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Why You Should Buy Litecoin (LTC) While It’s Cheap Now

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LTC

Litecoin is generally considered as a peer-to-peer cryptocurrency and open source software project that is released under MIT/X11 license. The creation of the coin is based on the open source cryptographic protocol and thus it is not managed by any central authority. Technically, Bitcoin (BTC) is almost identical to Litecoin but it is far quicker and cheaper. According to the views of the cryptocurrency market experts, Litecoin pricing acts in a more rational manner than Bitcoin and it has a more sustainable future. The value of the Litecoin depends on the demands of currency trading websites like Bitfinex, OKEx, GDAX, and Coinbase. In the current scenario, some online stores, in fact, started to accept cryptocurrencies to buy products like jewelry, groceries, clothes and other important stuff.

Litecoin (LTC) is known to be the next best thing to Bitcoin. This cryptocurrency was launched a couple of years later after Bitcoin and it has a few aspects which make it acceptable to the present day crypto investors, users, and traders. This coin is growing at a fast pace and it is already taking the initiative to close the gap on Bitcoin. It is true that the recent crypto slump has brought the Litecoin down to $122.7 and this is the best opportunity to buy the Litecoin when it is cheap. Some of the good reasons to buy Litecoin are discussed below.

  1. Better than Bitcoin:

Most people tend to invest in altcoins because of the early investors’ reliance on Bitcoin. Like, those many new investors want to buy coins at a cheap rate and want to become richer. For this reason, it is the best time for you that you should invest more on Litecoin. Although it is much like Bitcoin it is better than it. It generally uses proof-of-work algorithm but it is ASIC resistant and allows both CPU and GPU miners. The network of Litecoin is as secure as Bitcoin. Although the price of LTC fell from around $300 and to just the above margin of $100 but still it is better than other crypto coins because of its stability. However, the trading price of Litecoin has started to rise and thus it is the ideal time for you to buy Litecoin.

  1. Litecoin’s association with Abra app:

Abra app allows the users to trade crypto-fiat, crypto-crypto pairs and fiat-crypto. Through Abra App, you can avail 20 cryptocurrencies and 50 fiat currencies. For this, the users need to buy Litecoin first and then they can use this for future trading in the app. This app, in fact, uses Litecoin to access smart contract as Litecoin transactions are faster and scalable with a much more secure network.

  1. The launch of Litecoin Core:

Litecoin was not much affected by the recent bearish trend in the crypto market because of the release of Litecoin Core. The investors still believe in Litecoin and the price of the Litecoin remained above $100 mark. This actually contributes to Litecoin’s stability gaining the confidence of the traders.

  1. Gemini Exchange Lists:

The Winklevoss Twins’ Gemini exchange is considered as one of the world’s most popular crypto exchanges. This exchange has listed Litecoin on their portal. They have allowed the users to trade in Cryptocurrency according to their basic requirements. As the exchange has a large pool of users, a listing of Litecoin in their portal will increase the trading in Litecoin.

The Advantages and Disadvantages of Litecoin as a Short Term of Investment

The short-term investment generally means 1-12 months of investment. Some of the advantages and disadvantages of short-term investing in Litecoin are discussed below.

Advantages:

  • High Trading Volume:

Litecoin is a popular choice for the investors because of its high trading volume, which means you can easily find the buyers.

  • The huge expectation in 2018:

Charlie Lee, the founder of Litecoin tweeted that there is “One huge unexpected surprise” coming in 2018, in the early phase of 2018.

  • Listed on Coinbase:

The listing of Litecoin on Coinbase attracts more investors. Only four coins are listed on the Coinbase, Litecoin being one of them. This means you can easily buy and sell coins.

Disadvantage:

The only disadvantage is the volatility of the cryptocurrency market. This makes the short-term investment in Litecoin a bit risky.

Conclusion

Litecoin which is already ranked 5 (according to the coincapmarket.com) is not a new name in the realm of cryptocurrency. However, it still undergoes several changes and improvements to tackle the issues that have come up in the history of Litecoin. However, you can invest in Litecoin right now so that you can enjoy the benefits in the near future.

We will be updating our subscribers as soon as we know more. For the latest on LTC, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Blockchain technology outshines Bitcoin and Gold during global pandemic

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As the popularity of cryptocurrencies such as Bitcoin begins to level up with investments made in metals such as Gold, together they have both made significant advantages for investors who have taken a leap to invest in them.

However, thanks to the pandemic and the dynamic shift in investing and the economy, many investors have seen fluctuating losses and gains thanks to the uncertainty of the current business world. 

Many investors that backed companies who have exposure to blockchain technology have seen an approximate amount of 54% return on investments over the past year. This is even after considering how hard the global tech market and companies have been hit since the beginning of the pandemic.

What is blockchain technology?

Blockchain technology was first introduced as a supportive technology for Bitcoin. A blockchain is a simple, unchangeable and un-hackable digital ledger that holds transactions in little blocks attached to a chain. The transaction is duplicated and distributed across the entire network of systems on the blockchain, making it available for everyone on the network to see. 

Each block in the chain contains various transactions which are recorded on the participant ledger every time a transaction takes place. The database is decentralised and is managed by multiple participants known as Distributed Ledger Technology (DLT).

Although blockchain technology was birthed from Bitcoin and was widely adopted for the use of cryptocurrencies, the way it works and its security has made…

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Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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