Another notable but undervalued coin in the cryptoworld is Litecoin. It is a peer-to-peer Internet currency that allows instant a near-zero cost payments to almost any coin user in the world.
Litecoin is an open source, global payment network that is fully decentralized without any central authorities yet is still go undervalued.
Below are the five quick reason why Litecoin remained underrated in the cryptoworld.
- The percentage of the market cap that litecoin holds is one of the reasons it is brush aside. Currently there are 57,258,271 LTC in the market and there are tendencies that the price may shoot up again but because of the volume and the coin in circulation are not in proper ratio, making it invaluable to some traders.
- The introduction of the Litecoin Visa Debit card have a great impact on the credibility of the Litecoin. The site is up and running but by the looks of it, it was poorly developed and it looks unprofessional. This is suggestive that Litepay will not invest in their debit card until they are convinced Visa are going to change their position on these crypto cards.
- Litecoin is the silver version of Bitcoin, and unlike its gold counterpart, litecoin is designed for high-frequency transactions. The transfer, payments and confirmation is way faster than Bitcoin. The transaction fee was minimal than the other cryptocurrencies.
- There were rumors of Charlie Lee proposing an upgrade to litecoin with a soft fork, will it materialize or not? It doesn’t matter at all. The transaction fee with litecoin either in mining and exchange are way lower than BTC and Bitcoin Cash. The fork aim to decentralize the fee market because rather than having the developers decide what the fee is, you have the entire market deciding what they want to pay. And as of the moment, they have no hard forks for special interests.
- Litecoin have faster blocktime which reduces the risk of double spending attacks. For those who are confused about “double spend”, it is a form of attack where the given set of coins is spent more than once. Meaning they purchased a single coin and was able to use its value in two different transactions. And Litecoin don’t have this kind of issue because they have one of the quickest blocktime. Unlike Bitcoin it is easily and it is possible to make changes to Litecoin blockchain to protect the coins.
People invest variably with bitcoin and ethereum but they neglect the fact that this 2 coins are not designed to make payments. Litecoin the silver coin was mainly designed to make payment, faster transaction with lower transfer fee.
Next time when investing in cryptocurrency, it is okay to ignore some details but it is not volume and the size that matters. Sometimes its usability and ability of its blockchain to go through changes without compromising the safety of your coin.