10 reasons to invest in Litecoin.
Litecoin is one of the earliest cryptocurrencies. It was once compared to silver as bitcoin is to gold. List reasons why it still has value today
1. It's faster than Bitcoin.
The transactions are confirmed in 2.5 minutes as opposed to 10 minutes for Bitcoin. This makes it better for buying coffee or anything that requires instant gratification.
2. It has lower fees
Bitcoin fees are higher because there is more demand for the space on the blockchain and supply is limited by the fact that you need to do "proof of work" to create new bitcoin (which is why mining exists). Litecoin does proof of work too but it's easier to do so it's not as scarce. This means lower fees since supply is greater.
3. It has a higher supply limit
Bitcoin will be capped at 21 million coins. Litecoin will be capped at 84 million coins, which means it can be used as a currency more easily since inflation won't be an issue (21 million new bitcoins are minted every year but this won't happen with Litecoin).
4. Faster transactions = better scaling solution for Bitcoin
Since Litecoin can confirm transactions faster, this means that when they add their layer two solutions onto Bitcoin (like the Lightning Network), transactions will be even faster and cheaper than they are now with Bitcoin. So if you think BTC will scale, then LTC might scale even better since it was built with these solutions in mind from day one.
5. The founder is still involved and very smart (and he doesn't have any control over the coin)
Litecoin was created by Charlie Lee, who still works full time at Coinbase (one of the biggest crypto exchanges). He left Coinbase because he didn't want any conflict of interest issues if he was working there while also promoting his own coin. He's a very smart guy and I expect him to continue working hard on this coin even though he has no control over its future because...
6. Its controlled by the users instead of one person or company
One problem with ETH is that all updates must go through Vitalik Buterin since he controls most of the supply of ETH via his companies that own most of ETH (like Ethereum Foundation, etc). With LTC, Charlie Lee has no control over its future so updates can happen more organically without having to get someone's permission first.
7. The Lightning Network will probably work better on Litecoin than Bitcoin since LTC already has atomic swaps built into its protocol whereas BTC doesn't really have this yet (although they are working on it)
So if you want to buy something using your BTC and someone wants to pay in LTC then you would do an atomic swap where both currencies exchange hands instantly without needing a third party like a bank or payment processor like Visa or Mastercard
This would make transactions much cheaper than using Visa or Mastercard