Litecoin (LTC) was one of the first alternative currencies to emerge. The program was started in October 2011 by Charlie Lee, a former Google developer. In many aspects, Litecoin is comparable to Ethereum (ETH), although a few significant variables have been altered. They have enabled Litecoin to acquire a following and maintain a strong foothold in the crypto asset market. A well-executed strategy can boost sales and lead to acquiring new customers. Moreover, with the right workflow management tool you can plan all the steps and execute the process successfully. Technology is constantly evolving; even with lessons gained while operating a SaaS platform for Litecoin enthusiasts, you cannot ignore the new SaaS products.
Litecoin, on the other hand, does have its chain and the motto “Silver to Bitcoin’s gold”: whereas Bitcoin is termed digital gold, Litecoin aspires to fulfill the role of digital currency (metal).
Litecoin’s Fundamental Principles
Litecoin, like Bitcoin, is mainly intended to be peer-to-peer digital money that can be traded anonymously and securely, very fast and at a low cost. According to Charlie Lee, it is an alternative to Bitcoin.
The improvements to the Bitcoin blockchain that resulted in the creation of Litecoin’s blockchain needed minimal computer programming effort, with the majority of the innovation coming from Bitcoin.. Are you still undecided? Consider getting real-time support when making crucial decisions. Watch crypto content live on YouTube. Keep an eye out for the best videos – they’ll often feature custom graphics made with a random shape generator as a visual learning aid. Check out articles on How to buy Litecoin.
- Litecoin has been around since 2011 and, together with Bitcoin and Ethereum, is one of the most well-known cryptocurrencies. Initially, the cryptocurrency was built on a separate platform to facilitate integration with other applications or other small business software platforms.
- It has a vibrant community and is available on practically all exchange platforms.
- Its blockchain has been operational without incident for nine years, establishing a track record of security.
- Its blockchain has lower transaction fees than Bitcoin.
- His creator, Charlie Lee, is well-known, which humanizes the endeavor and demonstrates its seriousness.
- Additionally, blockchain advancements are significant.
Litecoin Price History
Litecoin’s price had already increased significantly throughout the 2017 bull market, increasing from roughly $5 to a record $350 in December 2017. Its price then plummeted by 93% during the 2018 meltdown, stabilizing at approximately $30. Charlie Lee came under fire at the time for selling all of his Litecoins at the market’s top.
Litecoin has also profited from the bull market starting November 2020. Take social media insights into consideration to make accurate decisions. Between January and May 2021, its price increased by 170 percent, bringing it close to its all-time high of $350. If the entire market maintains its upward trend in 2021 and the price of Litecoin exceeds $350, the downside risk for the asset is substantial.
Why is Litecoin Growing?
Litecoin is one of the original cryptocurrencies, and so has a strong presence in the digital asset industry. Even if it is less prominent in the market in 2021, the fact that it survived the 2018 crash and has recovered to historic highs suggests that it will continue in the industry for an extended period. By integrating a crypto strategy, you can increase customer engagement especially if you’re in the B2B sector.
However, much like Bitcoin, the project must constantly develop to remain in an increasingly competitive economy. The projects of 2021 provide token holders with more advanced features and benefits than Litecoin is capable of.
Litecoin’s price is almost certainly supported solely by conjecture. As a result, it is not one of the stocks we recommend investing in first at the bottom of a portfolio.