Coin of the Year: LiteCoin
So if you read my first blog you would've seen that I had a pretty bold forecast for Litecoin at $1500 by the end of 2018. I am going to balk on this a little bit as I think I may have been caught up in some Friday night madness when posting that. I do believe however we will see it hit $1000 USD.
What is Litecoin?
"Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin."
Litecoin currently has over 300 trading pairs and is ranked 5th overall in market capital according to coinmarketcap.com. Litecoin targets to be a more cost effective payments solution to users who are frustrated or simply cannot afford the fees associated with Bitcoin.
Why am I so confident in Litecoin?
Simple. This coin is FUD proof like no other coin on the market. If you've been in the crypto market for more than six months, you probably remember exactly where you were when you read on Dec. 20th, 2017 that Charlie Lee (Founder of LiteCoin) sold all of his coins. Ok, maybe a little dramatic, but still this was at the time one of the biggest controversies and may still be the most infamous move in the crypto industry. Even after this, Charlie Lee and LiteCoin have continued to surge back. We saw Litecoin plummet to $130 in the weeks after this announcement. Today the coin is hovering at $200.
If that wasn't enough to sell you, how about this: In less than two days you will be able to pay for virtually anything, anywhere (that accepts visa) with Litecoin via a new company; LitePay.
Litepay has been confirmed for public launch Monday, Feb. 26th. Users will be able to order a visa card (once verified similiar to exchange verification processes) in which they can then connect to their Litecoin wallets and then use as any other Visa credit/debit card. This truly solidifies LiteCoin as a top payments coin in the crypto industry. I see the launch of LitePay bring LTC prices back near the $300 mark in the immediate future.
With the launch of LitePay, the integration of segwit and lighting networks on BTC & LTC , and the continued adoption of cryptocurrencies in 2018 will be key factors in the success of LiteCoin.
" We have been drafting behind the Bitcoin race car for many years. It’s about time to take a turn out front.This is my vision for how Litecoin and Bitcoin will work together to solve the world’s transaction needs in the future. And it is why the Silver to Bitcoin’s Gold analogy always resonated with me. " -Charlie Lee
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