At the moment Bitcoin Ethereum and Ripple are the currency's getting all the attention but there are reasons for this, for example Bitcoin was so close to hitting $3000 and Ethereum reached its new highest $400. Ethereum isnt as well known as Bitcoin but are people going to start hearing "Ethereum" a lot more seeing as £3.11 billion exchanged on 13th June this year.
But in this blog we are going to be talking about Litecoin. At the time of me writing this they cost roughly $52(£42).
There are many pros about Litecoin but right now its on the rise because its on the news, people are talking about it and people are exited about it because some people feel that it may have the potential to rival Bitcoin. Litecoin has also introduced something called Segwit which Bitcoin doesn't have and this neat little code allows faster confirmation time and faster mining time also Litecoin has a fraction of the transaction fee that Bitcoin has.
There are some cons about Litecoin but they arn't set in stone they depend on what the market and other cryptocurrencys do. One of the main cons is that Bitcoin is going to adopt Segwit sometime in the future and this means that when Bitcoin does start to use it that many people will feel that Litecoin is now the same as Bitcoin. Therefore they will no longer need to be part of a small community and they can join bitcoin and be part of a bigger community.
Firstly you need to ask yourself these questions:
Am I trying to make a bit of quick money?
If you answered yes to that question investing in Litecoin is not for you. Litecoins price started to go up at April. and have been precariously going up since then there's not likely going to be a sharp rise in the price.
Do I have the money to waste?
Lets say that Litecoin does just crash and you have some money in it. Are you going to be okay to lose that money and never getting it back? Don't go selling your house and putting it all into Litcoin just for it to crash, only bet the money that you don't need
Make sure you guys take all this into account and take care while investing in Litecoin.
