As you all know, bitcoins are ruling the crypto market. Although bitcoins are the most famous cryptocurrency, Litecoin has become one of the most widely used cryptos. Many people are investing in Litecoins due to their low price and massive return on investment. But the thing is, they always want to know if Litecoin will give returns like bitcoin or not. If you’re interested in knowing the best cryptocurrency exchanges, visit this link for more info.
First, you need to know why people are getting so attracted to bitcoins and what is the reason behind their massive success. As you all know, bitcoin was invented after eight years of starting Litecoin, also based on bitcoin’s blockchain technology.
Litecoin was released in 2011 by Charlie Lee, who served as director of engineering at coinbase and he is currently the managing director of the Litecoin Foundation.
9 ways Litecoin can be more valuable than bitcoin in the future
Here’s a list of 9 ways how Litecoin might be valued more than Bitcoin in the coming years:
- Litecoin’s price is just $4.7, while bitcoin’s price is $17,000 at present. So, you can understand the considerable difference in prices. If Litecoin can beat bitcoins in the future, it will be an excellent opportunity for investors to get huge benefits on their investments.
- Litecoin has gained popularity in recent years because of its low cost and high investment return. In comparison to Bitcoin, Litecoin not only confirms transactions faster, but it can also handle a more significant amount of operations per second.
- Litecoin’s speed is much faster than bitcoin’s, and it takes around 2.5 minutes to generate a block while generating one block takes 10 mins in bitcoin.
- Litecoin transactions are completed within 2.5 minutes, while bitcoin transactions take around 1 hour to complete.
- Litecoin’s market capitalization is around $2 billion, which is also huge in the crypto market, so you can understand that if Litecoin is more valuable than bitcoins, it will surely increase its market cap value.
- Litecoin trades between bitcoin and Ethereum, but still, it is doing pretty well in the crypto market.
- Litecoin is worthless because of its low price, where investors are more interested in investing their money in higher valued coins like bitcoin and Ethereum.
- Litecoin was invented after eight years of bitcoins, so it is evident that the coin will give returns like bitcoin, and if it happens, you can expect Litecoin to beat bitcoin in the future.
- If Litecoin can rise in the crypto market because of its low price, it will increase when its users increase.
8 negatives of Litecoin compared to bitcoin
- Litecoin has low value in the crypto market because of its low price, just $4.7, while bitcoin’s price is more than 17,000 dollars.
- Litecoin’s market cap is way too less than bitcoin and Ethereum.
- Litecoin does not have huge trading volume in the crypto market, one of its negative points.
- Litecoin can easily be broken because it uses a script algorithm, so you cannot mine Litecoins on ASIC hardware. Instead, you need to do it with graphic cards or CPUs.
- Litecoin is not a new currency, but people are thinking of it as a new currency, and that’s why its value is not increasing at the same rate as bitcoins.
- Litecoin is slower than bitcoin because it takes 2.5 minutes to generate a block while developing one block will take 10 mins in bitcoins.
- Hackers can easily break Litecoin because it uses a script algorithm, so you need to use other expensive hardware components.
- Litecoin is also a potential coin, and it can surge its prices more because of its low cost, so you can easily invest in Litecoin to get huge returns on your investments.
If Litecoin can beat bitcoins, it will surely surge its prices in the market. On the other hand, suppose Litecoin adjusts itself with bitcoins, then it will be challenging for Litecoin to get capitalized in the crypto market.
Litecoin has enormous potential in the crypto market, but it needs to overcome its negative points. If Litecoin can do this, it will surely be one of the substantial companies in the crypto market.