When deciding between LTC and BTC, what would you choose? On the one side, Bitcoin is the oldest and the most expensive cryptocurrency. For now, it doesn’t look like the BTC price growth is going to stop or even slow down. Ok, the coin is volatile, just like any other cryptocurrency. But the bullish trend over time is evident. On the other hand, there are a lot of alternatives to Bitcoin, and some of them look pretty promising.
One of the most viable alternatives is Litecoin. While the project was not launched to compete with Bitcoin, Litecoin is still now one of the major competitors of the main cryptocurrency.
So, to choose a coin to invest it wisely, you shall know how these coins are different from one another and what their similarities are.
Bitcoin and Litecoin - What to Invest in?
Before you start looking for a reliable LTC to BTC exchange to swap your Bitcoin, make sure you are going to do a wise step. Let us check what coin is better to invest in and why.
Bitcoin is no doubt one of the major investments you can make in the crypto world. However, how long is it going to take a major position in the market?
We all know that Bitcoin mining is pretty energy-demanding. So, it is already being criticized widely for its non-ecological approach.
On the other hand, the main aim of Bitcoin is to serve as money. And we shall admit that the coin performs this function successfully. For now, it is one of the most widely accepted cryptocurrencies. Needless to mention that this crypto is also the most expensive.
Investing in Bitcoin can be pretty promising. Even though now, when the crypto price has surged to immense levels, and many people believe that the best time for investing in it is over, it is not completely correct. The coin value is increasing rapidly, and one can buy not one coin but a small part of it.
So, investing in the father of all cryptocurrencies still makes sense. Moreover, it is forecasted that the value of this crypto is going to increase.
If you believe though that none of the established cryptos is suitable, check LCX price or any other coin, and try your luck with it.
If you prefer something more established, you can have a look at the “silver” of the crypto world - Litecoin. It was founded two years later than the main cryptocurrency and is a fork from BTC.
Litecoin was never meant to compete with Bitcoin. But due to their similarities, LTC is one of the main competitors of the main crypto.
Litecoin applies a different algorithm than Bitcoin. The LTC algorithm is called Scrypt. Thanks to it, LTC has some benefits compared to the main crypto such as:
- less energy-demanding mining;
- a bigger block size that ensures a higher scalability level;
- a higher speed of transaction confirmation in the network.
So, if you are looking for a good option to invest in, LTC can be your choice. While it can be hardly believed that its value can come to the BTC level, but still, it might bring some profit in the long run. Or, as we have already mentioned, choose a new cryptocurrency that has just started its way, and try with it.