1 Level
11 Review
7 Karma
Review on Litecoin by Jo Andy
They promote it and create value so that the coins that they mined themselves…
They promote it and create value so that the coins that they mined themselves would be worth something. not a get rich quick scheme
Pros
- As Litecoin is being built upon Scrypt, this makes it strong as compared to other ALT currencies. It is quite beneficial for the entire ecosystem of crypto currency. Moreover, everything is electronically done and one doesn’t have to use any physical money or credit cards to make any purchase online. Instead you can use your electronic currency thus, can keep your financial information safe and secure. With Litecoin you get the possibility to make purchases anonymously. Litecoin confirms in 1/4th time as done by Bitcoin which is yet another benefit of the same.
Cons
- Since, litecoins are not managed by any central authority, it sometimes make you feel risky while choosing it. If it happens that your coin is stolen or lost then the money is gone and you can do nothing about it. Moreover, the client code is not maintained properly and is based on an obsolete Bitcoin version. Its price is a pure speculation and as of now there are almost negligible applications for Litecoins.
