Today, in the crypto industry, much focus is placed on Bitcoin (BTC) thanks to its global status as the king of crypto coins. In fact, it is the most accepted crypto coin around. However, this should not deter investors from other valuable altcoins, such as Litecoin (LTC), which is also popular in various circles.
This text compares both coins and offers a legit way to exchange both.
BTC and LTC: Strengths and Differences
Ideas and Concept Surrounding the Two
BTC is the pioneer of the cryptocurrency market. Often, it is the go-to option on platforms seeking to adopt crypto operations. It is also a very popular means of payment on the dark web.
LTC, like all altcoins, was inspired by the success of BTC and thus shares similar ideas. However, it lags in terms of the market run but is nonetheless a good alternative to BTC.
Essentially, there are no notable differences between Bitcoin and Litecoin.
Investing in Bitcoin and Litecoin
Investing in BTC
- Accessibility and Liquidity: Courtesy of its pioneering status, BTC is widely accessible. There’s hardly a platform that does not deal in it. It is also very liquid, given that it is always in demand.
- High Potential ROI: Bitcoin has a very high value, so there’s always the possibility to make a profit by holding such coins.
- Lack of Legal Protection: In some countries, Bitcoin is a forbidden digital asset. Some governments are uncomfortable with the fact that they can’t ascertain the finances of BTC users.
- Limited Use: While BTC has been adopted on many platforms, it is still not accepted as payment.
- Volatility: The high ROI potential of Bitcoin is due to its volatility, which can also be a disadvantage. A trader could buy BTC at higher rates today and have no choice but to sell at lower rates tomorrow.
Investing in LTC
- Transaction Speed: Litecoin has a faster operating system, so transactions are completed quicker.
- Mining Process: Litecoin is easier to mine compared to Bitcoin.
- Fees: LTC has lower operation fees.
- Similar Difficulties: LTC has the same disadvantages as BTC, mentioned above.
- Branding Issues: LTC has close ties to BTC, causing some users to have problems identifying it.
- Loss of Credibility: LTC has decreased in credibility over time, whereas BTC has remained as solid as ever.
Steps to Convert LTC to BTC
“How to convert BTC to LTC” is a common topic in search engines, and thanks to the presence of legitimate, decentralized services, such as Godex.io, the process can be very straightforward:
- Select the currency;
- Enter your wallet address;
- Wait for the deposit to reflect; and
- Complete the conversion.
Final Thoughts on Litecoin and Bitcoin
BTC and LTC are similar when the focus is on basic features. However, they differ in terms of stability and ease of operation. The former is best for holding, while the latter is ideal for trading. A long-term investor should go for Bitcoin as its future is promising, while a short-term trader should stick to Litecoin.
Users can take advantage of the Godex service for a quick, no-pitfalls exchange of crypto coins.