Litecoin is a global payment system independent of the company and central authorities. A user anywhere in the world can send a payment to another person in a few seconds. Users control their finances on their own, which relieves them of traditional third-party financial institutions. As the BTC “little brother”, it received the unofficial name as “digital silver”.
The Litecoin team took into account the BTC disadvantages, having a shorter interval between blocks as 2.5 minutes instead of 10 minutes, and an alternative hashing algorithm called Scrypt.
Litecoin gained trust due to its unusual openness for its time. It was launched in 2011 by Charlie Lee, a Chinese-American programmer at Google. Charlie Lee did not try to challenge the primacy of Bitcoin and immediately positioned his fork as a “light version” of BTC.
The exchange rate of LTC in US dollars follows its “big brother” and shows growth in the long term. Until the beginning of 2017, it held about $ 3-4 for a very long time and then began to grow along with other digital assets. In 2020, LTC rate fluctuates between $ 40 and $ 90. On the other hand, LTC/BTC rate is gradually decreasing. If in 2013 1 LTC cost about 0.03 BTC, then in the second half of 2020, under the onslaught of more modern crypto assets, it fell below 0.005 BTC. If the situation does not change, then in a few years Litecoin may take an honorable, but not lucrative place in the “archive” of crypto projects.
Why it`s time to buy Litecoin in 2021
By analogy with the number one crypto coin, Litecoin rate is expected to grow over the next 12 months. This coin remains undervalued and it is able to show multiple growths in the next few quarters. The activity of the network, the hash rate continues to grow, LTC remains profitable for mining farms around the world, and in the light of the $ 100 rate perspective, it can get a new impetus for mining.
According to Coinswitch, the LTC price could eventually reach the $ 600 rate. Capital.com is a bit more conservative with their forecast of $ 67. Prime XBT expects that Litecoin could make it to $ 4,600 by 2021.
The crypto sphere is vast, but if you do not want to risk, choose the coins proven over the years such as Litecoin being among the most stable, promising, and money-making cryptocurrencies.
How to buy Litecoins with Bitcoin
In order to buy or sell LTC with BTC or, for example, convert BCH to LTC it is necessary to have the indicated cryptos and use specialized trading platforms. The value of the digital coins is determined by exchanges and depends on the popularity of the сrypto use in settlements by the real sector of the world economy or the investment / speculative sector.
Godex.io online exchange service is a fast and easy way for buying Litecoin for Bitcoin with a good reputation in the market. The buying process takes no more than 5-10 minutes, registration is not required, there are no purchase or sale limits, the rates are fixed throughout the whole d of the transaction. Use the Godex online converter in order to accurately calculate the exchanged amount. Accurate statistics on trading volumes and rates are constantly available for the customers` consideration.
After purchasing Litecoin, a natural question arises, so what to do next?
There are some options which have the right for life either:
- To sell Litecoin to take profit.
- To leave everything as it is, in anticipation of even greater growth in cryptocurrency.
- To buy something for yourself for Litecoin on the Internet.