Litecoin is considered by many to be Bitcoin’s twin brother, although this is not entirely true. A lot of aspects differ Litecoin from Bitcoin. Moreover, behind some factors there are serious technological challenges, which the average investor in cryptocurrencies often do not realize. One of these underestimated facts is that Litecoin is a testing ground for Bitcoin.
LTC technology and economy is the environment in which innovations and remarkable solutions are being implemented before they find their way to Bitcoin. This was particularly evident during the implementation of block size optimization and transaction processing algorithms. Litecoin’s price moved in the rhythm of news about implementations and functionalities as well.
Differences between Bitcoin and Litecoin
What is the difference between BTC and LTC? The mining method is the first technical aspect that comes to mind. It is worth mentioning that LTC transactions are much faster than those of an older brother. Hence the popularity of Litecoin, which is often used as a transfer currency between cryptocurrency exchanges. Litecoin price increased several times, especially in periods when Bitcoin experienced the peak of scalability problems.
Where to check Litecoin exchange rate?
So, where do you check the Litecoin price? The first places to check are crypto aggregates, such as CoinMarketCap or CryptoMaps. On these pages you will find an average exchange rate from many exchanges. This works well for the general feeling of the trend which is currently on the market.
You can also check capitalization. It is sometimes worth to check most popular Litecoin threads on Reddit. A popular shortcut is typing the phrase LTC to USD in the search engine, which should show us the current conversion rate.
Litecoin price levels for traders
Investors need to have more control over following Litecoin price. If you want to achieve good investment results, firstly, it is worth following the price in the same place where you make transactions. In the case of European investors, there will mostly be BitFinex cryptocurrency market. If you are considering day trading, you certainly need to trade on the lowest fee’s exchange, such as Binance. Litecoin, as a coin with rapid transaction confirmation time and relative stability, has a high transaction volume and the price on various exchanges is similar. However, this does not exclude the possibility of arbitration.
Among the speculators and day traders, it is important to assess and use trends, hence a technical analysis tool is necessary. The most popular choice is TradingView, where you can find many indicators, appliances and ready-made analyzes. Thanks to the visualization, it is easier to determine levels of resistance and support. The most useful facility is instant access to the opinions and reviews made by traders and analysts, also in regards of Litecoin.
Investing in Litecoin
So, is Litecoin a good investment? So far buyers are more than happy. There were only a few months with LTC price over $150. At the beginning of 2021 we entered such space again. It means that the majority of LTC holders have profits. Are they going to take it and hop into other investments? It is not that certain, as holding has still strong sentiment in the crypto crowd.
Choose the best exchange for LTC
Register free account at Binance, the most popular cryptocurrency marketplace without verification. Check Litecoin live price and buy LTC with the lowest commission.
