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Review on Litecoin by SEO Creativo
The second son of the lineage of digital coins, Litecoin has been able to gain…
The second son of the lineage of digital coins, Litecoin has been able to gain a prominent place despite the cumbersome presence of the founder of this new family of currencies, the Bitcoin, and the competition of many younger brothers, from Ethereum to Ripple. The question we are asking today, in a world that is becoming increasingly crowded with new cryptocurrencies, is whether it is still worth buying Litecoin or whether it is rather the case to focus their attention on new and more promising virtual assets. In this article we have summarized the advantages and disadvantages of buying Litecoin: read and discover them with us.
Pros
- For those who want to use it to make purchases, transactions with Litecoin are quicker and much cheaper than those with Bitcoin, the most widely used virtual exchange currency to date. LitePay, a payment system based on Litecoin and aimed at spreading this currency among traders all over the world, has recently been launched. Litecoins can also be obtained by mining, i.e. using the computing power of one or more computers to add a transaction block to the blockchain, the basic structure of the system (a block is rewarded with 25 Litecoins). The same does not apply to all other cryptocurrencies. The value of a Litecoin is still relatively low: investing small or large sums in this currency is therefore much easier. The age of Litecoin gives it some security in the eyes of investors and presents it as a valid candidate to diversify its virtual portfolio. The fact that a ceiling of as much as Litecoin 84 million (four times as many Bitcoins as planned) is envisaged gives investors ample room for maneuver and makes buying interesting even in the medium to long-term.
Cons
- If Litecoin's system is faster than Bitcoin to execute financial transactions, Ripple and Ethereum in comparison are extremely faster. Short-term financial speculation with some of Litecoin's most recent cryptocurrencies, including Ripple, seems more interesting: this currency, for example, has increased by 36,000 %, compared to 5,000 % for Litecoin. There are digital coins with a lower unit value than Litecoin, whose purchase is potentially even simpler. The system of contracts for difference also makes it possible to speculate even with Bitcoins. The evolution of some cryptomonads and their technologies, such as Ethereum with the Enterprise Ethereum Alliance, is supported by large companies and banks. This fact alone makes you understand the importance that some virtual currencies are assuming in the world economy, to the detriment of others.
