24/7 support and quick verification available on desktop or mobile. Co-founder of Trade The Chain, Ryan Gorman's long term outlook is also bullish on the coin based on the infrastructure already in place. Every week we ask a rotating panel of five fintech specialists whether they are bullish, bearish or neutral on LTC for the 2 weeks ahead. In a separate July 2021 survey, we also asked a 42-expert panel for their long term price forecasts for the end of the year, as well as over the next decade. You can find the results for both of these surveys on this page.

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• With a market cap of $9.2 billion, Litecoin is a good investment.
• Like Bitcoin, Litecoin undergoes the process of halvening (or ‘halving’).
• Just like any other financial business there are sometimes risks.
• Litecoin is a digital asset and as such there are no centralized exchanges for trading Litecoin.

Cryptoasset investing is unregulated in most EU countries and the UK. CFD crypto trading is unavailable for clients residing in the UK and US. 2022, according to our Litecoin price prediction, https://www.tokenexus.com/ is expected to be a year of stabilisation following 2021’s crazy bull run. However, next year, in 2023, we expect massive things for the price of Litecoin, including a new all-time high.

Should You Invest in Litecoin – Beginners Guide

This will provide you with a clearer idea of what is possible for the asset. LTC is trading at $133 at the time of writing and has a market cap of $9.2 billion, as reported by CoinMarketCap.

It is relatively stable and consistently ranks in the top 15 cryptocurrencies by market cap. However, there are no great cases of investors using Litecoin in a meaningful way. Litecoin’s founder, Charlie Lee, sold all of his LTC in 2017, causing the market to question its worthiness.

What Is LTC?

If you decide to invest, we’ll explain how you can also invest or trade Litecoin as a CFD. While unlikely to surpass Bitcoin in the near future, Litecoin’s prospects are favourable with the predictions pointing towards growth. Litecoin is not issued by any one government and is available globally for online transactions. Litecoin solves some of the problems inherent in Bitcoin, most notably its slow transaction speeds. It also solves many of the same problems as its elder brother by creating a currency you can spend without the need for a bank. Once you get more experience you can use alternative trading strategies to try to get more of an advantage.

Litecoin is transferred peer-to-peer sending a receiving address, address QR code, or physical transfer of a paper wallet. Third party vendors providing point of sale infrastructure for Litecoin include companies such as Verifone, BitPay, and Coingate. The first of these potential advantages could also be applied to the stock markets – and, history suggests, to crypto assets such as bitcoin. That’s why so much long-term investment advice is focused on moving cash out of our bank accounts and into stocks and shares that could appreciate over time. Litecoin has remained a very popular cryptocurrency over time, holding in the top ten largest by market cap for the past several years. Along with that the price action of Litecoin remains extremely volatile and active, making this one of the better cryptocurrencies for trading purposes. In 2019 and 2020 Litecoin has seen several peaks and valley, with its price doubling in some cases within months, or being cut in half in the same short period of time.

Is cryptocurrency a good investment? Checklist

There is still a positive sentiment towards Litecoin, which could add up to its bull trend. Note that this level of $45 can act now as a floor for the self-off of LTC, as well as a psychological barrier for investors. Litecoin uses a different hashtag algorithm, which makes mining more appealing and less resource-consuming. As stated above, at the time of writing, one LTC is trading at $133. As stated above, Litecoin will produce 84 million Litecoins, while its counterpart Bitcoin has a limit of 21 million coins.

However, it leverages the Scrypt algorithm, which requires fewer resources and is significantly faster. Anybody can mine Litecoin even from a personal computer, although the more processing power available, the more likely a miner is to verify a block and receive a payment successfully. Rewards drop as more coins reach circulation, as does the difficulty of the hash. Whoever guesses an answer lower than the target hash, determined by the blockchain protocol, wins the reward – correctly 12.5 LTC but due to half in August 2023. Benefits of LTC investment include high liquidity and the evidence of over a decade of price appreciation with a fair few blips in between.

Day trading

The goal of Litecoin is to prioritise transaction speed, so the network can make more blocks simultaneously, owing to the shorter time required to generate each block. The other element is coin supply, with an 84 million LTC cap vs 21 million Bitcoin, with a higher supply to match the four times faster processing speeds. This factor is an advantage for traders using Litecoin to handle financial transactions. Traders can buy Litecoin on any big crypto exchanges, usually quoted at a US Dollar price. As one of the original Altcoins – any crypto that isn’t Bitcoin – Litecoin was an early stage currency derived from the Bitcoin source code. Entrepreneur, Commercial Strategist, Investor and Philanthropist. Founder and Chairman of Moni Talks, a cryptocurrency exchange and social platform.

• Early investors in cryptocurrencies such as bitcoin will probably have made money.
• Bitcoin’s price soared through 2021, reaching record highs of $69,000 in November.
• Here are a few of the most common strategies we’ve seen people employ when investing and trading in crypto.
• However, its range of crypto-assets still pales in comparison to Binance.
• Our experienced risk management committee closely monitors and reviews yield generating strategies to stay ahead of emerging market trends.
• We explain everything you need to know about the cryptocurrency and why the price is going up.

Once you are logged in to your account, search for Litecoin or LTC in the market search bar at the top of the platform How Does Litecoin Work page. We only discuss regulated brokers, so you can be reassured that the ones listed below are fully regulated.