Litecoin (LTC) has the potential to make you rich in 2022

Cryptocurrency investing is slowly gaining popularity in the modern world. Although cryptocurrency investing is still relatively new, it has made a few smart investors millionaires. To spread your risk when investing in crypto, it is wise to diversify your portfolio.

There are many digital currencies available today, other than Bitcoin or Ethereum. Many investors don’t know about the alternative coins and altcoins they can add to their packages.

Litecoin is one of these coins you can consider adding to your investment. It isn’t as well-known as ether and bitcoin, so you might not be aware of it. Here are a few reasons to buy Litecoin if you’re looking to diversify your portfolio.

Bitcoin has been facilitating such transfers hence its popularity, but transactions on its platform are slow and expensive. To counter the slow transaction rates of bitcoin, developers created alternative coins.

Litecoin has been among many coins that have increased the speed of transactions and attracted many users. Users can process transactions on its platform four times faster than on the bitcoin blockchain. Although Litecoin may not be the fastest cryptocurrency currently, it has some promising technological developments that make it a worthwhile investment. It is worth investing in a project that continues to innovate and evolve.

2. Litecoin has a big market capitalisation

Market capitalisation is the value of a commodity at a given time. This value is calculated by adding the current price to the total number in circulation and multiplying it by the total coins.

Litecoin is currently trading at about $147 at writing this article, with a circulation of more than 69.3 million coins. Thus, its market cap is approximately $10.1 billion, placing it at number 20 in the cryptocurrency circles. High market caps indicate that a coin can withstand sudden market shocks.

The high market capital provides the currency with an insurance policy that protects it from becoming volatile. This means that only a few whale investors can drive the price to their will. These coins can be kept for the long-term, so you don’t have to worry about their price fluctuating.

3. Litecoin has a high liquidity

The liquidity of a digital currency is a crucial factor to consider when buying a coin. Liquidity refers to the ease at which an asset or commodity can be converted into liquid cash. It is important to choose a coin you can easily sell when you need liquid cash. This is particularly important if your goal is to quickly make profits on price fluctuations and enter into short-term trades.

Litecoin has the highest liquidity in the digital coin market. If you want to determine a coin’s liquidity, you can check its 24-hour volume. This volume is the number of coins investors have bought or sold in the last 24 hours. This volume included more than 7.8 millions coins worth more $1.1 billion in the case of Litecoin. It shows that you could have moved as many as 100,000 units in just 24 hours.

4. Litecoin has a strong team of developers

There are many digital currencies in use at the moment. Research shows that they could now be more than 10,000 coins in the industry today. These coins should be avoided as they are often temporary pumps and dumps. The coin’s future prospects are assured by a solid development team. This also means it can be easily adapted to technological advances to maintain its market presence.

Litecoin is one of the most serious projects in this sector. To ensure its continued success, it has a team that includes skilled and experienced developers. Coinbase and Google engineer, was the main developer. His team has helped Litecoin surpass Bitcoin in speed and efficiency. The team was the first to use the Segregated Witness update and also featured Lightning Network. These developments make it a worthwhile coin to invest in knowing that it could become something valuable in the near future.

5. Large corporations use Bitcoin

Large corporations have identified certain useful features in a digital currency. These large corporations inspire confidence and increase the value of digital coins as they are demanded more.

Litecoin now works with UFC (Ultimate Fighting Champion), Atari gaming giant and Overstock.com. These companies permit their clients to use Litecoins to pay for goods or services. This acceptance has facilitated the growth of this digital currency. This has fueled its demand, allowing it to grow in value over the past few years. Blockchain technology is gradually changing the gaming industry. Litecoin is a part of this change. It is wise to invest in such an exciting future.

Want more information on how to safely invest Litecoin in your portfolio? Check out our comprehensive Litecoin buying guide here or purchase from our recommended platform below!