Litecoin is still one of the leads among cryptos. Today we are exploring the crazy joyride on a Litecoin highway, which its creator Charlie Lee has so eloquently put once: “Think of it being two highways: Today, Bitcoin is packed full of cars and Litecoin is empty. Even with Bitcoin packed, the cars are not coming to use the Litecoin highway today because it’s not connected and it’s inconvenient to go across. Lightning Network will build bridges over the highways. But a side benefit is that these bridges will connect both highways together.” Have you taken a ride on this highway already? Litecoin has proved itself so far and the time has come to check out the Litecoin advantages.
What Is Litecoin (LTC)?
Litecoin appeared in 2011 as the lite version of Bitcoin. It is still today one of its most popular forks. Creator of Litecoin is Charlie Lee, a former Google employee.
Litecoin is most popular for its incredible speed and extremely low transaction costs. These also constitute the main Litecoin advantages. However, these advantages have deeper reflections which make Litecoin even more attractive, and we will review them here.
As many other cryptos, Litecoin is an open source, peer-to-peer crypto currency, which is fully decentralized. All of these big words that sound complicated refer to very easy-to-understand concepts. Basically, it means that anyone can contribute to its development, and that there is no central authority governing its trends, fluctuations, etc.
Litecoin Advantages Compared to Bitcoin
You may be surprised to learn that Litecoin is 4 times faster than Bitcoin. It also outranks the leading crypto currency when it comes to low transaction fees:
- Depositing with Litecoin is up to unbelievable 100 times less expensive compared to Bitcoin, because of the extremely low transaction fees.
Moreover, Litecoin is strongly scalable. To you, as a depositing player, this means that your payments can be processed faster than before:
- Litecoin is 4 times faster than Bitcoin because it can reportedly process approximately 56 transactions per second. This beats any other crypto today. But that is not all! Shorter confirmation times enhance security of the transaction, so we can safely say that Litecoin is becoming one of the best secured cryptos nowadays.
Next, the number of Litecoin units is 84 million coins, which is way more than Bitcoin’s upper limit of 21 million:
- Bigger number of LTC units gives this crypto a psychological advantage. Moreover, the time has shown that this bigger number of units keeps the price lower as well, in the long run.
Litecoin is decentralized crypto. To put it more simply:
- Users do not need to rely on third party to process the payment, such as banks, for example. Therefore, close to zero intermediary fees are possible.
The Litecoin network is open to anyone. In plain English this refers to:
- The network which allows anyone worldwide to make the changes to the protocol, and it is a good thing. Why? Because we constantly need changes to the protocol to be implemented, so that we can all be in sync with the market’s needs and enable smooth running of things.
Litecoin in 2022 and Beyond
Litecoin has come a long way since we initially presented this crypto at Extreme, and it still holds firmly when it comes to its advantages over Bitcoin. Despite the fluctuations and the daily insecurities which we all have been facing for some time now, LTC is still one of the most trusted crypto currencies.
In short, it is still faster, extremely more affordable than Bitcoin and scalable. Most of you may be wondering about its predicted value in 2022 and the years to come. If we take a look at predictions made by reputable sites, things still look pretty good for LTC. For example, the Changelly blog has issued an interesting piece on the LTC advantages over BTC IN 2022. Basically, it predicts the increase in LTC value and maintaining the relative stability, the likes of which we have seen so far. The experts reportedly expect the price of the Litecoin to keep rising in the next 5 years. Some expectations even say that LTC would probably reach 10 times its value in the said period.
Contrary to this prediction the web site TradingBeasts predicts slight decrease in price when we talk about LTC. However, if we take a closer look at their predicted charts, we can notice that they see Litecoin getting back in the game at the end of 2023 or beginning of 2024. It seems that in the long run, Litecoin can be the winner among cryptos.
Litecoin at Casino Extreme
Crypto casino Extreme invites you to try out the best depositing option at the moment, explore the LTC advantages and see it for yourself. We have in mind how much you value your money, because we feel the same.
Litecoin advantages are too many to ignore and not benefit from. So, hurry up to our Cashier and let us know your impressions. While you are there, remember that 1st time depositors can take 200% no wagering and no max cash out bonus, or up to 1000% deposit boost – details of which we invite you to check at the Cashier.