Everything you need to know about Litecoins

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Want to know more about the cryptocurrency that ranks sixth among all the largest cryptocurrencies in the world? We present you Litecoin; one of the cryptocurrencies that will surely amaze you. It was first introduced as a replacement to the very popular Bitcoin. But then, with time, it became a complement to Bitcoin. Litecoin sounds so much similar to Bitcoin, and it also has a few functions similar to Bitcoin. For some people, Litecoin is silver, and Bitcoin is gold. That is how these two are connected to each other in the spectrum of cryptocurrencies. We will discuss more Litecoins here, and you will get every bit of information that you need on Litecoins. 

Some interesting facts about Litecoin:

Litecoin is faster and lighter: Litecoin was created to compete with Bitcoins. Bitcoins were the first-ever digital currency available in the world. It is called the forefather of cryptos in the world. The concept of decentralization of the monetary system came from this only. But, there was a problem with the exchanges when Bitcoin Era was found by the experts to make safe and secure trading in Bitcoin. Bitcoins were very heavy and slow. It took a lot of time to finish payment through Bitcoins. Hence, the experts wanted to come up with something better than Bitcoins. Litecoins were designed with the same Blockchain technology used for Bitcoins. But Litecoins are quite fast in nature. The transactions through Litecoins take a lot less time than that of Bitcoins. In the world, 21 million Bitcoins will ever be available. But, Litecoins are available in plenty of amounts; at least 84 million Litecoins are available for the buyers out there for now. Litecoins make a transaction easier, faster, and safer. Bitcoins take around 10 minutes to finish a transaction, whereas Litecoins takes only 2.5 minutes to complete a transaction. 

Litecoin’s founder sold all the coins: Litecoin’s founder is a popular computer scientist. This person wanted to invent something that could compete with Bitcoins and make faster and smarter transactions. It sounds surreal, but he brought Litecoin on the market within one year. After mining only 150 coins, he started the journey of Litecoins. He started promoting not only Litecoin but other cryptocurrencies as well. But people started bashing him for promoting Litecoin. There was a time when he stopped promoting Litecoin, and he only talked about cryptocurrencies. Still, people judged him a lot. Finally, there were only two options left for him; either owning the company or owning a handful of Litecoins. He chose the first option and sold all the coins he owned. But people still continued judging him. Currently, he owns the Litecoin company and preaches for the advantages of cryptocurrencies over traditional paper money. If you have an online business and accept payment online you need to know why and how to accept Bitcoin on your website.

It does not fluctuate a lot: So, why has Litecoin gained so much popularity? Well, Litecoin is available everywhere, and you can buy it from anywhere of your choice. You have to be prepared for a volatile future when you buy cryptocurrencies. Cryptocurrencies do not have a fixed value. One day they show a 50% jump; maybe on the next day, it will come down by 70%. When you are investing your money in cryptocurrencies, you have to be ready for these changes. For example, Litecoin has been in the market for 10 years. Within this time frame, Litecoin has gained a 54% increment in price. But within this time frame, bitcoin showed a 500% increment. But, if you take a look at the brighter side of it, you will see the advantage of Litecoin. Litecoin never fluctuates too much. Bitcoin lost everything it gained suddenly. But, Litecoin is still continuing its journey. One has to be ready for an eventful journey if he invests in cryptos. 

It promoted Cryptos: The most important feature of Litecoin is that it worked a lot for the promotion of Cryptocurrencies. In today’s world, there are a lot of cryptocurrencies and non-crypto currencies. Both of these leagues are doing well. But, when you want to gain something out of your investment, you have to choose cryptocurrencies over anything else. Litecoins have done a lot for the crypto market. People started knowing the advantages of Cryptocurrencies only after seeing the Litecoins. 

Endnote: If one needs to earn some more money in today’s world, he has to invest his earnings. Cryptocurrency is a volatile field, but it generates a lot of revenue for the investor. If the investor can plan the investment properly, he can earn big time from his investments. Buying Litecoin is pretty easy. Only a few thousand USD is required to start investing in cryptos. So, one must not waste his valuable time and start investing in cryptos.