5 Reasons Litecoin is Better Than Bitcoin

by Andrew McGuinness     Jan 25, 2018

Bitcoin is all the rage, and more and more people are throwing their life savings into Bitcoin, with the hope that it will skyrocket again over the next year. But is Bitcoin really the best investment in the cryptocurrency world? Another smaller cryptocurrency actually outperformed Bitcoin over 2017: Litecoin. Here are 5 reasons why Litecoin is better than Bitcoin:

1) Litecoin Can Actually Be Used as a Currency

The most obvious reason is in the name itself: Bitcoin is simply no longer a usable currency, while Litecoin is and will always be one. Litecoin was designed from the beginning with transactions in mind, while Bitcoin made the mistakes that all first-timers make. Bitcoin may still be a great investment, but that is all it will ever be: an investment, not a currency that you will spend in your daily transactions. This is because of a number of reasons, including Bitcoin’s high transaction fees and slow transaction times versus Litecoin’s low transaction fees and quick transaction times.

2) Emerging Markets Are Fully On Board With Litecoin

Your cryptocurrency news feed throughout 2017 may have been dominated by Bitcoin and Ethereum, but the currency truly making waves around the world was Litecoin. Litecoin has gained significant market share in several emerging markets, and is continuously being adopted by more and more merchants for its stability and easy transaction experience. Many investors in Asia and Africa prefer Litecoin due to its lower volatility, and its active team and founder who are constantly working to tweak Litecoin for the better.

3) Your Money Is Safer in Litecoin Than Bitcoin

In the last few months of 2017, many reports emerged discussing the hundreds of millions of dollars lost in Bitcoin Gold and Bitcoin Cash transactions. This is due to hacking, fraud, and just plain platform incompetence. The recent Bitcoin forks did nothing to fix the issues of security when it came to the BTC blockchain.

With Litecoin, security is almost a non-issue. The presence of a team that is constantly fixing and adjusting Litecoin allows it to stay much more secure than Bitcoin and other competitors; no giant hack has ever occurred with Litecoin.

4) Litecoin Makes It Cheaper To Trade in Bitcoin

As we discussed earlier, Litecoin’s fees are much cheaper than Bitcoin’s, with just a few cents compared to the several dollars it takes for every Bitcoin transaction. As Bitcoin intends to remain the same for the entirety of its lifespan, no one can expect that these fees will get any better; in fact, the fees will worsen over time, making it nearly impossible to use Bitcoin as an alternative digital currency without losing much more money than you are willing to spend on fees.

However, Litecoin allows Bitcoin holders to convert Bitcoin assets into Litecoin on its blockchain, allowing people to trade Bitcoin with each other by using Litecoin. This dependency on Litecoin will convert more Bitcoin users towards Litecoin.

5) Litecoin Isn’t a Victim Of Pump & Dumps

Bitcoin and Ethereum both suffer from volatility, leading to many speculating that they exist in bubbles that will soon pop. Whether or not this is true, this instability makes it difficult for even the most adventurous investor to invest big with a clear mind, knowing that they might lose a large part of their investment overnight.

But Litecoin’s growth has been very different from Bitcoin’s over the last year. A slow and genuine growth has allowed Litecoin to gain the trust of investors, and everyone who has given Litecoin a shot has realized its true potential to replace fiat currencies in daily transactions.

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