the world to buy things like food, clothes, and electronics.
It’s easy to use because there aren’t any fees involved when sending or receiving money through Litecoin! This makes it ideal for those with limited access to bank accounts or credit cards due to their location or financial situation.
Its blockchain use is innovative and extremely useful.
Litecoin is the first cryptocurrency to implement a blockchain in a payment system. It was also the first cryptocurrency to implement Segregated Witness (SegWit), which increased block size and reduced transaction fees.
The future of blockchain technology lies with these innovations, which is why you should invest in Litecoin today.
Litecoin is the fifth largest cryptocurrency, with a market cap of around $10 billion.
Litecoin was one of the first cryptocurrencies to use a script as its proof-of-work algorithm instead of SHA-256. This made mining more complicated—but also more efficient in terms of power consumption compared to other SHA256 coins. The increased difficulty led to litecoins being worth roughly 1/10th what they were before their halving event happened on October 25th, 2017 (when blocks were found every 2nd block). This effectively doubled their value from $4 per LTC at a time of halving until February 2018, when prices reached around USD 20 per LTC due to high demand from investors seeking long-term gains rather than short-term profits like most other cryptos do when their prices drop drastically due to something happening outside crypto space such as political events.
Litecoin is one of the best ways to diversify your cryptocurrency portfolio.
Litecoin has much growth potential, but it is still very new. It’s only been around since 2011! This means that Litecoin has only had time to establish itself as a reliable digital currency and become more popular among investors around the globe.
Litecoin is also one of the most accessible cryptocurrencies to start because there are no prerequisites or complicated exchanges needed to acquire your first tokens; all you need is an internet connection and some cash (or credit card).
Conclusion
Bitcoin has come a long way since it was first launched in 2011, with its
payment processing capabilities expanding from just online purchases to offline merchants through exchange platforms such as the bitcoin trading platform. With such strong fundamentals and continued growth, investing in Litecoin may be one of
the most intelligent decisions you can make now.
