How to start paying with Litecoin? Where and how to buy the virtual currency? Check out the forum reviews and exchange rates!
Litecoin is a cryptocurrency that is similar to bitcoin because of the way it works and the circumstances of its creation. However, despite many common features, LTC has several fundamental differences that set this cryptocurrency apart from other popular means of payment. Litecoin is an incredibly well positioned cryptocurrency in today’s market. Currently, we can see LTC in the top 10 electronic means of payment, and there is no indication that it could drop from this favourable position. Litecoin has a capital of over several billion euros, which makes it highly positioned among other major electronic currencies.
Description and information about Crypto Currency Litecoin
Litecoin is one of the first cryptocurrencies. It has been created in 2011. Since then, it has not lost its position on the market and continues to be in the top ten of electronic currencies. It wouldn’t be an exaggeration when we said we consider Litecoin to be one of the elements responsible for raising the prestige of the world of cryptocurrencies. It may not be up to par with Bitcoin’s highest price, but it is still worth much more than hundreds of other online currencies. LTC is also one of the first, few altcoins. Altcoins are cryptocurrencies that were built on the foundation of Bitcoin’s success. The creators of altcoins hoped that they would be able to follow in BTC’s footsteps and thus recreate it. Unfortunately, the reality turned out to be different. At the turn of 2011 and 2013, many altcoins were created, and Litecoin is one of a few of them that managed to survive at all. Dozens of other coins have completely disappeared from the cryptocurrency market while Litecoin is still hugely popular even today. LTC owes its popularity to, among other things, innovative ideas of its creators and many modern security features that make it an extremely safe and easy to operate cryptocurrency.
Many people refer to Bitcoin as digital gold because of its tremendous results. If we consider Bitcoin the equivalent of gold in the electronic world, we can safely say that Litecoin is the equivalent of silver in this universe. The goal of LTC developer Charlie Lee was to develop a faster and cheaper version of Bitcoin. Perhaps this was the reason why Litecoin managed to gain recognition and popularity on the market. It certainly contributed to strengthening its position. On the other hand, however, one should remember that many people had the same idea as Charlie Lee, and only he managed to create an Altcoin that has held its high position in the market for such a long time. By comparing LTC with BTC, we can conclude that, due to Litecoin‘s fluctuations in the past, it‘s like the little brother of Bitcoin, constantly following in the big coin’s footsteps.
Where and how to start investing in Litecoin Crypto Currency?
If you plan to invest in Litecoin, there are several important aspects to keep in mind. First of all, you must remember that LTC is a currency like any other. It behaves similar to traditional and other digital currencies. This means that it is not a system like bonds or an of investment stock. Litecoin is used to exchange for other currencies or simply for long-term investments that will allow the currency to be sold at good prices. For example, if you buy Litecoin for PLN 200 per item, you will probably want to wait for its value to increase by at least 20-30% in order to sell LTC at a price that will cover the commission on the transaction and additionally provide the currency holder with a profit. If you decide to make such an investment, where can you actually do it? As most people can easily guess, you can’t perform this type of transaction at your stockbroker or bank. To start your investment adventure, you need to set up a digital wallet that will allow you to trade electronic money.
Reviews for Litecoin Crypto Currency. What do they write in the forum and in the press?
What can be said about the public opinion on LTC and the feedback from users who have traded with this cryptocurrency over the years? Thanks to the fact that the creator was well informed about the cryptocurrency market at the time of developing the currency, he adapted his product to the local needs, which allowed Litecoin to start its life in an extremely beneficial way. An intelligent marketing campaign and a friendly community of customers have developed a strong community over the years, happily using LTC, even 9 years after its inception. A huge breakthrough for Litecoin happened in 2013. The event that certainly influenced LTC’s notoriety was Coinbase’s recruitment of the cryptocurrency creator. At the end of 2013, you could see a sharp increase in the market price of Litecoin, which further stimulated its popularity. The highest price levels of Litecoin were recorded in 2017. The rates were authenticated by the Coinbase exchange office, thanks to which LTC appeared in online magazines and the press multiple times.
Since then, many people have started using Litecoin as a kind of test tool. Due to the great similarity to Bitcoin, both due to the circumstances of its creation and popularization, as well as the methods of using Litecoin, it has become a test network for people interested in BTC. Many developers interested in adding new solutions for Bitcoin first implemented them on Litecoin to observe the effects of their actions. This practice is still valid today. You could see this kind of activity especially after 2017, and because of the beneficial effects of treating LTC as a good test tool, developers are still keen to test a variety of features on it. The people behind LTC make it easy to test new solutions and technology designs, so we can expect them to gain even more followers in the market over time.
Where and how to buy Litecoin? What Stock Exchange will be the best?
People often say what some of the best and safest wallets are operated by Coinbase. Coinbase is a company that allows you to sell and buy the most popular cryptocurrencies. In their exchange office offer you will find items such as, for example, Bitcoin, BTC Cash, and the aforementioned Litecoin. However, Coinbase is an exchange that is a few steps ahead and, along with the possibility of buying and selling, allows its clients to store cryptocurrencies. Thanks to the fact that they connected their exchange with a digital cryptocurrency wallet, you can use the funds obtained in Coinbase to pay for online services immediately after the purchase. However, you must always remember that each cryptocurrency you invest in carries a certain risk. Therefore, investing in LTC carries a certain risk of losing money in the event of unfavourable price fluctuations on the cryptocurrency exchange.
Nevertheless, due to the fact that LTC is an easily available and affordable means of payment, it is worth trying your hand at, at least on small amounts, to see how you will do with investing in digital currencies. No one knows if Litecoin prices won’t increase several times over the course of the next few years.
Litecoin rates – most reliable source
People interested in investing in cryptocurrencies should certainly regularly visit reliable sources providing information and rates. What should attract the attention of future Litecoin’s investors? Can you say if Litecoin is a good investment for 2020 using today’s rates? For this purpose, let’s take a look at the information provided by graphs posted by a trusted source, Coinbase. An unusual surprise awaited anyone who decided to invest in LTC in early 2019. The first few months of 2019 were the best Litecoin prices in history. Its price at that time has almost doubled. Litecoin, similar to Bitcoin, has an extremely interesting investment history. When you take a look at its charts, you can see that, in some periods, LTC rose and fell by up to 400%, which certainly allowed many people to get rich. It is also worth bearing in mind that a Litecoin halving took place in 2019, which reduced the amount of blocks mined via mining equipment.
It turned out, however, that the reduction in the number of blocks mined did not affect the current LTC prices. Also, keep in mind that Litecoin has not been able to keep its price too high over the years. It’s worth noting its rate at the end of 2019, as this was the time when its historical high scores began to gradually decline. Despite the fact that its results are several dozen times smaller than what Bitcoin had to offer over the years, one must admit that this currency still makes a pretty good impression. In 2019, people who made regular investments in LTC could increase their capital by up to 40% by selling the cryptocurrency in a timely manner.