Cryptocurrencies have acquired a fascination never seen before! Many novices and seasoned traders are keen to experiment with them. Even the volatility of crypto marketplaces does not scare away investors!
The snag is that their knowledge seems majorly limited to Ethereum and Bitcoin. They seem unaware that other coins can also prove equally lucrative. One of them is Litecoin. Like the Yuan Pay App , you can learn more about bitcoin.
However, there is skepticism regarding the safety of investing in this coin. The following five reasons should serve to clarify all doubts.
Reputed Corporations have Faith in Litecoin
Well-known businesses will accept a particular coin, only after checking it out thoroughly. It means that they believe in its usefulness. This belief, in turn, drives up the confidence of investors. Thus, the demand and value of that digital coin increases in the global marketplace.
Associating with organizations, such as Overstock.com, Ultimate Fighting Champion, etc., has driven up Litecoin’s stock. These companies permit their clients to purchase services/goods with Litecoin’s. Even the gaming industry is exhibiting a keen interest in Litecoin. Therefore, you may use Litecoin for some trading deals, at least, if not all of them.
Litecoin Encourages Speedy Transactions
Digital coins fulfill a vital need in the virtual world. They permit peer-to-peer transactions. There is only a sender and receiver involved in them. There is no need for an intermediary or third-party to interfere. Therefore, transactions remain anonymous, private, and secure.
For long has Bitcoin been an integral part of this peer-to-peer transfers. However, its platform is costly, and slow. Therefore, the Litecoin platform proves to be a better alternative. In fact, this blockchain is four times speedier than the Bitcoin one. Developers are working on enhancing the Litecoin blockchain’s speed even further. Thus, investing in innovation can only prove profitable.
Litecoin’s Team of Developers is Innovative
Surveys show that over 10,000 digital coins are floating around in the global marketplace. However, not all of them are worthwhile. Many of them prove only temporarily useful, for they have been developed in a hurry. No one has bothered to assess their prospects. No one can predict if these coins can adapt to technological advancements or not. Therefore, their sustainability remains questionable.
In contrast, Litecoin’s developers took their project very seriously. They brought all their knowledge, skills, and experience to the fore, while developing Litecoin. They featured Lightning Network, and used the Segregated Witness update, for speeding up transactions. Therefore, Litecoin became more efficient and quicker than Bitcoin.
Litecoin’s Market Capitalization is Significant
Market capitalization refers to a certain commodity’s total value, at any given time.
How does this work in the digital currencies arena?
Here, two aspects come into play. One is, how many coins of a particular type are in circulation in the crypto marketplace? The second is, what is the current price of that coin. Multiplying these two figures will provide the answer to the concerned coin’s market capitalization or its total value.
Research reveals that almost 70 million Litecoin’s are in circulation. The number should increase soon. The trading price is touching almost $150. Therefore, Litecoin’s worth is over $10+ billion. Noting this, the crypto charts have currently awarded it a rank of 20. Therefore, investors may rest assured that Litecoin is buffered against unexpected market shocks or volatility in pricing.
In fact, this crypto is great for long-term investments.
Litecoin has Great Liquid Value
Liquidity refers to the capacity to convert a commodity or asset into liquid cash. Litecoin’s liquidity is high. Other coins simply cannot compare with it!
Splendid liquidity is an aspect that should lure investors easily. Whenever they require liquid cash, they may just sell their Litecoin’s. They generally need liquid cash for short-term trading deals, where fluctuating prices are involved. When prices shoot up, investors can easily make profitable deals.
How do you check Litecoin’s liquidity?
Keep a watch over Litecoin’s behavior for 24 hours. Keep track of how many Litecoin’s investors have sold or purchased in the span of 24 hours. At the end of the day, figure out the total. The total refers to Litecoin’s volume. If the figure crosses several million, it suffices to show the marvelous ‘liquid’ power of Litecoin.
To sum up, Litecoin is compatible with any and every kind of digital deal!