Litecoin

Bitcoin is one of the hottest investments going around.

But there are a whole host of other cryptocurrencies circulating the market nowadays. And they each offer something unique.

Litecoin is no different. Think of it as the silver to bitcoin’s gold. It’s similar but has a few small tweaks.

What is litecoin?

Litecoin was released to the world in 2011 by Charlie Lee, a former Google employee. His goal was to make some improvements on bitcoin without changing the underlying technology.

In fact, litecoin was split, or ‘forked’, from the original bitcoin blockchain. They’re practically siblings.

What separates the two, though, is how they operate. Litecoin processes transactions faster. Cutting down time and costs compared to bitcoin.

It makes for a great alternative currency that solves a few of bitcoin’s smaller problems. Whether that means catering to a niche market, or finding new ways to differentiate itself, litecoin has potential. This isn’t a one-horse race.

Opportunity in more than bitcoin?

As we said, bitcoin is the currency that is always in the spotlight, so why bother with other coins? Well, let’s not forget that it’s still very much a nascent market. Bitcoin is on top now, but it may not stay that way.

There is always room for competition, and litecoin is a great alternative.

However, the great thing about cryptos is that, like fiat currencies, there is room for diversity. While we can’t see every coin in existence being successful, there is still merit to multiple cryptocurrencies operating in a shared market.

Litecoin has the luxury of being one of those that is likely to stake a claim to this market. They’ve been around for a long time by crypto standards. They’ve got credibility, and they’re relatively stable too.

Diversity is a great way to hedge yourself against volatility, and litecoin is one of the easiest ways to dip your toes into the world of altcoins.

We’re simply here to provide you with the facts and keep things simple. This is a very fast industry but, if you’re willing to take the time and learn, it can be extremely rewarding. Whether you’re an active crypto investor, or just looking for news, we cater to everyone.

Risky business

Make no mistake, there are risks involved with any crypto investment. It’s a lawless minefield that has a lot of uncertainty. It’s the Wild West of investing — you don’t want to get caught with a dead draw.

There are a lot of coins out there that just aren’t going to survive long term. We can’t say for certain which will survive and which will crash and burn, but we always make sure we stay informed.

And that’s what we want to make sure you understand — being informed is crucial.

This is a sector that is either going to be a flash in the pan or a financial revolution. There is no middle-ground.

If you’re willing to bear the risks of what could be a once-in-a-lifetime opportunity, we urge you to join us in being part of this unfolding cryptocurrency revolution.

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Money Morning Australia