Litecoin Is A Necessary And Essential Crypto, Charlie Lee Explains
Litecoin was in the spotlight when CEO of the crypto payment processor Aliant said that the company is talking to additional professional sports teams about supporting LTC.
In a brand new interview with FOS, Eric Brown said that Aliant is pushing to build momentum for crypto adoption in the world of sports.
Charlie Lee addresses the advantages of Litecoin
Now, creator Charlie Lee said that there are various reasons for which LTC is a necessary and essential crypto.
In a new interview on the Let’s Talk Bitcoin podcast, Lee talked about the coin’s most significant strengths and its overall liquidity.
“So with shorter blocktimes and cheaper fees [than Bitcoin], it’s quite good for payments, and people use it quite a bit. And it’s also good for testing new stuff. Litecoin’s market cap is a lot smaller than Bitcoin’s. So we can take a little bit more risk and do stuff that potentially Bitcoin would be too conservative to do…” Lee said., as cited by the online publication the Daily Hodl.
He continued and explained that “These network protocols, currencies – they have a network effect. So if everyone’s using it, you want to be using the one with the most liquidity, the one that’s on all the exchanges that you can easily switch back between fiat and cryptocurrency.”
Lee stated that LTC benefits from all this because, for example, “the Chinese exchanges all added Litecoin as a second cryptocurrency.”
Lee also made sure to point out the fact that LTC is on most exchanges these days. People can easily move their money to LTC and BTC and this is helping a lot regarding the onboarding of new users.
You should definitely check out the complete interview to see what else Lee had to say.
In terms of pricing, at the moment of writing this article, LTC is trading in the red and the coin is priced at $44.47.
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.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.