Thinking to Get into Litecoin, Good Idea?
Litecoin is way cheaper and way faster than Bitcoin, and those seem to me to be good reason to invest in it rather than in Bitcoin. But I admit to being a minnow, or you could say cryptocurrency newbie, so I'd be glad of some advice, specially if it it written in plain enough English that I can understand it!
Here's my methodology. I went to Google News and typed in litecoin. Then I read several articles at various sites, very current, early October 2017. I learned Bitcoin can cost more than Paypal or Western Union to use for transferring funds. So some businesses are changing to Litecoin or to Dash. I had actually already seen that on a site I'd been to before. When I went back there to consider buying some things, I saw that they would be happy to take LTC (Litecoin) but no more Bitcoin.
People in poorer countries are very sensitive to costs, so they are also following and acting on what will keep the most in their pockets.
Of course, when you start researching, all kinds of topics come up that aren't directly related to where you started. I got sidetracked onto Litecoin faucets for a moment. Not for now.
So.. I went to https://litecoin.com/ and began reading what they have to say.
They have a link to https://www.reddit.com/r/litecoin/ so I will dig in there soon. A quick look tells me that Litecoin will be 5 years old in a few days.
I also have a tab open with a Steemit search for the world litecoin. But enough for now! Opinions very welcome!
Well, an update: I have been reading Teeka T and based loosely on his ideas, I am putting a small amount (my first crypto investments) into Bitcoin, Litecoin, and Ether.
When I go to the Bitcoin machine it buys/sells only 2 cryptos, Bitcoin and Litecoin. I actually get litecoins and buy things online with them. I actually use it, unlike some of these small coins that no one anywhere actually use. My only concern is the big drop it did like a month or two ago when it was around 80, it has never recovered, or it has not yet. I would think people who got in on Litecoin when it was high probably don't have nice things to say about it. But yeah the low fees make it even competition to Paypal, and it's fast. I think it has potential other coins do not as a practical coin people actually use.
Thanks for your helpful comments! Will keep monitoring Litecoin for a while before buying in.
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