Are you in Cryptocurrency trading business and looking for a reliable Cryptocurrency? Then you should definitely try Litecoin trading, one of the best Bitcoin Alternative you should trade in 2018. Today for currency trading Cryptocurrencies are the lucrative options than other traditional currencies. But the whole mass of traders is running behind Bitcoin.
They and also you don’t know, apart from Bitcoin, there are many other Cryptocurrencies which can make you a millionaire in 2018.
Litecoin is one of them as Litecoin trading is a good option for any Cryptocurrency traders. As day by day, Bitcoin mining is going tuff requiring more and more hash power to mine Bitcoins, alternate coins are good options to choose. But keep in mind, you should choose your alternate Cryptocurrency carefully, by researching thoroughly.
Your research should include analyzing the past price graph, how much authority that currency has and many other factors. I want to just tell you, there are many good cryptocurrencies exists which can give you best results in trading. You should try them too.
Litecoin is a better choice as it gained good authority with time and if you look it’s historical price graph you would realize, I am telling true.
Just have a look at Litecoin’s historical price graph.
Image Credit – Coin market cap
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What is Litecoin
Litecoin is a just another cryptocurrency but it’s not as much costly as Bitcoin and it is designed to use in our daily requirement. Peoples say that if Bitcoin is gold then Litecoin is like a silver. It’s creator Charlee Lee is a famous blogger and very active across social media.
He is an ex-google employee and he says, “the main motive below creating Litecoin is to create a Cryptocurrency for daily use. Just like our traditional currencies.”
On 7th October 2011, Charlee Lee released Litecoin via an open source client on Github. And it went live on October 13th, 2011.
Basically, Litecoin is a Cryptocurrency using decentralized peer to peer network called Blockchain. Its released via open source software project t under MIT/X11 license. A cryptographic open source protocol is used for mining and transfer of Litecoin. As it uses decentralized peer to peer network so there is no centralized authority to manage it.
Some Useful Facts About Litecoin
Symbol – Ł
Coin Limit – 84 million which is 4 times higher than Bitcoin
Mining Algorithm – Scrypt (Compatible with home computers)
Current Block reward – 50 Litecoin
Market Cap – $540,274,528.26 which is quite smaller than Bitcoin
If you want to know more about Litecoin refer to Bloggeeks Litecoin guide containing brief introduction of Litecon.
Litecoin Value in USD (Historical + Current + Future)
Founded in 2011 Litecoin has gained a huge success in Cryptocurrency market. But, in it’s earlier stages it was not as much popular as Bitcoin. You can see the growth of this Cryptocurrency in below chart.
Image Credit – Coin market cap
This is a historical growth chart of Litecoin from July 13 to Jan 18. In this historical graph, you can clearly see that from July 13 to Jan 17, Litecoin value was below $80 as it was not so much popular as an alternative to Bitcoin. But on Jan 17 the value of Litecoin begins increasing rapidly and within only six months, on Jan 18 it crossed $320.
However, After that, it went down and stabled across $160 but this bounce of Bitcoin price is considered as a huge success in its history by Cryptocurrency experts.
Just like a Bitcoin, Litecoin is also considered as a volatile Cryptocurrency and this is useful addon if you are in day trading business. In day trading you go long and wait for a maximum benefit in a short period of time. Cryptocurrency market is much volatile compared to other markets. And it’s a very chance to gain huge benefits within a short period of time.
Litecoin could be is a decent choice for you in Cryptocurrency trading and the reason is its volatility. The other reason for choosing Litecoin for trading is its value. If you have not much money to trade in Bitcoin then Litecoin is the best alternative to trade in Cryptocurrency.
Future of Bitcoin
To know the future of Litecoin we should have a look at Litecoin historical graph. Look, it’s price begins increasing on Jan 17 and goes like a skyrocket in the graph but after 6 months price drops to just half. So the future of Litecoin is in my opinion like a wave in a sea. If you want to trade in Litecoin, you will have to use those waves to gain huge benefits in trading.
You will have to Take a closer look at the historical graph of Litecoin when it’s starts increasing and taking a shape of a wave then just go long and make a decent benefit for you.
You can also play short games in Litecoin for your daily trading business. As it is volatile it gives you much benefit than other Cryptocurrencies. After all, it is called silver in Cryptocurrency market.
Litecoin is based on a decentralized peer to peer network called Blockchain.
Blockchain technology is initially developed by Satoshi Nakamoto who is also the author of Bitcoin. This technology is the backbone of the majority of Cryptocurrencies and this is the main factor, why Cryptocurrencies are much secure than Legal tenders.
Short description of Blockchain technology
Blockchain is a fully decentralized peer to peer network which uses various computers and servers around the world to store the potential data. It also uses the servers and computers which are not all time online. Due to the decentralized technology, its impossible to hack blockchain servers because the data is distributed in all the servers connected to the network.
If any hacker wants to hack Blockchain then he has to access all the servers connected to this the network and it is impossible.
If you want to read more on Blockchain technology you can refer to my article,
Litecoin is also based on Blockchain technology so it’s as secure as Bitcoin and other Cryptocurrencies. You can buy Litecoin without worry about its security.
Litecoin Vs Bitcoin
Let’s compare some aspects of Litecoin with Bitcoin
If bitcoin is called Gold in Cryptocurrency market, Litecoin is treated as Silver.
Due to the high cost of Bitcoin, it is far away from average investors reach. Apart from this, Litecoin is within reach of an average investor.
Less volatile than Bitcoin so its safe for term investment.
Just like Bitcoin it also based on Blockcian peer to peer technology secure to buy and store.
Coin limit is 4 times more than Bitcoin.
Litecoin Vs Other Cryptocurrencies
Today, there are many cryptocurrencies available in the market but only a few of them are reliable for cryptocurrency trading. Litecoin is one of them. If we compare Litecoin with other cryptocurrencies, it is more popular than many of them. Today market analysts giving their opinion that trading in Litecoin is quite beneficial than other Cryptocurrencies.
Although Litecoin couldn’t outperform some Cryptocurrencies like Bitcoin, Ehterium, Bitcoin cash etc even after that it is acting like a silver in the digital currency market.
And, after July 2017 how its value increased like a skyrocket, I think this would be one of the major digital currency of future. Overall, the future of Litecoin is bright in the market.
Litecoin Trading Opportunities
Ya, now most awaited topic. What are the opportunities in Litecoin trading?
In simple words, there are lots of opportunities.
As you have read earlier in this article, today Litecoin is treated as the silver in digital currency market you can easily imagine why I told there are lots of Litecoin trading opportunities.
Coinbase the leader in Cryptocurrency trading published an article in March 2018 on Litecoin. In that article, they clearly said that.
The vision is always I wanted Litecoin to complement bitcoin—not compete,” Lee said at a March Coinbase talk. “Bitcoin can be used for like moving millions of dollars between banks, buying houses, buying cars. It’s really secure… Litecoin can be used for cheaper things.
Read the last sentence once more. They were right. Litecoin will be used for buying cheaper things in the future and also as a cheaper alternative for Cryptocurrency trading.
Litecoin is the real opportunity for low budget traders. You can now trade with a low budget if you can’t afford $9000 valued Bitcoin you should surely go for $150 valued Bitcoin.
Litecoin Trading Resources
We can divide Litecoin trading resources into 2 categories.
- Crypto-currency trading platforms
- Crypto-currency Charts and other useful information
Cryptocurrency trading platforms
As with other online trading platforms (Day trading, Currency trading, Oil trading, Gold trading etc), Cryptocurrencies have many online platforms available on the internet. Most of them support Litecoin trading but for your convenience, I have given here few good trading platforms here. You can review them and select which will better suit you.
They claimed as the world’s largest and most advanced Litecoin trading platform. I don’t make any comment on their claim but it is true that they are big fish in digital currency trading.
They also claim that they give most advanced trading platforms for their traders to give them the accurate information. You can definitely go with them as they are big fish in cryptocurrency trading and you will get satisfaction choosing them.
Here is my best Cryptocurrency trading platform. I really love it. They have the largest user base in the world. They have advanced UI for their traders. Also, they give easy to understand graphical data to help their users. Overall, they are awesome.
Considering the market size if Bitfinex is a big fish then Coinbase is Whale in Cryptocurrency trading. And the plus point is this you can trade in many Cryptocurrencies. Litecoin is one of them.
Kraken is the 3rd largest Litecoin trading platform in the world. You can also go with them as they have many special features which can help you a lot in trading. As I said earlier you have to choose your trading platform own. Review them, use their demos and then finally if you satisfied with any of them you can go and trade.
Cryptocurrency Charts and other useful information
There are many websites which can provide different types of charts and graphs related to Cryptocurrencies. The above 3 websites also provide you all the required data of Cryptocurrencies but some websites are especially dedicated to doing this work.
Here I have provided some useful website
I gave here some popular websites. You can google for more options.
One more thing: You should go to the official website of Litecoin for more Litecoin resources. Here is the link
Litecoin mining opportunities (Alternative Income)
This section is for those peoples who don’t want to earn from Crypto trading or they don’t have a large pocket to trade in Cryptocurrencies. Ya, here is the secondary income source from Litecoin.
Just like as other digital currencies, Litecoin opened secondary income source for tech-savvy peoples. Which is Cryptocurrency mining?
You can mine Litecoin and earn a decent income from Litecoin mining job. And the good news is that you can still mine Litecoin with your home PC. Although you should have dedicated graphics card if you want more income.
Litecoin uses Scrypt algorithm for mining and this algorithm is memory intensive so you should have graphics card with more memory.
Current block reward is 50 Litecoins but for effective earning you have to go and join mining pool where you work with other miners to solve a block and take a part of the Litecoin you all mine. The amount of reward depends upon the hash power you give to the pool.
If you want extra information about mining you can refer to this article by Coinbase
Litecoin Mining Resources
Here are some popular mining pools which you can join and earn with your home computers.
The world is going digital. more and more. Today we are breathing in the digital currency world. However, Cryptocurrencies are not as much popular for our daily use but that day is not so far when it will be possible. As other formats of trading, Cryptocurrency trading becoming so popular in 2017-18 you can definitely pour your pocket with Cryptocurrency trading.
Go, be a part of Litecoin trading, the silver in Cryptocurrencies and make a huge money with it. I wish you all the best. And don’t forget to share this post with your friends if you liked this.