A quick look at cryptocurrency #9 Litecoin
Today we're going too look at Bitcoin's brother - Litecoin. That coin was created to solve some problems that original Bitcoin has.
Litecoin's block is created every 2,5minutes (Bitcoin 10 minutes) which means, that Litecoin's transactions are way faster and cheaper - transaction costs around $0.12
It has its' own official wallet (Litecoin core - phone, coinwallet - PC)
Apart from Bitcoin, it has the biggest investment into mining machines
Proof of Work feature (basically what mining is)
Litecoin has a fundation (most miners decided to give a part of their rewards for the further development of this project)
Its' technology is way better than most of the "OldBoys"
Let's move to your favourite part, price:
- Date of release 28th April 2013
- Starting price $4.30
- Lowest price $1.20
- Highest price $171.55
- Current price $163.01
Investment aspect:
- Litecoin used its' jetpack recently, so I don't predict the same spike in a month or so, but long-term it's one of the most interesting cryptos for sure
- Being developed to this day, which means, that there still could be some news that would make the price go even higher
- One of top10 cryptos - those are the ones, that 90% of NEW money flows into - which boosts the price on a stable level
Litecoin is the old guy that still stands strong and doesn't intend to go away. What are your thoughts? Let me know!