The cryptocurrency market has grown quickly over the last year and has continued to do so in 2018. While everyone is talking about cryptocurrencies, there are still many questions to answer.
Are you confused if you should invest in Litecoin? Not sure whether the price will go up or down?
Well, here’s the good news: All your questions I will answer in this guide. I will cover the basics of Litecoin and share with you our favorite Litecoin predictions. It is difficult to predict the exact future of Litecoin, but we can help you make a better choice.
Litecoin is the 5th largest cryptocurrency, with a market cap of over $12 billion. So, what exactly makes Litecoin so popular?
An ex-Google employee, Charlie Lee, created Litecoin in 2011. Just like Bitcoin, Litecoin is also a digital currency. It is built on the same blockchain as Bitcoin and can be used to make payments. The biggest advantage that Litecoin offers over Bitcoin is – speed. In fact, Litecoin is called “Lite” coin because it is almost four times faster than Bitcoin.
Imagine that you decide to buy your next coffee using Bitcoin — guess how long you will have to wait? Around 10 minutes! This is because 10 minutes is the minimum time it takes to confirm a Bitcoin transaction.
Now, imagine that you pay using Litecoin instead – and surprise! It only takes 2.5 minutes to confirm a Litecoin transaction. So, it’d only be 2.5 minutes until you have your favorite coffee in your hands.
Anyway, before we get into our Litecoin price prediction, lets first explain the differences between Bitcoin and Litecoin.