Litecoin is a screaming bargain at the current price. Anytime you can get LTC for below $80.00, it is a great buy and is heavily discounted. LTC will become the global choice of daily usage for goods and services. Bitcoin has solidly become a store of value. No one wants to use Bitcoin to purchase their favorite coffee or pair of shoes. Litecoin, however, will fit that bill.
Charlie Lee set out to start Litecoin as Bitcoins little brother. If Bitcoin is Gold than Litecoin is the Silver of crypto currencies. LTC has a total number of 84 Million coins versus Bitcoins 24 Million. LTC has a 4 to 1 ratio to BTC. LTC uses the algorithm of Scrypt versus BTC's SHA-256. LTC is designed to have shorter block times and has instituted a halving of every 840,000 blocks versus BTC's 210,000 blocks.
LTC has instituted many advanced features that BTC is lagging behind. LTC has the lightning network and atomic swaps features. LTC will also be able to implement smart contracts. BTC will have these features over time, but LTC is moving now on these features. Many in the crypto space view LTC as a test bed for BTC. To some extent this is true.
LTC has great stability and a fantastic Network effect. For a crypto currency to be successful it needs a global network of users and supporters. LTC fits that bill. Over the next few years more and more people (millions) will come into the crypto space. These "Newbies" will rely heavily on all of us "veterans" who have been in crypto for a while. They will be seeking advice and asking which crypto's do we use or hold in our portfolio. A large percentage of crypto currency veterans use and hold LTC. LTC has been and is one of the top 5 crypto's since the beginning of this FinTech evolution in and around 2010.
The number one aspect of crypto currency investment and adoption is patience. It is important to be patient and let time be on our side. Earlier this year, many got spoiled by participating in ICO's and doubling/tripling there money in just weeks. The industry is slowing now as far as flipping coins. Now when an ICO comes out it is taking months if not over a year for the ICO token team to develop their product and be ready for the global market. Holding onto your favorite ICO coin will pay off over time. We may now have to wait 12 to 24 months to reach triple gains but it is coming!
Steady and sure is the course to hold. Persistence will be rewarded in the crypto space. LTC is a steady rising star of crypto's. It will not be long before LTC is in 3 digit territory. We will look back at the days when LTC was available below $100.00. Now is a great time to gain more LTC coins. I use dollar cost averaging to accumulate my crypto's including LTC. This is not financial advice, just a strategy that I have used from the beginning of my crypto involvement.