Top 3 Advantages of Litecoin versus Bitcoin

Litecoin has gained a lot of attention over the past year, and for good reason. The coin was created by former Google employee Charlie Lee in 2013 and was forked from the Bitcoin Core client. Lee is still at the helm and the Litecoin Foundation now features 6 full-time core developers and a large and growing community. LTC offers some prime advantages over BTC, and there is certainly much space for both of the coins in the future of the crypto world. Here are three key benefits of Litecoin:

  1. Faster transaction confirmation time (4x faster than BTC) 
  2. Increased storage efficiency due to scrypt usage in LTC proof-of-work algorithm  
  3. More coins to reward miners (84mn to be distributed total compared to 21mn BTC). 

These factors make Litecoin an appealing transactional cryptocurrency, and hundreds of e-commerce stores have already adopted accepting payments in the form of LTC, including Overstock.com! Litecoin's website even lays out methods and instructions for merchants to easily implement LTC payment acceptance on their websites.

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In the last month, 30% of total LTC purchased was in USD - with 50% of the total buys coming from Coinbase. This seems to be a good indicator that more people are discovering Litecoin, and it’s many benefits. After the coin has been beaten up in the bear market over the past few months, it is up 14% on the week and currently trades at $131.91 on popular cryptocurrency exchanges including Coinbase, Bittrex, and Binance.

Hot Coins 🔥 RaiBlocks, Komodo, Bitcoin & Litecoin

Week of Dec 10th, 2017

XRB (RaiBlocks) - We've seen interest in XRB increase dramatically in the past few days, driven by recognition of IOTA (a very similar cryptocurrency). Although while IOTA target Machine to Machine transactions for the Internet of things, XRB target Person 2 Person transaction and is designed as a store of value for micro-payments. Instant transactions, no fees, infinitely scalable, and utilizing a Proof of Stake consensus method, we see XRB as finally getting the recognition it deserves.  The coin is expected to list on a fourth exchange in December, has a new iOS developer working on an iPhone app, and is still a relative newcomer to the top 100 coin charts. 1/20th the total coin supply of IOTA, but only 25% of the price, and with a new whitepaper/community guide written in the past few days. RaiBlocks seems to be undervalued in the short and medium term, trading at $1.15 at the moment on BitGrail.

BTC (Bitcoin) - Bitcoin has been down trending the past few days after a mega surge. With futures going live on NY exchanges this week, I'm not sure anyone knows exactly what happens - but I know traders like to 'buy the dip'. Furthermore, BTC is the grand daddy of crypto at this point and is worth allocating some of your portfolio to in any scenario.

LTC (LiteCoin) - After dropping off the past week, LTC has surged in the past few days, and it wouldn't surprise us to see it continue. What differentiates LiteCoin from Bitcoin is SPEED, while BTC takes 10 minutes to process a block, LTC network takes just a tad over 2 minutes. Another big factor is that Litecoin has the capability to produce a total of 84 million units, compared to Bitcoin's 21 million. Even thought the potential circulation of LTC is 4 times that of BTC, it is valued at 1/150th of the price at $95 right now.... If that isn't enough to convince you, did you forget it's way faster than Bitcoin?

KMD (Komodo) - Komodo draws comparisons to Monero, a project to build private and untraceable networks. Monero is focusing on its status as a privacy-based cryptocurrency, whereas Komodo is focus on establishing an open-source blockchain ecosystem, and it includes built-in privacy options. Komodo It's a bit of a long shot but has a lot of room to run if they deliver on some upcoming road map, and trades at $3.24 on Binance.

 

 

The opinions expressed on Crypto Bull are in no way financial advice and are only opinions. We are not responsible for any losses incurred as a result of reading our blog.