What Is Litecoin
Litecoin (LTC) is another type of cryptocurrency very similar to bitcoin; it was developed by Charlie Lee on October 7, 2011. Litecoin was developed to be the “silver” to bitcoin which is “gold”. Every 2.5 minutes a new block of litecoin is added to the blockchain, the miner receives 50 units as a reward. There will only be 84 million created which is four times as much as bitcoin. Many experts believe litecoin and bitcoin have a 1:4 ratio because of the small amount of units that will be produced. Litecoin is the sixth largest cryptocurrency behind bitcoin, Ethereum, Ripple, NEM and Ethereum Classic.
Bitcoin .vs. Litecoin
Although litecoin and bitcoin are almost identical there are a few key differences. Litecoin can be mined four times quicker than bitcoin which takes 10 minutes. Bitcoin uses the algorithm of SHA-256 and litecoin uses Scrypt. They two units also have transaction differences. Litecoin can handle a much higher volume of transactions because of its faster block generation. Bitcoin would require advanced updates to match this speed. One disadvantage of a higher volume is that the litecoin blockchain is much larger than bitcoin, which means more blocks will become orphaned. The faster block speed of litecoin will reduce the possible risk of double spending transactions. Bitcoin is currently trading at $4300 and litecoin is trading around $70.
Invest in Litecoin (LTC)
In our opinion we believe litecoin is very undervalued, trading at a 1 to 61+ ratio in recent months to bitcoin. We believe their will be a correction to show a true gold to silver ratio in the near future of 1:4 due to the amount of coins that will be created for each. If the price of bitcoin didn’t change a fair value of litecoin using this value would be about $1075 a unit. As the value of bitcoin increases so does litecoin, which is significantly cheaper than bitcoin to invest in now. The best part about investing in litecoin is after your first purchase of $100 or more you will earn a free $10 worth of bitcoin by clicking here.
Litecoin (LTC) is another type of cryptocurrency very similar to bitcoin; it was developed by Charlie Lee on October 7, 2011. Litecoin was developed to be the “silver” to bitcoin which is “gold”. Every 2.5 minutes a new block of litecoin is added to the blockchain, the miner receives 50 units as a reward. There will only be 84 million created which is four times as much as bitcoin. Many experts believe litecoin and bitcoin have a 1:4 ratio because of the small amount of units that will be produced. Litecoin is the sixth largest cryptocurrency behind bitcoin, Ethereum, Ripple, NEM and Ethereum Classic.
Bitcoin .vs. Litecoin
Although litecoin and bitcoin are almost identical there are a few key differences. Litecoin can be mined four times quicker than bitcoin which takes 10 minutes. Bitcoin uses the algorithm of SHA-256 and litecoin uses Scrypt. They two units also have transaction differences. Litecoin can handle a much higher volume of transactions because of its faster block generation. Bitcoin would require advanced updates to match this speed. One disadvantage of a higher volume is that the litecoin blockchain is much larger than bitcoin, which means more blocks will become orphaned. The faster block speed of litecoin will reduce the possible risk of double spending transactions. Bitcoin is currently trading at $4300 and litecoin is trading around $70.
Invest in Litecoin (LTC)
In our opinion we believe litecoin is very undervalued, trading at a 1 to 61+ ratio in recent months to bitcoin. We believe their will be a correction to show a true gold to silver ratio in the near future of 1:4 due to the amount of coins that will be created for each. If the price of bitcoin didn’t change a fair value of litecoin using this value would be about $1075 a unit. As the value of bitcoin increases so does litecoin, which is significantly cheaper than bitcoin to invest in now. The best part about investing in litecoin is after your first purchase of $100 or more you will earn a free $10 worth of bitcoin by clicking here.
Disclaimer: This is not investment advice; these are just my own opinions. Only invest the money you can afford to lose.
Disclaimer: This is not investment advice; these are just my own opinions. Only invest the money you can afford to lose.
