Litecoin: Is It Worth to Buy in 2022?

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No secret, that investing in LTC is a controversial issue. On the one hand, it`s one of the oldest crypto currencies that has been around for a10 years. On the other hand, Litecoin can`t be called one of the most profitable investments, since there are more modern and convenient tokens. Now LTC occupies the 18th line in terms of capitalization among all digital assets and is significantly inferior to the leading crypto currencies in this indicator.

What`s LTC?

LTC appeared in 2011 when the first crypto was only two years old. It`s based on the BTC source code and operates similarly. Litecoin is working on blockchain, decentralization and the Proof-of-Work (PoW) principle. All financial transactions are recorded with the help of miners who perform a complex cryptographic task. Customers easily exchange funds Litecoin to Mastercard.

Clients can store purchased tokens in special resources:

  • The main wallet is Litecoin Core (it was created by the implementors of the network itself).
  • There are also alternatives like Electrum (a wallet that doesn`t require downloading the blockchain).
  • In addition, there are separate applications for mobile devices (for example, LoafWallet) and online services (Exodus).

All exchange operations with Litecoin are conveniently carried out through Jidex due to the fast processing of applications and simple verification process.

Litecoin’s Rate

From 2013 to March 2017, the price of the coin showed amazing stability. It fluctuated in the range of $3-5 almost all the time. However, in 2018 everything changed: the coin grew rapidly for several months until it crossed the $350 mark in December. The bounce was painful — the coin is now worth around $100. Generally, Litecoin follows the lead of bitcoin, repeating all the curves of its price chart, falling and growing along with it.

Prospects & Future

Analysts’ predictions about the Litecoin for the coming years vary. Many say that first-generation coins that aren`t designed to solve specific problems will leave the market. However, this doesn`t mean that it will disappear from the market within 1-2 years or never again update its historical highs. However, if Bitcoin strengthens as digital gold, then Litecoin will have excellent chances to rise in price and remain one of the key crypto currencies around the world. For many fans of the cryptocurrency market, this coin remains in demand, because you can make good money on it.

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