Did you know that Litecoin is the 20-largest cryptocurrency by market cap? It has become an important part of many portfolios because of its increasing popularity.
If you are someone looking to invest in cryptocurrency for the first time or if you would like to diversify your portfolio, one of the best options you have is Litecoin.
But why is this cryptocurrency so popular? Let us look at some crucial reasons you should buy Litecoin.
1. Buy Litecoin for Big Market Capitalization
Market capitalization is an essential criterion for cryptocurrency. It refers to the total value of a commodity at the time. For Litecoin, this means taking the total number of coins out there and multiplying them by their value.
A high market cap like Litecoin has means that it is stable and that it can withstand market shocks. If the market becomes volatile, a cryptocurrency with a high market cap has a cushion that protects it.
2. Purchase Litecoin for Speed
Litecoin is faster than Bitcoin. Transactions using Bitcoin on its platform are complex and take too long, which is why developers created other coins.
With Litecoin, you can process transactions on its platform four times faster than on Bitcoin’s blockchain. Although it is not the fastest yet, Litecoin is constantly investing in new technology, getting it closer to being the fastest cryptocurrency out there.
By visiting this website, you can learn more about Litecoin and its speed.
You want to invest in cryptocurrency with a high level of liquidity. Liquidity refers to how easy it is to convert an asset into cash. You need to invest in a coin that you can sell and transform into cash as needed.
Litecoin is one of the most liquid coins in the market at the moment, making it a good investment when looking to buy cryptocurrency.
4. Large Companies Use It
When you see that large corporations are using a particular cryptocurrency, you know there will be an infusion of confidence in that coin.
Companies like UFC, Atari, and Overstock.com are all incorporating Litecoin into their businesses, allowing customers to use it as a payment option.
These corporations will spur its growth and popularity, making Litecoin a currency to watch.
5. Dedicated Developers
Most of the cryptocurrency options out there are created by people who abandon them the moment they are out in the world. That is not the case with Litecoin.
Litecoin’s development team is hands-on, adapting it to technological advances. Because its main developer was an engineer at Google and Coinbase, you know it is a coin with a future.
Invest in Litecoin
Investing in cryptocurrency is a wise choice, especially if you decide to buy Litecoin. Litecoin can offer the stability and dependability you need to be sure you have made the right investment.
If you want to know more about cryptocurrency, read our Business & Finances page!