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Litecoin and Bitcoin-Which Is Better?

Currencies / BlockChain Apr 13, 2021 - 01:18 PM GMT

By: Umer_Mahmood


Over the last few years, there has been a significant uprise in the popularity of cryptocurrencies. In fact, they have gone as far as to soar in popularity, and they are even becoming a highly important part of many people’s day to day lives so much so that they have found ways to integrate it like that. However, while it has significantly soared, it has also experienced its fair share of downfalls, controversy, and hard times.

Unfortunately, no cryptocurrency, or anything associated, has made its way through without any controversy, it is just a normal part of it. The main focus of this all, no matter the setbacks, has been the revolutionary cryptocurrency known as Bitcoin. It has been a shining light and people have flocked to it in numbers that have never been seen before.

After Bitcoins inception in 2009, many people began to be in awe of this amazing new thing that had hit the market, and after they had finished admiring it, they began to imitate it. That is when things such as Litecoin became a real stand out innovation. Both Bitcoin and Litecoin are very well-known cryptocurrencies, however, this doesn’t mean that they are exactly the same. Let’s take a look at two great cryptocurrencies.

Bitcoin has certainly seen its fair share of highs and lows, however, with the introduction of revolutionary websites such as the 1K Daily Profit, it is certainly skyrocketing once again. Bitcoin is obviously the first, so compared to others, it has had far more time to develop and learn about the market. This doesn’t mean that it’s out of the woods, though.

It is believed that it will continue to skyrocket and fall again and again throughout time and that it will never truly lose its volatility. Bitcoin was built throughout 2008 and then released in 2009, though it didn’t really reach its huge highs until many years later when people were once again interested in cryptocurrencies and began to use them more frequently than ever before. While it is a favourite, Litecoin is quickly catching up and people are even saying they prefer Litecoin over Bitcoin which has caused a large amount of controversy.

To many people, it may seem as if Litecoin is a competitor of Bitcoin, however, many people see it as more of a compliment to Bitcoin that is also far more inclusive. Litecoin is essentially the lite version of Bitcoin and allows many users to do the same things as they would with Bitcoin just in an easier and more financially friendly way. It wasn’t long after Bitcoin was released that the developers of Litecoin and many other cryptocurrencies began to take note of the empire Satoshi had built and that is when many other cryptocurrencies were introduced to the world.

People often say that Litecoin is the silver tier of Bitcoin and that it is just as good most of the time, just without some of the prominent features that Bitcoin has, however, that can be expected. 

By Umer Mahmood

© 2021 Copyright Umer Mahmood - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

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