Everyone knows what Bitcoin is but Litecoin? Why is Litecoin getting popular and rising in insane growth?
Litecoin started out pretty early compared to all the other altcoins. It started from 2013 as a similar version to Bitcoin. It is actually a copy of Bitcoin but there are unique features that makes it stand out apart for the original coin. Charlie Lee is the developer of Litecoin and he has been the face in front of the coin. The continuous feature of Litecoin across media and news has been a strong point and it continues to become one.
So How is Litecoin different from Bitcoin or any other altcoins? First of all, it is the most similar to Bitcoin but it differs in transaction fee and speed. Bitcoin takes around 10 minute and a large fee that varies in order to transact. However for Litecoin, the speed is 4 times faster with a lot less fee involved. These facts is what entices people to Litecoin as a Currency, less as a store of value. With these amazing features, Litecoin can be seen as the "better" coin; however, in terms of price, Bitcoin is way ahead.
Another thing different with Litecoin is that it is more suitable as a currency than Bitcoin. Litecoin currently costs way less than Bitcoin and has faster transaction speed and lower fee. As a currency, it is much superior to Bitcoin. The cryptocurrency started with a goal in mind; a decentralized currency that can be used without an authority that controls the cycle and the flow. With Litecoin, this is more possible because it is heading towards the ideal currency that can be used by everyone across the world. As for bitcoin, it is turning into more of a store of value rather than a currency. As Charlie Lee said, Bitcoin is like gold where you hold onto the product for its value rather than to exchange on a daily basis. But for Litecoin, it is like Silver where it is easier to be exchanged as a daily product and attempts to become an ideal currency.
Now what is Litecoin upto these days? Well, if you look at the Litecoin chart, it has been growing and growing. As for the year growth, it is up now at 1821%! That is simply shocking! The growth potential for this coin is limitless and I cannot believe how far it's been. Compared to Bitcoin, this price is nothing but it is not about the current price; rather, it's the growth rate that matters. Litecoin has insane growth rate and it's been increasing more and more. Every week or so, Litecoin has grown by couple more dollars and this has been a continuing trend. I am excited to see where Litecoin is at by the end of 2017 and is excited for more to come!
I am not a financial/crypto expert so please do your own research before making your decisions. I am not responsible for any actions that you take.
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