With bitcoin prices cracking $10,000, investors who were late to the game should seek out alternative cryptocurrencies. Though they’ve risen in value alongside bitcoin in recent months, alternatives such as Ethereum and Litecoin are still far cheaper.
However, those looking for a quick buck must be wise about which alternative to buy into. Many of the smaller altcoins have been exposed as scams or have failed to gain traction. In other cases, more established coins have become overvalued due to their popularity.
The two most popular alternative cryptocurrenices are Litecoin and Ethereum. Both saw huge price increases throughout 2017: from under $30 per coin at the start of the year to nearly $400 by New Year’s Eve. However, they’re still vastly cheaper than bitcoin, which was valued at nearly $20,000 in December. Here’s a look at how they compare:
When you think about cryptocurrency, there is a good chance that Litecoin and Ethereum are two of the first names that come to mind. Both cryptocurrencies have been around for several years and are well established. Both have grown in value over time, though they have both seen some major fluctuations since they were first launched.
However, which of these two cryptocurrencies is the better option when it comes to making an investment? Which would be likely to offer you a better return on your money?
Let’s take a look at each of them, so we can see what their pros and cons are.
Litecoin: An Overview
Litecoin was launched back in 2011 as one of the first alternative cryptocurrencies to Bitcoin. It was designed to fix some flaws with the original cryptocurrency and quickly established itself as a strong competitor in the field.
Like Bitcoin, Litecoin is a peer-to-peer digital currency that allows users to send payments from one person to another without the need for a central authority or financial institution acting as an intermediary. It uses blockchain technology just like Bitcoin does, but it does have its own unique blockchain, so transactions cannot be transferred between chains.
Many people consider Litecoin to be one of the main competitors for Bitcoin and believe that it could one day
For those who are looking for a way to diversify their Bitcoin investment portfolio, there is no doubt that investing in altcoins at the current juncture is more profitable than ever.
But with more than 1,000 altcoins to choose from, which coin should we invest in? Because both Litecoin and Ethereum have proved to be global successes, it’s worth comparing the two to see which one is the better investment.
Litecoin or Ethereum: What’s the difference?
Both Litecoin and Ethereum are working towards making decentralised money a reality. But they do this in different ways.
In a nutshell, Ethereum aims to create a whole decentralised network on which people can build their own decentralised applications (dapps). It has its own programming language and runs smart contracts and decentralised applications on its blockchain.
Litecoin, on the other hand, is based on Bitcoin’s protocol but differs in that it can generate blocks four times faster and have four times as many coins in circulation – 84 million coins compared to Bitcoin’s 21 million. The Litecoin blockchain is also able to handle higher transaction volume than its counterpart – Bitcoin. But with the emergence of Ethereum, things began to change.
After Bitcoin and Ripple, Litecoin and Ethereum are the next most sought-after cryptocurrencies in terms of market capitalization.
In order to help you get a sense of which cryptocurrency might be best suited to your needs, we’ve put together the following table comparing some important factors to consider.
Litecoin vs. Ethereum: Comparing Key Attributes
When it comes to long-term investments, that is investments that you’re going to hold for several years and even decades, it is always a good idea to look at the long-term economic trends and not just the short-term price movements.
That is why we have decided to look at Litecoin and Ethereum from the perspective of their long-term potential. We will be looking at the fundamentals of both cryptocurrencies and see how they measure up against each other.
Let’s take a look at them one by one.
Litecoin is currently the fifth-largest cryptocurrency by market cap. The current market cap of Litecoin is around $8 billion while its trading price is sitting at $167.27 which puts its ROI (Return On Investment) at around 6,900%, making it a very good investment in our opinion.
The Litecoin Foundation released its Litepay payment service on 26th February 2018 but it has been shut down due to lack of interest from merchants and poor support from banks. Despite this setback, the development team behind Litecoin still believes in the wider adoption of LTC as an easy way to pay for goods and services.
They also claim that there is much more room for growth
Bitcoin created a lot of buzz on the Internet. It was ridiculed, it was attacked, and eventually it was accepted and became a part of our lives. However, Bitcoin is not alone. There are many other cryptocurrencies that are part of the crypto world. The purpose of this blog post is to introduce you to alternative cryptocurrencies (or altcoins) that you can invest in addition to Bitcoin. There are literally thousands of altcoins (Bitcoin alternatives), and the list is growing every day. Most altcoins cannot be bought directly with USD; to acquire these coins individuals often buy Bitcoins and then trade the Bitcoins for altcoins on cryptocurrency exchanges.
So which are the best cryptocurrencies to invest in 2017? After Bitcoin there are 10 – 20 other coins that are bluechip coins; these are coins with a large chunk of the crypto market, a dedicated following and a real application.
In this post we will focus on only one type of altcoin: The best alternative cryptocurrency to invest in today!
The best cryptocurrency to invest in today is Bitcoin, followed by Ethereum. But of the 1,000 other cryptocurrencies, these are the 10 best.