Bitcoin vs. Litecoin: What Are the Differences?
So you’re finally going to take the plunge and invest in cryptocurrency?
You’ve got your eyes on stacking some Bitcoin, but you’ve also heard mumblings about the benefits of Litecoin. So where should you focus your investments?
This guide will break down the pros and cons of Bitcoin vs. Litecoin. You’ll have an idea of which is the better investment for your needs.
Let’s start with learning about what is Bitcoin:
Bitcoin is the original cryptocurrency and remains the most popular choice for crypto investors.
The average person buys Bitcoin with the hope of selling it at a higher price. They see Bitcoin as a digital asset to sell for a high profit.
But the main advantage of Bitcoin is that it’s an alternative form of currency. For many investors, it’s the currency that should replace fiat currencies and fight against inflation. For many, it’s the only cryptocurrency worth holding.
Regardless of your views on other cryptocurrencies, it’s considered wise by most to hold at least a bit of Bitcoin. For many, this is the only cryptocurrency that has a chance of becoming the world’s reserve currency.
It’s also the easiest to buy today. You can earn your salary in Bitcoin, receive it to your hardware wallet, or even withdraw from a Bitcoin ATM.*
*You can use ByteFederal.com to find a Bitcoin ATM near you.
Why have some crypto investors considered Litecoin to be a great investment?
This was one of the earliest “altcoins” to become popular. As Litecoin remains cheaper, it’s become a great investment for those who can’t buy whole Bitcoins.
It was created through Bitcoin’s source code and works in the same manner. It’s also known to have faster transaction speeds than Bitcoin.
However, most investors don’t see Litecoin as an alternative to owning Bitcoin.
As a digital asset, Litecoin’s growth hasn’t performed as well as Bitcoin. At the moment, one can’t expect to become a millionaire or billionaire by selling their Litecoin!
Bitcoin Vs. Litecoin: What’s the Verdict?
So in the battle between Bitcoin vs. Litecoin, which is the one you should consider investing in?
Bitcoin remains the obvious choice. It’s the most popular cryptocurrency and is already being used as an alternative form of currency. It’s likely to continue to overshadow other cryptocurrencies.
Litecoin works as a great supplement to Bitcoin. You might consider using Litecoin for smaller transactions. But in the long run, most investors would rather hold more Bitcoin.
Now that you know the pros and cons of Bitcoin vs. Litecoin, you can choose which is the better option for your needs.
For most of us, Bitcoin remains the best choice. It’s great as an investment asset but also as a form of currency. It’s easier to buy compared to other cryptocurrencies.
Litecoin works great for smaller transactions as it has faster transaction speeds. You might want to buy it as a supplement to owning Bitcoin. Either way, make sure you only invest what you can lose!
You can find even more Bitcoin tips and Litecoin tips on our website!
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