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Want a lot of money from digital currency investment, let's look at the prospect of these 2 coins

Written By Hanny & Melissa on Saturday, March 30, 2019 | Saturday, March 30, 2019

https://www.economicfinancialpoliticalandhealth.com/2019/03/want-lot-of-money-from-digital-currency.html
Bitcoin was able to break the resistance level of $ 6500, and Litecoin broke the resistance level of $ 60. In addition, Litecoin was added to the SFOX platform which exposed it to institutional investors. So it's clear, Litecoin is making steps that will ensure its position in the crypto space now and in the future.

But is it good enough to beat bitcoin? Well, it's best to note that this is based on bitcoin with some major differences. So, to really understand it we need to see the main difference between Litecoin and Bitcoin.

Different Between Litecoin and Bitcoin

At the basic level, both share many things, especially because Litecoin was developed as silver from bitcoin. Some similarities include mining, inventory limits, and block prizes divided by two every four years.

Both of these coins also saw the fastest price spikes in 2017. when bitcoin rises from $ 1,000 to more than $ 19,000, Litecoin also goes up from $ 100 to $ 300 at the same time. How ever, some differences distinguish them and they are the only reason that makes a better investment for the future than others.

Quick Transaction

The main difference in the function of these two coins is the speed of the transaction. Here, Litecoin comes far ahead, only using part of the time needed to process transactions on bitcoin. Where bitcoin takes about 10 minutes, Litecoin only takes 2.5 minutes. This makes it the preferred coin for users who make transactions.

Mining algorithm

Although both have mining characteristics, both take a very different approach. Bitcoin uses SHA-256 which makes it difficult to find new blocks. In order to successfully use the SHA-256 algorithm, someone needs professional hardware and ASIC.

This is also considered very complex to use and very few people succeed in bitcoin mining. Mining is largely left to large institutions that are able to buy hardware, operational costs and understand the work process.

Litecoin, on the other hand, simplifies this by using the Scrypt algorithm, this makes it easy to mine with an ordinary PC connected to the internet. This also reduces the amount of power needed to mine.

Needless to say that the creator of bitcoin is still unknown because it only reveals the alias "Satoshi Nakamoto." The Litecoin maker is Charlie Lee, a former Google engineer and a Litecoin evangelist even though he sells his Litecoin coins.

Charlie Lee, founder of Litecoin, previously described Litecoin as Silver and Bitcoin is gold. But, as far as the signs go, this can be the opposite. How ever, large adoption of bitcoin cannot escape attention and that is the main reason why it is stronger in number in the market.

In Your Opinion, Which Coins Are More Suitable For Long-Term Investment ...?

Even though Litecoin is technologically based on bitcoin, this coin has been able to fix the bitcoin deficiencies that make itself better. This prepares it for adoption in the future with investors starting to understand what bitcoin offers.

This coin also continues to establish new partnerships every day, this partnership is very important for the success of coins in the future. They signal the trust and legitimacy of the project.

Another important reason why Litecoin is a better investment for the long term is the current purchase price is low and the potential for return is high.

If you invest in one Litecoin, you will only pay $ 60 how ever, if you invest in one bitcoin, you have invested $ 6,500 and stood to get $ 19,000, but you will lose $ 6,500. It is best to invest in investments that at least make you lose but still stand to produce the best for you.

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