5 Reasons Why Litecoin Could Dominate
People looking to buy Litecoin (LTC) and other altcoins, always seem to wait until the last (and often worst possible) moment.
For many people, to buy Litecoin or Bitcoin is to surrender to almost knife edge like uncertainty. Yes, the current Litecoin value in terms of market cap has just topped $5 billion. Yes, the lights are green all across the cryptocurrency market for a $100 price breakthrough before Christmas. The only problem? Well, all of that could easily reverse, couldn’t it?
To put things simply, people looking to buy Litecoin (LTC) (or any kind of digital asset) like to have strong speculative reassurance that they are making a sound investment decision. This being the case, the following 5 reasons why Litecoin could dominate will attempt to provide just this.
History Proves That Buying and Holding Litecoin is Safe
There is nothing worse for digital currency investors than a blindly optimistic approach to buying, selling, and trading digital assets.
After a person buys Litecoin, prices could (and likely will) reverse slightly. This, however, is guaranteed to happen with any digital currency. Much more importantly, such day to day price volatility does not reflect Litecoin’s more consistent long-term growth.
In 2013, Litecoin was valued at $5. What is more, in four years, the digital currency has swung back and forth around the $40 mark. Overall, however, Litecoin has an identifiable trend of only ever appreciating in value in tandem with Bitcoin itself.
Litecoin is Fully Transparent
As well as Litecoin value having risen by an astonishing 2000% in 2017, Litecoin as a digital asset is fully transparent.
With top market cap altcoins like Ethereum, no one really knows how many ICO’s which bring value to ETH are fraudulent. Worse, Ethereum developers openly admit to not knowing how ETH will be developed further, specifically in light of recent blockchain hacking controversy.
The good news for people looking to buy Litecoin? Charlie Lee, Litecoin’s creator, can, conversely, be followed on social media and constantly keeps Litecoin users up to speed regarding on-going Litecoin development and future plans for innovation.
Digital Currency Hasn’t Yet Passed The 1% Mass Adoption Benchmark
Perhaps the single most important reason people should buy Litecoin now is simple. Digital currency hasn’t gone mainstream yet. In progress plans, however, to have Bitcoin futures traded like regular commodities (as well as other works in progress), all point to digital currency going mainstream in 2018. What is more, when this does happen, altcoins like Litecoin will soar in value in tandem with increased demand.
Litecoin Itself is Integral to the Future Success of Bitcoin
At present, almost every altcoin on the cryptocurrency market is attempting to compete with Bitcoin. Litecoin, however, has never even tried to position itself as a standalone altcoin like ETH. Instead, Litecoin is designed to be used with Bitcoin, via the provision of faster and more affordable transaction processing. The success of Bitcoin, in this case, is intrinsically tied to the comparative success of Litecoin also.
Mainstream Investor Interest in Litecoin is Piquing Significantly
As predicted by ourselves prior to Litecoin breaking past the digital currency’s former previous price high of $90, more people than ever before are starting to familiarize themselves with what Litecoin offers.
Forbes magazine, Insider Financial magazine, and even Profit Confidentail, are all begining to see the true investment potential of
Litecoin. What is more, with altcoins like Bitcoin Gold losing investor confidence due to a lack of transparency and a tangible lack of long-term direction, Litecoin will invariably benefit as a result.
Ex-Google engineer, Charlie Lee is the creator of Litecoin and MD of the Litecoin Foundation. Previously Director of Engineering at Coinbase, Lee now focuses full-time on Litecoin. To enhance fungibility and privacy of LTC, integration of MimbleWimble has begun, however Lee has recently announced a crowdfunding launch to fund the development.