The hype behind Bitcoin appears to have taken a dive with more digital currencies hitting the market. Investors have a wide choice when it comes to crypto investing. Back in 2017, Bitcoin dominated the crypto space but with the growth of altcoin, Litecoin has stood out as the alternative investment coin.
Compared to Bitcoin, Litecoin stands a better chance of producing more coins than Bitcoin. What’s more; it prides in faster transaction speeds and low fees. Bitcoin uses the outdated SHA 256 algorithm while Litecoin rides on Scrypt.
Litecoin and Bitcoin Transaction Speeds
Litecoin and Bitcoin transaction speeds are worlds apart. Litecoin learned the benefits of fast speeds from Bitcoin. Investors trust fast transaction confirmation speeds and this is where Litecoin is preferred by merchants compared to Bitcoin.
Bitcoin has been labeled the crypto gold and Litecoin the silver but with digital assets anything can happens to overturn these tags. The digital money market is highly dynamic and with more real life use case driven digital coins coming onboard, Litecoin and Bitcoin popularity might soon change.
Choosing Litecoin over Bitcoin
The crypto sphere is highly risky and choosing Litecoin over Bitcoin lies on individual choice. However, the Litecoin price has been steadily rising from a low of $3 to an all-time high of $360. Its strong performance after the market crash has proven that it can still retain the silver tag in the crypto sphere.
When it comes to crypto investment, due diligence is a must. For the short term investor, LTC might not be the best but for the long term investor, it still remains the digital silver. The coin grew by 140 percent early this year a good performance to any investor to think twice.
So how much will Litecoin be worth in 10 years? Well, cryptocurrencies are highly volatile but LTC has shown a lot of resilience setting it up for a bright future. It is possible that the coin will surpass its all-time high and set a new record in the near future.
