Home Litecoin Is Litecoin Still a Good Investment in 2021? • Benzinga Crypto

Is Litecoin Still a Good Investment in 2021? • Benzinga Crypto

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Determined Litecoin is an effective funding? You should purchase LTC on Coinbase or WeBull.

Litecoin is a peer-to-peer cryptocurrency community and open-source undertaking that expands upon the unique know-how behind Bitcoin. Litecoin was among the many 1st altcoins to enter the market and is at the moment the seventeenth largest cryptocurrency on the earth in market capitalization. Litecoin gives a lot of tradeoffs for customers in contrast Bitcoin, together with sooner processing speeds and decrease transaction prices.

Merely Put: Is Litecoin a Good Funding?

Whereas Litecoin does structurally enhance upon Bitcoin’s know-how, it nonetheless presents dangers to traders. Litecoin’s quickly getting old infrastructure is now not as distinctive because it was when the coin debuted in 2011, with many altcoins now providing the identical advantages and effectivity. Litecoin’s founder, Charles Lee, additionally bought his stake in Litecoin in 2017, which has affected investor confidence. 

Litecoin’s main purpose was to create a model of Bitcoin that’s extra scalable and geared toward small funds. Whereas it does obtain this purpose to a sure extent, newer blockchain improvements resembling Stellar Lumens do a significantly better job than Litecoin. In 2021, Litecoin is formally a dinosaur coin, and presents particularly excessive threat for a prime 20 crypto undertaking. For extra fashionable altcoin choices, see Best Altcoins in 2021.

The place to Spend money on Litecoin

Investing in Litecoin (or another kind of cryptocurrency) sometimes begins by opening an account with a crypto trade. A crypto trade gives you entry to a buying and selling platform the place you should purchase and promote cryptocurrencies by putting purchase and promote orders.

There are dozens of exchanges providing entry to the cryptocurrency market. A few of the elements you may need to think about whenever you select a dealer may embody:

  • Coin entry. There are literally thousands of cryptocurrencies in existence, and no single dealer will permit you to purchase and promote all of them. It may be useful to make an inventory of cryptocurrencies past Litecoin that you just need to put money into to ensure that the dealer you select suits all your wants.
  • Buying and selling platform. Some crypto brokers concentrate on offering a easy, streamlined ordering course of, whereas others attraction to extra superior traders with charting platforms and evaluation instruments. Your expertise buying and selling will decide which sort of platform is finest in your wants.
  • Charges and commissions. Most cryptocurrency brokers cost a price or fee on every crypto buy or sale you make. Analysis every dealer’s price schedule earlier than you open an account, as charges can shortly minimize into your income in the event you’re a frequent dealer.

Unsure the place to start your search? Think about opening an account with a number of of our favourite beginner-friendly exchanges providing entry to Litecoin.