Is Litecoin a Good Investment?
In the 2020s, it seems like everyone wants to talk about cryptocurrency. It seems that every news site — big or small — wants to gain clicks by publishing pulpy news about cryptocurrency.
But behind the tabloid-esque headlines, there’s a whole world of technology and investment. Cryptocurrency is one of the best ways to make money in the 2020s, and a good way to embrace the future as well.
But if you want to get involved with cryptocurrency investing, you can’t just pick a random one. You have to pick the best cryptocurrency out there for you.
This article will walk you through one of the hottest contemporary crypto’s, Litecoin, and walk you through whether or not it’s a good investment.
What Makes Litecoin Unique?
One of the most famous things about Litecoin is just how fast its transaction takes to be completed. Litecoin can take up to 56 transactions per second, and has low transaction fees, encouraging as many transactions as possible. Its specialized blockchain also allows the verification of blocks to happen much quicker.
This all stems from the fact that the founder of Litecoin, computer scientist Charlie Lee, felt that the bitcoin blockchain was congested.
Because of this, Litecoin has been considered the “digital silver” to bitcoin’s “digital gold”. It is specifically designed to work better for smaller transactions.
How Is Litecoin Doing?
Most experts agree that Litecoin is about to receive a major surge. Charlie Lee is currently working on a privacy-enhancing protocol. If this works, Litecoin will have Bitcoin beat by a longshot when it comes to the world of privacy.
The lack of security involved in Bitcoin is one of its Achilles heels. Currently, using bitcoin is less anonymous than using cash — which sort of goes against the principles that Satoshi Nakamoto first outlined.
If Litecoin can make this privacy-enhancing technology work for itself, it will likely be unstoppable. The privacy of Litecoin, combined with the quick transactions and low transaction fees, will make Litecoin practically as easy to use as Venmo.
Should You Invest in Litecoin?
We would recommend investing in Litecoin. Its current potential energy is huge, and it’s still highly underrated, so you can get it at a relatively low price.
In the internet age, people value speed and privacy. This is precisely what Litecoin promises to bring to the table. If it works out, they could just be the next big thing.
Check out this article we found on how to buy Litecoin.
Litecoin is a Good Cryptocurrency Investing Option
At the end of the day, Litecoin is one of the most underrated cryptocurrency investing options out there. Its emphasis on state-of-the-art speed and technology is already making it a commonly talked-about cryptocurrency. It’s only a matter of time before it becomes the next big thing and takes over the cryptocurrency world.
For more articles about how to invest in cryptocurrency, check out our ‘business and finances’ section.